Post Covid-19 Update:Network As A Service Market To Reach USD 66.07 Billion By 2027 | CAGR 37.8% — Forencis Research
Global Network as a Service Market: Key Highlights
- According to the new market research report “Network as a Service Market by Type (LAN WAN), by Component (Bandwidth on Demand (BOD), Network Functions Virtualization (NFV), Data Center, WAN Connection, Others), by End Use Industry (BFSI, Healthcare, Retail, Transportation, IT & Telecommunication, Manufacturing, Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global Network as a Service market is estimated to reach USD 66.07 Billion by 2027 at a CAGR of around 37.8% during the review period.
- Network of the services is a selling of network services from third parties to end use customers those who don’t want to set their own network infrastructure
- NaaS consists of packages, networking sources, services, and applications as a product than can be buy for number of users for contracted period of time.
- There are various services are including in NaaS such as Wide Area Networking (WAN) connectivity, data center connectivity, bandwidth on demand (Bandwidth On Demand), security services, and other applications.
Global Network as a Service Market: Key Market Dynamics
- Rising demand of cloud services in small and medium scale industries and increasing infrastructure of new data centers are expected to drive the market during forecast period.
- Moreover, replacement of traditional approaches by SDN and NFV-based solutions will create opportunities for the NaaS market in growth period.
- However, security and privacy issues and lack of standardization will expected to restrain the growth of the market.
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Global Network as a Service Market: Regional Overview
- North America
North America will create dominance in the NaaS market during next five years. Suitable data center infrastructure, earlier adoption of wireless technologies, cloud technology, and developments in BFSI and retail sector will drive the market in this region. US, and Canada will help to grow NaaS market and dominate the market in North America. Moreover, presence of global players such as IBM, Cisco Systems Inc., AT&T, Juniper Networks, and VMware, Inc. will create major opportunities and developments in North America.
Asia-Pacific is expected to grow at faster rate during growth period. Increasing IT & telecommunication, healthcare, manufacturing, and retail industry grows the NaaS market in Asia-Pacific region. China, Japan, South Korea, and India will create opportunities for the NaaS market during growth period due to smart city initiatives, increasing need for data centers, and need for security in BFSI industry. In 2016, the company partnered with Netcracker to launched full-service NaaS Solution for fast track service.
Global Network as a Service Market: Key Players Overview
IBM engages in the provision of various products, services, and solutions in cloud, infrastructure, and security. In NaaS market, company provide various network services such as network architecture for resource isolation, load balancing, gateway appliances, interconnectivity services, content delivery, and domain name services. In May 2020, the company launched cloud satellite services that allow users to manage networking requirements for various application such as firewalls and auditing.
- NEC Corporation:
The company provides various products for computers, data storage, embedded systems, integrated it infrastructure, network products, software, and unified communications. In services, company provide services to 5G, big data analytics, biometric authentication, cloud, display & digital signage, energy, safety, smart city, and smart connectivity. In 2018, Etisalat implemented full-stack Network-as-a-Service (NaaS) solution developed by NEC Corporation and Netcracker Technology.
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