The global network as a service market size is estimated to grow by USD 19,994.1 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 19.9% during the forecast period. NORTH AMERICA is estimated to account for 36% of the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. NORTH AMERICA has a highly advanced telecommunication infrastructure, further driving the demand for networks as a service. The region is home to some of the largest technology companies in the world, including Cisco Systems Inc and International Business Machines Corp, which are major players in the network as a service market. The increasing demand for network management solutions that can support the digital transformation initiatives of organizations is propelling market growth. For Comprehensive details on the market size during the historic period(2017 to 2021), and forecast period (2023-2027) – View a Sample report
Vendor Landscape
The network as a service market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products –The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now
Network as a Service Market – Market Dynamics
Drivers and Challenges to the market growth –
The increasing use of cloud services by enterprises is a major driver for the growth of the market during the forecast period. With the increasing application of technology and increasing consumer sensitivity to the cloud, there is an increasing demand for cloud-based solutions among businesses as this technology enables users to easily access data from remote locations. Furthermore, essential businesses such as banking are anticipated to employ cloud-based service provision more regularly because solution developers can pick up application and infrastructure components from many providers to build a hybrid cloud-based solution and because the IT industry is still looking for efficient infrastructure. Therefore, the increasing use of cloud services by enterprises is anticipated to drive the growth of the global NaaS market during the forecast period.
The rising complexity of modern networks is a major challenge hindering the growth of the global network as a service (NaaS) market. As networks grow larger, more diverse, and more distributed, they become more complex to manage and monitor. This calls for more advanced network-as-a-service solutions that provide greater network visibility and control. Modern networks generate vast amounts of data, including network traffic, device configurations, and performance metrics. However, the network as a Service must be able to process and analyze this data to identify problems and ensure optimal network performance. With the advent of IoT, there are many devices and endpoints to manage your network. Hence, the increasing complexity and difficulties of modern networks may limit the growth of the global network as a service (NaaS) market during the forecast period.
Leading trends influencing the market
Increasing inclination toward cloud technology is the major trend in the global network as a service market growth. Vendor collaborations and increasing investments in cloud computing, software-defined networking (SDN), and network virtualization by major vendors are the major factors for the growth of the market. For instance, in March 2021, SDx Networks and Masergy. Additionally, businesses need networks that can access their applications, infrastructure, and other IT resources when they need them. Most companies are looking to centralize operations and combine data from different locations in multi-tenant facilities. Moreover, organizations are moving to cloud-based platforms for their operations. Thus, the increasing trend toward cloud technology will have a positive impact on the growth of the global network as a service (NaaS) market during the forecast period.
Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View Sample Report
Company Profiles
The network as a service market report includes information on the product launches, sustainability, and prospects of leading vendors including Akamai Technologies Inc., AppsFlyer Ltd., Cisco Systems Inc., DATADOME group, Forter Ltd., Human Security Inc., Imperva Inc., InfiSecure Technologies Inc., Intechnica Ltd., Kasada Pty Ltd., Microsoft Corp., Nokia Corp., Oracle Corp., Pixalate EUROPE Ltd., Reblaze Technologies Ltd., Shape Software Inc., Six Dee Netad Solutions Pvt. Ltd., Stealth Network Services, Telstra Ltd., The Drupal Association, Variti International GmbH, and VMware Inc.
Competitive Analysis
The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, among others.
Market Segmentation
Technavio has segmented the market based on End-user (IT and telecom, BFSI, Manufacturing, Healthcare, and Retail and others), Type (WAN as a service and LAN as a service), and Geography (NORTH AMERICA, EUROPE, APAC, SOUTH AMERICA, and MIDDLE EAST and Africa).
- The market share growth by the IT and Telecom segment will be significant during the forecast period. IT and telecommunication held the largest revenue share in 2022. The growth of the segment is owing to the rising use cases and the adoption of cloud services and IT infrastructure. Network infrastructure plays a vital role in the IT and telecommunication sector as it reduces the digital divide by delivering quick network services and addressing the concerns of bandwidth scarcity at low costs. However, with the advent of 5G technology, they can further increase their service offerings to retain market share, which will contribute to the adoption of the network as a service solution in the telecommunications industry during the forecast period.
