Network-as-a-service Market to 2023: Allied Market Research Forecast a Booming Industry in the upcoming years

The Network-as-a-Service (NaaS) is an outsourcing model for the virtual network services across the Internet. The dominant service providers offer necessary network hardware for the end users on the subscription basis, which is cost-effective and provides complete network solution. Greater flexibility of the network over consumption, efficient network bandwidth, and positive impact on resource-centric processes such as trouble management, network monitoring, & provisioning and service-centric processes such as service configuration, selling, & activation are some of the salient features of the NaaS. However, dependability on the vendor for total network solution and downtime of network limit the adoption of the NaaS.

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The rise in inclination toward the reduction of operation costs and proliferation of the cost control techniques are primary drivers of the market. Further, NaaS provides on demand network service and pay-per-use pricing model, which makes it one of the popular technologies in the market. The long-term recurring expense and data security & privacy concerns are foremost restraints of the market. Emergence of the local players and need of low-cost network services is expected to offer abundant opportunities for the market growth.

The market is in its emerging stage and is expected to grow at considerable growth rate. Innovation in the technology and collaboration across the various players in the market intensifies the competition. For instance, Level 3 Communications, LLC. and Cisco Systems Inc. collaborated for an adaptive NaaS on August 2016.

The NaaS market is segmented by component, application, type, industry vertical, and geography. In terms of component, it is bifurcated into infrastructure and technology service. The market is classified based on application as bandwidth-on-demand, network function virtualization, CPE, and integrated NaaS. The segmentation on the basis of type area includes LAN-as-a-service and WAN-as-a-service. Based on industry vertical, the market is categorized into banking, financial services, and insurance (BFSI), aerospace & defense, healthcare, public sector, IT & telecom, retail, and others. By geography, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

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Comprehensive analysis and profiles of the major market players such as Cisco Systems, Inc., Juniper Networks, Inc., IBM Corporation, NEC Corporation, VMware Inc., Aryaka Networks, Inc., AT&T, Inc., Alcatel Lucent S.A, Brocade Communication Systems, Inc, and Ciena Corporation is also provided in this report.

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