Press release
Network as a Service Market Size on Upswing: Reflects CAGR of 34.1%, Reaching $106.74 billion by 2029
Network as a Service Market Share
Cloud-based apps and expanding edge computing expected to drive the Network as a Service market size upwards.
What Is The Projected Market Size Of The Global Network as a Service Market And Its Growth Rate?
• The Network as a Service market is forecasted to scale from $25.71 billion in 2024 to $33 billion in 2025 at a CAGR of 28.4%. This growth can be attributed to the increased demand for scalable solutions, cost-efficiency and rise of remote work.
• An exponential growth is predicted in the near future, reaching to $106.74 billion in 2029 at a compound annual growth rate (CAGR) of 34.1%. The key drivers include edge computing expansion, security and compliance requirements, and the growth of industry-specific networking solutions, flexible subscription models.
What Is Driving The Growth In The Network as a Service Market?
The growth of the Network as a Service market can be traced back to the increase in the adoption of cloud-based applications across diverse industry domains. Cloud-based applications focused on data storage are being widely used today, underlying growing internet usage necessitated by the rising trend of working from home. Network as a Service utilizes cloud computing to help customers operate their networks securely and efficiently via cloud-based apps. The USA leads the public cloud market, with spending projected to reach a whopping $697 billion by 2027, followed by Western Europe and China.
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Who Are the Key Players Driving Network as a Service Market Growth?
• 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.
What Are The Key Trends In The Network as a Service Market?
• Integration of 5G technology
• Adoption of digital transformation initiatives
• Growth in software-defined networking (SDN)
• Emergence of network security as a service
• Increasing reliance on network analytics and intelligence
What Are The Segments Of The Global Network as a Service Market?
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
Which Region Leads The Network as a Service Market?
North America dominated the Network as a Service market in 2024. However, it is expected that the Asia-Pacific region would turn out to be the fastest-growing region in the forecast period. Other regions covered in this market report are Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Network as a Service Market Global Market Report?
• Market Size Analysis
• Market Segmentation Analysis
• Key Player Focus
• Growth Trends Analysis
• Market Contribution
• Growth Drivers
• Industry Challenges
• Competitive Developments
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