Rising Adoption Of Cloud Computing To Boost Demand In Global Network As A Service Market

Network As A Service Market

For an organization, the operation and installation of wide area network, routers, and other components like firewalls, is a tedious task. Network as a service, also known as NaaS, is a virtual network model that provides WAN services to organizations.

The rising adoption of cloud computing techniques by small and medium enterprises is likely to fuel the growth of global network as a service market. The technique is gradually moving the workload to the cloud. The surge in data generated by several digital platforms with the developing trend of employee mobility has put stress on the organization network. Resultantly, the firms are moving to cloud technology as it helps host a variety of business applications. The cloud-based NaaS assists in installing applications driven by several network functions like virtual routers, virtual firewalls, and service differentiation.

The network as a service market development is also credited to the widespread acceptance of network virtualization technology, for example, network capacities virtualization and software-characterized networking. This will give a platform to NaaS and allow ventures to sell their network services to clients based on subscription. The rising need for low-latency along with elite infrastructure, data security, redundancy, and shared expense models are stimulating the cloud computing industry globally, consequently accelerating the network as a service market. Nevertheless, the slow adoption of cloud innovation inferable from security-related issues in organizations utilizing cloud techniques may hinder the growth of the global network as a service market.

The global network as a service market is broadly divided into component, profession, application, vertical, and region. The component segment is bifurcated into software and hardware. In terms of profession, the global market is sub-divided into Training Support Services, Consulting Support Services, Maintenance Support Services, Regulation & Compliance Services, Public Portal Services, and Others. Based on application, the market is segregated into cloud backup & recovery, cloud-based storage, cloud security & data privacy, high-performance computation & analytics, and web-based application. Based on vertical, the global network as a service market is fragmented into gaming, BFSI, government, IT &telecom, academia & education, healthcare, and others.

Geographically, North America is estimated to lead the global network as a service market within the forecast period. This is attributed to rising R&D activities on the latest technologies, with respect to network expansion. In addition, the existence of the developed nations in the region is also likely to contribute to the regional growth, coupled with rising demand for the service in private and industrial sectors.

The leading players in the global network as a service market are Aerohive, Akamai, Amazon Web Services, AT&T, ALE, Aryaka, Brocade, Ciena, Citrix, Cisco, etc. In January 2019, IBM and Juniper partnered to deal and improve Juniper’s network in terms of infrastructure. It includes data centers, help desks, and voice & data networks.