CHICAGO, July 18, 2022 /PRNewswire/ — According to a new market research report “Network as a service market by Type (LAN and WLAN, WAN, Communication and Collaboration, and Network Security), Organization Size (Large Enterprise and SMB), Application, End User (BFSI, Manufacturing, Healthcare), and Region – Global Forecasts up to in 2027″, published by MarketsandMarkets™, the global Network as a Service market size is expected to grow at a compound annual growth rate (CAGR) of 19.0% during the forecast period, to reach $46.6 billion by 2027 from $13.2 billion in 2022. Virtual private networks (VPNs), MPLS trunks, and other outdated network architectures can all be replaced by NaaS. Additionally, it can take the place of on-premises network infrastructure like load balancers and firewall appliances. Enterprise network architecture has been significantly affected by NaaS, a newer approach to routing traffic and enforcing security requirements.
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Based on type, network security segment is expected to grow at the highest CAGR during the forecast period
The Network as a Service market by Type is segmented into LAN & WLAN, WAN, Communication & Collaboration, and Network Security. Based on the type, the network security segment is expected to grow at the highest CAGR during the forecast period. Globally, there is a lot of corporate, private, and regulatory data about connecting to the network. The increase in cyberattacks against businesses has resulted in significant social and economic losses. As a result, organizations have had to invest more in security, which is expected to drive the expansion of network security segment in the projected year.
Small & Medium Business Segment is Expected to Grow at the Highest CAGR Over the Forecast Period
Based on organization size, the small and medium business segment is expected to grow at the highest CAGR for the network as a service market during the forecast period. The network as a service market by organization size is segmented into large enterprise and SME. The adoption by SMEs of contemporary IT infrastructures and the optimization of operational processes are two aspects expected to promote the growth of the sector throughout the projected period. By combining cloud computing, automation and virtualization, a distribution system has been created that provides connection support for small businesses in a much more affordable and reliable way. Especially as they transition to automation, cloud, and experiment with cutting-edge digital technologies, small businesses are expected to increase their IT investments, which will benefit NaaS providers.
Depending on the region, North America have the highest market size during the forecast period
Depending on the region, North America to have the highest market size during the forecast period. The United States is a major contributor to the expansion of the market by North America. Early acceptance of cutting-edge technical solutions as well as notable evaluation of the program by industry stakeholders through collaborations with multiple industry participants are both responsible for the increase. The network-as-a-service market North America is growing due to the widespread adoption of cloud computing, sophisticated IT infrastructure, and increasing consolidation among leading organizations in the industry.
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Some of the main Network as a service market providers are AT&T (US), Verizon (US), Telefonica (Spain), NTT Communications (Japan), Orange Business Services (France), Vodafone (UK), BT Group (UK), Tata Communications (India), Lumen (US), Comcast Business (US), Axians (France), Servsys (USA), TELUS (Canada), KDDI (Japan), Cloudflare (US), PCCW Global (China), China Telecom (China), Single (Singapore), China Mobile (China), GTT Communications (USA), Aryaka Networks (USA), Telia (Sweden), Telstra (Australia), Deutsche Telekom (Germany), Colt Technology Services (UK), Wipro (India), HGC (China), TenFour (US), PacketFabric (US), OnX Canada (Canada), Megaport (Australia), Epsilon (Singapore), IPC Tech (USA) and Microland (India).
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