Network as a Service Market Report by Type (LAN-as-a-Service, WAN-as-a-Service), Application (Cloud-based Services, Bandwidth on Demand, Integrated Network Security-as-a-Service, Wide Area Network, Virtual Private Network), End Use Industry (Healthcare, B

Network as a Service Market Report by Type (LAN-as-a-Service, WAN-as-a-Service), Application (Cloud-based Services, Bandwidth on Demand, Integrated Network Security-as-a-Service, Wide Area Network, Virtual Private Network), End Use Industry (Healthcare, BFSI, Retail and E-Commerce, IT and Telecom, Manufacturing, Transportation and Logistics, Public Sector), and Region 2024-2032

The global network as a service market size reached US$ 19.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 170.6 Billion by 2032, exhibiting a growth rate (CAGR) of 26.5% during 2024-2032. The market is experiencing steady growth driven by the escalating demand for robust security services, increasing adoption of remote working models to maintain work-life balance, and rising adoption of software-defined networking (SDN) and network virtualization.

Network as a Service Market Analysis:

• Major Market Drivers: The network as a service market outlook is experiencing robust growth on account of the increasing adoption of cloud services, digital transformation initiatives, and the need for flexible, cost-efficient networking solutions.
• Key Market Trends: The market is primarily driven by scalability and flexibility, cost-efficiency, technological advancements, 5G adoption, and the rising need for secure connectivity.
• Geographical Trends: North America leads the market due to its advanced technological landscape and considerable reliance on 5G technology. However, Asia Pacific is emerging as a fast-growing market on account of digital transformation initiatives and emerging markets
• Competitive Landscape: Key players in the market are focusing on research and development (R&D), innovation, strategic partnerships, and global expansion efforts to stay competitive. Sustainability and energy efficiency are emerging priorities in the competitive landscape.
• Challenges and Opportunities: Challenges include cybersecurity threats, data privacy concerns, and the need to ensure compliance with regulations. Nonetheless, opportunities for addressing these challenges through advanced security measures, expanding into emerging markets, and catering to evolving customer needs, particularly in the era of remote work and IoT integration are projected to overcome these challenges.

Network as a Service Market Trends:

Scalability and Flexibility

NaaS solutions are based on scalability and flexibility which are fundamental elements. The rapidly changing business environment creates a need for the capability to quickly scale network resources and to be responsive to new requirements. Through NaaS, companies are being empowered with this indisputable requirement. As for a business becoming facing an unusual condition of growing as well as a fluctuating point of a network demand for instance, a service market is seasonality or market dynamics, NaaS provides a means to expand and contract the capacity of the network without effort at all. Another crucial element of NaaS is its in-built elasticity which enables businesses to bring dynamic changes to the network layout and service levels. The flexibility can be unfolded in organizations that experiment with new network configurations, rapid application deployment, and fine-tuning of networks to specific situations, which is one of the benefits of network as a service. Through NaaS, businesses have a unique opportunity for their network infrastructure to be completely in alignment with their strategic agenda, consequently increasing their responsiveness and efficiency while facing the market’s dynamicity. What is more, NaaS provides the possibility to rapidly expand geographically and also to efficiently support the remote workforce. With the expansion of a company and growth, NaaS helps to further render network services to new points of presence thus maintaining rootedness and collaboration. The network-as-a-service (Naas) market is expected to reach USD 79.47 billion by 2030, which is USD 8.78 billion in 2022, at a CAGR of 31.70% during the forecast period.

Cost-Efficiency

Conventional networking standard is highly capitalized for initial physical infrastructure costs and up-to-date operational expenses. NaaS brings digital transformation by going through the conventional model where businesses simply pay for the network services they use and not as a full ownership package. It is the fact that this is a pay-as-you-go method that finances only consumption which makes capital expenditure and operational costs significant.

Polices commits on its part, NaaS providers offer centralized C2B tools for cost control and transparency. Organizations can track and analyze real-time network usage and make intelligent decisions as well as place nearly perfect cost of management. This liberation of budget is however foremost during uncertain economic states where wise resource allocation is required. The business continuity of NaaS also reduces the total cost ownership (TCO) by automating network management procedures, removing the professional in-house services, and decreasing off-time due to maintenance and upgrade. This is one of the main factors that make NaaS remain a favorable solution to firms that care the amount they spend on IT wherever they want their networks performance and strength to be the same as stand-alone technologies. The scalability of NaaS provides an extra advantage as businesses can now easily expand their network assets when they need and shrink them when they do not, thus running without the excess network provisioning and extra costs. Such agreeable cost-effective approach is entirely consistent with the objectives for efficient allocation of resources in contemporary organizations today.

Technological Advancements

Technological developments majorly mold Naas into the present and future of innovation. As noted, another element besides the use of software-defined networking (SDN) and network virtualization can contribute so much to this influence. The SDN technologies detach a network control plane from the underlying physical layer, leading to a more dynamic and programmable network architecture. Hence, the fact that these processes can be performed more independently of each other saves time for optimization and allocation of resources, and, therefore, reduces the labor efforts required to maintain the network. In parallel with SDN, the emergence of network virtualization permits software developers to create virtual network function (VNF) software: firewalls, load balancers, and routers, among others. With the provision, scaling, and management of these VNFs being easily done, providing a helping hand in contributing to the flexibility and agility of NaaS solutions. Technologically evolutionary leap assists the NaaS provider to deliver the results more productively and solutions that are more flexible and versatile, that can fulfill the present needs of modern business. Automation, along with artificial intelligence (AI) is all over the place now, having a crucial impact on the peculiarities of the NaaS concept. Network automation eliminates hassles in provisioning, monitoring, as well as rectifying errors, which eventually lead to enhanced efficiency, reduced errors, and minimal downtime. AI-powered analytics are strengthening the network security part by detecting and neutralizing threats as real-time action. Such technological advancements are thus acting together to bring into existence more powerful-looking NaaS solutions for those organizations eager to make their networks top-notch using these latest technologies.

Network as a Service Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, application, and end use industry.

Breakup by Type:

• LAN-as-a-Service
• WAN-as-a-Service

WAN-as-a-Service accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the type. This includes LAN-as-a-Service and WAN-as-a-Service. According to the report, WAN-as-a-Service represented the largest segment.

WAN-as-a-Service being the largest area of the NaaS (Network as a Service) market, faces the biggest demand of services among the other services. The next part of supply chain extends the limit of the network of the company outside the focus of the local zone; therefore, it brings together remote locations. WAN-as-a-Service solutions provide businesses with the option for getting set up quickly with secure and high-performance wide area networks at low capital investment cost rather than investing in their infrastructure. The need for WAN-as-a-Service arises as a result of the rapid evolving of business actors whose geography is an important driver and also the increasing significance of uninterrupted connectivity between data centers, branch offices and the cloud. As employee mobility and cloud acceptance soars, WAN-as-a-Service will likely continue growing as it provides the critical linkage for remote workforce and fast-paced data swapping between different parts of the globe.

Intrinsically for network as a service market statistics, WaaS involved which is part of SD-WAN infrastructure revenues, is expected to be far over 13 billion dollars in 2023 all over the world with a compound annual growth rate (CAGR) of 31.8% from 2022 to 2027. SD-WAN deployment takes the help of a software app which forms a virtual network above the hardware by the centralized controller.

Breakup by Application:

• Cloud-based Services
• Bandwidth on Demand
• Integrated Network Security-as-a-Service
• Wide Area Network
• Virtual Private Network

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes cloud-based services, bandwidth on demand, integrated network security-as-a-service, wide area network, and virtual private network.

Breakup by End Use Industry:

• Healthcare
• BFSI
• Retail and E-Commerce
• IT and Telecom
• Manufacturing
• Transportation and Logistics
• Public Sector

IT and telecom represent the leading market segment

The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes healthcare, BFSI, retail and e-commerce, IT and telecom, manufacturing, transportation and logistics, and public sector. According to the report, IT and telecom represented the largest segment.

IT and telecommunication is the major in the NaaS market, due to the diverse demand from consumers for high-speed and stable information. IT/telecoms companies are hiring network solutions to empower them with robust and scalable networks for transferring large amounts of data, global connectivity, as well as telecommunications infrastructure. NaaS supply network for the industry their clients efficiently in this market by offering services which make it easier to connect the new technologies, transfer the data and manage the network. Despite the constant changes in telecommunications and the 5G environments adoption, NaaS is critical in helping IT and telecom players to develop their competitive advantage and meet every current mobile communication level, which is one of the key features of network as a service.

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

North America leads the market, accounting for the largest network as a service market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

Cloud services become the most significant venue for the North America network as a service market growth. The service wholesale broadband providers are providing ensure that corporate businesses can have access to cloud platforms, data centers, and SaaS applications and that is the reason why they are having a large market share. Implementation of the trends such as the remote and hybrid worker models is causing for a need on NaaS infrastructure solutions that will provide secure and reliable remote access. The region holds the number one spot in this industry: in 2022, the market in the region accounted for 41.89%, of which the technological maturity of its data centers and network infrastructure is the primary growth driver.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the network as a service industry include Akamai Technologies Inc., AT&T Inc., Broadcom Inc., Ciena Corporation, Cisco Systems Inc., GTT Communications Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Juniper Networks Inc., Nokia Corporation, Oracle Corporation, Telstra Corporation Limited, Verizon Communications Inc., VMware Inc. (Dell Technologies Inc.), etc.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

The key players in the network as a service (NaaS) market are actively pursuing strategies aimed at expanding their market presence and addressing evolving customer needs. They are heavily investing in research and development (R&D) to innovate and enhance their NaaS offerings, focusing on technologies, such as software-defined networking (SDN), automation, and security. Additionally, these players are forming strategic partnerships and collaborations to extend their reach and provide comprehensive solutions. They are also working on global expansion efforts, tapping into emerging markets with substantial network-as-a-service market growth potential. Furthermore, sustainability and energy efficiency are becoming priorities, with investments in green networking solutions and data center optimization. Overall, the key players are committed to delivering advanced, scalable, and secure NaaS solutions to meet the demands of an increasingly interconnected world.

Network as a Service Market News:

• February 2023: Akamai Technologies Inc. announced the launch of Akamai Connected Cloud, an extremely distributed edge and cloud platform used for cloud computing, security, and content delivery that maintains applications and experiences closer and threats farther away.
• September 2023: AT&T Inc. launched fixed wireless home internet service, which is a robust wireless network for small business owners who operate out of their homes.
• March 2022: GTT Communications Inc. announced the launch of its new Secure Connect, which offers to expand and strengthen the security of the enterprise network connecting to the internet and accessed by users from anywhere.

Key Questions Answered in This Report:

• How has the global network as a service market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global network as a service market?
• What is the impact of each driver, restraint, and opportunity on the global network as a service market?
• What are the key regional markets?
• Which countries represent the most attractive network as a service market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the network as a service market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the network as a service market?
• What is the breakup of the market based on the end-use industry?
• Which is the most attractive end-use industry in the network as a service market?
• What is the breakup of the market based on the region?
• Which is the most attractive region in the network as a service market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global network as a service market?