MarketsandMarkets expects the global Network as a Service (NaaS) market size to grow from USD 4.3 billion in 2018 to USD 21.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 38.3%

LONDON, March 21, 2019 /PRNewswire/ -- Accelerated adoption of cloud services among enterprises to drive the global NaaS market

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MarketsandMarkets expects the global Network as a Service (NaaS) market size to grow from USD 4.3 billion in 2018 to USD 21.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 38.3% during the forecast period. The key factors driving the NaaS market include accelerated adoption of cloud services among enterprises, and an increase in the development of new data center infrastructures.

WiFi type to contribute the largest share during the forecast period
WiFi-as-a-Service (WaaS) is a cloud-based wireless internet connectivity offered through on-demand subscription basis by various service providers.It comprises access points, WLAN controllers, wireless hotspot gateways, and among others.

Cloud-based WiFi services are more powerful than maintaining the hardware equipment, hence organizations are increasingly moving toward WaaS as a primary means to connect with the world. WaaS can be availed through two types: high-density Wi-Fi and enterprise-class Wi-Fi.

Infrastructure service to hold the largest market size during the forecast period
The NaaS networking solution providers offer cloud-based infrastructure connectivity that includes various networking solutions, including virtual machine, servers, load balancers, network switches, memory, and storage.These services are offered by third parties to customers who do not want to invest in building their own networking infrastructure.

Zero upfront costs, scalability, flexibility, and security are some of the benefits offered by this service. Infrastructure services are standardized, highly automated offering, where compute resources, storage, and networking capabilities are owned and managed by a service provider and offered to the users based on pay-as-you go model.

Asia Pacific (APAC) to record the highest growth rate during the forecast period
Growing cloud adoption and vendor expansion are expected to drive the APAC NaaS market during the forecast period.The high rate of internet usage and increased adoption of smartphones in APAC facilitate companies to adopt advanced solutions and forge strong connections with a wide range of target audiences.

In addition, APAC is witnessing an increasing demand for cloud-driven based network connectivity solutions, resulting in increasing investments and technological advancements across the retail and eCommerce industry vertical.

In-depth interviews were conducted with the Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the NaaS market.
• By Company – Tier 1 – 22%, Tier 2 – 30%, and Tier 3 – 48%
• By Designation – C-Level – 25%, Director Level – 30%, and Others – 45%
• By Region – North America – 12%, Europe – 42%, APAC – 26%, and RoW – 20%

Major vendors in the global NaaS market include IBM (US), Oracle (US), Cisco (US), Verizon (US), AT&T (US), VMware (US) DXC (US), HPE (US), SYNNEX (US), Juniper Networks (US), NEC Corporation (Japan), Ciena Corporation (US), Aryaka Networks (US), Arista (US), Extreme Networks (US), Meta Networks (Israel), GTT (US), Masergy (US), Telstra (Australia), Silver Peak Systems (US), Global Cloud Xchange (India), NETSCOUT (US) and CenturyLink (US).The study includes in-depth competitive analysis of these key players in the NaaS market with their company profiles, recent developments, and key market strategies.

Research coverage
The NaaS market revenue is primarily classified into revenues from solutions, tools, and platforms.The revenue is associated with software and platform offerings associated with support and maintenance, training and education in addition to the consulting services.

Other segmentation comprises type, component, application, industry vertical, and region.

Key benefits of the report
The report would help the market leaders/new entrants in the market with the information on the closest approximations of the revenue numbers for the NaaS market and the subsegments.The report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with the information on the key market drivers, restraints, challenges, and opportunities.

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