The global Network as a Service Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 19.0% during the forecast period, to reach USD 46.6 billion by 2027 from USD 13.2 billion in 2022. Key factors that are expected to drive the growth of the market are the rapid adoption of cloud services in the enterprises regardless of their size, witnessing growth in the infrastructure development of the new data centers and much more.
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As per type, the network security segment to grow at highest CAGR during the forecast period
The network as a service market by type is segmented into LAN and WLAN, WAN, communication and collaboration, and network security. As per type, the network security segment is expected to grow at the highest CAGR during the forecast period. Globally, there is a lot of corporate, private, and regulatory data on network connection. There have been significant social and economic losses as a result of the rise in cyberattack against businesses. Organizations have been required to invest more in security as a consequence, which is anticipated to drive the expansion of the network security segment over the course of the projected year.
Small and Medium-Sized Segment to grow at the highest CAGR during the forecast period
As per organization size, small and medium size Segment to grow at the highest CAGR for the network as a service market during the forecast period. The network as a service market by organization size is segmented into large enterprises and SMEs. SMEs adoption of contemporary IT infrastructures and operational processes optimization are two aspects anticipated to foster sector growth throughout the projected term. By combining cloud computing, automation, and virtualisation, a distribution system has been created that provides connection support for small enterprises much more affordably and reliably. Especially as they transition to automation, the clouds, and experiment with cutting-edge digital technologies, smaller businesses are expected to boost their IT investment, which will be beneficial to NaaS providers.
Network as a service had emerged as a new way for enterprises to flexibly consume network and enables to enhance security, increasing business agility and others. It provides a wide range of flexible services, such as multicast protocols, security services, virtual private networks (VPN) and bandwidth on demand, WAN, custom routing, content monitoring, and much more. For the connection requirements of data centers, businesses deploy NaaS components to transform physical networking components into sharable virtual resources. The majority of enterprises are working to integrate data from several sites into multi-tenant facilities in order to concentrate their operations. The main advantages of NaaS are the flexibility in service deployment, scalability, and elasticity for network enhancement as needed with a convenient pricing model and full automation, allowing users to programme, manage, and orchestrate networks while maximising productivity and concentrating on other business processes.
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Some of the key players operating in the network as a service market include AT&T (US), Verizon (US), Telefonica (Spain), NTT Communications (Japan), Orange Business Services (France), Vodafone (UK), BT Group (UK), Tata Communications (India), Lumen (US), Comcast Business (US), Axians (France), Servsys (US), TELUS (Canada), KDDI (Japan), Cloudflare (US), PCCW Global (China), China Telecom (China), Singtel (Singapore), China Mobile (China), GTT Communications (US), Aryaka Networks (US), Telia (Sweden), Telstra (Australia), Deutsche Telekom (Germany), Colt Technology Services (UK), Wipro (India), HGC (China), TenFour (US), PacketFabric (US), OnX Canada (Canada), Megaport (Australia), Epsilon (Singapore), IPC Tech (US), and Microland (India). These network as a service vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global network as a service market.
AT&T is a public corporation based in Dallas, USA, founded in 1983. It is one of the most well-known businesses in the communication and entertainment services sector which provides goods and services for voice, video, and broadband connections both domestically and internationally. It has four major business segments it which it deals: Business solutions, entertainment group, consumer mobility, and international. The company network services include AT&T managed threat detection and response, internet services, business Wi-Fi, and much more. Additionally, it provides voice and collaboration services that aid in productive, cost-efficient, and successful communication for its clients. It caters a broad range of customers from all over the world and has an extensive reach across the globe. It had given significant attention to the SME and large enterprise categories, which have a considerable potential for income generation in the NaaS market.
Verizon is a publicly held company which was founded in 1983 based in New York, USA. It is one the leading providers of communication, entertainment and information products and services for consumers, businesses and government agencies as well. It primarily conducts business through the following three business segments: corporates, business groups, and consumer groups. The Verizon NaaS platform aids in the delivery of dynamic applications and services to businesses, as well as the facilitation of cutting-edge technologies like 5G, multi-access edge computing, AI, ML, augmented reality, and others. Its service offering also covers managed LAN, wireless LAN, SD-WAN, and many other things. It enables businesses to increase operational performance, stay one step ahead of the competition, safeguard their networks, and spend less time training IT staff. Verizon provides customers with a complete networking solution and makes 5G network services available, also it support its employees and ensure business continuity, and provides its customers a reliable and secure network connectivity.
NTT communication is a public held company, which was founded in the year 1999 and based in Tokyo, Japan. It is the one of the subsidiary of Nippon Telegraph and Telephone Corp. NTT communication is a global technology service company which cater various industries such as education, retail, banking, healthcare and much more. It has its presence in more than 190 countries throughout the world. NTT provides a broad range of cutting-edge services, such as cloud, network, and security services, that assist clients in quickly boosting their competitiveness and developing new businesses as well. It offers a wide range of highly reliable enterprise network services, including VPN, hybrid, wide area network, cloud connectivity, and much more. Instant video and audio, communication platforms, workplace mobility, and identity access management services are all part of its solution. Additionally, it also provides UCaaS, SIP trunking, audio and video conferencing, services for international calls as well as.
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