By Dominic Chopping

Nokia Corp. said Wednesday that it is introducing software-as-a-service (SaaS) services for communication service providers (CSPs), as it moves to offer operators a cheaper, more flexible, and more customer-centric pathway to operate networks and deliver new services.

The Finnish telecommunications-equipment supplier said it aims to have multiple SaaS for CSP services in analytics, security, and data management commercially available in early 2022.

"To seize the 5G opportunity, CSPs need to shift away from the legacy practice of deploying customized software for analytics, security, network management, and other functions, that run on costly, complex, on-premise infrastructure," Nokia said.

"To drive that shift, Nokia's approach to SaaS for CSPs is about improving value and reducing complexity by providing innovative software consumed purely on demand through a subscription," it said.

For the 2021-2025 period, Nokia said it is targeting a SaaS addressable market, comprised of CSPs and enterprises, with a value of $3.1 billion and an annual growth rate of around 25%-30%.

The company is in talks with several CSPs about using its SaaS services, including security, it added.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

November 17, 2021 02:42 ET (07:42 GMT)

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