Everything-as-a-Service (XaaS) Market to Grow by More than 12% CAGR
The everything-as-a-service (XaaS) market is projected to grow from US$ 5 Bn in 2020 to US$ 97 Bn by 2031, at an expected CAGR of 12.5% during the forecast period 2021-2031. XaaS is basically a cloud computing term for an array of different software services and applications, are now delivered to users as a service over the internet.
Everything-as-a-Service (XaaS) is also known as a subscription-based general category of services related to cloud computing and remote access. Business are improving the expense model and speeding new apps and business processes with help of XaaS.
Businesses are adopting cloud services to attain high scalability and flexibility to execute their operations. Increasing preference of businesses on cloud-based architecture is driving the growth of everything-as-a-service (XaaS).
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What is Driving Demand for Everything-as-a-Service (XaaS)?
There is an increase in demand for subscription based pricing model, which is further making companies to adopt cloud based technology more and more. This is one of the factor, driving the growth of everything-as-a-Service (XaaS) globally.
With the implementation of XaaS services and solutions, companies are increasing their customer base and also saving the costs on the deployment of solutions. Major benefits for adopting XaaS services are high scalability and flexibility. These benefits are helping business to execute their options and driving the growth of everything-as-a-Service (XaaS).
There is an increase in the adoption of the idea of selling value project as a service, this is one the factor driving the growth of XaaS market globally. Companies get an option of upgrading or downgrading based on their budget, which is one of the factor driving the growth of everything-as-a-Service. Enterprises only need to pay the subscription fee as there is no other hidden costs. This is also one of the factor, augmenting the growth of XaaS services.
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What are the Key Trends for Everything-as-a-Service (XaaS)?
Each vertical industry sector are moving to XaaS services as key vendors in the XaaS services and solutions market are focusing on providing computing platforms with high connectivity. Due to great features of Xaas, it is motivating the enterprises to experiment with new technologies at lower costs.
This is one of the major factor, driving the growth of XaaS services globally. Companies are generating continuous revenue from their products in B2B space with the Everything-as-a-Service (XaaS) business model. Such trend is helping the XaaS market to grow globally.
Enterprises are moving to everything-as-a-service (XaaS) for multi-faceted benefits like improved security controls, lower total cost of ownership (TCO), continuous updates, faster implementation time, high scalability, improved accessibility and others.
Companies don’t need to buy and deploy the hardware and software or hire development teams as they are tapping into XaaS resources from the cloud service provider and starting to develop immediately.
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US Demand Outlook for Everything-as-a-Service (XaaS)
United States has majority of the key vendors of Everything-as-a-Service (XaaS) services. This is one of the major factor driving the XaaS market. All the major companies in finance, retail and IT & Telecom are moving towards the adoption of XaaS services for improved accessibility and improved security controls.
Governments of United States has shown a keen interest in implementing XaaS technology. The growing demand for subscription-based general category of services in United States through everything as a service technology has opened new growth avenues for XaaS solutions. Most of the states in United States are making strides and tops in the implementing XaaS technology.
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Europe Demand Outlook for Everything-as-a-Service (XaaS)
Emergence of software-as-a-service and cloud computing in Europe in past few years, have made the region one of the advanced region in the world for XaaS softwares and applications. Major factors accelerating deployment of solutions of everything-as-a-service in in Europe countries include high investments in the new technologies.
Moreover, many key vendors in Europe are focusing on faster computing platforms with high connectivity. As the demand for cloud computing increases, the demand for XaaS services in countries like UK, Germany, France and others would drastically rise in the coming years.
Who are the Key Everything-as-a-Service (XaaS) Vendors?
Some of the leading vendors of Everything-as-a-Service (XaaS) include
- Solution Analysts Pvt Ltd.
- Nokia Corporation
- Accenture LLP
- Cisco Systems
- Google Corporation
- IBM Corporation
- Microsoft Corporation
- HCL Technologies Limited
- Jabil Inc.
- AT&T Inc.
These companies are adopting various growth strategies and focusing on new product launches, strategic expansions and acquisitions.
- Small & Medium Enterprise
- Large Enterprise
By End-use Industry
- IT & Telecom
- Logistic & Transportation
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Pacific
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Everything-as-a-Service (XaaS) Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.