Network as a Service Market Size to Reach USD 103.24 Billion in 2030 | Emergen Research

VANCOUVER, B.C., Jan. 19, 2023 /PRNewswire/ -- The network as a service market size reached USD 16.65 Billion in 2021 and is expected to register a CAGR of 22.4% during the forecast period, according to latest analysis by Emergen Research. Network as a Service (NaaS) is significantly deployed for scaling IT infrastructure by replacing hardware-centric virtual private network (VPN) and multiprotocol label switching (MPLS) connections. Many IT organizations are incorporating network as a service (NaaS) to improve the speed, agility, and scalability of workloads.

Network as a Service (NaaS) allows IT clients to easily scale their network resources as needed and reduces the cost and complexity of managing a network. Some examples of NaaS providers include Cisco Systems Inc, Cloudflare, Inc., Verizon Communications Inc., and others. Network as a Service (NaaS) is expected to continue as more organizations seek to take advantage of flexibility, scalability, and cost-effectiveness by deploying NaaS solutions. Additionally, introduction of 5G networks and the internet of things (IoT) in functional areas of business are significantly driving demand for more advanced networking capabilities.

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Drivers:

Increasing utilization of network as a service in digital transformation of businesses is driving revenue growth of the market. NaaS enables businesses to outsource their network infrastructure and management to a third-party provider to scale and manage network resources efficiently. Additionally, internet penetration in digital transformation of business is significantly supporting the growth of the market. According to The International Telecommunication Union (ITU), globally 5.3 billion people, or 66 % of the world's population are using the internet in 2022. Moreover, several organizations are using network as a service (NaaS) for saving costs by eliminating the requirement for in-house network management. Network as a Service (NaaS) reduces costs by introducing new virtualized network infrastructure processes for hardware, software, operations, and maintenance. NaaS enables businesses to access advanced network features and technologies, such as software-defined networking (SDN) and network functions virtualization (NFV). This allows companies to stay competitive in the digital landscape and to adapt more quickly to changing business needs. Furthermore, network as a service (NaaS) providers charges a monthly subscription-based cost for network function virtualization (NFV) and bandwidth on demand, which enables enterprises to leverage their monthly IT budget. These factors are considerably accelerating market expansion.

Restraints:

Complex deployment procedures of NaaS tools and global shortages of experienced information technology (IT) are restraining growth of the market. Deploying a network as a service in API-based operation, software-defined networking (SDN), programmable networking, WAN services, hybrid cloud, and multi-cloud distribution includes complex deployment structures for integrating with current IT environment. These network distribution parameters significantly impact organizational operational costs. Moreover, global shortages in skilled experienced IT professionals may hinder the growth of the market. According to, International Monetary Fund (IMF), there will be a global shortage of more than 85 million tech workers by 2030, which is representing USD 8.5 trillion in loss of annual revenue. These factors may lead to delays in implementing NaaS and other advanced technologies and may also lead to increased costs as organizations find and retain qualified IT professionals. These factors are restraining the growth of the market.

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Growth Projections:

The network as a service market is expected to register a CAGR of 22.4 % over the forecast period and revenue is projected to increase from USD 16.65 Billion in 2021 to USD 103.24 Billion in 2030. Subscription-based network as a service (NaaS) to deliver enterprise-wide area network (WAN) services.

Current Trends and Innovations:

The network as a service market is undergoing gradual changes during the forecast period. Network as a Service (NaaS) technology ensures network infrastructure and connectivity services are delivered over the internet as a fully managed service. This allows organizations to outsource the management and maintenance of their network infrastructure to a third-party provider, rather than having to manage it in-house. This can help to reduce costs and improve the scalability and flexibility of network infrastructure. The NaaS industry is significantly expanding as businesses are deploying network infrastructure, connectivity services and virtual network services in functional business areas.

Strategic Initiatives:

Major companies included in the market report are Cisco Systems Inc, Cloudflare, Inc., Hewlett Packard Enterprise Development LP, Verizon Communications Inc., Nokia Corporation, Dell Inc., Tata Communications Limited, Cato Networks Ltd., Amdocs Management Limited, Palo Alto Networks, Inc., Perimeter 81 Ltd., ALE USA Inc., NTT Communication and among others.

• On January 2023, Major market players of network as a service (NaaS) market NTT DATA partners with intelligent cloud networking company Aviatrix to provide business critical cloud network-as-a-service (NaaS). NTT DATA Business Solutions will deliver seamless services to Aviatrix to provide vital SAP application services to enterprise clients, enabling them to bypass the limitations of native cloud services such as AWS, Azure, and Google Cloud in terms of networking, security, visibility, and multiload capabilities.

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Scope of Research

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Emergen Research has segmented network as a service market on the basis of basis of type, application, organization size, industry vertical, and region

• Type Outlook (Revenue, USD Billion; 2019-2030)
• WAN as a service
• LAN as a service
• Organization Size Outlook (Revenue, USD Billion; 2019-2030)
•  Large Enterprises
• Small and medium enterprises
  
• Application Outlook (Revenue, USD Billion; 2019-2030)
• Virtual private network
• Bandwidth on demand
• Multi-branch connectivity
• WAN Optimization
• Secure web gateway
• Others (Integrated network security as a Service)
• Industry Vertical Outlook (Revenue, USD Billion; 2019-2030)
• IT and Telecommunication
•  Banking and financial services
• Healthcare
• Retail and e-commerce
• Transportation and logistics
• Manufacturing
• Government
• Others

• Regional Outlook (Revenue, USD Billion; 2019-2030) 
• North America 
• U.S
• Canada
• Mexico
• Europe 
• Germany 
• U.K
• Italy 
• Spain 
• Benelux
• Rest of Europe
• Asia Pacific 
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America 
• Brazil 
• Rest of LATAM
• Middle East & Africa 
• Saudi Arabia
• UAE
• South Africa
• Turkey 
• Rest of MEA

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