MarketsandMarkets forecasts the global Network as a Service Market size to grow from USD 10.4 billion in 2021 to USD 37.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 29.4% during the forecast period. 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 Wi-Fi 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). The NaaS solutions provided by the companies enable enterprises to improve performance and reduce risk with an end-to-end network strategy for optimized efficiency, flexibility, and scalability.
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Network Security segment to grow at the highest CAGR during the forecast period
NaaS offers a strong set of security services that provide defense against malicious attacks with the provision of secure network policies, firewall-as-a-service, secure web gateways, network access control, and secure DDI. These network security services help businesses to protect networks from cyber threats, data breaches, intrusions, and detections. Network security is a broad term that comprises a set of technologies and tools designed to develop the secure flow of data and information over networks. Irrespective of size, businesses require a high degree of network security to protect their network infrastructure from the increasing cyber threats. In today’s digital world and remote work culture, incidences of network threats have increased exponentially all over the globe. The changing business model and hybrid network infrastructure are challenges for businesses in terms of securing network infrastructure. Attackers have found a hundred ways to exploit network infrastructure with DDoS attacks and vulnerabilities.
Small and Medium Sized Enterprises segment is expected to grow at the highest CAGR during the forecast period
Organizations with less than 999 employees are considered under the SMEs segment. These organizations struggle with a low network infrastructure budget, despite advancements in technologies. However, with the availability of low-cost cloud services and the as-a-service model, SMEs have shifted their focus on digital transformation to benefit from emerging technologies such as cloud, analytics, IoT, and SDN. Small businesses all over the globe are no exception when it comes to access to wired and wireless infrastructure. Every organization, irrespective of size, has adopted the mobile-first strategy to cope with the growing technology world and garner new business opportunities. The NaaS model has benefitted most SMEs. This model offloads the burden of managing the entire network infrastructure at a lower cost for network operation teams. In this way, business stakeholders can emphasize on their daily business activities by accessing continuous internet connectivity. Like global organizations, SMEs in emerging countries are moving toward the subscription-based model from the ownership model. Within the subscription or NaaS model, enterprises can opt to purchase any software or hardware device costing more than the as-a-service model.
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The key and emerging market players in the NaaS market include AT&T (US), Verizon (US), Telefonica (Spain), NTT Communications(Japan), Orange Business Services(France), Vodafone (UK), BT Group(London), Tata Communications(India), Lumen(US), Masergy(US), Servsys(US), TELUS(Canada), PCCW Global(China), KDDI(Japan), Cloudflare(US), ARYAKA NETWORKS(US), China Telecom(China), China Mobile(China), Singtel(Singapore), GTT Communications(US), Telia(Sweden), Telstra(Australia), Deutsche Telekom(Germany), Colt Technology Services(UK), HGC(China), TenFour(US),PacketFabric(US), OnX Canada(Canada), Megaport(Australia), Wipro(India), Epsilon(Singapore), Axians(France), IPC Tech(US), and Microland(India).These players have adopted various strategies to grow in the global NaaS market market.
AT&T is one of the prominent companies in the communication and entertainment service industry. The company offers products and their related services for voice, video, and broadband connections in domestic and global markets. It has a strong footprint in North America, especially in the US. The company’s network services include AT&T Business Wi-Fi, Internet Service, AT&T Managed Threat Detection and Response, Premises-based Firewall, Managed LAN, AT&T Network-based Firewall Service, Managed SD-WAN, Managed VPN, AT&T Business Wi-Fi, and Intrusion Detection and Prevention Service. AT&T also offers voice and collaboration services that help its customers to communicate effectively, reduce costs, and improve productivity.
Verizon is one of the world’s leading providers of communication, information, and entertainment products and services for consumers, businesses, and government agencies. The Verizon NaaS platform helps enterprise customer support to deliver dynamic applications and services, while it also helps to enable advanced technologies such as 5G, Multi-access Edge Computer (MEC), Artificial Intelligence/ Machine Learning (AI/ML), and Augmented Reality and Virtual Reality (AR/VR). Verizon’s managed network service portfolio includes managed WAN, managed SD-WAN, WAN optimization services, managed LAN, managed wireless LAN, managed SD Wireless LAN, software-defined secure branch, and secure gateway services. These services help enterprises to secure their networks, reduce the time they spend on training IT staff, improve business performance, and stay ahead of the competition. Its NaaS offering improves the speed, capacity, and flexibility of 450 HUB International offices throughout the US and Canada.
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