Rising Interest in Networking-as-a-Service

Networking as a Service has seen a lot of growth in the past years due to the adoption of cloud services, software-defined networking, and the development of new data center infrastructure. Check out what the future of NaaS looks like. Spoiler—things are looking good!

Networking as a Service (NaaS) has lagged in getting into the “as a service” market. But now that it is here, it is for sure getting a lot of attention. Provisioning network services virtually has proved to be an excellent benefit for enterprise owners.

Growth Drivers for NaaS

It is important to acknowledge the factors that have driven the growth of NaaS adoption. The first factor—the adoption of cloud services. After all, it is integral to have the right cloud-deployed alongside your business if you want to make the most out of networking services. Software-defined networking has also played a role as it helps make high-capacity networks cheaper and potentially more efficient. Lastly, the development of new data center infrastructure has made its fair share of contributions, too.

In relation to the factors above, the Network as a Service market is set to grow manifold in the years to come. The compounded annual growth rate for the market is said to be 38.3% between the forecast period of 2018-2023. Expanding at this given rate, NaaS is said to achieve a market value worth $21.7 billion by 2023.

Regional Market Share

North America currently holds the largest market share. This is evident because of the region's early adoption of advanced technologies like cloud and edge computing. In contrast, the market in the Asia Pacific region is set to expand exponentially in 2020 itself. Activities in developing economies like China and India are contributing significantly to IT services requirements.