Network-as-a-Service (NaaS) is a service that enables customers to purchase network and value-added services and computing and network resources as a service, from CSPs. NaaS reduces the overall cost and helps the organization keep up with ever-changing business requirements, rapid changes in technologies, new business applications, and security threats. NaaS is introduced to the customer along with a marketplace of services and applications in a single self-service portal. This enables customers to order and co-manage their services on-demand to improve agility and scalability capabilities. Increasing inclination toward cloud technology is anticipated to create a lucrative market during the forecast period. According to a study published by Insure Insights, the global Network-as-a-Service Market is expected to grow at a CAGR of 37.6% during the forecast period.
Top Driver: Rise in Preference Toward Reducing Operation Costs and Emerging Local Players
The rise in preference toward reducing operation costs and developing cost control techniques is a prominent driver of the market. In addition, NaaS offers an on-demand network service and pay-per-use pricing model, thereby gaining more traction in the customers. The rise in the number of emerging local players and the need for low-cost network services is anticipated to create abundant opportunities for market growth. However, the long-term recurring expense and data security & privacy concerns are the major factors hindering the growth of the market.
IT and Telecom to Make Crucial Contribution to Growth of Global Cognitive Computing Market
Among end use segment the IT and Telecom is anticipated to witness huge growth in the market. Other major segments in end use include Retail and E-commerce, Manufacturing, Healthcare, Transportation and Logistics, Public Sector. The manufacturing segment is expected to hold a larger share in the market. On the basis of type the market is segmented into LAN as a Service, WAN as a Service. The LAN as Service segment is expected to hold the largest market share owing to the increased commercial demand for network services.
Rising Advancements in IT infrastructure to Benefit North America Market
North America is anticipated to gain the highest revenue shares in the forecast period. The high penetration of cloud computing, advanced IT infrastructure, and increased concentration of the network virtualization solution vendors are anticipated to boost the NaaS adoption in the region. The increasing demand for high-performance computing infrastructure has increased the need for virtualized computing environments. Furthermore, the technology companies and the telecom service providers are improvising cloud platforms to reduce labor costs.
Players to Focus on Network as- a- service Market
The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Aerohive, Akamai, ALE, IBM, Amazon Web Services, Aryaka, AT&T, Brocade, Ciena, Cisco, Citrix, Cloudgenix, Cradlepoint, Level3 Communications, NEC, Juniper, Rackspace, Verizon, VMWare, Talari, Silver Peak, and Extreme Networks. among others could be at the forefront of the competition in the global market.
IBM: In January 2019, IBM had partnered with Juniper Networks to manage Juniper Network’s prevailing infrastructures, which include data centers, help desks, and data and voice networks. Furthermore, IBM would combine its services platform with Watson to manage Juniper Network’s infrastructure.
Oracle: In January 2019, Oracle had 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.
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