Global Network as a Service Market is expected to witness a rapid CAGR of ~30% during the forecast period (2022-2028): Ken Research

What Is the Size of Global Network As A Service Industry?

Global Network as a Service market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. The Network as a Service Market is largely driven by increase in investment in advanced technology and collaboration in a cloud computing network. The CISCO Global Cloud Index estimated that in 2021, cloud data centers would have likely processed ~90% of all workloads and computing instances, and the remaining processed by traditional data centers. As the information and applications hosted by the cloud are evenly distributed across all the servers, which are connected to work as one.

Therefore, if one server fails, no data is lost and downtime is avoided. Traditional IT systems are not so resilient and cannot guarantee a consistently high level of server performance. They have limited capacity and are susceptible to downtime, which can greatly hinder workplace productivity.

Furthermore, Since the COVID-19 outbreak, businesses have adopted the remote working concept, which has considerably raised the need for cloud-based solutions. However, in 2020, sales declined significantly for a variety of industries, including manufacturing, BFSI, retail, and others. Due to the rising popularity of remote working, businesses are increasing their investments in edge computing, cloud-based analytics and assurance, and AI-powered networking solutions. It's expected that this would lead to an increase in the NaaS market.

Global Network As A Service Market By Type

The Global Network as a Service market is segmented by Type into WAN, LAN, Bandwidth on Demand and Data Connectivity Center.  WAN dominates the market share of the Global market. WAN develops a communication network with the help of mobile phones, computers, remote offices, and data center. WAN as a service offers cloud, and Internet connectivity used by the customers and configures the WAN using software instead of hardware appliances.

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In February 2020, The VMware Telco Automation Cloud was launched to model, onboard, orchestrate, and manage virtual network functions (VNFs), cloud network functions (CNFs), and network services. TAC prioritized the cloud to reduce the complexity of multi-cloud architectures, making NFVs and VNFs more manageable as part of its "Ready for NFV" campaign.

Global Network As A Service Market by Application

The Global Network as a Service Market is segmented by Application into Virtual Private Network, Content Delivery Network, Cloud Service Provider, UCaaS/ Video Conferencing and Integrated network security as a service. Cloud-services provider segment accounts for the majority share of the Global NaaS Market.

Cloud- services providers the segment that is rising the fastest. The primary forces behind cloud migration include scalability, improved efficacy, speedier deployment, mobility, and disaster recovery. Cloud services describe a broad variety of services that are provided on demand to businesses and clients through the internet. These services are created to offer quick, inexpensive access to resources and applications without the need for internal hardware or infrastructure.

Global Network As A Service Market by Enterprise

The Global Network as a Service market is segmented by Enterprise into HSMEs and Large enterprises. Large enterprises segment account to hold the largest share of the market in 2022. Large enterprises are using virtualized technology to manage the connection in remote sites and raising support for Bring Your Own Device (BYOD) which helps them in managing their diverse source cost-effectively. Many large industries are embracing cloud services because they enable them to fulfill their business objectives at a low cost. Large enterprises are adopting NaaS as it covers a wide geographical area and it helps the large organization connect with all the branches at a time.

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Global Network As A Service Market by End-user

The Global Network as a Service market is segmented by End-User into Banking, Financial, Services, and Insurance, Manufacturing, Retail and eCommerce, Healthcare, Education, Software and Technology, Media and Entertainment, Government and Others. Software and Technology is the largest market in Global NaaS Market in 2022 owning to rise in demand for Software and Technology due to allocating cloud computing among enterprises as well as government agencies. The development of new technologies like 5G will lead to significant adoption of the NaaS platform in the telecom sector.

Market Taxonomy

By Type

WAN
LAN
Bandwidth on Demand
Data Connectivity Center

By Application

Virtual Private Network
Content Delivery Network
Cloud Service Provider
UCaaS/ Video Conferencing
Integrated network security as a service

By Enterprises

SMEs
Large enterprises

By End-User

Banking, Financial, Services, and Insurance
Manufacturing
Retail and eCommerce
Healthcare
Education
Software and Technology
Media and Entertainment
Government
Others

By Geography

North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Italy, Spain)
Asia Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific)
Latin America, Middle East and Africa (LAMEA)

For more insights on the market intelligence, refer to below link:-

https://www.kenresearch.com/business-research/global-network-as-a-service-market-size-segments-outlook-2028/

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.