EVERYTHING AS A SERVICE (XAAS) MARKET: OVERVIEW

The Global Everything as a Service (XaaS) Market Size was valued at USD 245.3 Billion in 2021 and is expected to reach USD 1225.07 Billion by 2030, growing at a CAGR of 23.4% during 2021-2030. 
 

Everything as a Service (XaaS) refers to the idea that everything may now be accessed remotely and through the cloud. When using web networks, cloud computing technologies offer several functions. Everything as a Service involves offering users a variety of tools, technologies, and services as a service. This business model is being quickly adopted to support the strategic goal and eventual success of the company and are frequently sparked by technological and digitalization advancements. The XaaS business model lowers the entry cost for infrastructure or corporate services, enabling more companies to start digital transformation programs. Customers are only charged for what they consume. A subscription-based business model enables organizations to swiftly provide customers with useful services, launch new products into the market, quicken cash collection, and design and alter pricing patterns.
 

COVID-19 ANALYSIS

The everything as a service (XaaS) market has benefited from the COVID-19 pandemic in a number of different areas, including healthcare, e-commerce, retail, finance, and financial, to mention a few. The epidemic compelled the bulk of the workforce to increase their use of work-from-home strategies. Organizations started to recognize the benefits of managing expenditures in accordance with their needs to increase operational efficiency and improve business agility. In the epidemic era, improving employee experience will drive business expansion. With the COVID-19 pandemic, the demand for subscription-based services like Netflix, Amazon Prime, and others has skyrocketed. During the COVID-19 epidemic, numerous businesses all around the world have embraced the XaaS paradigm to digitize their business processes.
 

EVERYTHING AS A SERVICE (XAAS) MARKET: TREND

Adoption of XaaS-based Solutions Across Different Verticals

Consumers prefer subscription-based service's pricing to choose the best technology and services. Customers who use subscription-based services can make operational investments in a variety of IT funds. The increasing adoption of Xaas-based solutions across different verticals is due to the reduced cost of ownership which is a benefit for enterprises. The focus changes to operational spending will create a demand of a customized XaaS solutions according to the needs. For instance, Hewlett Packard Enterprise (HPE) modified its conventional product offerings into advanced solutions for creating lifetime client loyalty and recurring revenue streams.
 

EVERYTHING AS A SERVICE (XAAS) MARKET: DRIVERS

Increasing Demand for Better Business Operations and Operational Efficiency

Organizations all over the world are quickly moving their workloads from traditional infrastructure to cloud-based platforms. Enterprises may increase corporate operations and improve consumer engagement by using cloud-based services and solutions. Enterprises may increase staff productivity, lower overall costs, and provide better support and maintenance thanks to cloud-based services including software and platforms. The global everything as a service (XaaS) market is expanding as a result of increasing acceptance of various cloud-based services for enhancing consumer experiences and modernizing company operations.
 

EVERYTHING AS A SERVICE (XAAS) MARKET: RESTRAIN

Concerns Pertaining to Data Loss Limiting the Market Growth

Huge amounts of data leading to cyberattacks, data breaches, data loss, and thefts. A shortage of competent individuals to tackle these threats across enterprises led to an increase in data breaches and data loss activities, which hampered the market's expansion. Additionally, the market expansion is anticipated to be constrained by employee ignorance of data security and safety, which results in data loss and theft. For instance, according to the Trustwave Global Security Report released in 2020, the number of cyberattacks against cloud-based services more than doubled in 2019.
 

MARKET SEGMENTATION

The Global Everything as a Service (XaaS) Market is segmented by Type, Organization, Vertical, Currency Type, and Region. Based on the type, the market is categorized SaaS, PaaS, IaaS, SECaaS, DaaS, UCaaS, StaaS, technology as a service & others. Based on organization, the market is categorized into small and medium enterprise, large enterprise. Based on vertical, the market is categorized into banking, financial services and insurance (BFSI), manufacturing, healthcare, retail, it and telecommunication, travel & hospitality & others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. 
 

Type Insights

Based on the type segment, the global everything as a service (XaaS) market is categorized into SaaS, PaaS, IaaS, SECaaS, DaaS, UCaaS, StaaS, technology as a service & others. The SAAS segment has dominated the market share in 2020 of global everything as a service (XaaS) market owing to rapid uptake of these platforms by businesses in the IT, telecom, and BFSI sectors.
 

Organization Insights

Based on the organization segment, the global everything as a service (XaaS) market is categorized into small and medium enterprise, large enterprise. The large enterprise segment has dominated the market share in 2020 of global everything as a service (XaaS) market owing to major firms are increasingly utilizing cloud-based SaaS, PaaS, and IaaS systems. Due to its advantages, including simple access for distant workers and storage availability, large businesses spend the most on adopting cloud services. In 2019, 91 percent of major firms used public cloud services globally, while 72 percent of businesses used private cloud services, according to RightScale's Cloud Report. Software as a Service, Platform as a Service, and Infrastructure as a Service are some of the cloud services.
 

Vertical Insights

Based on the vertical segment, the global everything as a service (XaaS) market is categorized into banking, financial services and insurance (BFSI), manufacturing, healthcare, retail, it and telecommunication, travel & hospitality & others. The healthcare segment is dominated the market share in 2020 of global everything as a service (XaaS) market owing to growing use of XaaS for remote patient monitoring, treatment, and diagnosis in the healthcare industry.
 

MARKET SEGMENTATION: BY REGION

The Global Everything as a Service (XaaS) Market is categorized into Nortsh America, Europe, Asia-Pacific, Latin America, Middle East and Africa.  
 

North America region is dominating the market share of global everything as a service (XaaS) market owing to the due to the early adopter of SaaS-based solutions and heavily investing on cloud services. The region has witnessed to adopt cloud technologies across all industries. The healthcare industry is where cloud computing services are seeing the most growth in North America. The fundamental application of cloud computing services is the recording and storage of data, both clinical and non-clinical. However, Asia Pacific region is anticipated to grow over the next few years of global everything as a service (XaaS) market owing to increased cloud infrastructure investment by significant companies in this region, which fuels market expansion. For instance, the Alibaba Group invested over $1 billion in June 2021 to expand cloud infrastructure across Asia and the Pacific.
 

EVERYTHING AS A SERVICE (XAAS) MARKET: KEY PLAYERS

• Adobe Inc.
• Alphabet Inc.
• Amazon Web Services
• AT&T Inc.
• Avaya Inc.
• Cisco
• IBM Corporation
• NetApp
• McAfee, LLC
• Microsoft
• Oracle
• Oracle
• Orange Business Services
• SAP SE
• Salesforce, Inc

EVERYTHING AS A SERVICE (XAAS) MARKET: RECENT DEVELOPMENT

• April 2022- Salesforce introduced Customer Relationship Management (CRM) Analytics. Salesforce customers can offer predictive insights with the help of this Platform as a Service (PaaS) model, an AI-powered data and analytics solution.

EVERYTHING AS A SERVICE (XAAS) MARKET: REPORT OVERVIEW

The scope of the report includes a detailed study of regional markets for Global Everything as a Service (XaaS) Market. The Global Everything as a Service (XaaS) Market is segmented by Type, Organization, Vertical, Currency Type, and Region.  It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables. The report covers information regarding the competitive outlook including the market share and company profiles of the key participants operating in the Global Everything as a Service (XaaS) Market.