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.

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