Pune,India, July 19, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global Network as a Service Market Size was valued at USD 13.63 billion in 2022 and is projected to grow from USD 18.70 billion in 2023 to USD 155.17 billion by 2030, exhibiting a CAGR of 35.3% during the forecast period.
Automation, digitization, and remote working drive the market growth in healthcare, government, engineering, BFSI, construction, and IT & telecommunications. SaaS PPM is used in business management as it provides additional functionality in a single solution.
This information is provided by Fortune Business Insights™ in its research report titled Network as a Service Market, 2023-2030.
Key Industry Development-
April 2023: Hewlett Packard Enterprise (HPE) introduced an updated version of its cloud management platform, HPE Aruba Networking Central, at its Atmosphere event, providing AI for IT operations (AIOps) and developed network capabilities.
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Key Takeaways –
- Network as a Service Market is expected to flourish & reach USD 155.17 Billion in 2030
- Numerous benefits for Network as a Service are offered by the expanding enterprise adoption of cloud services.
- For a variety of commercial operations, businesses are becoming more and more dependent on wireless communication.
- By offering wireless networking infrastructure and services that meet these needs, NaaS delivers a complete solution.
- Network as a Service Market Size in North America was USD 5.71 Billion 2022
Discover the Leading Players Featured in the Report-
“Amdocs Inc. (U.S.), Amazon Web Services, Inc. (U.S.), Megaport Limited (Australia)Hewlett Packard Enterprise (Aruba Networks) (U.S.), NEC Corporation (Japan), ARTERIA Networks Corporation (Japan), NTT Group (Japan), Cisco Systems Inc. (U.S.), Cloudflare, Inc. (U.S.), Verizon Communications Inc. (U.S.)”
Report Scope & Segmentation-
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 35.3% |
| 2030 Value Projection | USD 155.17 Billion |
| Base Year | 2022 |
| Network as a Service Market Size in 2022 | USD 13.63 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 180 |
| Segments covered | Type, Enterprise, Application, End-User, Industry, Regional |
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Drivers and Restraints -
Growing Need for Wireless Communication to Fuel the Demand for Network as a Service
The growing demand for wireless communication in commercial and industrial operations drives the demand for Network as a Service (NaaS). For enabling efficient operations and seamless connectivity, wireless communication is important.
Wireless communication enables automation, Internet of Things (IoT) connectivity, and machine-to-machine communication in the industrial sector. The market is anticipated to be driven the wireless communication as it provides flexible mobile connectivity for customers and employees and devices in the retail, transportation industries, hospitality, and healthcare.
The complex deployment procedures involved in NaaS, such as Software-defined Networking (SDN), API-based operation, and hybrid cloud distribution, pose challenges and increase the organization's operational costs.
Leading Segments Covered in this Report -
By Type
- WAN as a Service
- LAN as a Service
By Enterprise Type
- Small and Medium-sized Enterprise
- Large Enterprise
By Application
- Wide Area Network
- Virtual Private Network
- Cloud-based Services
- Bandwidth on Demand
- Others (Integrated Network Security as a Service)
By End User
- Corporate Customers
- Individual Customers
By Industry (Corporate Customers)
- BFSI
- IT & Telecommunication
- Manufacturing
- Healthcare
- Retail
- Others (Transportation)
Regional Insights-
North America to Lead the Market Share Owing to Technological Maturity
North America is anticipated to hold the biggest network as a service market share during the projected period. The market growth in the region is credited to its technological advancements in data centers and network infrastructure and extensive research & development in network expansion technology.
Asia Pacific is projected to reach the highest CAGR during the projected period as China and India are likely to surge the demand for NaaS.
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Competitive Landscape -
Key Players in the Market Focus on Data Centre Offerings to Drive Market Growth
Key players focus on making their position strong in the market with the help of partnerships, mergers, and acquisitions. Strategic planning is one of the most used among businesses to back their position in the market. One of the leading key players, such as Fortinet, Inc., focuses on providing networks and designing.
FAQs
How big is the Network as a Service Market?
Network as a Service Market size was USD 13.63 Billion in 2022. It is expected to reach USD 155.17 Billion by 2030.
How fast is the Network as a Service Market growing?
The Network as a Service Market will exhibit a CAGR of 35.3% during the forecast period, 2023-2030.
Related Reports-
Virtual Private Network Market Share, Revenue Forecast and Opportunities
Cloud IT Service Management Market Overview, Industry Share and Forecast
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