Network As A Service (Naas) Market Size to grow by USD 37511.1 million between 2024-2028
The Network As A Service (Naas) Market is segmented by End-user (IT and telecom, BFSI, Manufacturing, Healthcare, and Others), Type (WAN-as-a-service and LAN-as-a-service), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). As per the Global Forecast research report 2024-2028 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. There are several companies that are contributing to the market as per this report. Increasing inclination toward cloud technology .
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.
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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.
Why is North America forecasted to hold the largest regional market size 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.
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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
In the Network as a Service (Naas) market, key inputs encompass strategic partnerships with infrastructure providers, financing arrangements, and logistics services from local transportation companies. Establishing robust relationships with these suppliers is crucial, as well as implementing advanced inventory management systems for effective stock control. The workforce comprises skilled professionals, including management and marketing experts, overseeing the direct operations. In today's data-driven business landscape, companies must identify and assess various data sources for internal and external problem-solving purposes. Meticulously maintaining an inventory of reliable data sources and associated metadata is essential for informed decision-making. - The Network As A Service (Naas) Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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