The global Anything as a Service (XaaS) market is anticipated to grow at a considerable CAGR of 24.1% during the forecast period (2022-2028). XaaS is a general term used collectively for cloud-based remote services, including storage as a service, security as a service, network as a service, and many others. The major factor attributing to the growth of the global XaaS market includes the increasing application of the XaaS platform for security as a service, database as a service, and networks as a service in the IT & telecom industry. According to the report published by the India brand equity Foundation (IBEF) in March 2022, with the described base of 1.16 billion, India is the second-largest telecom industry globally and is expected to consistently grow during the forecast years. The gross revenue of the Indian telecom industry was around $37.36 billion in 2021 and $8.74 billion in the first quarter of 2022.
The application of XaaS is also increasing in other industries, including BFSI, manufacturing, and other industries due to several benefits of using the XaaS platform. The benefits include improvement in the expense model of an enterprise, enhancement in the speed of applications and business processes, and shifting of IT resource to higher-value projects of an enterprise. Thus, propelling the growth of the global XaaS market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in March 2022, VMware Inc. launched fully managed storage as a service called “Cloud Flex Storage”. It is the scalable, elastic, and cloud-native solution of storage that is fully managed by VMware and is offered with a pay-as-you-go pricing strategy on Amazon Web Services Inc. infrastructure.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Service Type
- By End-User Industry
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- IBM Corp., Microsoft, AT&T Inc., Dell Inc., and Amazon Web Services Inc., among others
A full report is available at: https://orionmarketreports.com/global-anything-as-a-service-market/108177/
Global Anything as a Service Market Report by Segment
By Service Type
- Storage
- Security
- Unified Communications
- Network
- Database
- Backend
- Others
By End-user Industry
- IT & Telecom
- BFSI
- Manufacturing
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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