Saturday, June 25 2022

New York, June 09, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Network as a Service Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https:/ /www .reportlinker.com/p06067790/?utm_source=GNW
67% over the forecast period 2022-2027.

Highlights
One of the major growth drivers for the Network as a Service (NAAS) industry includes an increase in new data center infrastructure around the world. The increased adoption and implementation of the cloud for data storage and the introduction of big data analytics, as well as virtualization in the data center for workload mobility, have led to inefficient use resources, increased availability and reduced overall costs, as well as reliability and security for critical business applications.
The market is further influenced by the growing need for subscription (pay-as-you-go) business models in network virtualization, cloud computing, software-defined networking (SDN) and increased usage of services in the cloud by large and small businesses.
Network-as-a-Service (NaaS) offers companies greater flexibility and performance gains in their network infrastructures. With on-demand shopping, businesses can be more cost-conscious and only pay for the networking services they need. Network as a service (NaaS) can also allow businesses that want greater provisioning flexibility without having to reorganize networks or redo contracts from scratch.
Although NaaS offers excellent benefits, the specific challenges, such as reliability issues, may hamper the market growth over the forecast period. Hiring a third-party network infrastructure provider to host critical business infrastructure involves the belief that the providers business can sustain the relationship with them. If vendors fail to maintain market competition, businesses that rely on them may have to replace critical pieces of infrastructure entirely because doing business is not possible.
Since the outbreak of COVID-19, the demand for cloud-based solutions has grown significantly, due to the remote working model adopted by companies. However, various industries, such as retail, manufacturing, BFSI and others, have seen a significant drop in revenue in 2020. With the growing remote work model, companies are increasing their investments in the cloud-based analytics and assurance, edge computing, and AI-powered networking technologies. This should boost the NaaS market.

Main market trends

Cloud-Based Services Expected to Hold Significant Market Share

As businesses strive to effectively manage their IT infrastructure, they are finding ways to effectively operate and manage their networks. Companies are modernizing traditional IT techniques on commodity hardware, such as computing, storage and networking, to incorporate cloud technologies that enable rapid development and deployment of new network services.
With an increasing number of cloud-based applications in enterprises, cloud-based services are becoming increasingly popular. Adoption of cloud computing is on the rise due to increased investment by small and medium-sized enterprises (SMEs). According to Cisco Systems, global cloud data center IP traffic is expected to reach 19,509 exabytes by 2021.
The main reasons for migrating to the cloud are scalability, increased efficiency, faster implementation, mobility and disaster recovery. Cloud migration is also gaining popularity for its real-time experience, business elements, and accessibility to on-premises data. This technology also makes it easy to set up and work on multiple units in a minimum of time. Enterprises are adopting network-as-a-service (NaaS) solutions to support a seamless migration to the cloud.
Cloud computing continues to evolve as a vital computing platform for sharing various resources including infrastructure, software, business processes, and applications. According to Cisco’s Global Cloud Index for 2016-2021, 78% of all cloud workflows were to be delivered in a SaaS model. Infrastructure as a service is also expected to drop to 21% in 2021 from 44% in 2013, while platform as a service is expected to account for 9% of the global cloud market.
Additionally, from a vendor perspective, to help service providers meet low latency and high bandwidth requirements, Ericsson has upgraded its cloud solution with the launch of Ericsson Edge network virtualization, optimized for the network edge. The newly developed solution is part of the end-to-end managed and orchestrated distributed cloud architecture, helping to distribute workloads, optimize the network and enable new services in the cloud.
Additionally, VMware’s Telco Automation Cloud was launched to model, integrate, orchestrate, and manage Virtual Network Functions (VNFs), Cloud Network Functions (CNFs), and network services. As part of its “Ready for NFV” program, TAC has made NFVs and VNFs more manageable by adopting a cloud-first approach to reduce multi-cloud complexities.

North America is expected to occupy the largest market share

The inclination towards implementation and acceptance of advanced technologies, development of network automation, increase in the number of cloud-based services and other factors are driving the network market as service (NaaS) in the country. Over the next five years, most IT teams will increasingly adopt NaaS as vendors offer hybrid offerings that include software, cloud intelligence, and the option of on-premises hardware management.
The substantial growth of connected and mobile devices is driving the growth in demand for enhanced network services. Since the United States has always remained at the forefront of technology adoption, the region has seen the maximum adoption of connected devices. For example, according to the CTA, in 2016 connected device shipments were 621 million units in the United States and reached 791 million shipments in 2021. Storing and managing this huge stream of data through the connected device without running costs spiraling out of control. be a big challenge. This is where cloud native technologies come to the rescue.
Only with an end-to-end, cloud-native core network can an operator take full advantage of the agility, scalability, resiliency, and cost savings of the cloud. The fastest way for the operator to apply all these features to meet the IoT needs of their enterprise customers is to use a hosted/third-party environment. Nokia WING, which stands for IoT Network Grid, is a cloud-native kernel-based managed service that supports local-only and large-scale deployments with the same architecture.
The NaaS market in Canada is growing primarily due to new product launches, acquisitions, mergers, and partnerships, which are shaping the market landscape in North America as a whole. ? There is an increase in malicious cyber activities targeting information technology (IT) service providers, causing customer information to leak. Due to increasing network infiltration, the Canadian Center for Cyber ​​Security has provided advice to businesses. This, in turn, has led companies to become very selective when choosing their respective network service providers.
With increasing automation and deployment of connected devices, market demand is expected to increase significantly. Additionally, the NaaS model benefits small businesses because they can offload day-to-day equipment maintenance and focus on the things they do best, like customer service.

Competitive landscape

The Network as a Service market is highly competitive and consists of several major players. The market appears to be fragmented with the presence of multiple small and large players. Major players holding a major share of the market are focusing on expanding their customer base in foreign countries. These companies rely on strategic collaborative initiatives to increase their market share and increase their profitability. Some of the major market players are AT&T Inc., Verizon Wireless Inc., and Cisco System Inc., among others.

May 2022 – Telstra announced a collaboration with Prysmian Group to build a new state-of-the-art intercapital fiber optic network to the market. The National Fiber Network Project is a multi-year project that will see Telstra construct a new ‘state-of-the-art’ dual-fibre trunk path that will add up to 20,000 kilometers of new fiber optic terrestrial cable, boosting inter – capital capacity and capacity for regional areas.
December 2021 – Verizon Business has partnered with Cisco to enhance the company’s Network-as-a-Service (NaaS) digitization strategy by adding Cisco-managed SD-WAN services, including 4G/5G connectivity options . With the addition of these new solutions, both companies can take advantage of Verizon’s 4G and 5G networks, allowing them to scale and adopt the latest technologies and stay nimble to meet ever-changing customer demands.
November 2021 – Kyndryl and VMware announced an extension of the companies’ strategic partnership focused on application modernization and multi-cloud services. This expanded collaboration can enable customers to enhance their digital innovation and business transformation with business control. The primary goal of the expanded partnership is to accelerate IT and business reinvention for customers through the combination of VMware solutions and Kyndryl’s design, build and manage services.

Additional benefits:

The Market Estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06067790/?utm_source=GNW

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