Network as A Service Market is Predictable to Touch USD 75.25 Billion with Registering a Massive CAGR of 23.7% Forecast to 2030
According to the research report published by Polaris Market Research, the global network as a service market was valued at USD 12.53 billion in 2021 and is expected to reach USD 75.25 billion by 2030, to grow at a CAGR of 23.7% during the forecast period.
Network as a service, or NaaS, is a cloud service model that allows users to operate networking services from cloud providers instead of building up their network. NaaS eliminates the need for owning or building its networking infrastructure in order to achieve the outcomes. Network as a service carries software-defined networking (SDN), transport, programmable networking, and API-based operation to WAN services, multi-cloud, hybrid cloud, Private Network Interconnect, and Internet Exchanges.
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Organizations use the network as a service to access network infrastructure through flexible operating expense (OpEx) subscriptions. The growing demand for the network as a service across several industries, including manufacturing, healthcare, media & entertainment, education, BFSI, retail & eCommerce, software and technology, and others, are anticipated to fuel the growth of the network as a service market.
Network as A Service Market: Growth Drivers
The increasing need for wireless communication for industrial and commercial operations is expected to create lucrative opportunities in the global network as a service market. NaaS eliminate the requirement for CapEx to OpEx, enabling companies to achieve targets without owning and maintaining their own infrastructure. This factor is accelerating the growth of the network as a service market. Growing investments in the developments in the IT infrastructure, along with an increase in SDN integration with existing network infrastructures are expected to drive the market growth over the forecast period. A significant increase in data traffic due to the extensive use of smart devices and high bandwidth applications led to an increased requirement for novel network architectures. This factor is expected to promote market growth during the projected time period.
Network as A Service Market: Report Segmentation
Insight by Type
Based on insight, the Wire Area Network segment is anticipated to witness the largest market share as it is used across every sectors to manage intricate and varied network infrastructure at a cheap price. The WAN services provide advantages such as increased bandwidth, lower latency, and bandwidth optimization.
Insight by Organization Size
On the basis of small and medium enterprises segment is projected to dominate the market with the highest CAGR during the foreseen period. Small and mid-size firms carry many technological advancements and processes, and these firms focus on producing larger quantities. Thus, the demand for the network as a service market in these organizations is expected to grow during the projected period.
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Geographic Overview: Network as A Service Market
Based on geography, North America is anticipated to hold the largest market share during the forecast period. The U.S. is the key driver for the the network as a service market in the region. The growing popularity of cloud-based services within organizations is majorly driving the growth of the network as a service market.
Moreover, Asia Pacific is expected to witness the fastest CAGR over the forecast period owing to the benefits offered by NaaS, such as optimized bandwidth consumption, less network traffic, transparent network visibility, faster deployment, and fewer network maintenance and management difficulties.
Some major players operating in the Network as a Service include AT&T, Axians, BT Group, Cloudflare, Comcast Business, GTT Communications, HGC, Lumen, NTT Communications, Orange Business Services, Tata Communications, Telefonica, Tenfour, Verizon, Vodafone, and Wipro.
In March 2022, Acuative Corporation, a leading provider of managed network lifecycle solutions, announced its acquisition of Network as a Service (NaaS) provider, TenFour. The acquisition will enable Acuative to expand its service offering in order to meet its business needs and goals in the near future.
Network as A Service Market: By Type Outlook
- Local Area Network and Wireless Local Area Network
- Wire Area Network
- Communication and Collaboration
- Network Security
Network as A Service Market: By Organization Size Outlook
- Large Enterprises
- Small and Medium-Sized Enterprises
Network as A Service Market: By Application Outlook
- UCaaS/Video Conferencing
- Virtual Private Network
- Cloud and SaaS Connectivity
- Bandwidth on Demand
- Multi-Branch Connectivity
- WAN Optimization
- Secure Web Gateway
- Network Access Control
Network as A Service Market: By End-Use Outlook
- Banking, Financial, Services, and Insurance
- Retail and eCommerce
- Software and Technology
- Media and Entertainment
Network as A Service Market: By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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