Everything as a Service (Xaas) Market (Updated Version Available)
Everything as a Service (Xaas) Market Size, Share & Trends Analysis, By Offering (Solution and Service), Type {Device as a Service (DaaS), Security as a Service (SecaaS), Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS), and Technology as a Service (TaaS), and Others}, Organization Size (Large Enterprises and Small & Medium-Sized Enterprises), End Use Vertical (Banking Financial Services and Insurance (BFSI), Manufacturing, Oil and Gas, Metals and Mining, Petrochemicals, Energy & Utilities, Agriculture, IT and Telecommunications, Government, Media and Entertainment, Healthcare, and Others), By Region, Forecast Period-2023 - 2030
Report ID : RI_673790 | Date : February 2023 |
Format : 
Key Market Overview:
Everything as a Service (Xaas) Market is estimated to reach over USD 1886.52 Billion by 2030 from a value of USD 447.96 Billion in 2022, growing at a CAGR of19.69%from 2023 to 2030.
Everything as a service (XaaS) refers to general category of services related to cloud computing and remote access. According to everything as a service concept essentially any IT function can be turned into a service for business consumption. Everything as a service is a broad concept consisting of multiple sub services such as Device as a Service (DaaS), Security as a Service (SecaaS), Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS), and Technology as a Service (TaaS). XaaS have multiple advantages and helps business in multiple ways such as improving expense model. With Xaas, business can effectively reduce costs by buying services on subscription instead of investing hefty amounts into accusation of individual products like hardware devices, software, security and infrastructure. Moreover, IT industry is one of the largest consumers of everything as a service. For instance, according to a survey by Deloitte 75% of the respondent companies reported that XaaS constitutes more than half of their company\'s enterprise IT.
Everything as a Service (Xaas) Market Coverage
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Market Dynamics:
Driver:
Company\'s transformation to asset light model is driving the demand for XaaS:
A rising number of modern businesses are utilizing resources in growth and expansion instead of investing in long term hard assets. Therefore, soring number of businesses choose XaaS subscription-based models over building individual systems.
Capability to enhances business agility in new technology adoption is driving the demand for XaaS :
With XaaS businesses don\'t have to wait prolong for procurement and testing of latest technologies. For instance, according to Deloitte, 40% of the respondent reported access to new technology through XaaS to be main reason for businesses shift to XaaS.
Restraint:
Performance concern is one of the major restraints hampering the market growth. Rising number XaaS users lead to bandwidth, latency, and data storage issues thus resulting in slower retrieval time. Large number of users using XaaS platforms at the same time leads to system failures and slowdowns. Additionally, the integration of multiple cloud services in complex virtual platforms results into management and security issues. Moreover, entire XaaS ecosystem relay on internet for functioning in case of internet breakdowns users\' access is impacted ultimately hampering enterprise operations. Aforementioned operational restraints are hindering the market growth.
Opportunities
Xaas adoption in manufacturing industry poses as one of the most lucrative opportunities for XaaS market in forthcoming years. Rising number of businesses are choosing equipment as a Service (EaaS) over investing large amounts into long term assets. As equipment as a Service allows manufacturers to access equipment without incurring high upfront cost. Additionally, Analytics as a Service (AaaS) is also gaining traction in recent years. AaaS involves vendors providing data analytics services to manufactures on subscription basis. For instance, Altair a SaaS startup focusing manufacturing sector. Offers AI-based simulation platform and data analytics solutions for businesses involved in automotive, electronics, aerospace, and pharmaceuticals manufacturing.
Everything as a Service (Xaas) Market Segmentation:
By Offerings:
By offering everything as a service (Xaas) market is bifurcated into solution and service. The service segment accounted for the largest market share in 2022. Rising number of businesses are using XaaS services to reduce costs of asset ownership which allow management to focus on entrepreneurial opportunities. Moreover, with XaaS business get access to latest technology with minimal investments.
Furthermore, service segment is also anticipated to showcase faster growth rate during the forecasted period. Digital transformation of business is estimated to fuel the demand for everything as a service.
By Type:
According to types everything as a service market is divided into device as a service (DaaS), security as a service (SecaaS), infrastructure as a service (IaaS), platform as a service (PaaS), software as a service (SaaS), and technology as a service (TaaS), and others. Software as a service (SaaS) accounted to largest market share. SaaS has many business applications, including file email services, auditing functions, automating sign-up for products and services, database management, and Customer relationship management (CRM) systems. Moreover, SaaS offers business remote accessibility, cost effectiveness, and enhanced security.
Furthermore, the Storage as a Service (STaaS) is expected to showcase substantial market growth over the forecasted period. STaaS allows businesses, individuals, and small enterprises to efficiently store and manage multimedia over cloud. Additionally, with STaaS cloud storage could be effectively used as data repositories, for data backup and recovery, and in disaster recovery. STaaS enables business to focus on their core competencies by transferring the responsibility of data management on cloud service providers (CSP).
By Organization Size:
According to organization size the XaaS market is divided into large enterprises and small & medium-sized enterprises. The Large enterprises segment accounted for largest market share. Leading global players are integrating Xaas as they offer cost reduction and better workability.
Moreover, the small & medium-sized enterprises segment is estimated to showcase considerable market growth over the forecasted period. Rising number of startups is estimated to fuel the demand for XaaS in small & medium-sized enterprises segment.
By End Use Vertical:
The end use vertical is divided into banking financial services and insurance (BFSI), manufacturing, oil and gas, metals and mining, petrochemicals, energy and utilities, agriculture, IT and telecommunications, government, media and entertainment, healthcare, and others. The banking financial services and insurance (BFSI) accounted for largest market share in 2022. Leading BFSI players are using XaaS services like software as a service (SaaS) and security as a service (SecaaS) for swift and secure functioning.
Furthermore, the healthcare segment is expected to showcase considerable market growth over the forecasted period. Healthcare industry is expected to utilize XaaS to enhance efficiency of hospital management systems. Additionally, XaaS services such as software as a service (SaaS) and Storage as a Service (STaaS) are expected to gain traction in coming years in order to build and manage electronic medical records.
By Region
The regional segment is divided into Asia-pacific, Europe, North America, South America, and Middle East & Africa. The North America region held dominating market share in the year 2022. Presence of the key XaaS service providers/ vendors in U.S. is one of the major for North America region dominance. Additionally, U.S. had high demand and acceptance rate for subscription based models. Aforementioned factors are the key driving factors for XaaS in North America region.
Moreover, the Asia pacific region is estimated to showcase substantial market growth over the forecasted period. High demand for IT infrastructure by outsourcing companies in countries such as India and Malaysia are projected to be the key driving factors for demand in Asian Pacific region. India is considered world leader in IT outscoring.
Everything as a Service (Xaas) Market Competitive Landscape:
The report on everything as a Service (Xaas) Market presents a comprehensive analysis of macroeconomic factors such as market dynamics, SWOT analysis, segmental analysis, and others. In terms of market players, the data is related to business collaborations, mergers and acquisitions, product innovations, and strategies adopted by competitors. These factors are studied to offer an insightful understanding of current market circumstances. Following are the major market players that comprise the latest market concentration–
• Amazon Web Services (Amazon)
• Microsoft Azure (Microsoft corp.)
• Google Cloud Platform (Alphabet)
• Salesforce, Inc.
• IBM (International Business Machine)
• Oracle
• Cisco
• Hewlett Packard Enterprise (HPE)
• Dell Technologies
• VMware
• ServiceNow
• Dropbox
• Slack Technologies
• Zoom Video Communications, Inc
• Box
• Cynvenio Biosystems
Recent Developments
• June 2022 – Oracle and commvault metallic announced partnership to offer data management as a service to accelerate enterprise hybrid cloud adoption.
•February 2023 - Francisco Partners announced Acquisition of Sumo Logic (SaaS vendor) for USD 1.7 Billion.
Everything as a Service (Xaas) Market is estimated to reach over USD 1886.52 Billion by 2030 from a value of USD 447.96 Billion in 2022, growing at a CAGR of19.69%from 2023 to 2030.
Everything as a service (XaaS) refers to general category of services related to cloud computing and remote access. According to everything as a service concept essentially any IT function can be turned into a service for business consumption. Everything as a service is a broad concept consisting of multiple sub services such as Device as a Service (DaaS), Security as a Service (SecaaS), Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS), and Technology as a Service (TaaS). XaaS have multiple advantages and helps business in multiple ways such as improving expense model. With Xaas, business can effectively reduce costs by buying services on subscription instead of investing hefty amounts into accusation of individual products like hardware devices, software, security and infrastructure. Moreover, IT industry is one of the largest consumers of everything as a service. For instance, according to a survey by Deloitte 75% of the respondent companies reported that XaaS constitutes more than half of their company\'s enterprise IT.
Everything as a Service (Xaas) Market Coverage
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | USD 1886.52 Billion |
| CAGR (2022-2030) | 19.69 % |
| Base Year | 2022 |
| By Offering | Solution and service |
| by Type | Device as a Service (DaaS), Security as a Service (SecaaS), Infrastructure As a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS), and Technology as a Service (TaaS), and Others |
| by Organization Size | Large Enterprises and Small & Medium-Sized Enterprises |
| By End Use Vertical | Banking Financial Services and Insurance (BFSI), Manufacturing, Oil and Gas, Metals and Mining, Petrochemicals, Energy & Utilities, Agriculture, IT and Telecommunications, Government, Media and Entertainment, Healthcare, and Others |
| By End Use | IT & Telecommunications, BFSI, Manufacturing, Healthcare, Education, and Others |
| By Geography | |
| Key Players | Amazon Web Services (Amazon), Microsoft Azure (Microsoft corp.), Google Cloud Platform (Alphabet), Salesforce, Inc., IBM (International Business Machine), Oracle, Cisco, Hewlett Packard Enterprise (HPE), Dell Technologies, VMware, ServiceNow, Dropbox, Slack Technologies, Zoom, Box |
Market Dynamics:
Driver:
Company\'s transformation to asset light model is driving the demand for XaaS:
A rising number of modern businesses are utilizing resources in growth and expansion instead of investing in long term hard assets. Therefore, soring number of businesses choose XaaS subscription-based models over building individual systems.
Capability to enhances business agility in new technology adoption is driving the demand for XaaS :
With XaaS businesses don\'t have to wait prolong for procurement and testing of latest technologies. For instance, according to Deloitte, 40% of the respondent reported access to new technology through XaaS to be main reason for businesses shift to XaaS.
Restraint:
Performance concern is one of the major restraints hampering the market growth. Rising number XaaS users lead to bandwidth, latency, and data storage issues thus resulting in slower retrieval time. Large number of users using XaaS platforms at the same time leads to system failures and slowdowns. Additionally, the integration of multiple cloud services in complex virtual platforms results into management and security issues. Moreover, entire XaaS ecosystem relay on internet for functioning in case of internet breakdowns users\' access is impacted ultimately hampering enterprise operations. Aforementioned operational restraints are hindering the market growth.
Opportunities
Xaas adoption in manufacturing industry poses as one of the most lucrative opportunities for XaaS market in forthcoming years. Rising number of businesses are choosing equipment as a Service (EaaS) over investing large amounts into long term assets. As equipment as a Service allows manufacturers to access equipment without incurring high upfront cost. Additionally, Analytics as a Service (AaaS) is also gaining traction in recent years. AaaS involves vendors providing data analytics services to manufactures on subscription basis. For instance, Altair a SaaS startup focusing manufacturing sector. Offers AI-based simulation platform and data analytics solutions for businesses involved in automotive, electronics, aerospace, and pharmaceuticals manufacturing.
Everything as a Service (Xaas) Market Segmentation:
By Offerings:
By offering everything as a service (Xaas) market is bifurcated into solution and service. The service segment accounted for the largest market share in 2022. Rising number of businesses are using XaaS services to reduce costs of asset ownership which allow management to focus on entrepreneurial opportunities. Moreover, with XaaS business get access to latest technology with minimal investments.
Furthermore, service segment is also anticipated to showcase faster growth rate during the forecasted period. Digital transformation of business is estimated to fuel the demand for everything as a service.
By Type:
According to types everything as a service market is divided into device as a service (DaaS), security as a service (SecaaS), infrastructure as a service (IaaS), platform as a service (PaaS), software as a service (SaaS), and technology as a service (TaaS), and others. Software as a service (SaaS) accounted to largest market share. SaaS has many business applications, including file email services, auditing functions, automating sign-up for products and services, database management, and Customer relationship management (CRM) systems. Moreover, SaaS offers business remote accessibility, cost effectiveness, and enhanced security.
Furthermore, the Storage as a Service (STaaS) is expected to showcase substantial market growth over the forecasted period. STaaS allows businesses, individuals, and small enterprises to efficiently store and manage multimedia over cloud. Additionally, with STaaS cloud storage could be effectively used as data repositories, for data backup and recovery, and in disaster recovery. STaaS enables business to focus on their core competencies by transferring the responsibility of data management on cloud service providers (CSP).
By Organization Size:
According to organization size the XaaS market is divided into large enterprises and small & medium-sized enterprises. The Large enterprises segment accounted for largest market share. Leading global players are integrating Xaas as they offer cost reduction and better workability.
Moreover, the small & medium-sized enterprises segment is estimated to showcase considerable market growth over the forecasted period. Rising number of startups is estimated to fuel the demand for XaaS in small & medium-sized enterprises segment.
By End Use Vertical:
The end use vertical is divided into banking financial services and insurance (BFSI), manufacturing, oil and gas, metals and mining, petrochemicals, energy and utilities, agriculture, IT and telecommunications, government, media and entertainment, healthcare, and others. The banking financial services and insurance (BFSI) accounted for largest market share in 2022. Leading BFSI players are using XaaS services like software as a service (SaaS) and security as a service (SecaaS) for swift and secure functioning.
Furthermore, the healthcare segment is expected to showcase considerable market growth over the forecasted period. Healthcare industry is expected to utilize XaaS to enhance efficiency of hospital management systems. Additionally, XaaS services such as software as a service (SaaS) and Storage as a Service (STaaS) are expected to gain traction in coming years in order to build and manage electronic medical records.
By Region
The regional segment is divided into Asia-pacific, Europe, North America, South America, and Middle East & Africa. The North America region held dominating market share in the year 2022. Presence of the key XaaS service providers/ vendors in U.S. is one of the major for North America region dominance. Additionally, U.S. had high demand and acceptance rate for subscription based models. Aforementioned factors are the key driving factors for XaaS in North America region.
Moreover, the Asia pacific region is estimated to showcase substantial market growth over the forecasted period. High demand for IT infrastructure by outsourcing companies in countries such as India and Malaysia are projected to be the key driving factors for demand in Asian Pacific region. India is considered world leader in IT outscoring.
Everything as a Service (Xaas) Market Competitive Landscape:
The report on everything as a Service (Xaas) Market presents a comprehensive analysis of macroeconomic factors such as market dynamics, SWOT analysis, segmental analysis, and others. In terms of market players, the data is related to business collaborations, mergers and acquisitions, product innovations, and strategies adopted by competitors. These factors are studied to offer an insightful understanding of current market circumstances. Following are the major market players that comprise the latest market concentration–
• Amazon Web Services (Amazon)
• Microsoft Azure (Microsoft corp.)
• Google Cloud Platform (Alphabet)
• Salesforce, Inc.
• IBM (International Business Machine)
• Oracle
• Cisco
• Hewlett Packard Enterprise (HPE)
• Dell Technologies
• VMware
• ServiceNow
• Dropbox
• Slack Technologies
• Zoom Video Communications, Inc
• Box
• Cynvenio Biosystems
Recent Developments
• June 2022 – Oracle and commvault metallic announced partnership to offer data management as a service to accelerate enterprise hybrid cloud adoption.
•February 2023 - Francisco Partners announced Acquisition of Sumo Logic (SaaS vendor) for USD 1.7 Billion.
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| Multi user | : $5460 |
| Corporate user | : $7460 |
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