The report forecasts the network-as-a-service market to grow at a CAGR of 35.76% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Increasing adoption of software-defined networking will aid in market growth during the forecast period. SDN is a strong network paradigm designed to cater to overarching issues such as the increasing demand for network speed, scalability, and resilience. It is a network architecture where software, such as applications, content, and services, that are stored or executed in data centers, interacts directly and dynamically with network infrastructure.
According to the report, shift from CAPEX to OPEX model will spur market growth until the end of 2020. Industries worldwide are shifting from the CAPEX to the OPEX model to harvest cost efficiencies. This shift has boosted the adoption of cloud-based networking services. NaaS provides on-demand network services with pay-per-use pricing model, wherein clients pay only for the resources used.
Further, the report states that challenges like data security and privacy concerns will hinder market growth. The use of cloud-powered technologies exposes business data to the service provider, which opens up fresh security challenges.