Everything as a Service (XaaS) Market to be Dominated by North America through 2027
Increase investment in digital transformation to
improve business ability and enhance operational efficiency is expected to
witness potential market in the forecast period of 2022-2027.
According to
TechSci Research report, Everything as a Service (XaaS) Market - Global Size,
Share, Trends, Opportunity, and Forecast. 2017-2027 The everything-as-a-Service (XaaS) market is
anticipated to have a higher CAGR over the projected period due to the
increased usage of artificial intelligence and IoT as a service platform. The
rising demand for improved corporate operation management services is
anticipated to drive market growth. Additionally, everything as a service market
is projected to witness increasing adoption in the upcoming years on account of
increased use of subscription-based pricing model. However, growing concern over
data security is expected to impede business growth, globally.
Businesses are utilizing cloud services to perform
their operations with great scalability and flexibility.
Everything-as-a-service is expanding as organizations increasingly favor
cloud-based architecture (XaaS).
Since the primary suppliers in the market for XaaS
services and solutions concentrate on supplying computing platforms with high
connectivity, every vertical industrial sector is moving toward XaaS services.
The excellent features of Xaas are encouraging businesses to test out new
technologies for less money. This is a crucial component in the expansion of
XaaS services on a worldwide scale. The Everything-as-a-Service (XaaS) business
model allows companies to continuously generate money from their products in
the B2B market. The XaaS market is expanding internationally because of this
trend.
Businesses are switching to everything-as-a-service
(XaaS) because of its many advantages, including enhanced security controls,
decreased total cost of ownership (TCO), ongoing enhancements, faster
implementation times, greater scalability, increased accessibility, and among others.
Most of the significant providers of
Everything-as-a-Service (XaaS) services are located in the United States. One
of the key factors influencing the XaaS industry is this. For better
accessibility and enhanced security measures, all the main businesses in
banking, retail, and IT & telecom are moving toward the use of XaaS
services in the forecast period.
In 2021, North America held a large portion of the
worldwide Everything as a Service (XaaS) market share. The increased
development of SaaS-based software and rising investment in cloud services are
credited with the regional boom.
Due to the growing use of cloud computing services,
Europe has the second-highest worldwide market share. Additionally, the growing
use of cutting-edge technologies is anticipated to fuel regional market
expansion.
Based on type segment, the market is divided into
Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a
Service (IaaS), Device as a Service (DaaS), Security as a Service (SECaaS),
Unified Communications as a Service (UCaaS), Storage as a Service (StaaS),
Technology as a Service, and other segments make up the Everything as a Service
(XaaS) market. Technology as a service is also broken down into edge computing,
IoT, AI, and other categories. Due to increasing platform demand in the IT and
telecommunications sectors, the SaaS segment is anticipated to dominate the
worldwide market share.
Based on end users, the market is divided into BFSI, retail
and consumer goods, healthcare, IT and communications, manufacturing, travel
and hospitality, and others. By embracing digitalization and utilizing the most
current technologies available in the industry, the BFSI segment is anticipated
to dominate the market through 2027.
Browse over XX market data Figures spread through 110 Pages and an
in-depth TOC on " Global Everything as a
Service (XaaS) Market "
Key market
players in the Global Everything as a Service (XaaS) Market
include:
·
Accenture LLP
·
Alibaba Group Holding Limited
·
Amazon.com Inc.
·
AT&T Inc.
·
Cisco Systems Inc.
·
HCL Technologies Limited
·
IBM Corporation
·
Microsoft Corporation
·
Nokia Corporation
·
Oracle Corporation
·
SAP SE
·
Google Corporation
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“The market is expanding largely due to an increase
in demand for improved corporate procedures and operational optimization. A
rise in the adoption of the subscription-based pricing model is being used to
fund the supply of higher-value IT services in order to promote market
expansion. However, increasing IoT as a service and AI as a service usage are
predicted to increase this market in the unforeseeable future. On the other
hand, expanding data security concerns are likely to constrain market expansion
so the market is expected to grow in the forecast period” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Everything as a Service
(XaaS) Market” – Global Size, Share, Trends, Competition, Opportunity, and
Forecast, 2017-2027 Segmented By Type (IaaS, PaaS,
SaaS, CaaS, DaaS, SECaaS, DRaaS, Others), By Organization Size (Large
Enterprise, Small & Medium Enterprise), By End Use Vertical (BFSI, IT and
Telecommunications, Government, Media and Entertainment, Healthcare, Manufacturing,
Oil and Gas, Others), By Business Type (B2B, B2C), By Region has evaluated the future
growth potential of Everything as a Service (XaaS) Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Everything as a Service
(XaaS) Market.
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