Network as a Service (NaaS) Market Size

Network as a Service Market Size

Network as a Service Market size in 2018 exceeded USD 5 billion is estimated to grow at a CAGR of over 35% from 2019 to 2025.

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The Network as a Service market growth is attributed to the rapid usage of cloud technology as enterprises are increasingly migrating their workloads to the cloud. The rise in the data generated through various digital platforms and the growing trend of workforce mobility have laid immense pressure on enterprise networks. Thus, they are migrating toward the cloud, which will enable them to host a wide range of business applications. Cloud-enabled NaaS platforms help them to deploy applications augmented by several network functions, including virtual routers, service differentiation, and virtual firewalls. Unlike other solutions, which are based on third-party add-on virtual appliances, these platforms are implemented in the cloud infrastructure, reducing network complexity and management costs. Another factor contributing to market growth is an extensive adoption of network virtualization technologies such as Software-defined Networking (SDN) and Network Functions Virtualization (NFV). These technologies provide a platform for Network as a Service and enable enterprises to sell network services to customers virtually, on a subscription basis.