Network-as-a-Service Market Expected To Grow To $47 Bn By 2028

New report says Network-as-a-Service (NaaS) market is expected to grow at a CAGR of around 28 per cent from 2022-2028, reaching USD 47 billion by 2028.

Amongst NaaS type, wide area network segment to witness robust CAGR during the forecast period.

The global NaaS market is uplifting on the account of the demand for reduced automation time and costs and high reliability and protection for mission-important enterprise applications.

Moreover, factors such as the rise of Software-defined networking (SDN) integration into existing network infrastructure, and the accelerated adoption of cloud computing among large and small, and medium enterprises are also contributing to the growth of the market.

The cloud and SaaS connectivity segment catered to a prominent share of the global network as a service (NaaS) market, revealed the UnivDatos Markets Insights report.

North America captured a prominent share of the market in 2020 owing to the rapid adoption of cloud computing and NaaS among enterprises.

Some of the major players operating in the market include Verizon Communications Inc., Telefónica S.A., Nippon Telegraph and Telephone Corporation, Orange S.A., Vodafone Group Plc, BT Group plc, Lumen Technologies Inc., AT&T Inc., Comcast Corporation, and KDDI Corporation.