Network as a Service Market Size to Grow by USD 19,994.1 million from 2022 to 2027; Increasing use of cloud services by enterprises is notably driving the market growth - Technavio
NEW YORK , May 30, 2023 /PRNewswire/ -- Technavio categorizes the global network as a service market as a part of the Data Processing & Outsourced Services market. The global network as a service market size is estimated to increase by USD 19,994.1 million, growing at a CAGR of 19.9% from 2022 to 2027. The growth of the market depends on several factors, including the increasing use of cloud services by enterprises, the high reliability and security for mission-critical business applications, and the rising demand for widespread and high-speed network coverage.
This network as a service market report extensively covers market segmentation by end-user (IT and telecom, BFSI, manufacturing, healthcare, and retail and others), type (WAN as a service and LAN as a service), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
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Global Network as a service market – Vendor Analysis
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Global Network As A Service Market - Segmentation Assessment
Technavio has segmented the market based on End-user (IT and telecom, BFSI, Manufacturing, Healthcare, and Retail and others), Type (WAN as a service and LAN as a service), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
By geography, the global network as a service market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global network as a service market.
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Global Network As A Service Market – Market Dynamics
Leading Drivers - With the increasing acceptance of technology and growing consumer awareness of the cloud, there is a growing demand from businesses for cloud-based solutions as the technology enables users to easily access data from remote locations. Businesses' growing awareness of the importance of saving money and resources by moving data to the cloud rather than building and maintaining on-premises infrastructure is driving demand for cloud-based solutions among large enterprises and SMBs.
Key Trends - The growing inclination towards cloud technology is the main trend in the development of the global network services market. Increase in investment and collaboration with vendors and network virtualization from major vendors are driving the market growth. Businesses need networks that can access their applications, infrastructure, and other computing resources when needed.
Major challenges - The rising complexity of modern networks is a major challenge to the growth of the global network as a service (NaaS) market. Networks become more challenging to manage and monitor as they get bigger, more diverse, and more distributed. For this, more sophisticated network-as-a-service options are needed, ones that offer better network visibility and control. Large amounts of data, such as network traffic, device configurations, and performance metrics, are produced by modern networks.
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Table Of Contents :
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
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