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Network as a Service Market: What are the Future Growth Opportunities? Top Players: Aerohive Networks, Akamai Technologies, Alcatel-Lucent Enterprise, Aryaka Networks, Broadcom Inc., CenturyLink, Ciena, Citrix, Cradlepoint

Network as a Service Market: What are the Future Growth

One of the instances to demonstrate the growth of the network as a service market can be provided through the WAN as a service segment that is slated to garner nearly 30% of the NaaS market share by 2025. In traditional networking architectures, the hub of the network was built around a company's building headquarters or a data center which housed most of the equipment for computing, storage, communications, and security. This location traditionally hosted enterprise applications and traffic is typically backhauled to this location in case of people in branch and other remote locations.

This formula has recently started to fail the needs of many enterprises today, especially due to the major migration to the cloud. The demand for cloud network services has also began to increase due to its networking cost reduction capabilities. Enterprises are also coming to prefer WAN infrastructure to connect remote employees & devices and network as a service market is capitalizing such a shift, as enterprises are showing increased preference for NaaS offerings that help in minimizing costs associated with WAN networks management. NaaS models also eliminate the need of network rearchitecting and enable a subscription-based pricing model for enterprises.

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Network function virtualization will act as yet another driving force for the NaaS industry as telecommunication companies strive to meet the rising demand for bandwidth, cut down costs, and speed up delivery of new services. Companies are launching major initiatives that underline the acceleration of network function virtualization which in turn will help propel network as a service market. For instance, Bell Canada, the Canadian telecommunication company used an Open Network Automation Platform for the implementation of its first automation use case in early 2018 and AT&T, the American telecommunication giant announced 75% of its that network will be virtualized by 2020.

Telecom sector throughout APAC has been leveraging new NaaS models and enjoying greater flexibility and agility in a quickly changing environment. In addition, several telecom companies have been encouraged to come up with innovative offerings that could potentially change network as a service market dynamics. In terms of the regional dominance, countries including China, Japan, and South Korea could lead other nations owing to the extensive deployment of NaaS platforms, driven by technologies like NFV and SDN.

Japan is ranked among the top Asian countries in terms of cloud readiness, network services and broadband quality. In 2016, NEC Corporation, a Japanese multinational provider of information technology services and products, had collaborated with Netrounds and other partners to accelerate agile deployments of assured network services to increase efficiency and reduce operational expenditures. Similar moves by telecom firms, domestically and internationally, would create tremendous demand for network as a service market players around the globe.

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The Network as a Service market has garnered some of its most loyal customers among the small and medium enterprises as NaaS allows companies to buy into infrastructure services and solutions, they could hardly afford to buy outright but can now pay a subscription to avail as needed. NaaS market through SMEs is expected to record a significant CAGR of 35% over 2019-2025. This is because NaaS not only provides the bandwidth, flexibility and technology besides 24-7 support and on-call expertise that SMEs desperately need, but also saves such small and medium sized enterprises from the crippling one-off CAPEX cost, swapping it with the predictable monthly OPEX bill.

IT & telecom sector is seemingly a prime target for advanced and innovative strategies for improving network services, that would provide them with agility, flexibility, and facilitate efficient expansion with new application workloads.

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