Network as a Service Market Size, Share and Global Market Forecast to 2027

 

Network as a service Market

The Network as a Service Market is projected to expand at a healthy CAGR of 29.9% over the forecast period and expected to reach USD 48,713 million by 2027.

The factors driving the growth of Network as a service Market includes growing demand for cloud computing, rising adoption of 5G Network Services and Internet of Things and increase in the number of new data infrastructure across the globe. According to the report published by Bloomberg, the global 5G services market is anticipated to reach USD 1.67 trillion by 2030, growing at a CAGR of 52.0% during the forecast period (2022-2030), which will boost the Network as a Service Market size in the upcoming years. Moreover, the emerging demand for virtual resource-sharing platforms and NFV- based solutions and Cloud-based services ability to improve scalability and mobility, are some of the additional factors influencing the growth of Network as a service Market. In addition, the increasing demand for subscription business models and software-defined networking (SDN), are expected to play a key role in the overall market growth.

However, the growth of Network as a service Market is hindered due to data privacy and reliability concerns.

The prominent players operating in the market are Hewlett Packard Enterprise Development LP, Synnex Corporation, IBM, Oracle, Cisco, Juniper Networks, Inc., Verizon, DXC Technology Company, AT&T and VMware, Inc. among others.

Type – Segment Analysis

As per the Network as a Service Market Research Report, the WAN as a service segment is projected to lead the market during the forecast period due to growing demand for WAN Solutions in healthcare and Telecom sector and its ability to meet technological requirements. According to Economics Times, the Telecom Industry in India will witness a 10% growth during the Q4 FY2020 due to tariffs hike, which will increase the market growth in India.

Industry Vertical – Segment Analysis

Based on the industry vertical, IT and telecom segment is predicted to lead the market during the forecast period because of extensive application of Network as a Service market for reducing the cost of business operations by Small and Medium Enterprises.

Regional – Segment Analysis:

Based on the region, the North American region is anticipated to dominate the market over the forecast period. The increasing investments in research and development by the leading players for developing advanced solutions and growing adoption of Wi-Fi-as-a-service and LAN-as-a-services are accelerating the growth of Network as a service Market in North America.

Market Segmentation

Global Network as a service Market by Type

  • LAN as a Service
  • WAN as a Service

Global Network as a service Market by Industry Vertical

  • Healthcare
  • BFSI
  • Retail and E-commerce
  • IT and Telecom
  • Manufacturing
  • Transportation and Logistics

Global Network as a service Market by Component

  • Infrastructure Services
  • Technology Services

Global Network as a service Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

Location: United States

Comments

Post a Comment

Popular posts from this blog

Seizing the Europe Smart Home Market Opportunity

Image
 The Europe smart home market presents a vast and promising opportunity for businesses and consumers alike. With advancements in technology, changing lifestyles, and increasing awareness about energy efficiency, the smart home industry in Europe is ripe with potential for growth and innovation. The opportunity in the Europe smart home market stems from several key factors. Firstly, the region boasts a large and affluent consumer base that is increasingly embracing connected technology to enhance their lifestyles. From smart thermostats and lighting systems to security cameras and voice-controlled assistants, the demand for smart home devices is on the rise across the continent. Moreover, supportive regulatory initiatives and incentives aimed at promoting energy efficiency and sustainability are creating a conducive environment for the adoption of smart home technology in Europe. Tax incentives, rebates, and subsidies for energy-efficient home upgrades are encouraging homeowners to...
Read more

Unlocking Opportunities: GCC Medical Packaging Market Growth in 2024

Image
The GCC medical packaging market is poised for substantial growth in 2024, driven by factors such as technological advancements, increasing healthcare spending, and a focus on patient safety. The region's growing population, coupled with rising demand for quality healthcare services, is fueling the expansion of the medical packaging sector. Let's explore the key drivers and opportunities contributing to the growth of the GCC medical packaging market this year. One of the primary drivers of market growth is the continuous innovation in medical packaging technologies. Companies are investing in advanced packaging materials, designs, and functionalities to meet the evolving needs of healthcare providers and patients. Smart packaging solutions equipped with sensors, RFID tags, and tracking capabilities are enhancing product safety, supply chain visibility, and real-time monitoring. This technological progress is driving the adoption of intelligent packaging solutions and fueling m...
Read more

Riding the Wave: India Wireless Earphone Market Surges Amidst Growing Demand

Image
 The India Wireless Earphone Market is witnessing remarkable growth, buoyed by an increasing demand for wireless audio solutions and a shift towards a wireless lifestyle. With consumers seeking convenience, mobility, and superior audio quality, wireless earphones have emerged as a must-have accessory in today's digital age, driving significant market expansion. One of the key drivers of growth in the India Wireless Earphone Market is the rising penetration of smartphones and smart devices. With smartphone ownership becoming ubiquitous across urban and rural areas, there is a growing need for wireless earphones that complement these devices seamlessly. As consumers look for hassle-free connectivity and on-the-go audio solutions, the demand for wireless earphones continues to surge, fueling market growth. Moreover, technological advancements in wireless audio technology are driving market expansion. Innovations such as true wireless earbuds, active noise cancellation, and advanced B...
Read more