The World Market for Network-as-a-Service (NaaS) 2019-2023: Anticipating a CAGR of 38.3% - ResearchAndMarkets.com

The "The
World Market for Network-as-a-Service (NaaS) 2019-2023" report
has been added to ResearchAndMarkets.com's offering.

The global Network as a Service (NaaS) market is projected 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 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
segmentations comprises type, component, application, industry vertical,
and region.

Companies have been adopting the NaaS model as it provides various
benefits, such as significant cost savings, improved security, and
increased business agility. NaaS solutions allow enterprises to focus
and extend the range of their business offerings without sacrificing
quality or content. Moreover, cloud-based deployments, such as WiFi as a
service, offer features such as centralized management and remote
troubleshooting with the help of cloud access points, thereby reducing
the overall Capital Expenditure (CAPEX) and Total Cost of Ownership
(TCO).

Among industry verticals, the telecom and IT industry is expected to
hold the largest market size of USD 741.8 million in 2018 and would
reach USD 3,611.9 million by 2023 at a Compound Annual Growth Rate
(CAGR) of 37.2% during the forecast period. The education sector is
expected to reach 1,865.4 million by 2023 owing to the increased usage
of smart devices and the large number of educational institutions moving
to eLearning and smart education. The retail and eCommerce vertical is
expected to have a higher growth rate during the forecast period. Among
the 2 NaaS types, LANaaS is expected to hold the largest market size of
USD 3,177.3 million in 2018, whereas WANaaS segment is expected to grow
at the highest CAGR of 47.6% from 2018 to 2023.

Market Dynamics

Drivers

• Accelerated Adoption of Cloud Services Among Large and Small
  Enterprises
• Increase in Development of New Data Center Infrastructures
• Rise in SDN Integration With Existing Network Infrastructures

Restraints

• Lack of Standardization in the Network as a Service Market Technology

Opportunities

• Demand for SDN- and NFV-Based Solutions to Replace Traditional
  Approaches and Propel Market Growth

Challenges

• Limited Bandwidth Providers and Lack of Access to High-Speed Internet
• Data Security and Privacy Concerns
  

Network as a Service Market: Regulations

• Virtual Ethernet Port Aggregator (VEPA)
• Virtual Extensible Local Area Network (VXLAN)
• Transparent Interconnection of Lots of Links (Trill)
• Shortest Path Bridging (SPB)
• Fiber Channel Over Ethernet (FCOE)
• Network Virtualization Using Generic Routing Encapsulation (NVGRE)
• Data Center Bridging (DCB)
• Priority Flow Control (PFC) 802.1qbb
• Bandwidth Management (802. 1qa Z)
• Data Center Bridging Exchange (DCBX)
  

Network as a Service Market: Use Cases

• Juniper Networks: Providing Greater Networking Agility
• Aryaka: Gaining Faster Application Performance

Company Profiles

• AT&T
• Verizon
• Cisco
• Synnex Corporation
• DXC Technology
• IBM
• NEC
• HPE
• Meta Networks
• Masergy
• Juniper Networks
• VMware
• Telstra
• Centurylink
• Oracle
• GTT Communications

For more information about this report visit https://www.researchandmarkets.com/r/2yncp6

View source version on businesswire.com: https://www.businesswire.com/news/home/20190523005259/en/