The global Network as a Service market (NaaS) is expected to grow at a significant CAGR during the forecast period (2024-2031). Network as a Service (NaaS) is the sale of network services from third parties to clients that don’t want to construct their own networking infrastructure. Network as a Service (NaaS) packages networking resources, services, and applications as a product that can be bought for a number of customers or users, usually for a contracted and defined period of time.
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Network as a service offers companies greater flexibility and even performance gains in their network infrastructure. With on-demand purchasing, companies can be more cost-conscious and pay only for the networking services they need. Network as a service (NaaS) can also help companies that want greater flexibility in provisioning without having to rearchitect networks or redo contracts from the ground up.
The rising adoption and implementation of the cloud for data storage and introduction of big data analytics is backing and contributing to the growth of the Network as a Service market. In addition, the rapid growth and evolution in IoT technologies also support the growth and development of the global NaaS market.
The major players of the global NaaS market include Verizon Communications Inc., IBM Corp., Cisco Systems, Inc., Oracle Corp., among others. In order to maintain a strong position in the market, these market players are adopting various strategic moves, such as product launches, partnerships, collaborations, and mergers and acquisitions.
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Recent Strategic Initiatives-
- In March 2021, SDx Networks, a provider of managed service to companies with a global reach, partnered with Masergy to officially launch Australia’s next generation of ICT Managed Service Providers. The collaboration aims to deliver cloud networking in Australia, New Zealand, and Asia-Pacific, and Masergy can expand its global footprint through this partnership, as well as its brand-awareness. Additionally, Masergy integrated its AIOps feature which is set into its SD-WAN solutions to enhance its SASE capabilities. As a result, Masergy AIOps acts as a virtual network engineer, automating the evaluation of network and security performance and making recommendations for optimization.
- In February 2021, Masergy enhanced its Masergy Unified Communications as a Service (UCaaS) solution by adding collaboration with Cisco Webex. The solution consolidates Masergy’s hosted UC calling platform and Cisco Webex into a single application experience which allows clients to add Masergy’s Managed SD-WAN Secure connectivity services. UCaaS solutions integrated with network services improve the end-user experience.
- In November 2020, Mist Systems, a Juniper Networks company, announced the first AI-driven self-driving network for the enterprise, which leverages Mist’s AI engine and microservices cloud to streamline IT operations, simplify troubleshooting across wired/wireless domains and deliver optimized experiences to network users.
Market Coverage
- Segment Covered-
o By Type
o By Industry Verticals
- Competitive Landscape: Verizon Communications Inc., IBM Corp., Cisco Systems, Inc., Oracle Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Network as a Service (NaaS) Market Report Segmentation
By Type
- LAN-as-a-Service
- WAN-as-a-Service
By Industry Vertical
- BFSI
- Healthcare
- Retail and E-Commerce
- IT & Telecom
- Manufacturing
- Government
- Others
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