Network as a Service (NaaS) is expected to showcase a strong CAGR of around 28% due to the accelerated adoption of cloud computing among large and small and medium enterprises| UnivDatos Market Insights

NOIDA, India, Oct. 4, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the  Network as a Service Market is expected to grow at a CAGR of around 28% from 2022-2028, reaching USD 47 billion by 2028. The analysis has been segmented into Type (Local Area Network (LAN) and Wireless Local Area Network (WLAN), Wide Area Network, Communication and Collaboration, and Network Security); Application (Video Conferencing, Cloud and SaaS Connectivity, VPN, Bandwidth On Demand, Network Access Control, and Others); Organization Size (Large Enterprises and SMEs); End-User (Banking and Financial Services, Manufacturing, Information, and Communication Technology, Retail, Healthcare, and Others); Region/Country.

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The Network as a Service market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the NaaS market. The NaaS market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the NaaS market at the global and regional levels.

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Market Overview

Network as a Service is defined as network infrastructure hardware, software, services, management, and licensing components used in a subscription-based or flexible consumption model. NaaS enables organizations to outsource network infrastructure provisioning, deployment, network administration, maintenance, and lifecycle management. Financing flexibility, enhanced security, proactive management, and scalable centralized management are some of the major benefits of NaaS.

The global NaaS market is uplifting on the account of the demand for reduced automation time and costs and high reliability and protection for mission-important enterprise applications. Moreover, factors such as the rise of Software-defined networking (SDN) integration into existing network infrastructure, and the accelerated adoption of cloud computing among large and small, and medium enterprises are also contributing to the growth of the market. For example, according to Eurostat, 41% of EU companies used cloud computing primarily for hosting email systems and storing files in electronic form in 2021, and 73% of these companies used cloud computing for security software applications, and hosting enterprises used advanced cloud services.

Some of the major players operating in the market include Verizon Communications Inc., Telefónica S.A., Nippon Telegraph and Telephone Corporation, Orange S.A., Vodafone Group Plc, BT Group plc, Lumen Technologies Inc., AT&T Inc., Comcast Corporation, and KDDI Corporation.

COVID-19 Impact

The adoption of work-from-home during the pandemic has increased the global demand for NaaS. Increased demand has greatly contributed to the development of cloud network services, accelerating the growth of his NaaS market during the pandemic. Additionally, enterprise network licensing and software management components drive market growth through subscriptions.

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The global NaaS market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

• On the basis of organization size, the market is segmented into large enterprises and SMEs. The large enterprises captured a significant share of the market. This growth is due to the rapid adoption of cloud services such as IaaS, PaaS, and SaaS. Large enterprises implement cloud services for data storage and data centers for workload mobility. Additionally, emerging demand for subscription-based business models in cloud computing, network function virtualization (NFV), and SDN are driving NaaS adoption in large enterprises
• Based on end-user, the market is divided into banking and financial services, manufacturing, information and communication technology, retail, healthcare, and others. Factors such as increasing use cases and the adoption of cloud services and IT infrastructure in the information and communication technology industry are helping the industry to grow at a substantial CAGR. Network infrastructure plays a vital role in the IT and telecom sector as it minimizes the digital divide by providing fast network services, addressing bandwidth constraints at an affordable price

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NaaS Market Geographical Segmentation Includes:

• North America (U.S., Canada, and Rest of North America)
• Europe (Germany, UK, France, Italy, Spain, and the Rest of Europe)
• Asia-Pacific (China, India, Japan, and the Rest of Asia-Pacific)
• Rest of the World

North America captured a prominent share of the market in 2020 owing to the rapid adoption of cloud computing and Network as a Service among enterprises. Further, the presence of significant players such as Verizon Communications Inc., AT&T Inc., and Lumen Technologies Inc. among others, have propelled the growth of the market. Companies are investing tremendously in the research and development of data centers, and network infrastructure is also contributing to the growth of the market.

The major players targeting the market include

• Verizon Communications Inc.
• Telefónica S.A.
• Nippon Telegraph and Telephone Corporation
• Orange S.A.
• Vodafone Group Plc
• BT Group plc
• Lumen Technologies Inc.
• AT&T Inc.
• Comcast Corporation
• KDDI Corporation

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the  Network as a Service Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the NaaS market?
• Which factors are influencing the NaaS market over the forecast period?
• What are the global challenges, threats, and risks in the NaaS market?
• Which factors are propelling and restraining the NaaS market?
• What are the demanding global regions of the NaaS market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

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Network as a Service (NaaS) Market Report Coverage

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