Network As A Service (Naas) Market Size to grow by USD 37511.1 million between 2024-2028
According to a research report “ Network As A Service (Naas) Market” by End-user (IT and telecom, BFSI, Manufacturing, Healthcare, Others) Type (WAN-as-a-service, LAN-as-a-service) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 37511.1 million, at a CAGR of 27.17% during the forecast period. In today's business landscape, the shift towards cloud-based solutions is a significant trend, with over 60% of corporate data now being stored in the cloud, according to Thales Group's 2022 report. This trend is driven by the growing recognition among companies of the financial and resource benefits of moving their data to the cloud instead of maintaining on-premise infrastructure. The advantages of cloud environments, including enhanced security, reliability, and business agility, are compelling more enterprises and SMEs to adopt Network as a Service (Naas) offerings. As a result, the demand for cloud services is expected to continue growing robustly during the forecast period..
Browse market data tables, figures, and in-depth TOC on “Network As A Service (Naas) Market” by End-user (IT and telecom, BFSI, Manufacturing, Healthcare, Others) Type (WAN-as-a-service, LAN-as-a-service) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By End-user, the IT and telecom segment is projected to dominate the market size in 2024
In the Network as a Service (Naas) market, IT and telecommunication industries held the largest revenue share in 2023. This dominance is attributed to the increasing utilization of cloud services and IT infrastructure, which has led to the proliferation of use cases in this sector. Network infrastructure plays a pivotal role in IT and telecommunication, bridging the digital divide by delivering swift network services and addressing bandwidth constraints at economical costs. Shared active and passive infrastructure facilitates high-speed Internet access and enables networks to expand profitably. With the rise of business offerings, the demand for enhanced customer experiences, and the necessity for regulatory compliance, Naas solutions have become indispensable for IT and telecommunication companies, particularly in the context of 5G networks.
By Type, WAN-as-a-service segment is expected to hold the largest market size for the year 2024
The WAN as a Service (WaaS) segment held a significant market share in the global Network as a Service (NaaS) market in 2023. This cloud-based WAN model offers a replacement for traditional WAN systems, which are reliant on hardware. WaaS employs advanced connectivity protocols, such as Multiprotocol Label Switching (MPLS), to ensure seamless information transfer. The segment's growth can be attributed to the increasing adoption of deployment and integration types by various industry verticals, including manufacturing, healthcare, and retail. This adoption enables the effective implementation of complex networking solutions, streamlining business processes and enhancing overall efficiency.
North America is forecasted to hold the largest market size by region in 2024
The Network-as-a-Service (Naas) market offers businesses the opportunity to outsource their network infrastructure needs, enabling them to focus on their core competencies. Naas solutions provide scalable, reliable, and secure network services, reducing capital expenditures and offering flexible contract terms. Companies can leverage Naas to improve network performance, enhance security, and ensure business continuity. Naas solutions are particularly beneficial for organizations undergoing digital transformation or experiencing rapid growth.
The Network As A Service (Naas) Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Network as a Service (NaaS) market is a significant segment of the IT sector, offering cloud-based services to various service sectors including BFSI, healthcare, construction, engineering, and project operations. NaaS provides operational automation and IT optimization, enabling organizations to manage their network infrastructure more effectively. However, the adoption of NaaS comes with operational risks, such as security vulnerabilities and dependency on external providers. The cost structure of NaaS is subscription-based, allowing businesses to pay only for the services they use, making it a cost-effective solution for enterprise IT. Major players in the NaaS market include SingTel Cloud, Comcast Business, Lumen, and Verizon. These providers offer WAN services, remote monitoring, and project management tools to help organizations manage their network infrastructure more efficiently. The hybrid working model has accelerated the demand for NaaS, as organizations look for reliable and flexible network solutions to support their distributed workforce. Cloud services, including NaaS, are becoming essential for businesses to remain competitive and adapt to the evolving IT landscape. Organizational resources are increasingly being allocated to cloud computing, as NaaS offers a more agile and scalable alternative to traditional network infrastructure.
Market Research Overview
The Network as a Service (Naas) market is a segment of the cloud computing industry that offers IT sectors and service sectors access to network infrastructure and services on a subscription basis. Naas provides product features such as operational automation, IT optimization, hybrid cloud distribution, Software-Defined Networking (SDN), and API-based operation. However, operational risks like complex deployment procedures, lack of standardization, and the need for skilled cybersecurity professionals pose challenges. The cost structure includes ongoing subscription fees and potential additional costs for advanced features. Naas caters to various industries like transportation, hospitality, retail, utilities, logistics, and automation, among others, enabling cloud-based networking solutions such as SD-WAN and SD-Branch. Naas also supports the Internet of Things (IoT), machine-to-machine communication, and wireless communication. Major players in the Naas market include SingTel Cloud, Talent Works, and cloud-based services from Comcast Business, Lumen, and Verizon. Organizations can leverage Naas for project operations, application lifecycle management, business process management, SaaS PPM, and network security infrastructure, including firewalls, VPNs, and VLANs. As businesses adopt hybrid working models, Naas becomes increasingly important for data-center connectivity, WAN connection, and cloud services. Security and regulatory compliances are essential considerations, making Naas an attractive solution for BFSI, healthcare, construction, engineering, and other industries. Small vendors are also entering the market, adding competition and innovation to the Naas landscape.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
