Network as a Service Market Size to Reach USD 103.24 Billion in 2030 | Emergen Research

Q: What is the projected market size of NaaS by 2030?

The NaaS market is expected to reach USD 103.24 billion by 2030.

Q: What is the CAGR for the NaaS market from 2022 to 2030?

The NaaS market is projected to have a CAGR of 22.4% during this period.

Q: Which companies are major players in the NaaS market?

Major players include Cisco Systems, Cloudflare, and Verizon.

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The Network as a Service (NaaS) market reached USD 16.65 billion in 2021, with a projected CAGR of 22.4% from 2022 to 2030, potentially hitting USD 103.24 billion by 2030. NaaS facilitates scaling of IT infrastructure, enabling companies to outsource network management, thus reducing costs and improving agility. However, challenges include complex deployments and a predicted shortage of 85 million tech workers by 2030, leading to potential delays and increased operational costs. Major players include Cisco Systems, Cloudflare, and Verizon.

Positive

Projected market growth from USD 16.65 billion in 2021 to USD 103.24 billion in 2030.
CAGR of 22.4% indicates strong demand for NaaS solutions.
NaaS allows businesses to reduce operational costs and improve scalability.

Negative

Complex deployment procedures may hinder market growth.
Global shortage of 85 million tech workers by 2030 could increase operational costs.

01/19/2023 - 01:00 PM

VANCOUVER, B.C., Jan. 19, 2023 /PRNewswire/ -- The network as a service market size reached USD 16.65 Billion in 2021 and is expected to register a CAGR of 22.4% during the forecast period, according to latest analysis by Emergen Research. Network as a Service (NaaS) is significantly deployed for scaling IT infrastructure by replacing hardware-centric virtual private network (VPN) and multiprotocol label switching (MPLS) connections. Many IT organizations are incorporating network as a service (NaaS) to improve the speed, agility, and scalability of workloads.

Network as a Service (NaaS) allows IT clients to easily scale their network resources as needed and reduces the cost and complexity of managing a network. Some examples of NaaS providers include Cisco Systems Inc, Cloudflare, Inc., Verizon Communications Inc., and others. Network as a Service (NaaS) is expected to continue as more organizations seek to take advantage of flexibility, scalability, and cost-effectiveness by deploying NaaS solutions. Additionally, introduction of 5G networks and the internet of things (IoT) in functional areas of business are significantly driving demand for more advanced networking capabilities.

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Drivers:

Increasing utilization of network as a service in digital transformation of businesses is driving revenue growth of the market. NaaS enables businesses to outsource their network infrastructure and management to a third-party provider to scale and manage network resources efficiently. Additionally, internet penetration in digital transformation of business is significantly supporting the growth of the market. According to The International Telecommunication Union (ITU), globally 5.3 billion people, or 66 % of the world's population are using the internet in 2022. Moreover, several organizations are using network as a service (NaaS) for saving costs by eliminating the requirement for in-house network management. Network as a Service (NaaS) reduces costs by introducing new virtualized network infrastructure processes for hardware, software, operations, and maintenance. NaaS enables businesses to access advanced network features and technologies, such as software-defined networking (SDN) and network functions virtualization (NFV). This allows companies to stay competitive in the digital landscape and to adapt more quickly to changing business needs. Furthermore, network as a service (NaaS) providers charges a monthly subscription-based cost for network function virtualization (NFV) and bandwidth on demand, which enables enterprises to leverage their monthly IT budget. These factors are considerably accelerating market expansion.

Restraints:

Complex deployment procedures of NaaS tools and global shortages of experienced information technology (IT) are restraining growth of the market. Deploying a network as a service in API-based operation, software-defined networking (SDN), programmable networking, WAN services, hybrid cloud, and multi-cloud distribution includes complex deployment structures for integrating with current IT environment. These network distribution parameters significantly impact organizational operational costs. Moreover, global shortages in skilled experienced IT professionals may hinder the growth of the market. According to, International Monetary Fund (IMF), there will be a global shortage of more than 85 million tech workers by 2030, which is representing USD 8.5 trillion in loss of annual revenue. These factors may lead to delays in implementing NaaS and other advanced technologies and may also lead to increased costs as organizations find and retain qualified IT professionals. These factors are restraining the growth of the market.

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Growth Projections:

The network as a service market is expected to register a CAGR of 22.4 % over the forecast period and revenue is projected to increase from USD 16.65 Billion in 2021 to USD 103.24 Billion in 2030. Subscription-based network as a service (NaaS) to deliver enterprise-wide area network (WAN) services.

Current Trends and Innovations:

The network as a service market is undergoing gradual changes during the forecast period. Network as a Service (NaaS) technology ensures network infrastructure and connectivity services are delivered over the internet as a fully managed service. This allows organizations to outsource the management and maintenance of their network infrastructure to a third-party provider, rather than having to manage it in-house. This can help to reduce costs and improve the scalability and flexibility of network infrastructure. The NaaS industry is significantly expanding as businesses are deploying network infrastructure, connectivity services and virtual network services in functional business areas.

Strategic Initiatives:

Major companies included in the market report are Cisco Systems Inc, Cloudflare, Inc., Hewlett Packard Enterprise Development LP, Verizon Communications Inc., Nokia Corporation, Dell Inc., Tata Communications Limited, Cato Networks Ltd., Amdocs Management Limited, Palo Alto Networks, Inc., Perimeter 81 Ltd., ALE USA Inc., NTT Communication and among others.

On January 2023, Major market players of network as a service (NaaS) market NTT DATA partners with intelligent cloud networking company Aviatrix to provide business critical cloud network-as-a-service (NaaS). NTT DATA Business Solutions will deliver seamless services to Aviatrix to provide vital SAP application services to enterprise clients, enabling them to bypass the limitations of native cloud services such as AWS, Azure, and Google Cloud in terms of networking, security, visibility, and multiload capabilities.

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Scope of Research

Report Details	Outcome
Market size in 2021	USD 16.65 Billion
CAGR (2022–2030)	22.4 %
Revenue forecast to 2030	USD 103.24 Billion
Base year for estimation	2021
Historical data	2019–2020
Forecast period	2022–2030
Quantitative units	Revenue in USD Billion and CAGR in % from 2022 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Type, organization size, application, industry vertical, and region
Regional scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope	U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiled	Cisco Systems Inc, Cloudflare, Inc., Hewlett Packard Enterprise Development LP, Verizon Communications Inc., Nokia Corporation, Dell Inc., Tata Communications Limited, Cato Networks Ltd., Amdocs Management Limited, Palo Alto Networks, Inc., Perimeter 81 Ltd., ALE USA Inc., NTT Communication and among others
Customization scope	10 hours of free customization and expert consultation

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Emergen Research has segmented network as a service market on the basis of basis of type, application, organization size, industry vertical, and region

Type Outlook (Revenue, USD Billion; 2019-2030)

WAN as a service
LAN as a service

Organization Size Outlook (Revenue, USD Billion; 2019-2030)

Large Enterprises
Small and medium enterprises

Application Outlook (Revenue, USD Billion; 2019-2030)

Virtual private network
Bandwidth on demand
Multi-branch connectivity
WAN Optimization
Secure web gateway
Others (Integrated network security as a Service)

Industry Vertical Outlook (Revenue, USD Billion; 2019-2030)

IT and Telecommunication
Banking and financial services
Healthcare
Retail and e-commerce
Transportation and logistics
Manufacturing
Government
Others

Regional Outlook (Revenue, USD Billion; 2019-2030)

North America

U.S
Canada
Mexico

Europe

Germany
U.K
Italy
Spain
Benelux
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Rest of APAC

Latin America

Brazil
Rest of LATAM

Middle East & Africa

Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA

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