The global XaaS (Anything-as-a-Service) market exhibited strong growth during 2015-2020. 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. Looking forward, IMARC Group expects the global XaaS (Anything-as-a-Service) market to grow at a CAGR of 25.5% during 2021-2026
The report has also analysed the competitive landscape of the market with some of the key players being AWS, Cisco, Google, IBM, Microsoft, Alcatel-Lucent, AT&T, Avaya, BigSwitch, CipherCloud, CommonVault, Dell, enStratus Networks, Ericsson, HP, Intel Security (McAfee), Juniper Networks, M5 Networks, National Electric Corporation (NEC), Oracle, Orange Business Services, etc.
Key Questions Answered in This Report:
The global anything-as-a-service market size was valued at US$ 147.70 Billion in 2020.
According to the estimates by IMARC Group, the global anything-as-a-service market is expected to witness a CAGR of 25.50% from 2021 to 2026.
The increasing utilization of cloud-based monitoring, rising volume of corporate data, and the growing requirement of scalable storage services represent some of the key drivers for the global anything-as-a-service market.
The expanding adoption of anything-as-a-service based on its customizability across several sectors such as insurance, telecom, manufacturing, government, healthcare, finance, banking, etc., represents one of the key trends in the global anything-as-a-service market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the increasing adoption of remote working models, thereby positively influencing the demand for XaaS to provide remote data access.
On the basis of the service area, the market has been bifurcated into storage-as-a-service, security-as-a-service, unified communications-as-a-service, network-as-a-service, database-as-a-service, and backend-as-a-service. Currently, storage as a service holds the majority of the total market share.
On the basis of the industry, the market has been divided into IT and telecom, BFSI, manufacturing and others. Among these, IT and telecom represents the largest segment.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Latin America and Middle East and Africa, where North America dominates the global market.
The key companies in the global anything-as-a-service market AWS, Cisco, Google, IBM, Microsoft, Alcatel-Lucent, AT&T, Avaya, BigSwitch, CipherCloud, CommonVault, Dell, enStratus Networks, Ericsson, HP, Intel Security (McAfee), Juniper Networks, M5 Networks, National Electric Corporation (NEC), Oracle, Orange Business Services, etc.
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