Global Network as a Service Market is reaching revenue of ~US$ 50 Bn by 2028: Ken Research
Global Network As A Service Market by geography
The Global Network as a Service market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. North America accounts for the largest share among all regions within the global Network as a Service market, accounting for total market revenue.
The increase in demand for Network as a Service in Canada is growing mainly due to its new product roll-outs, acquisitions, mergers, and partnerships, which are changing the market in North America overall. The presence of a large number of service providers offering network services is also anticipated to drive regional growth over the forecast period.
The second largest region is Europe. Several collaboration initiatives taking place in the nation are contributing to the growth of NaaS platforms and product innovation. In February 2021, Packet Fabric and Colt Technology Services of the UK announced a strategic relationship to directly integrate Colts on Demand with Packet Fabric’s Network as a Service (NaaS) infrastructure. This will provide real-time network access to 100 prestigious data center sites around Europe, which will be advantageous to Packet Fabric’s business clients.
Competition Scenario in Global Network As A Service Market
The Global NaaS market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in a cloud-based solution, and technologies. The NaaS market’s growth is heavily reliant on technological advancement and Software investment. Nowadays, numerous cloud-based companies, including Rackspace, Verizon, Cisco, and Juniper are investing in NaaS, and governments are also making significant investments in NaaS.
Country-Niche players constitute about ~65% of the competitors, while global players constitute ~5%. Some of the major players in the market include Rackspace, Verizon, Cisco, AT&T, Aryaka Networks, Juniper Networks, NEC Corporation, VMware, Telefonica, Cloud flare, Ciena Corporation, Wipro, and among others.
What is the Expected Future Outlook for the Overall Global Network As A Service Market Across the globe?
The Global Network as a Service market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Network as a Service market is driven by increase in investment in advanced technology and collaboration in a cloud computing network. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries. With the increasing innovation and emergence of new products, the Global Network as a Service market is changing rapidly. For instance, In June 2021, AT&T introduced Cisco Webex Calling.
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AT&T Business offers Webex Calling with AT&T Enterprise to Cisco’s Unified Communications Manager – Cloud (UCMC). It will support businesses in increasing digitization and process optimization. UCMC will increase reliability and effectiveness for all users of Webex Calling with AT&T-Enterprise. Furthermore, In March 2021, Verizon introduced NaaS. This new SDN and NFV solution allow businesses to switch to a virtual infrastructure paradigm, resulting in more agility and on-demand resources.
In December 2021, Aryaka Networks introduced an “all-in-one” SD-WAN and SASE solution for diverse businesses. This decision has helped to increase company flexibility and accelerate cloud adoption.
The Global NaaS Market is forecasted to continue an exponential growth that is witnessed since 2017, during the forecast period is also, primarily driven by rising demand due to increasing digital transformation through data and networking technologies, such as IoT, blockchain, cognitive, and advanced analytics intensifies the adoption of connectivity advances in various industry. Though the market is highly competitive with over 500 participants, few global players control the dominant share, and regional players also hold a significant share.
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Market Taxonomy
By Type
- WAN
- LAN
- Bandwidth on Demand
- Data Connectivity Center
By Application
- Virtual Private Network
- Content Delivery Network
- Cloud Service Provider
- UCaaS/ Video Conferencing
- Integrated network security as a service
By Enterprises
- SMEs
- Large enterprises
By End-User
- Banking, Financial, Services, and Insurance
- Manufacturing
- Retail and eCommerce
- Healthcare
- Education
- Software and Technology
- Media and Entertainment
- Government
- Others
By Geography
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Italy, Spain)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific)
- Latin America, Middle East and Africa (LAMEA)
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