Network-as-a-Service Market share forecast to witness considerable growth from 2017 to 2024

Network-as-a-Service (NaaS) Market size has risen to prominence recently as it serves as a fine business model for enterprises providing network services on a subscription basis over the internet. The client has to pay only for the services that are being used. Network-as-a-Service is a very attractive business opportunity as it saves considerable money as the hardware network and the complete arrangement are managed by the in-house network.

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The lower costs with blended Wide Area Network (WAN) approaches present an attractive opportunity in growing regions such as APAC, where the technology is on an upward growth. It is also estimated that the Network-as-a-Service market is going to impact Internet of Things (IoT) and cloud considerably, leading to intense competition. Furthermore, technological advancements will present an increase in applications in many industries.

An important feature of the NaaS market is Bandwidth on Demand (BoD), available from its respective Internet Service Providers (ISP) at a low price than accessing it by contacting other ISPs. Some of its advantages are scalability, functioning in the background, and providing a strong layer of security when the cloud is to be accessed.

The Network-as-a-Service market is also benefiting from the IT and telecom industry end users as they are using various networking and cloud technologies, placing a huge amount of data on the cloud. Thus, it is aiding network operators by providing key resources such as data and communications along with intelligence to third parties professionally.

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The Network-as-a-Service market also comes with a few challenges of its own, primarily migrating the complete network to the cloud. The problem arises in dealing with cloud providers over the control of the network and how services are to be deployed on it. Furthermore, it is difficult to run the service in parallel with the existing network for each website. Although it is cost-effective in nature, the resultant cost savings of adopting this model is offset by the overhead cost of migration.

North America is leading in the Network-as-a-Service market with the majority of telecom providers present there though its growth is going to stagnate in the immediate future. It is expected that APAC region is going to be rapidly gaining in the market by virtue of its large working population. India, China, and Japan owing to their huge population and growing demands look set for a significant growth in the Network-as-a-Service market.

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Some key players working in the NaaS market include Cisco, Juniper, VMware, Aryaka, Alcatel Lucent, AT&T, Ciena, NEC, Brocade, and IBM. The integration of telecom providers with software providers will change the market environment and help them in developing customized products for their customers.

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