Executive Summary:

The global Network as a Service (NaaS) market is projected to grow at a CAGR of 33.5% during the forecast period (2021-2028). The market is driven by factors such as the increasing adoption of cloud-based services, the growing need for scalable and flexible networking solutions, and the rising demand for virtualization. The Asia Pacific region is expected to witness significant growth during the forecast period, owing to the increasing adoption of cloud-based services in the region.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights:

• The global Network as a Service (NaaS) market size was valued at USD 3.73 billion in 2020 and is projected to grow at a CAGR of 33.5% during the forecast period.
• The growing need for scalable and flexible networking solutions is driving the growth of the NaaS market.
• The Asia Pacific region is expected to witness significant growth during the forecast period, owing to the increasing adoption of cloud-based services in the region.

Market Drivers:

1. Increasing Adoption of Cloud-Based Services: The growing adoption of cloud-based services is driving the growth of the NaaS market. With the increasing demand for cloud-based services, organizations are looking for scalable and flexible networking solutions to manage their network infrastructure.
2. Growing Need for Scalable and Flexible Networking Solutions: The need for scalable and flexible networking solutions is increasing due to the changing business needs and the growing number of remote workers. NaaS provides organizations with a scalable and elastic solution that can be easily customized to meet their changing business needs.
3. Rising Demand for Virtualization: The rising demand for virtualization is driving the growth of the NaaS market. NaaS enables organizations to deploy and manage their network infrastructure from a central location, providing them with a highly virtualized and flexible solution.

Market Restraints:

1. Security Concerns: One of the major challenges faced by the NaaS market is security concerns. As the networking services are provided over the internet, there is always a risk of security breaches and data theft.
2. Lack of Technical Expertise: Another major challenge faced by the NaaS market is the lack of technical expertise. As NaaS is a highly technical solution, organizations need to have the technical expertise to manage and deploy the network infrastructure.

Market Opportunities:

1. Increasing Demand from Small and Medium-Sized Enterprises (SMEs): The increasing demand for cost-effective and scalable networking solutions from SMEs is creating opportunities for the NaaS market. SMEs are increasingly adopting cloud-based services, and NaaS provides them with a cost-effective and scalable networking solution.

2. Emergence of 5G Networks: The emergence of 5G networks is creating opportunities for the NaaS market. As 5G networks require a highly flexible and scalable networking solution, NaaS provides an ideal solution for organizations looking to deploy 5G networks.
3. Increasing Adoption of Software-Defined Networking (SDN): The increasing adoption of Software-Defined Networking (SDN) is creating opportunities for the NaaS market. NaaS provides a highly virtualized and flexible solution that can be easily customized to meet the changing business needs of organizations adopting SDN.

Market Dynamics:

The NaaS market is highly dynamic and is driven by various factors such as the increasing adoption of cloud-based services, the growing need for scalable and flexible networking solutions, the rising demand for virtualization, and the emergence of 5G networks. The market is also constrained by factors such as security concerns and the lack of technical expertise.

Regional Analysis:

The NaaS market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific region is expected to witness significant growth during the forecast period, owing to the increasing adoption of cloud-based services in the region.

Competitive Landscape:

Leading companies in the Network as a Service (NaaS) Market:

1. Cisco Systems, Inc.
2. Juniper Networks, Inc.
3. VMware, Inc.
4. Aryaka Networks, Inc.
5. Ciena Corporation
6. Nokia Corporation
7. Colt Technology Services Group Limited
8. Extreme Networks, Inc.
9. AT&T Inc.
10. Verizon Communications Inc.

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation:

The NaaS market is segmented based on service type, organization size, vertical, and region. Based on service type, the market is segmented into VPN, WAN, and SDN. Based on organization size, the market is segmented into SMEs and large enterprises. Based on vertical, the market is segmented into BFSI, IT and Telecom, healthcare, government and public sector, and others.

Category-wise Insights:

Based on service type, the SDN segment is expected to witness significant growth during the forecast period, owing to the increasing adoption of SDN. Based on organization size, the SMEs segment is expected to witness significant growth, owing to the increasing demand for cost-effective and scalable networking solutions from SMEs. Based on vertical, the BFSI segment is expected to dominate the market, owing to the increasing demand for secure networking solutions in the BFSI sector.

Key Benefits for Industry Participants and Stakeholders:

1. Cost-Effective Solution: NaaS provides a cost-effective solution for organizations looking to deploy and manage their network infrastructure.
2. Scalable and Flexible Solution: NaaS provides a highly scalable and flexible solution that can be easily customized to meet the changing business needs of organizations.
3. Virtualized Solution: NaaS provides a highly virtualized solution that can be easily managed from a central location.

SWOT Analysis:

Strengths:

• Cost-effective solution
• Scalable and flexible solution
• Virtualized solution

Weaknesses:

• Security concerns
• Lack of technical expertise

Opportunities:

• Increasing demand from SMEs
• Emergence of 5G networks
• Increasing adoption of SDN

Threats:

• Competition from traditional networking solutions
• Cybersecurity threats

Market Key Trends:

1. Emergence of 5G Networks: The emergence of 5G networks is a key trend in the NaaS market, as 5G networks require a highly flexible and scalable networking solution.
2. Increasing Adoption of SDN: The increasing adoption of SDN is a key trend in the NaaS market, as NaaS provides a highly virtualized and flexible solution that can be easily customized to meet the changing business needs of organizations adopting SDN.

Covid-19 Impact:

The Covid-19 pandemic has had a significant impact on the NaaS market. With the increasing number of remote workers and the need for remote access to network infrastructure, the demand for NaaS solutions has increased significantly. The pandemic has also accelerated the adoption of cloud-based services, creating opportunities for the NaaS market. However, the pandemic has also highlighted the importance of cybersecurity, and organizations are increasingly concerned about the security risks associated with NaaS solutions.

Key Industry Developments:

1. Cisco Systems, Inc. launched its NaaS solution, Cisco Managed Services Accelerator, in 2020. The solution provides organizations with a highly flexible and scalable networking solution that can be easily customized to meet their changing business needs.
2. Juniper Networks, Inc. acquired Apstra, a provider of Intent-Based Networking (IBN) solutions, in 2020. The acquisition is expected to strengthen Juniper’s NaaS portfolio and enable it to provide a highly virtualized and flexible solution to its customers.

Analyst Suggestions:

1. Organizations should focus on security and ensure that their NaaS solutions are secure and compliant with industry standards.
2. Organizations should also focus on selecting the right NaaS provider and ensure that the provider has the technical expertise to deploy and manage the network infrastructure.

Future Outlook:

The NaaS market is expected to witness significant growth during the forecast period, owing to the increasing adoption of cloud-based services, the growing need for scalable and flexible networking solutions, and the rising demand for virtualization. The emergence of 5G networks and the increasing adoption of SDN are also expected to create opportunities for the NaaS market.

Conclusion:

The NaaS market is a highly dynamic and competitive market that is driven by various factors such as the increasing adoption of cloud-based services, the growing need for scalable and flexible networking solutions, and the rising demand for virtualization. The market is also constrained by factors such as security concerns and the lack of technical expertise. Organizations should focus on selecting the right NaaS provider and ensure that their NaaS solutions are secure and compliant with industry standards.

The NaaS market is expected to witness significant growth during the forecast period, and organizations should focus on leveraging NaaS solutions to gain a competitive advantage. They should also stay up-to-date with the latest trends and developments in the market, such as the emergence of 5G networks and the increasing adoption of SDN. The future outlook for the NaaS market is promising, and organizations should take advantage of the benefits that NaaS solutions offer, such as cost-effectiveness, scalability, flexibility, and virtualization.