The study undertaken by Astute Analytica foresees a tremendous growth in revenue of the Global Network-as-a-Service (NaaS) Market from US$ 15,326.9 Mn in 2021 to US$ 1,18,709.3 Mn by 2027, registering a CAGR of 40.7% during the forecast period 2022-2027. The growth in revenue of the Global Network-as-a-Service (NaaS) Market is attributed to increasing adoption of cloud services among enterprises and augmentation in software-defined network (SDN). With the appropriate use of NaaS offering, organizations can enhance the performance of their cloud applications. Furthermore, enterprise customers demand from communication service providers (CSPs) are high and rapidly evolving. Network as a Service (NaaS) is a lucrative opportunity for CSPs to offer the crucial enterprise segment. Not only does NaaS revolutionize the network, but it also delivers a service that improves enterprise customer experience and retention. However, data security and privacy concerns are likely to deter the progression of the global marketplace.
Market Trends
Technology services segment dominates the Global Network-as-a-Service (NaaS) Market in 2021
The technology services segment dominated the global Network-as-a-Service (NaaS) market with around 57.4% share in 2021. With the introduction of new technologies, the market for technology services is expected to be considerably higher than infrastructure services.
Enhanced mobile services has the fastest CAGR during 2022-2027
The wide area network services dominated the market with around 36.1% share in 2021. However, the enhanced mobile services segment is projected to grow at an astounding compounded annual growth rate during the forecast period. The growth of the segment is primarily because it provides additional connectivity for sites, remote workers, telecommuters, IoT devices plus additional bandwidth for aggregation. This, in turn, is leading to its increasing adoption across the globe.
Cloud-based services segment is projected to grow at a fastest CAGR during the forecast period
Cloud-based services segment is projected to grow at a fastest CAGR of 43.7% during the forecast period. To manage connectivity among remote enterprise sites and support Bring Your Own Device (BYOD) trend, the market for cloud-based services in network-as-a-service market is increasing at a rapid pace across the globe. Large organizations, as well as SMBs, are rapidly deploying these services to reduce the costs related to the procurement of new devices and IT staff training. Hence, this will foster the deployment of NaaS, eliminating the need to maintain their complex network setup.
Large Enterprise segment has the highest market share in 2021
The large enterprise dominated the market with market value of US$ 8,306.5 Mn in 2021. Initially, the network-as-a-service model is majorly adopted in large enterprises, backed by the high investment capital availability of the large enterprises. However, the small & medium enterprise segment is projected to grow at the fastest CAGR of 43.7% during the forecast period due to rapid increase in the number of small & medium enterprises in the emerging economies.
IT & Telecommunication dominates the Global Network-as-a-Service (NaaS) Market by end user industry
By end user industry, the IT & Telecommunication industry dominated the Global Network-as-a-Service (NaaS) Market. The penetration of cloud and networking technologies, which offers customers with on-demand network services and reduce expenditure on IT device procurement and maintenance will fuel the market growth.
North America has the largest hold of the Global Network-as-a-Service (NaaS) Market in 2021
North America is projected to have largest hold, with a share of around 40% in the global network-as-a-service market in 2021. The growth is owing to the early adoption of advanced technology solutions as well as prominent initiatives taken by industry players through partnerships with various technology players. Moreover, the penetration of cloud computing, advanced IT infrastructure, and higher concentration of the network virtualization solution vendors are expected to drive the NaaS adoption in the region.
A glance at the Competitors
Segmentation Overview
The Global Network-as-a-Service (NaaS) Market is segmented based on component, type, service model, enterprise size, end user industry and region. These segments are further sub-divided to get a holist picture of the market.
Following are the different segments of the Global Network-as-a-Service (NaaS) Market: -
By Component:
By Type:
By Service Model:
By Enterprise Size:
By End user:
By Region:
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