Network as a Service Market Size, Share, Trend Analysis, Segmentation And Forecast To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Network as a Service Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The network as a service market size has grown exponentially in recent years. It will grow from $20.22 billion in 2023 to $26.2 billion in 2024 at a compound annual growth rate (CAGR) of 29.6%. The growth in the historic period can be attributed to increased demand for scalable solutions, cost-efficiency, rise of remote work.

The network as a service market size is expected to see exponential growth in the next few years. It will grow to $78.61 billion in 2028 at a compound annual growth rate (CAGR) of 31.6%. The growth in the forecast period can be attributed to edge computing expansion, security and compliance requirements, industry-specific networking solutions, flexible subscription models. Major trends in the forecast period include 5G integration, digital transformation initiatives, software-defined networking (SDN) adoption, network security as a service (SECaaS), network analytics and intelligence.

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Market Segmentation:
The network as a service market covered in this report is segmented -
1) By Type: LAN as a Service, WAN as a Service, Bandwidth on Demand (BoD), VPN as a Service, Managed Services
2) By Enterprise Size: Large Enterprises, SMEs
3) By End-User: Banking, Financial Services, And Insurance (BFSI), Government And Public Sector, Healthcare, IT And Telecommunication, Manufacturing, Retail And E-commerce, Other End Users

Major Driver - Cloud-Based Application Surge Propels Network As A Service Market Growth
The growing number of cloud-based applications across enterprises is expected to propel the growth of the network as a service market going forward. Cloud-based applications refer to the cloud computing used for data storage. People staying at home have increased the usage of the internet which has surged the demand for high-speed network connection, network as a service utilizes cloud computing that is helpful for the customers to operate their own networks by deploying cloud-based applications and have access to network infrastructure directly and securely. For instance, in 2021, according to Cisco, a US-based technology company, overall data center workloads and compute instances will be more than double those of 2021. The workload and compute instance density for cloud data centers will reach 13.2 by 2021. Therefore, the growing number of cloud-based applications across enterprises is driving the network as a service market growth.

Competitive Landscape:
Major companies operating in the network as a service market report are China Telecom Corporation Limited, Verizon Communications Inc., China Mobile Limited, AT&T Inc., Deutsche Telekom AG, NTT Communications Corporation, IBM Corp, Cisco Systems Inc., Vodafone Group plc, KDDI Corporation, Orange SA, Telefonica S.A., Oracle Corp, BT Group plc, Lumen Technologies Inc., Telstra Corporation Limited, TELUS Corporation, Singtel, Wipro Limited, Comcast Business, Telia Company AB, Juniper Networks Inc., Colt Technology Services Group Limited, Tata Communications Ltd., Cloudflare Inc., Axians, PCCW Global, GTT Communications Inc., Aryaka Networks Inc., Servsys Corp

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Top Trend - Strategic Partnership Drives Optical LAN
Major companies operating in the network as a service market are adopting a strategic partnership approach to facilitate the rapid adoption of optical LAN. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in August 2022, Nokia Corporation, a Finland-based telecommunications company, partnered with Furukawa Electric LatAm S.A., a Brazil-based manufacturer of structured cabling. The collaboration establishes Furukawa Electric LatAm as Nokia's partner for implementing optical LAN solutions in the Latin American enterprise sector, commencing with deployment initiatives in Brazil. Under this agreement, Furukawa Electric LatAm will integrate Nokia's optical networking equipment into its Laserway passive optical LAN solution. Marketed through its partner ecosystem, this strategic partnership aims to offer advanced optical LAN solutions to enterprises in the Latin American region, enhancing connectivity and network capabilities.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Network as a Service Market Characteristics
3. Network as a Service Market Trends And Strategies
4. Network as a Service Market - Macro Economic Scenario
5. Network as a Service Market Size And Growth
…..
27. Network as a Service Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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