Global Network as a Service Market segmentation by Component (Infrastructure Services, Technology Services), by Type (LAN-as-a-Service, WAN-as-a-Service), by Applications (Virtual Private Network, Wide-area network, Cloud-based services, Bandwidth on demand, Integrated Network Security as a Service), By End User (BFSI, Manufacturing, Automotive, Retail and eCommerce, Telecom and IT, Media and Entertainment, Healthcare, Education, Transportation and Logistics, Government and Public Sector and Others), by Region (North America, Europe, APAC, MEA& Africa and Latin America).
The Network-as-a-Service (NaaS) is an outsourcing model for the virtual network services across the Internet. The dominant service providers offer necessary network hardware for the end users on the subscription basis, which is cost-effective and provides complete network solution. The rise in inclination toward the reduction of operation costs and proliferation of the cost control techniques are primary drivers of the market. Further, NaaS provides on demand network service and pay-per-use pricing model, which makes it one of the popular technologies in the market.
However, dependability on the vendor for total network solution and downtime of network limit the adoption of the NaaS.
Global Network as a Service Market is segmented by component, by type, by applications, by end users and by region. By end user, IT & telecom end user held 31.25% of market share in 2019 and is expected to keep its dominance over forecast period. Increasing demand for network as a services to reduce expenditure on IT device procurement and maintenance is mainly driving the growth of this segment over forecast period.
By applications, Bandwidth on Demand (BoD) segment held 35.56% of market share in 2019 and is expected to keep its dominance over forecast period. The massive adoption of business-oriented applications in various sectors such as healthcare, manufacturing, government, and retail. Such applications demand higher levels of connectivity and bandwidth to support business needs. This facilitates the adoption of a NaaS model, which will support the BoD services and allow enterprises to overcome the bandwidth silos and enable bandwidth-intensive applications to meet their needs.
By geography, global network as a service market segmented into North America, APAC, Europe, Latin America and Europe. Among all of these region North America held 41.56% of market share in 2019 and is expected to keep its dominance over forecast period. An increasing penetration of cloud computing, advanced IT infrastructure, and higher concentration of the network virtualization solution vendors are expected to drive the NaaS adoption in the region.
Report covers key development and company profiles of market leaders, potential players and new entrants. Some of the key players covered in this report are 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) among others. These key players are adopting various inorganic and organic growth strategies such merger& acquisitions, expansions, joint ventures, strategic alliances, collaborations, new product launches and patent to increase their regional presence and business opeartions.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Network as a Service Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Network as a Service Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Network as a Service Market positioning of competitors.
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