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2023

Everything as a Service (XaaS) Market

Everything as a Service (XaaS) Market Size, Share, Competitive Landscape and Trend Analysis Report by Offerings, by Type, by Organization Size, by End Use Verticals : Global Opportunity Analysis and Industry Forecast, 2022-2031

IC : Software and Services

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Author's: Ankit Mahesh Gupta | Onkar Sumant
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Everything As A Service (XaaS) Market Research, 2031

The global Everything as a Service Market Size was $474.9 billion in 2021, and is projected to reach $2,631.1 billion by 2031, growing at a CAGR of 18.9% from 2022 to 2031.

XaaS refers to programs and services accessed through internet-connected systems. As even tiny businesses can use cloud-based architecture for almost all of their technological needs, the service revolution has completely changed the globe. This has altered how businesses operate, expand, and scale. The "as-a-service" component of cloud computing has become increasingly widespread globally. Several approaches, including software as a service (SaaS), infrastructure as a service (IaaS), and platform as a service (PaaS) have therefore gained popularity.

Tech businesses have already been spending in system equipment and programming for many years in an effort to advance modernization. Nevertheless, this on-demand alternative requires a lot of storage and has to be periodically backed up, updated, or maintained. The programs have caused inefficiencies rather than automating activities and procedures.

There is an increase in the desire for subscription-based pricing structures, which encourages businesses to use cloud computing. Companies are expanding their client base and reducing the expenses associated with the deployment of solutions by implementing XaaS services and solutions. High scalability and flexibility are key advantages of using Everything as a Service Market. These advantages support businesses in carrying out their decisions and fuel the expansion of XaaS market.

 

The Everything as a Service Market is segmented into Offerings, Type, Organization Size and End Use Verticals.

Everything as a Service (XaaS) Market
By Offerings
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Services segment is projected as the most lucrative segment.

The advantages, such as enhanced capacity, flexibility, adaptability, and decreased upkeep, combined with the reduced cost for computer infrastructure or in-house workers, are the main factors driving the growth of the solutions market. In addition, cloud-based solutions give organizations the ability to concentrate on activities that generate income for Everything as a Service Market.

Selling value projects as a service is gaining acceptance, and this is one of the factors boosting the global XaaS industry. One of the factors influencing the expansion of everything-as-a-Service is the ability for businesses to upgrade or downgrade depending on their budget. There are no additional hidden fees, so businesses simply have to pay the membership charge. This contributes to the expansion of XaaS services.

Everything as a Service (XaaS) Market
By Type
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SaaS segment is projected as the most lucrative segment.

The everything as a Service (XaaS) is employed by the software as a service so that users in various places may access it. The suppliers deliver the services over a dispersed route on the internet. Office software, communications, computer-aided design (CAD), management software, development software, customer relationship management (CRM), and many other types of software are all included in this category. One advantage of adopting software as a service in XaaS is that it is quick and simple to implement. Software may be recovered in accordance with contracts or agreements. The vendor or software supplier must possess appropriate licences.

Everything as a Service (XaaS) Market
By End Use Verticals
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Manufacturing segment dominates the Russia Everything as a Service (XaaS) Market and is expected to retain its dominance throughout the forecast period.

Retail, private, corporate, and investment banking service providers, non-banking financial firms (NBFCs), mutual funds, pension funds, insurance service providers, and other smaller financial institutions are all included in the BSFI sector vertical. In the BSFI industry, everything as a service (XaaS) has become a widely acknowledged technology. Wealth management, retail banking, corporate banking, investment banking, fund management, and treasury are among different banking divisions that gain from everything as a service (XaaS).

The IT sector comprises businesses that offer IT and IT-enabled services. These businesses create, and provide consumers software, related semiconductor hardware, and services. However, the telecom sector also includes businesses like cable and satellite operators, wireless and wired phone service providers, and Internet service providers (ISPs). Public and private clouds are mostly used in the telecommunications business.

Everything as a Service (XaaS) Market
By Region
2031
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific to grow with high growth rate

Region wise, the XaaS market trends are analyzed across North America (U.S. and Canada), Europe (Germany, Italy, France, Spain, UK, Russia, and rest of  Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). North America, specifically the U.S., remains a significant participant in the global XaaS industry. Major organizations and government institutions in the country are intensely putting resources into  providing sophisticated XaaS solutions and services.

TOP IMPACTING FACTORS

The market is growing primarily as a result of rise in demand for better business processes and streamlining of operations. Higher-valued IT service provision is being resourced by increase in use of the subscription-based pricing model to stimulate market growth. On the contrary, growing data security concerns are likely to restrain market expansion, however, rise in IoT as a service and AI as a service adoption are anticipated to boost this market in unforeseen future.

COMPETITION ANALYSIS

Competitive analysis and profiles of the major Everything as a Service Industry players such as Accenture LLP, Alibaba Group Holding Limited, Alphabet Inc. (Google Corporation), Amazon.com Inc. (AWS), AT&T Inc., Cisco Systems, HCL Technologies Limited, IBM Corporation, Microsoft Corporation, Nokia Corporation, Oracle Corporation, and SAP SE are provided in this report.

KEY BENEFITS FOR STAKEHOLDERS

  • This study comprises analytical depiction of the Everything as a Service Market Share along with current trends and future estimations to depict the imminent investment pockets.
  • The overall Everything as a Service Market Analysis is determined to understand Everything as a Service Market Trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities associated with Everything as a Service Market Forecast.
  • The current XaaS market forecast is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the Everything as a Service Market Growth during the period.
  • The report includes the market share of key vendors and XaaS market trends.

Everything as a Service (XaaS) Market Report Highlights

Aspects Details
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Market Size By 2031

USD 2.6 trillion

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Growth Rate

CAGR of 18.9%

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Forecast period

2021 - 2031

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Report Pages

290

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By Offerings
  • Solutions
  • Services
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By Type
  • SaaS
  • CaaS
  • DaaS
  • SECaaS
  • IaaS
  • PaaS
  • DRaaS
  • Others
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By Organization Size
  • Large Enterprise
  • SME's
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By End Use Verticals
  • BFSI
  • IT and Telecommunications
  • Government
  • Media and Entertainment
  • Healthcare
  • Manufacturing
  • Oil and Gas
  • Metals and Mining
  • Petrochemicals
  • Energy and Utilities
  • Agriculture
  • Others
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By Region
  • North America  (U.S., Canada)
  • Europe  (Germany, Italy, France, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

Accenture PLC, Amazon.com Inc., ALIBABA GROUP HOLDING LIMITED, HCL Technologies Limited, Nokia Corporation., AT&T Intellectual Property II, L.P., Oracle Corporation, SAP SE, Microsoft Corporation, Cisco Systems Inc., ibm corporation

Analyst Review

Everything-as-a-service, or alternatively anything-as-a-service, is shortened as XaaS.  XaaS can be defined as the summation of all the services related to cloud computing and remote access. These services include IaaS, SaaS, DRaaS and others a vast variety of technologies and tools to be delievered to users as service over the internet. Internet users have access to applications and services whenever they need them. Everything-as-a-service or anything-as-a-service are the terms used to describe these services. A broad range of services related to remote access and cloud computing are available under the XaaS concept. This describes a wide range of products, services, and technology offered to customers online and as a service.

The “as-a-service” concept has been used by businesses to satisfy all customer needs, even in the physical, nondigital world. In light of this, XaaS is an amalgam of IaaS, PaaS, and SaaS products. Any IT function may be turned into a service to help an organization that pays for it using a flexible consumption model rather than an upfront payment or license. The market is developing as a result of rise in demand for enhanced quality and optimized business units. Furthermore, adoption of subscription-based pricing model has resulted in fueling demand for everything as a service market. This shift towards  cloud computing paradigm is funding more valuable IT agile service delivery for client/users. In addition to this increase in use of IoT as a service and AI as a service is anticipated to boost the market. However, rising concerns about data security are likely to restrict growth of market in shorter term.

The global XaaS market is highly competitive owing to strong presence of existing vendors. XaaS vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.

Among the analyzed regions, North America exhibits the highest adoption rate of XaaS and has been experiencing massive expansion of the market. On the other hand, Asia-Pacific is expected to grow at a faster pace, predicting lucrative growth due to emerging countries, such as China, Japan, and India, investing in these technologies. Regions, such as the Middle East and Africa, are further expected to offer new opportunities in the XaaS market in future.

Globally, various key players and government agencies are investing in XaaS to make them compatible with various industrial platforms. For instance, IBM Corp. acquired Neudesic, a renowned US cloud service advisory business with multi-cloud capabilities and a primary focus on the Microsoft Azure platform. The hybrid cloud and AI initiatives of IBM are likely to be further advanced due to this purchase. This will greatly broaden its range of hybrid multi-cloud services, which is anticipated to provide lucrative opportunities for market growth.

The key players profiled in the report include Accenture LLP, Alibaba Group Holding Limited, Alphabet Inc. (Google Corporation), Amazon.com Inc. (AWS), AT&T Inc., Cisco Systems, HCL Technologies Limited, IBM Corporation, Microsoft Corporation, Nokia Corporation, Oracle Corporation, and SAP SE.

Author Name(s) : Ankit Mahesh Gupta | Onkar Sumant
Frequently Asked Questions?

Application as a IoT as a Service and AI as a Service

Retail, private, corporate, and investment banking service providers, non-banking financial firms (NBFCs), mutual funds, pension funds, insurance service providers, and other smaller financial institutions are all included in the BSFI sector vertical. This is expected to lead the market as demand is concern.

North America is the largest regional market for Everything as a Service (XaaS)

The global everything-as-a-service (XaaS) market was valued at $474.9 billion in 2021, and is projected to reach $2,631.1 billion by 2031

Key players in XaaS market includes Accenture LLP, Alibaba Group Holding Limited, Alphabet Inc. (Google Corporation), Amazon.com Inc. (AWS), AT&T Inc., Cisco Systems, HCL Technologies Limited, IBM Corporation and Microsoft Corporation

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Everything as a Service (XaaS) Market

Global Opportunity Analysis and Industry Forecast, 2022-2031