Network as a Service Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)

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New York, July 21, 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
05% during the forecast period of 2021-2026. 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.

– 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 to that, the rapid growth and evolution in IoT technologies also support the growth and development of Network as a Service market.
– 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.
– Virtualization in the data center for workload mobility brought efficient resource utilization, increased availability, and helped drive down costs, and the public sector now realizes those profits to sustain revenues through augmented competition from service providers. The same can be said for the contracts and services that bring connectivity to sites like the wide-area network (WAN).
– 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.

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.
– The General Services Administration has been working with agencies to transition them into its USD 50 billion Enterprise Infrastructure Solutions contract, which will enable agencies to modernize their network infrastructures and embrace new architectures, including NaaS. Modern network automation tools can help an agency reduce costs, create efficiencies and gain a long-term competitive edge.
– Recently in December 2020, Geoverse, a private cellular network operator, announced the launch of its Network as a Service (NaaS) platform, which enables enterprises, OEMs, systems integrators, and other partners to easily introduce new functionality for private cellular networks serving the enterprise. Depending on the budget and performance requirements, the NaaS service can be deployed quickly and easily using the GeoCore Cloud EPC, or for maximum performance and minimum latency, the GeoCore On-Prem EPC can be deployed on-site.
– Moreover, in March 2021, NuRAN Wireless Inc. announced that further to its previously disclosed NaaS contract with Orange Cameroon SA announced on October 29, 2020, Orange exercised its option under the agreement for adding an additional 120 networking sites in Cameroon. The original contract for 122 sites entered into by NuRAN and Orange is the NaaS contract with expected gross revenues of up to CAD 20 million over the term of the agreement.

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.

– March 2021 – SDx Networks 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.
– February 2021 – Verizon Business expanded its long-standing strategic partnership with Cisco, with the addition of three new SD WAN managed services offerings. This expansion provides enterprise businesses with an extensive global footprint, access to new solutions and capabilities, as well as an innovative management and policy administration model to support the desired business outcomes.
– November 2020 – Wipro Limited plans to deliver managed Software-Defined Wide Area Network (SD-WAN) transformation services to Olympus leveraging Cisco technology. As a part of this engagement, Wipro will use its proprietary managed network services solution, #WANFreedom to re-architect Olympus’s WANs and enable support across distributed applications in a hybrid multi-cloud environment. Wipro’s managed SD-WAN #WANFreedom services are enabled by Cisco’s global Secure SD-WAN Managed Services Partner (MSP) Program.
– October 2020 – VMWare acquired Saltstack to broaden its automation capabilities, including software configuration management, network automation, and infrastructure automation. SaltStack offers robust configuration compliance and vulnerability management capabilities, which have been integrated into vRealize to help support customers’ SecOps practices.

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