Network As A Service Market is projected to reach USD 69.9 billion in 2029 and expected to grow at a significant CAGR of 26.3% | Size & Industry Analysis

The Network as a Service Market is anticipated to reach USD 69.9 billion in 2029, growing at a faster CAGR of 26.3% over the forecast period (2022-2029).

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The factors driving growth of the market includes increasing deployment of Network as Service solutions across end-use industries such as BFSI, Manufacturing, and Transportation & Logistics, rise in the number of data centres around the world, emerging trend of Work from Home (WFH), growing demand for high performance networks and improvements in the living standards. Network as a Service solutions enables optimal resource allocation, reduces capital investment, enhances service quality, increases uptime, and delivers subscription-based business models, are some of the features pushing the Network as A Service Market Size. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI) and Big Data by companies, increasing acceptance for cloud-based platforms, rise in the launch of new services and rapid industrialization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, strategic partnerships, and mergers between enterprises, growing population growth rates and rising disposable incomes, are further contributing towards the market growth.

However, growth of the Network as a Service Market is hindered due to growing concerns related to data security and privacy.

The major players operating in the market are Hewlett Packard Enterprise Development LP, Verizon, AT&T, VMware, Inc, Synnex Corporation, Juniper Networks, Inc., IBM, Oracle, Cisco, and DXC Technology Company, among others.

Based on Type, the WAN as a Service segment is predicted to lead the market during the forecast period

Increased adoption of WAN solutions across end-use industries such as BSFI, Healthcare and Telecom because it provides because it provides communication network of resources such as remote offices, and computers, which is pushing the segment's growth.

Based on Industry Vertical, the IT and Telecom segment is projected to capture the largest market share over the forecast period

Increased adoption of Network as a Service solutions by IT and Telecommunication companies to reduce their operational cost, which is the major factor propelling growth of the segment.  

Based on Region, the North American region is anticipated to hold the highest market share during the forecast period

As per the Network as a Service Market Research, presence of the leading companies such as IBM Corporation, Oracle, and Cisco, rising adoption of cloud computing services, rapid industrialization and high per capita incomes, are some of the important factors augmenting the market growth in North America.

Key Developments

In 2021, Verizon Business partnered with Cisco to strengthen the company's Network as a Service (NaaS) digitization strategy by incorporating Cisco-managed SD-WAN services, including options for 4G/5G connectivity.
In 2021 - Kyndryl partnered with VMware to emphasize on app modernization and multi-cloud services and help customers to improve their digital and business transformation with enterprise control.
In 2021, Verizon developed a latest SDN and NFV service that allows enterprises to transition to a virtual infrastructure model, offering greater agility and on-demand resources.

Market Segmentation

Segmentation by Type

LAN as a Service
WAN as a Service

Segmentation by Industry Vertical

Healthcare
BFSI
Retail and E-commerce
IT and Telecom
Manufacturing
Transportation and Logistics

Segmentation by Component

Infrastructure Services
Technology Services

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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