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 with MarketStudyReport, global network as a service (NaaS) market is estimated to be worth USD 50 billion by the year 2025.

Soaring trend of pay-per-use pricing schemes, rising demand for cost-effective solutions for firms, and widespread adoption of software-defined networks (SDN) by small & medium enterprises (SMEs) are factors propelling the growth of global network as a service (NaaS) market.

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Uptake of cloud-enabled network virtualization platforms given the mass acceptance of cloud-based networking technologies is further accelerating the industry development.

Besides, huge influx of investments employed in 5G networks, increasing penetration of broadband networks, and supportive government regulations regarding data security are pushing the product uptake to a great extent.

In terms of product type, the Bandwidth on Demand (BoD) segment is projected to rise at 39% CAGR during the analysis period, as such networks enable customization of connectivity parameter to offer control over the network. Moreover, the capacity to deal with uncertain traffic in networks is attracting multiple vendors and carriers which is fueling the segmental expansion. 

As per enterprise size, the large enterprises segment of worldwide network as a service (NaaS) industry is anticipated to account for a 55% revenue share during the predicted timeframe, owing to the shifting preference towards virtual networks across these organizations so as to minimize spending associated with maintaining the physical infrastructure. Moreover, enhanced security, improved Quality of Service (QoS), and surging level of uptime are bolstering the adoption in large-scale enterprises. 

From the application standpoint, the IT & telecom segment is speculated to retain a 25% revenue share over the forecast period, given the fact that majority of companies have switched their network hardware to SDN to build a centralized framework. Additionally, the cost-effective nature of operations is driving the progress of the vertical. 

Concerning regional outlook, Asia Pacific network as a service (NaaS) industry is poised to observe a 40% CAGR during the review period, attributed to the rising demand for virtualization to reduce costs and complexities involved in the physical network infrastructure. Also, the strict government policies on data protection particularly in countries like Japan and Singapore are making the companies deploy cloud-based network infrastructure, thus facilitating regional market growth. 

The key players in market are International Business Machines (IBM) Corporation, Aerohive Networks, Inc., Extreme Networks, Inc., Akamai Technologies, Inc., Cradlepoint, Inc., CloudGenix, Inc., Alcatel-Lucent Enterprise, Citrix Systems, Inc., Amazon Web Services, Inc., Cisco Systems, Inc., Aryaka Networks, Inc., Ciena Corporation, AT&T, Inc., Lumen Technologies, Inc. (previously Century Link, Inc.), and Broadcom, Inc. among others.