Anything-as-a-Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Anything-as-a-Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global anything-as-a-service (XaaS) market size reached US$ 238.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 674.5 Billion by 2028, exhibiting a growth rate (CAGR) of 18.4% during 2023-2028.

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.

Key Market Segmentation:
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 2023-2028. Our report has categorized the market based on service area and industry.

Breakup by Service Area:

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

Breakup by Industry:

IT and Telecom
BFSI
Manufacturing
Others

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:
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.

Key Questions Answered in This Report
1. What was the size of the global anything-as-a-service market in 2022?
2. What is the expected growth rate of the global anything-as-a-service market during 2023-2028?
3. What are the key factors driving the global anything-as-a-service market?
4. What has been the impact of COVID-19 on the global anything-as-a-service market?
5. What is the breakup of the global anything-as-a-service market based on the service area?
6. What is the breakup of the global anything-as-a-service market based on the industry?
7. What are the key regions in the global anything-as-a-service market?
8. Who are the key players/companies in the global anything-as-a-service market?