Network as a Service Market: Industry Size, Growth and Demand 2023-2028
According to IMARC Group’s latest report, titled “Network as a
Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and
Forecast 2023-2028.’ The study provides a detailed analysis of the
industry, including the global network as a service market share, size, trends,
and growth forecasts. The report also includes competitor and regional analysis
and highlights the latest advancements in the market.
How big is the Network as a Service Market?
The global network as a service market size
reached US$ 14.3 Billion in 2022. Looking forward, IMARC Group expects the
market to reach US$ 77.6 Billion by 2028, exhibiting a growth rate (CAGR) of
32.3% during 2023-2028.
What is Network as a Service?
Network-as-a-Service (NaaS) represents a cloud-based technology solution
that involves the leasing of networking assistance from service providers. It
comprises the hiring of software, management tools, hardware, lifecycle
services, and licenses without building, owning, or maintaining the setup
infrastructure. NaaS can aid in replacing load balancers, firewall appliances,
hardware-centric virtual private networks (VPNs), and multiprotocol label
switching (MLPS) connections. The network infrastructure is also virtualized
via flexible operating expenses (OpEx). The service is given to the customers
in exchange for a subscription and can be scaled as per the requirement of the
user. As a result, NaaS finds widespread applications across various sectors,
such as retail, information technology (IT), banking, financial services and
insurance (BFSI), and healthcare.
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What are the growth prospects and trends in the Network as a Service
industry?
The expanding IT industry across the globe and the escalating demand for this solution for video conferencing, operating VPNs, wide area network (WAR) optimization, and running secure web gateways are among the primary factors driving the network-as-a-service market. Besides this, the elevating requirement for this platform by small, medium, and large-sized organizations for converting physical networking elements to sharable virtual resources is further augmenting the market growth. Moreover, several technological advancements, including the integration of connected devices with the internet of things (IoT), virtual reality (VR), and augmented reality (AR) solutions to offer enhanced technical flexibility and data security to the organizations and improved access to private and public gateways is also catalyzing the global market. Apart from this, the inflating need for this solution, as it delivers enhanced connectivity with smart devices, computing systems, remote offices, and data centers, is acting as another significant growth-inducing factor. Furthermore, the extensive utilization of 5G technologies and the growing popularity of the pay-per-use pricing model are expected to bolster the network-as-a-service market in the coming years.
Who are the key players operating in the industry?
The report covers the major market players including:
- Akamai
Technologies Inc.
- AT&T
Inc.
- Broadcom
Inc.
- Ciena
Corporation
- Cisco
Systems Inc.
- GTT
Communications Inc.
- Hewlett
Packard Enterprise Development LP
- International
Business Machines Corporation
- Juniper
Networks Inc.
- Nokia
Corporation
- Oracle
Corporation
- Telstra
Corporation Limited
- Verizon
Communications Inc.
- VMware
Inc.
- Dell
Technologies Inc.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- LAN-as-a-Service
- WAN-as-a-Service
Breakup by Application:
- Cloud-based
Services
- Bandwidth
on Demand
- Integrated
Network Security-as-a-Service
- Wide
Area Network
- Virtual
Private Network
Breakup by End Use Industry:
- Healthcare
- BFSI
- Retail
and E-Commerce
- IT and Telecom
- Manufacturing
- Transportation
and Logistics
- Public
Sector
Breakup by Region:
- North
America (United States, Canada)
- Europe
(Germany, France, United Kingdom, Italy, Spain, Others)
- Asia
Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin
America (Brazil, Mexico, Others)
- Middle
East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market
Trends
- Market
Drivers and Success Factors
- Impact
of COVID-19
- Value
Chain Analysis
- Comprehensive
mapping of the competitive landscape
Note: If you need specific information that is not currently within
the scope of the report, we will provide it to you as a part of the
customization.
About Us
IMARC Group is a leading market research company that offers management
strategy and market research worldwide. We partner with clients in all sectors
and regions to identify their highest-value opportunities, address their most
critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and
technological developments for business leaders in pharmaceutical, industrial,
and high technology organizations. Market forecasts and industry analysis for
biotechnology, advanced materials, pharmaceuticals, food and beverage, travel
and tourism, nanotechnology and novel processing methods are at the top of the
company’s expertise.
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