PUBLISHER: IMARC | PRODUCT CODE: 1423030
PUBLISHER: IMARC | PRODUCT CODE: 1423030
The global anything-as-a-service (XaaS) market size reached US$ 282.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,122.5 Billion by 2032, exhibiting a growth rate (CAGR) of 16.1% during 2024-2032.
XaaS is a form of cloud computing that delivers a variety of computer-based services and applications to users through the internet instead of physically providing them locally or on-site within an enterprise. It involves delivering services and applications on-demand or on a subscription basis which enables the consumers to reduce the cost of purchasing services from a provider.
Factors such as the increasing adoption of cloud-based monitoring and growing requirement of scalable storage services are among the key factors driving the global XaaS market. Organizations across the globe are undergoing digitalization transformational changes which has resulted in robust growth of corporate data. Cloud-based storage provides an efficient and economical option for the storage of this data. Moreover, the decreasing cost of purchasing subscribed services with improved bandwidth and connectivity is also expected to create a positive impact on the market growth. Additionally, the surging virtualization of IT solutions such as data center and network functionalities coupled with load balancers, intrusion detection, and firewalls are also contributing to the market growth. Apart from this, XaaS is easy to manage as it replaces the traditional complex methods and is highly customizable to support mobile workforces. As a result, it finds applications across sectors such as insurance, telecom, manufacturing, government, healthcare, finance, banking, etc.
IMARC Group provides an analysis of the key trends in each sub-segment of the global anything-as-a-service (XaaS) market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on service area and industry.
Storage-as-a-Service
Security-as-a-Service
Unified Communications-as-a-Service
Network-as-a-Service
Database-as-a-Service
Backend-as-a-Service
IT and Telecom
BFSI
Manufacturing
Others
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
The report has also analysed the competitive landscape of the market with some of the key players being Amazon Web Services, Inc. (AWS), Cisco Systems, Inc., Google LLC, Hewlett-Packard Company (HP), National Electric Corporation (NEC), International Business Machines Corporation (IBM), Microsoft Corporation, Alcatel-Lucent SA, AT&T, Inc., Avaya, Inc., Big Switch Networks, Inc., CipherCloud, Inc., Commvault Systems, Inc., Dell Technologies, Inc., enStratus Networks LLC, Telefonaktiebolaget LM Ericsson, McAfee LLC (Intel Security), Juniper Networks, Inc., M5 Networks, Inc., Oracle Corporation and Orange Business Services.