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Network as a service market in bfsi vertical is estimated to hold the industry
The network as a service market is expected to witness a significant growth rate from 2019 to 2025 due to the rising demand for network virtualization technologies among enterprises to minimize CAPEX & OPEX costs. These technologies are gaining immense popularity among network operators due to cost-effectiveness. The rise in the number of mobile applications and network endpoints has put tremendous pressure on the traditional network infrastructure. The large enterprise segment is expected to dominate the network as a service market by 2025 with a share of over 55%. The large enterprises are shifting toward the virtual network infrastructure to optimize the expenditure associated with managing & maintaining the physical infrastructure. NaaS enables enterprises to use their network with greater flexibility, dynamism, and agility. The on-demand provisioning of computational resources according to the pay-per-use model provides momentum to large enterprises to adopt NaaS solutions. The other factors driving the adoption of NaaS in large enterprises are increased levels of uptime, enhanced security, improved Quality of Service (QoS), maximized performance, and optimized systems.
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