According to the research report titled ‘Network as a Service (NaaS) Market Size By Type (LAN as a Service, WAN as a Service, Bandwidth on Demand (BoD), VPN as a Service, Managed Services), By Enterprise Size (Large Enterprises, SMEs), By Application (IT & Telecom, BFSI, Manufacturing, Healthcare, Government & Public Sector, Retail), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Italy, Netherlands, Russia, China, India, Japan, Australia & New Zealand (ANZ), South Korea, Southeast Asia, Brazil, Mexico, Argentina, Colombia, Chile, South Africa, Saudi Arabia, UAE, Qatar, Bahrain), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’ available at MarketStudyReport.com, the global network as a service (NaaS) market is expected to exceed USD 50 billion by the year 2025.
 

According to the report, surging investments in 5G network commercialization coupled with increasing utilization for broadband services are major factors driving the network as a service market growth. There has been an upsurge in adoption of cloud-based networking technologies. This factor coupled with growing demand for cost efficient networking solutions is further aiding the market expansion. Emergence of network virtualization has enabled companies to minimize the costs associated with management and maintenance of physical infrastructure. Moreover, introduction of strict government regulations pertaining to data privacy and security is fostering the demand for NaaS solutions across the globe. Also, rising adoption for SDN (software defined networking) services and SD-WAN solutions is stimulating the industry outlook.
 

As per type, the report states that BoD (bandwidth on demand) segment is expected to grow with a CAGR of 39% between 2019 and 2025, primarily driven by its capability of providing better control over the network connectivity parameters. Moreover, rising demand for short-duration bandwidths in applications such as medical surgeries, conferences, seminars, and sports event is contributing towards popularity of bandwidth on demand services across the globe.
 

In terms of enterprise size, large enterprises segment is expected to hold 55% share of network as a service market by the year 2025. Shifting preference of large enterprises towards virtual network infrastructure in order to avoid expenditure on managing and maintaining physical infrastructure is fueling the segmental growth. Network as a service allows enterprises to utilize their network with better agility, dynamism, and flexibility.
 

Based on the application spectrum, network as a service market from IT & telecom applications is presumed to hold 25% share by the year 2025. Various IT & telecom companies are adopting SDN technologies owing to its low operational cost as compared to traditional network infrastructure, thus favoring the market outlook.
 

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As per the regional analysis, the report states that Asia-Pacific network as a service industry is expected to grow by 40% by the year 2025. Surging demand for virtualization in order to reduce complexities and cost of physical network infrastructure is augmenting the regional market share.
 

The prominent companies operating in the network as a service market are VMware, Inc., Verizon Communications, Inc., Talari Networks, Inc. (Oracle), Silver Peak Systems, Inc., Rackspace Holdings, Inc., NEC Corp., Juniper Networks, Inc., IMB Corp., Extreme Networks, Inc., Cradlepoint, Inc., CloudGenix, Inc., Citrix Systems, Inc., Cisco Systems, Inc., Ciena Corporation, Century Link, Inc., Broadcom Ltd., AT&T, Inc., Aryaka Networks, Inc., Amazon Web Services, Inc., Alcatel-Lucent Enterprise (Nokia Networks), Akamai Technologies, Inc., and Aerohive Networks, Inc.