The Network as a Service (NaaS) market is expected to grow at a CAGR of 34.5% over the forecast period (2021-2026)

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New York, May 05, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Network as a Service Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06067790/?utm_source=GNW

– 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 mounting requirement for subscription (pay per use) business model, vast growth and development in network virtualization, cloud computing, software-defined networking (SDN), rising need for global connectivity and intensifying awareness about the economic benefits of (NaaS) are some of the drivers which in turn endowed the growth and evolution of this market.
– The WAN application segment is projected to hold the principal market size during the forecast period with the wide-spread adoption and acceptance of the WAN solutions across organizations in any industry or business verticals. WAN connectivity can be established to permit users to access private or public gateways based on the customer’s requirements.
– Enterprise networks are increasingly going under pressure with more and more users, applications, and devices than ever before, primarily relying on the network for seamless connectivity to a wide range of endpoints. Moreover, organizations today are increasingly interested in advanced management tools and new network architectures that can now leverage machine learning and artificial intelligence capabilities to create a self-driving or autonomous network. These advancements are also changing the way enterprises rely on the services from their partners and vendors.
– According to Aruba (HPE), with multiple IT projects having been delayed or postponed owing to the result of COVID-19, companies are planning to invest more in key capabilities for the new created demand by businesses and employees, from cloud and AI-based networking to analytics and assurance. As companies are trying to meet the challenge of supporting much more distributed teams, IT leaders across the globe are expected to adopt newer capabilities such as remote network management via the cloud, AI-based automation, and improved troubleshooting for networks that are facing greater demands than before.

Key Market Trends
WAN as a Service is Expected to Hold a Significant market Share

– The WAN as a Service segment is anticipated to hold a significant market size with the wide-spread adoption of the WAN solutions across organizations in various industry verticals. It provides a communication network through many resources, including mobiles, computers, remote offices, and data centers. WAN connectivity can be established to allow users to access private or public gateways based on the customer’s requirements.
– SD-WAN, alongside hybrid cloud service, network and application security, are the top priorities for businesses, with SD-WAN, one of the fastest witnessing industry adoptions in the past few years and can meet the requirements of next-generation technologies with a robust network built on agility, flexibility, scalability, security, and compliance and delivering an end-to-end premium customer experience by providing a wide array of branch services at sustainable costs.
– Service providers are antagonistically and aggressively building out and selling managed WAN offerings nowadays. Working swiftly to stay ahead of emerging “build it yourself” substitutes, providers are carving out their share of the WAN pie. If a service provider is already managing and handling the network, they’re well placed to plan, deploy and maintain an innovative, turnkey WAN solution for businesses as well.
– Also, according to Cisco, 46% of network devices will be M2M or IoT by 2020, which are vulnerable to attacks. In order to fully realize the potential of these connected devices, the manufacturers are needed to be equipped with WANs that are flexible to meet the network demands anticipated over the future. In such instances, the SD-WAN, which offers manufacturers the visibility of the number of devices connected and alsocustomize individual policies to govern a network’s traffic, therefore, has scope for adoption across manufacturing network environments over the forecast period.

North America is Expected to Occupy the Largest Market Share

– Inclining towards the implementation and acceptance of advanced technology, strong research, and development in the telecom industry, the surge in the number of cloud-based services and other factors are driving the Network as a Service (NaaS) market in North America. This region is expected to hold the largest market share during the forecast period.
– North America is anticipated to drive the network as a service market due to substantial research and development in technology related to network expansion, and technological maturity of data center and network infrastructure in the region.
– North America, the support and cradle of technological innovation, remains an indispensable and essential market and home to nearly half of the world’s major companies. Furthermore, the huge size and growth of the private and business sectors in the region are likely to boost the market.
– Moreover, vendors in the region are launching new services in order to stay competitive in the market. For instance, in Mar 2019, Oracle announced Oracle Service Logistics Cloud, the industry’s first, end-to-end solution that connects customer experience, field service, and supply chain operations within a single integrated cloud solution. By combining the Oracle Customer Experience Cloud and Oracle Supply Chain Management Cloud, Oracle Service Logistics Cloud will help service-based organizations in seamlessly managing their operations and provide a unified customer experience, while controlling costs.

Competitive Landscape
The network as a service market is highly competitive and consists of several major players. The market appears to be fragmented with the presence of multiple small and large players. The major players with a prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. Some of the major players in the market are AT&T Inc., Verizon Wireless Inc., Cisco System Inc., among others.

– Jan 2019 – IBM partnered with Juniper Networks to manage Juniper Network’s prevailing infrastructures, which include help desks, data centers, and data and voice networks. As per this trust, IBM would combine its services platform with Watson to manage Juniper Network’s infrastructure.
– Jan 2019 – Oracle announced to expand its cloud business with next-generation data center in Canada. The company’s next-generation cloud infrastructure provides the most flexibility in the public cloud, allowing companies to run traditional and cloud-native workloads on the same platform.

Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06067790/?utm_source=GNW

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