DUBLIN--(BUSINESS WIRE)--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.
- 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
- Lack of Standardization in the Network as a Service Market Technology
- Demand for SDN- and NFV-Based Solutions to Replace Traditional Approaches and Propel Market Growth
- 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
- Synnex Corporation
- DXC Technology
- Meta Networks
- Juniper Networks
- GTT Communications
For more information about this report visit https://www.researchandmarkets.com/r/2yncp6