GMI Research analysis indicates that the Network As A Service Market estimated at USD 10.8 billion in 2021 and is slated to register a double digit CAGR of 26.3% over the period 2022-2029 and is projected to reach USD 69.9 billion in 2029

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Market Dynamic

Key Drivers and Emerging Trends

Rapid digitalization and increasing use of cloud technology for data storage by small and large enterprises are the two major factors fueling the network as a service market growth. NaaS helps in reducing the service cost of vendors by facilitating customers to run their networks with maintain their own infrastructure. Thus, the emerging need for low-cost networking and the advent of big data analytics will propel the market growth. The growing need for pay per use model in network virtualization, rising awareness about the benefits of NaaS, development in IoT technologies, and expansion in software-defined networking are projected to drive the market growth over the upcoming years. As per the Network As A Service Market research report, ongoing innovations in the technology, which include the incorporation of connected devices with Augmented Reality, Virtual Reality, and the Internet of Things, is projected to augment the market growth. Increasing adoption for NaaS for operating VPNs, operating secure web gateways, and optimization of WAN has driven the market growth. In addition, the advent of big data, virtualization in data center for workload mobility and the ability of NaaS to provide performance gains in the networking infrastructure will expand the Network as A Service market size.

Restraint in the Network as a service Market

However, high cost associated with the installation and poor infrastructure are the key restraining factors that are likely to hamper the growth of the network as a service market.

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Type – Segment Analysis

Based on the type, WAN as a service segment is expected to dominate the global network as a service market. WAN solutions are used across various verticals like, healthcare, BFSI, retail, It and telecom etc. It provides, a communicating network, across many resources, including remote offices, computers, mobiles etc. WAN networks allow users public or private gateways based on customer’s requirements. WAN has the capability, to meet the requirements of the next generation technologies. For example, it covers large geographical areas, shares resources, and software with connecting workstations.

Industry Vertical – Segment Analysis

Based on the industry vertical, IT and telecom segment is expected to dominate the global network as a service market over the forecast period. The industry is highly dependent on connectivity for connecting with consumers across the globe. After the implementation of network as service connectivity, the industry is experiencing minimized cost in business operation, which is primarily responsible for the growth of the IT and telecom industry segment in the network as a service market.

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Regional – Segment Analysis:

Based on the region, the North America region is expected to dominate the network as a service market over the forecast period. The reason behind the dominancy of the region is the early adoption of an advanced technology solution, coupled with the prominent initiatives taken by the key player, which are U.S. based like the partnership between IBM and Jupiter Networks for managing existing infrastructure. All these factors are propelling the growth of the network as a service market in this region.

Top Market Players

Various notable players operating in the market include IBM, Oracle, Cisco, Verizon, AT&T, VMware, Inc, DXC Technology Company, Hewlett Packard Enterprise Development LP, Synnex Corporation, Juniper Networks, Inc., among others. 

Key Developments:

• • In 2021, Verizon Business collaborated with Cisco to strengthen the company’s Network as a Service (NaaS) digitization strategy by incorporating Cisco-managed SD-WAN services, including options for 4G/5G connectivity. The incorporation of new features helped both the companies to leverage Verizon’s 4G and 5G networks, helping them to expand and adopt the latest technology and stay agile to fulfil the ever-changing customer demands.
  • In 2021 – Kyndryl entered in a strategic partnership with VMware to emphasize on app modernization and multi-cloud services and help customers to improve their digital and business transformation with enterprise control. This collaboration was intended to speed up IT and business reinvention for customers through the combination of VMware solutions and Kyndryl’s design, build, and managed services.
  • In 2021, Verizon introduced a latest SDN and NFV service that allows enterprises to transition to a virtual infrastructure model, offering greater agility and on-demand resources.
  • In 2019, IBM entered into a partnership with Jupiter networks for the management of existing infrastructures, which include data centers, data voice networks etc. This partnership helped both the companies in improving the interface for better client service.

Segments covered in the Report:

The global network as a service market has been segmented based on type, industry vertical, component, and regions. Based on type, the market is segmented into LAN as a service and WAN as a service. Based on industry vertical, the market is segmented into healthcare, BFSI, IT and telecom, manufacturing, transportation, and logistics. Based on component, the market is segmented into infrastructure services and technology services. 

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Key questions answered in this research report:

• • At what pace is global network as a service market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in network as a service market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global network as a service market?
  • Which type generated maximum revenues in 2021 and identify the most promising type during the forecast period?
  • What are the various industry vertical areas of global network as a service market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Network as a service Market by Type

• • LAN as a Service
  • WAN as a Service

Global Network as a service Market by Industry Vertical

• • Healthcare
  • BFSI
  • Retail and E-commerce
  • IT and Telecom
  • Manufacturing
  • Transportation and Logistics

Global Network as a service Market by Component

• • Infrastructure Services
  • Technology Services

Global Network as a service Market by Region

• • North America Network as a service Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Industry Vertical
    • By Component
    • US Market All-Up
    • Canada Market All-Up
  • Europe Network as a service Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Industry Vertical
    • By Component
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Network as a service Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Industry Vertical
    • By Component
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Network as a service Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Industry Vertical
    • By Component
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Network as a service (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • IBM
  • Oracle
  • Cisco
  • Verizon
  • AT&T
  • VMware, Inc
  • DXC Technology Company
  • Hewlett Packard Enterprise Development LP
  • Synnex Corporation
  • Juniper Networks, Inc.