Network as a Service Market Growth Set for Rapid Growth and Trend by 2022

Posted January 15, 2020 by son1ane

Network as a Service (NaaS) Market is Growing Rapidly with the Emerging Need of Connecting Various Devices Wirelessly
Network as a Service Market Highlights:
Network as a service (Naas) is a business model that provides virtual networking service and is utilized to integrate cloud networking framework and cloud computing services. Market Research future (MRFR) has recently published a detailed report suggesting that the global market for NaaS is anticipated to expand from USD 35.3 Bn in 2016 to USD 126.8 Bn by 2022 at a strong CAGR of 28.4% during the forecast period (2016-2022)
Rapid development in network virtualization, increasing demand for cloud computing and adoption of cloud-based services over the traditional practices, and inclination towards subscription-based (pay per use) business models are some of the major drivers that are empowering the proliferation of the global network as a service market. The emergence of software-defined networking (SDN), network virtualization, rise in the need for global connectivity and increasing awareness about the economic benefits of NaaS are factors inducing the demand for NaaS in the global Network as a Service Market Growth.
The challenges faced by global enterprises network for supporting the distributed workforce in multiple international locations is creating a huge demand for NaaS and is expected to grow the NaaS market globally. Potential benefits of network as a service such as reduction in network traffic, optimization of bandwidth usage, faster deployment, network transparency, reduced hassle for network management and maintenance are positively impacting the expansion of the global NaaS market. However, privacy data security and privacy concerns are likely to hinder the growth of the global NaaS market.

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Network as a Service Market Major Key Players:
The key players in the global Network as Service Market are Alcatel Lucent (U.S.), Brocade Communications Systems Inc. (U.S.), Ciena Corporation (U.S), Cisco Systems (U.S.), IBM Corp. (U.S.), Juniper Networks (U.S.), NEC Corp. (Japan), VMware (U.S.), Aryaka Networks Inc. (U.S.), AT&T (U.S.) among others.

Network as a Service Market Segmentation:
The global network as a service market has been segmented on the basis of type, service, component, deployment and end-user. On the basis of type, the NaaS market is segmented into local area network (LAN) and wide area network (WAN). By service, the market is divided into network virtual function (NVF), WAN connection, data center, bandwidth on demand and others. Component of NaaS market includes infrastructure and technology service. By deployment, it is divided into on-cloud and on-premise.

The end-users of NaaS includes IT and telecommunication, BFSI, manufacturing, healthcare, retail, transportation and others. Due to the growing application of NaaS and constant adjustment for cost-effective IT infrastructure operations, IT & communication and BFSI are expected to dominate the global NaaS market during the forecast period.

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Network as a Service Market Detailed Regional Analysis:
By region, the global network as a service market is segmented into North America, Europe, Asia-Pacific and the rest of the world. Inclination towards the adoption of advanced technology, intense research and development in telecom industry, increase in the number cloud-based services and other factors are driving the market in North America.

This region is anticipated to hold the largest market share during the forecast period. Expanding telecommunication network, adoption of cloud-based services and interment in IT infrastructural projects in developing economies is fuelling the growth of NaaS market in Asia-Pacific region and it is anticipated to project the fastest growth in the global NaaS market. Whereas, the market in the European region is profited due to extensive government initiatives, leading to the expansion of NaaS market in this region.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Last Updated January 15, 2020