(MENAFN- America News Hour)
Some of the major network as a service market vendors are AT&T (US), Verizon (US), Telefonica (Spain), NTT Communications (Japan), Orange Business Services (France), Vodafone (UK), BT Group (UK), and Tata Communications (India).
network as a service market
size is expected to grow at a Compound Annual Growth Rate (CAGR) of 19.0% during the forecast period, to reach USD
46.6 billion by 2031
13.2 billion in 2031. NaaS complements connectivity services through various advanced technologies, including SDN, NFV, and SD-WAN. These technologies provide seamless connectivity by digitalizing various components of network connectivity and using software applications instead of hardware. SDN is a ground-breaking technology, which is poised to entirely revolutionize the existing networking and data center infrastructure.
As per application, virtual private network segment to grow at a the highest CAGR during the forecast period
As per application, virtual private network is expected to grow at the highest CAGR during the forecast period. The three main drivers fueling the virtual private network segment are an increase in database safety issues, a rise in sophisticated and comprehensive cybersecurity threats, and a development in the use of mobile and wireless gadgets within enterprises. Also the benefits of using a virtual private network, can be connected to the growth of the segment such as enabling network connectivity, evading geo-blocks, eliminating capacity limiting, and eliminating webstores discrimination.
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As per regions, Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
As per regions, the Asia Pacific is estimated to hold the highest Compound Annual Growth Rate (CAGR) of 30.2% in the network as a service market. The considerable expansion of the IT sector, the rapid uptake of cloud services by both large and small businesses, the expansion of new data centre infrastructure, and numerous technological innovations like smart devices (5G/IoT/VR/AR) can all be attributed to the Asia Pacific region's high growth rate.
As per end user, BFSI to have the highest market size during the forecast period
As per end user, BFSI is estimated BFSI to have the highest market size during the forecast period in the network as a service market. The end user segment of the network as a service includes BFSI, retail and eCommerce, software and IT, government, healthcare, manufacturing, education, media and entertainment, and others (transportation and logistics, hospitality, and energy and utilities). The Consumers are becoming more tech-savvy, forcing BFSI organizations to develop their technical capabilities and offer customers mobile banking solutions. Data protection is a priority in the banking industry. CIOs use secured wireless capabilities as a result to increase data protection, meet consumer needs, and provide consumers with new options. Since the majority of suppliers are providing consumers with extremely stable SD-WAN and Wi-Fi services, the penetration of the NaaS model has begun to increase in the BFSI end-user segment.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the network as a service market.
By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20% By Designation: C-Level Executives: 35%, D-Level Executives: 25%, and Managers: 40% By Region: APAC: 25%, Europe: 30%, North America: 30%, MEA: 10%, Latin America: 5%
The report includes the study of key players offering network as a service solutions and services. It profiles major vendors in the network as a service market. Some of the major network as a service market vendors are AT&T (US), Verizon (US), Telefonica (Spain), NTT Communications (Japan), Orange Business Services (France), Vodafone (UK), BT Group (UK), Tata Communications (India), Lumen (US), Comcast Business (US),
and Axians (France).
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The market study covers the network as a service market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as types, organization size, end users, applications, and regions. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall network as a service market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities
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