Network as a Service Market Companies, Trends, and Size|2031

Coverage: Network as a Service Market covers analysis By Type (WANaaS, LANaaS), By Application (UCaaS/Video Conferencing, Network Access Control, Virtualized Private Network (VPN), WAN Optimization Cloud and SaaS Connectivity, Multi-Branch Connectivity, Bandwidth on Demand, Secure Web Gateway, Others), By Vertical (BFSI, IT & Telecommunication, Retail, Media and Entertainment, Manufacturing, Healthcare, Government, Education, Others), By Enterprise Size (Large Enterprises, SMEs), and Geography

Publication Month : Apr 2024

  • Report Code : TIPTE100000571
  • Category : Technology, Media and Telecommunications
  • Status : Upcoming
  • No. of Pages : 150
Inquire Before Buy

PRICING

$5190

$4671

The network as a service market is expected to grow from US$ 8.78 billion in 2022 to US$ 78.96 billion by 2030, and it is estimated to grow at a CAGR of 31.6% from 2022 to 2030.

Analyst Perspective:

An increasing number of organizations see the network as a Service (NAAS) as a logical alternative for a network under their management due to the cost benefits and flexibility. The advantages network as a service delivers are persuasive regarding agility and value. It’s also paramount to recognize that it represents a step change across process, people, and technology. The extensive construction of novel data center infrastructures globally drives the growth of the network as a service market. Numerous factors drive this expansion, including integrating Big Data analytics, growing use of cloud computing technology for data storage, and virtualization within data centers to enhance workload mobility. These developments have improved resource utilization, lower overall costs, higher availability, and augmented security and reliability for critical business applications. Thus, the network as a service market is growing.

The rise in demand for faster data accessibility and low-cost IT infrastructure, the growing number of small & medium enterprises (SMEs), and the speedy growth of cloud technology are the essential factors that propel the network's development as a service market. However, security concerns about private cloud deployment are anticipated to hamper the network as a service market's growth during the forecast period. On the other hand, growth in cloud adoption among SMEs is expected to offer lucrative growth opportunities for development during the network as a service market forecast.

Market

Overview:

Network as a service is a cloud delivery model that streamlines business operations. It enables flexibility and the ability to transition from capital expenditure (CapEx) to operating expense (OpEx). This allows organizations to realize expected outcomes without the need to own, build, or maintain infrastructure. Network as a service gives businesses more flexibility and the opportunity for improved network performance. Organizations can emphasize cost-effectiveness by paying for the precise networking services requested via on-demand purchases. Network as a service also enables businesses to require more flexibility without redoing their contract or network.

The growth is accredited to the increasing network deployment as a service, as it is low-cost and provides greater scalability. Rising demand for widespread and high-speed network coverage and growing implementation and adoption of the cloud for data storage are significant factors fueling the growth. The rising deployment of public networks as a service in several verticals, such as manufacturing, BFSI, retail, and transportation & logistics, contributes positively to the growth of the web as a service market.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Network as a Service Market: Strategic Insights

network-as-a-service-market
Market Size Value inUS$ 8.78 billion in 2022
Market Size Value byUS$ 78.96 billion by 2030
Growth rateCAGR of 31.6% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
Analyst Image

Naveen

Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Market Driver:

Rapid Adoption of Cloud Computing and Network Virtualization Driving Network as a Service Market Growth.

Data collected on numerous social and digital platforms has significantly increased due to the implementing of cloud computing and network virtualization services. In cloud computing, network as a service provides pluggable, scalable, and API-driven network management that allows clients to construct and operate their networks online. Network and service is a networking framework that extends to network service providers' self-service and on-demand provisioning models of cloud computing. Therefore, expanding cloud computing implementation positively impacts the network as a service market expansion. The industry is increasing at a tremendous growth rate due to technological developments and customers’ inclination in the direction of cloud-managed network services.

Businesses are implementing network services to aid effective resource utilization, minimalize capital investment, improve service quality, and increase uptime. Network as a service allows customers/users to rent networking services from cloud providers. It is a cloud model providing networking services through the internet on a (pay-per-use) subscription model. The growing use of technology and customer preference for remote data access boosts the amplified need for cloud-based solutions. Companies understand the resource and cost savings benefits of migrating to the cloud instead of maintaining on-premise infrastructure, leading to augmented adoption among SMEs and large corporations. During the forecast period, cloud computing and virtualization will lower software setup costs and hardware utilization. Thus, the network as a service market is expected to grow during the forecast period.

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Segmental Analysis:

The network as a service market is bifurcated by type into LANaaS and WANaaS. The market is segmented by enterprise size into large enterprises and SMEs. By application, the network as a service market is segmented into UCaaS/video conferencing, network access control, virtualized private network (VPN), WAN optimization cloud and SaaS connectivity, multi-branch connectivity, bandwidth on demand, secure web gateway, and others. By vertical, the network as a service market is segmented into BFSI, IT & telecommunication, retail, media and entertainment, manufacturing, healthcare, government, education, and others. The network as a service market is segmented by geography into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America.

The WANaaS segment held the principal revenue share in 2022. A substantial CAGR is anticipated to register over the forecast period. It is a cloud-based wide area network (WAN) model designed to substitute legacy WAN, which depends on hardware. It employs connectivity protocols such as multiprotocol label switching (MLPS), which are challenging to manage. WANaaS substitutes hardware appliances as it is presented via the cloud. The verticals can configure WAN with an internet connection and software. WANaaS is a dedicated managed service appropriate for mid-size to large enterprises as it aids rapid deployments, enhances user productivity and experience, and decreases costs.

The large enterprise segment dominated with the principal revenue share in 2022. It is anticipated to expand at a substantial CAGR throughout the forecast period. The segment growth is accredited to the speedy adoption of cloud services such as SaaS, PaaS, and IaaS. Large enterprises are implementing cloud services for data centers and data storage for workload mobility. Additionally, the growing demand for a subscription-based business model in NFV, cloud computing, and SDN has boosted the adoption of networks as a service among large enterprises.

The SaaS, cloud, and connectivity segments held the principal revenue share in 2022. It is anticipated to grow at a significant CAGR during the forecast period. The increasing use of technology and consumer inclination toward the cloud drive the adoption of cloud-based solutions. Cloud-based solutions and services aid the verticals in accessing information and data from remote locations. It allows scalability, migration, mobility, and data recovery and increases effectiveness. The organizations can attain improved scaling and network assurance at reasonable costs, resulting in the prompt adoption of cloud-based solutions across businesses.

Regional Analysis:

North America dominated the network as a service market with the principal revenue share in 2022, accredited to the speedy adoption of network as a service solutions. The essential driving factor is the presence of substantial market players such as Amdocs, Palo Alto, Akamai, Megaport, and Cisco Systems Inc., which have boosted the network as a service market growth. Significant companies are investing profoundly in the research and development of network infrastructure, and data centers contribute to market growth.

Additionally, the substantial adoption of cloud-based and IoT services drives market growth. Organizations and businesses are changing their conventional network infrastructure to network virtualization solutions, progressive IT infrastructure, and cloud computing services. The telecommunication and cloud providers are implementing cloud platforms to eradicate the compound network setup management. Thus, the market is expected to grow during the forecast period.

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Key Player Analysis:

The market landscape consists of players such as Amdocs; Palo Alto; Megaport; Cisco Systems Inc.; Cloudflare; Akamai; AT&T Inc.; DXC Technology Company; Verizon Communications Inc.; Synnex Corporation; Hewlett Packard Enterprise Co.; NEC Corporation; and IBM Corporation are the key players owing to the diversified product portfolio offered.

Recent Developments:

Companies in the market highly adopt inorganic and organic strategies such as mergers and acquisitions. A few recent key Network as a Service market developments are listed below:

  • March 2023 - Akamai Technologies announced an agreement to acquire a cloud-based storage technology provider, Ondat, with a Kubernetes-native platform for running stateful applications anywhere at scale. Acquiring Ondat's cloud storage technology and industry-recognized talent will strengthen Akamai's cloud computing offerings.
  • September 2022 - Verizon announced the launch of a global network as a service relationship with technology services and consulting firm Wipro Ltd to speed up cloud transformation and enterprises' network modernization. Wipro's network as a service solution, powered by Verizon, includes a variation of pre-configured and proven service chains on a subscription-based model.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Application, Vertical, Enterprise Size, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The list of companies for Network as a Service Market include:

1. Cisco Systems Inc.
2. Aryaka Networks Inc.
3. IBM Corporation
4. NEC Corporation
5. AT&T Inc.
6. Brocade Communication Systems Inc.
7. Ciena Corporation
8. Juniper Networks Inc.
9. Alcatel Lucent
10. Verizon

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Network as a Service Market