Global Everything as a Service (XaaS) Market Size, Share & Industry Trends Analysis Report By Organization Size, By Vertical, By Offering, By Type (SaaS, CaaS, DaaS, SECaaS, DRaaS, IaaS, PaaS, and Others), By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Everything as a Service (XaaS) Market
Market Report Description
The Global Everything as a Service (XaaS) Market size is expected to reach $1610.5 billion by 2028, rising at a market growth of 19.2% CAGR during the forecast period.
Everything as a Service (XaaS), a cloud computing concept, describes how customers may access a wide range of services and applications online. Anything as a service, or XaaS, is another name for the growing number of services that are provided through the cloud over the Web as opposed to locally or on-premises.
Users may choose from a huge selection of services and apps with XaaS. It helps companies to cut costs by subscribing to cloud service providers' services. The expense is shifted from capital investment to operating expenditure via its pay-per-use business model. The fast development and use of cloud computing have led to an increase in the acceptance of XaaS by businesses.
XaaS is a collective phrase for the provision of any good or service. It includes all of the many services, tools, and technology that manufacturers offer to consumers across a network, most often the internet, as an alternative to delivering them locally or onsite to an organization. This catch-all phrase describes service provisions that may be used on-demand and are financed by a pay-as-you-go cloud services pricing model.
With IT services provided on demand by a managed service provider, XaaS products may be scaled up or down as necessary. The development of XaaS is likely to be aided by the combination of cloud computing and widely available, high-bandwidth internet connectivity. As consumers move more workloads to the cloud, there are indications from manufacturers and researchers that XaaS will become a widely used business model.
COVID-19 Impact Analysis
The XaaS model choice helped businesses boost operational effectiveness and improve employee satisfaction during the pandemic. Therefore, an unscaled demand was seen across many countries and verticals throughout the era as the COVID-19 pandemic acted as a boom for this sector. Organizations have embraced cloud-based services, such as project management, video conferencing, and a variety of communications tools that are provided as a service. The XaaS model choice helped businesses boost operational effectiveness and improve employee satisfaction during the pandemic.
Market Growth Factors
Growing Business Operations And Operational Efficiency
Organizations all around the world are quickly moving their workloads from traditional infrastructure to cloud-based platforms. Enterprises may increase corporate operations and boost consumer engagement by using cloud-based services and solutions. Enterprises may increase staff productivity, lower overall costs, and provide better maintenance and support due to cloud-based services including software and platforms.
The Promotion Of Subscription-Based Pricing
Customers favor paying for subscription-based services since they may utilize them of the need to acquire cutting-edge technology and solutions. Users have a choice in the subscription-based service's price to choose the best technology and services. Customers that use subscription-based services can make operational investments in a variety of IT funds. Using subscription-based on-demand services, everything as a service lowers operational expenses.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships & Collaborations.
Market Restraining Factors
Concerns Over Data Security Are Increasing
As more and more huge volumes of data are produced, there have been more cyberattacks, data leaks, data loss, and thefts. Whether or not organizations are aware of this, identity management and access control systems are highly vital and should be securely secured. Unauthorized persons can't access sensitive data without using tools for identity and entry control.
Based on the Offering, the Everything as a Service (XaaS) Market is segmented into solutions and services. The service segment witnessed a significant revenue share in the everything as a service (XaaS) market in 2021. It is because it refers to the range of tools and items that may be purchased utilizing a consumption model known as " a service." Companies delegate their IT responsibilities to the service provider under this arrangement.
On the basis of Type, the Everything as a Service (XaaS) Market is divided into CaaS, DaaS, SECaaS, DRaaS, IaaS, PaaS, SaaS, and Others. The DaaS segment witnessed a promising revenue share in the everything as a service (XaaS) market in 2021. Data as a Service, or DaaS, is the name given to cloud-based software solutions used for handling data, such as maintaining data in a data warehouse or using business intelligence to analyze data. Software as a Service makes it possible (SaaS).
Organization Size Outlook
By Organization Size, the Everything as a Service (XaaS) Market is classified into Large enterprises and SMEs. The large enterprise segment garnered the highest revenue share in the everything as a service (XaaS) market in 2021. This is because the major firms are increasingly utilizing cloud-based SaaS, PaaS, and IaaS systems. Large firms spend the most money using cloud services because of their benefits, such as easy access for remote workers and storage accessibility.
Based on the Vertical, the everything as a service (XaaS) Market is bifurcated into BFSI, IT and Telecommunications, Government, Media and Entertainment, Healthcare, Manufacturing, Oil and Gas, Metals and Mining, Petrochemicals, Energy and Utilities, Agriculture, and Others. The Telecom & IT segment witnessed a substantial revenue share in the everything as a service (XaaS) market in 2021. A pricey license or a one-time advance purchase are less flexible consumption models than XaaS. Instead, companies only pay for the IT services they utilize. Usually, a subscription or pay-per-use business model is used for it.
|Market size value in 2021||USD 478.4 Billion|
|Market size forecast in 2028||USD 1610.5 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 19.2% from 2022 to 2028|
|Number of Pages||356|
|Number of Tables||553|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Companies Strategic Developments, Company Profiling|
|Segments covered||Offering, Type, Organization Size, Vertical, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-wise, the Everything as a Service (XaaS) Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment procured the highest revenue share in the everything as a service (XaaS) market in 2021. Authorities in North America have shown considerable interest in putting XaaS infrastructure in place. The U.S. market for subscription-based general category services has expanded due to XaaS technology, creating new growth potential for XaaS products.
Free Valuable Insights: Global Everything as a Service (XaaS) Market size to reach USD 1610.5 Billion by 2028
KBV Cardinal Matrix - Everything as a Service (XaaS) Market Competition Analysis
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation are the forerunners in the Everything as a Service (XaaS) Market. Companies such as Accenture PLC, Amazon.com, Inc., IBM Corporation are some of the key innovators in Everything as a Service (XaaS) Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accenture PLC, Alibaba Group Holding Limited, Amazon.com, Inc., AT&T, Inc. (AT&T Intellectual Property), Cisco Systems, Inc., HCL Technologies Ltd. (HCL Enterprises), Microsoft Corporation, Nokia Corporation, Oracle Corporation, and IBM Corporation.
Strategies deployed in Everything as a Service (XaaS) Market
» Partnerships, Collaborations and Agreements:
- Sep-2022: Cisco partnered with Wipro, a multinational company. Following this partnership, the companies aimed to deliver hybrid cloud as-a-service to their customers through the integration of private and public clouds into the edge.
- Aug-2022: AT&T entered into a partnership with Oracle, an American multinational computer technology company. Through this collaboration, AT&T aimed to gain new capabilities for the application and database workloads of the company running throughout the Oracle Cloud. Furthermore, this collaboration would build on AT&T's use of Oracle Fusion Cloud Enterprise Resource Planning, Oracle Cloud Infrastructure, Oracle Fusion Cloud Customer Experience (CX), as well as other Oracle Cloud services.
- Aug-2022: Oracle partnered with Anaconda, a distribution of the R and Python programming languages. With this partnership, the companies aimed to ensure the security of the open-source pipeline within high-performance ML over Oracle Cloud Infrastructure.
- Aug-2022: Microsoft teamed up with Larsen & Toubro Infotech, a digital solutions, and technology consulting company. Under this collaboration, the companies would focus on the development of high-value cloud solutions for businesses.
- Aug-2022: Alibaba partnered with STS, a leading ICT, and digital transformation solutions provider. Through this partnership, the companies aimed to offer state-of-the-art cloud computing services to local businesses, public sectors, and developers throughout their digital transformation across Jordan.
- Jul-2022: Oracle entered into a partnership with Microsoft, an American multinational technology corporation. Following this partnership, the companies aimed to offer streamlined and direct access to Oracle databases over the Oracle Cloud Infrastructure in order to streamline the multi-cloud experience.
- Jul-2022: Oracle came into a partnership with Claro, a Mexican telecom group. Through this partnership, the companies would jointly develop and deliver Oracle Cloud Infrastructure services to private as well as public sector businesses and organizations throughout Columbia.
- Jun-2022: Oracle partnered with Kyndryl, an IT infrastructure services provider. With this partnership, the companies aimed to help customers in expediting their migration to the cloud by offering managed cloud solutions to businesses across the world.
- Jun-2022: Oracle came into a partnership with Commvault, an American publicly traded data protection and data management software company. Under this partnership, the companies would offer Commvault's Metallic Data Management as a Service on the Oracle Cloud Infrastructure to fulfill customers' demand for data mobility, security, and agility.
- Jun-2022: HCL teamed up with Amazon Web Services, a subsidiary of Amazon. Following this collaboration, the companies aimed to develop CloudSMART for AWS, a constant modernization experience in order to aid businesses in expediting their cloud business transformation.
- May-2022: Accenture partnered with Red Hat, a leading enterprise open source solutions provider. Under this partnership, the companies aimed to focus on the development of novel solutions in order to aid businesses in navigating hybrid and multi-cloud environments seamlessly, determine their vision, and expedite their pace of innovation.
- May-2022: Accenture teamed up with SAP a leader in business applications. Following this collaboration, the company aimed to develop a new integrated portfolio to support companies in migrating to the cloud while also delivering innovations continuously. Moreover, the new offering would feature a comprehensive range of Accenture’s transformation services, like proprietary intelligent tools and customized cloud services.
- May-2022: Amazon collaborated with IBM, an American multinational technology company. Following this collaboration, Amazon Web Services would integrate IBM Software as-a-Service over its AWS platform to allow its customers to leverage the benefits of this solution.
- Mar-2022: AT&T partnered with Microsoft, an American multinational technology company. Under this partnership, AT&T would integrate its 5G network capabilities into the private mobile edge computing of Azure to develop a new solution, AT&T Private 5G Edge. Moreover, the new solution would significantly transform the way businesses operate.
- Feb-2022: Accenture collaborated with League, a platform technology company. Through this acquisition, the company aimed to develop experiences while also increasing access to enhanced outcomes for providers, payers, people, and retail pharmacies. Moreover, the companies would also scale platform deployments as well as innovations in order to introduce customized digital healthcare experiences.
- Feb-2022: Nokia came into a partnership with Atos, a leader in digital transformation. This partnership aimed to offer market-leading 4/5G private wireless networking solutions to businesses along with related digital services. Moreover, this partnership would also allow enterprises to work together in order to develop further innovative services.
- Jan-2022: Amazon collaborated with Stellantis, a leader in automaker and mobility solutions. With this collaboration, the companies aimed to transform the in-vehicle experience for customers of Stellantis while also boosting the migration of the mobility industry to a sustainable, software-defined future.
- Dec-2021: HCL came into a partnership with KloudGin, a leader in providing cloud-based asset management and field service software. Through this partnership, the companies aimed to offer advanced cross-silo solutions to key companies and utilities in sectors including telecom, water/wastewater, commercial services operations, and oil & gas.
- Nov-2021: Accenture came into a partnership with Icertis, a software company. Under this partnership, Accenture would integrate its digital transformation capabilities into the exceptional contract intelligence technology of Icertis in order to help industrial customers to gain improved visibility throughout their contracts. Moreover, this partnership would also allow customers to minimize risks and more effectively contract processes.
- Nov-2021: Microsoft partnered with Kyndryl, a leading IT infrastructure services provider. Following this partnership, the companies aimed to integrate their leading capabilities and expertise in serving enterprise customers to develop Microsoft Cloud-built state-of-the-art solutions. Moreover, these solutions would expedite the adoption of hybrid cloud and modernization of processes as well as applications. Furthermore, the new solutions also aimed to support mission-critical workloads while also enabling modern work experiences for customers.
- Nov-2021: Amazon teamed up with Goldman Sachs, an American multinational investment bank and financial services company. Through this collaboration, the companies aimed to develop New Data Management as well as Analytics Solutions to help Financial Services businesses.
- Aug-2021: Accenture entered into a partnership with Kubota, a multinational corporation based in Japan. Under this partnership, the companies would jointly develop and deploy solutions intending to improve the safety and productivity of food, support water resources, and waste circularity, and enhance urban and living environments.
- Feb-2021: IBM came into partnership with Palantir Technologies, a public American software company. The partnership includes IBM's hybrid cloud data platform developed to provide AI for business, with Palantir's next-generation operations platform for creating applications.
- Jan-2021: Microsoft collaborated with Tanla Platforms, a cloud communications company. Together, the companies introduced Wisely, a Blockchain-enabled communications platform-as-a-service (CPaaS) offering based on Azure Cloud. The network-based on Blockchain delivers comprehensive data visibility, allowing one source of truth for every stakeholder.
- Dec-2020: Amazon Web Services formed a collaboration with Twitter. Under this collaboration, Twitter selected AWS to offer global cloud infrastructure to provide Twitter timelines. Twitter would leverage AWS’s proven infrastructure and suite of services to complement the delivery of millions of daily Tweets.
- Oct-2020: IBM joined hands with AT&T, an American multinational telecommunications company. This partnership aimed to help businesses in expediting their adoption of 5G technologies through IBM Cloud Satellite.
- May-2020: AWS extended its collaboration with Red Hat, an American multinational software company. This expansion aimed to provide Amazon Red Hat OpenShift, a jointly managed and supported enterprise Kubernetes service on AWS. Amazon Red Hat OpenShift is a wholly managed service, which allows IT companies to fastly develop and implement applications in AWS on Red Hat’s powerful, enterprise Kubernetes platform, utilizing similar tools and APIs.
» Product Launches and Product Expansions:
- Sep-2022-Sep Microsoft launched the Azure Orbital Cloud Access, a brand-new service. The new solution aimed to serve enterprise IT professionals in order to fulfill their demand for connectivity with the aim to reduce downtime.
- Jun-2022-Jun HCL rolled out the Industry NeXT, a transformational framework. The new solution aimed to help customers in reinventing their businesses digitally. Furthermore, the new solution would also enable businesses all over the world to plan, prepare, and exceptionally transform into a collaborative ecosystem.
- May-2022-May Microsoft unveiled MDR. With this launch, the company aimed to establish its position in the Everything-As-A-Service industry while also helping customers to proactively detect and eliminate threats throughout Microsoft Defender data, including Office 365, endpoints, cloud applications, as well as identity.
- May-2022-May HCL rolled out X by HCL Technologies, a seamless digital engagement platform. With this launch, the company aimed to allow businesses to enhance consumer loyalty while also accelerating conversions via customized omnichannel marketing.
- Feb-2022-Feb Cisco launched the Wi-Fi 6E; Catalyst 9000X series switches; and Private 5G for the enterprise as a managed service, a new suite of technologies. Through this product launch, the company aimed to aid organizations in scaling networks and digitizing operations rapidly to redefine the campus experience.
- Feb-2022-Feb Nokia unveiled the Nokia AVA Network Data Analytics Function and iSIM Secure Connect, two new SaaS services. This product launch aimed to help businesses and CSPs in expediting the time to value they realize through their services portfolio by migrating to an agile model built on software consumed purely on demand via a subscription.
- Nov-2021-Nov Nokia launched various SaaS services for CSPs. Through this product launch, the company aimed to commercially launch the Nokia Data Marketplace via a SaaS framework in order to provide a secure and easy approach for CSPs to exchange and access data.
- Oct-2021-Oct Alibaba rolled out Yitian 710, a new server chip. The new solution aimed to accelerate the competitiveness and efficiency of its cloud computing business.
- Apr-2021-Apr IBM launched the industry's first financial services-ready cloud platform, IBM Cloud for Financial Services. It includes the support for Red Hat OpenShift and other cloud-native services. IBM Cloud for Financial Services is developed to assist to minimize the risk for financial institutions, their partners & FinTechs, and advance faster with built-in controls, which are performed by the whole ecosystem.
- Mar-2021-Mar Cisco unveiled the new Network-as-a-Service solutions. With this launch, the company aimed to offer streamlined IT along with flexible procurement for customers seeking higher agility, speed, and scale.
- Feb-2021-Feb Microsoft India introduced Azure Stack HCI, a new hyper-converged infrastructure (HCI). This launch enables users to effortlessly adopt a multi-cloud, multi-edge hybrid approach. It offers companies with effortless access to Microsoft Azure for hybrid cloud scenarios over remote offices, data centers, cloud, and edge locations.
- Feb-2021-Feb Microsoft rolled out the Azure Stack hyper-converged infrastructure, a new hybrid cloud solution in India. This product launch aimed to support businesses in building and running cloud-native applications along with exceptional access to on-premise cloud services through current processes, tools, and skillsets.
- Dec-2020-Dec Microsoft introduced the latest data governance solution in a public preview on its cloud platform called Azure Purview. This launch automates the discovery of data and cataloging and also reduces compliance risk and assists users to map all their information regardless of where it resides, to offer an end-to-end view of their data estate.
- Sep-2020-Sep Oracle introduced new cloud services, Oracle data safe, Oracle cloud guard, and Oracle maximum security zones. These services offer centralized security configuration and also automated enforcement of security practices. They are designed to help in safeguarding cloud workloads and data from risks by cyber threats.
» Acquisitions and Mergers:
- Sep-2022: Accenture acquired the Beacon Group, a strategy consulting company. This acquisition aimed to strengthen the capabilities of Accenture to aid C-suite leaders in making fact-based decisions for segmentation, targeting, and routes to growth.
- Aug-2022: Accenture completed its acquisition of Eclipse Automation, a vendor of automation and robotics solutions. This acquisition aimed to aid customers in building factories of the future to enable Accenture to provide automated production lines with the ability to leverage data, cloud, and AI capabilities.
- Jul-2022: Accenture took over Stable, a commerce agency. With this acquisition, the company aimed to help customers by expediting growth and sustaining relevance.
- Dec-2020: IBM signed an agreement to acquire Nordcloud, a European leader in cloud implementation, application transformation, and managed services. This acquisition aims to advance IBM's cloud migration and transformation capabilities, a crucial aspect of its hybrid cloud platform growth strategy.
- Dec-2020: IBM acquired Expertus Technologies, a Montreal-based fintech company. The acquisition aimed to strengthen IBM's portfolio as an end-to-end digital payments solution provider and further improve IBM's hybrid cloud & AI strategy.
Scope of the Study
Market Segments Covered in the Report:
By Organization Size
- Large Enterprise
- Telecom & IT
- Media & Entertainment
- Oil & Gas
- Energy & Utilities
- Metals & Mining
- Agriculture & Others
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Accenture PLC
- Alibaba Group Holding Limited
- Amazon.com, Inc.
- AT&T, Inc. (AT&T Intellectual Property)
- Cisco Systems, Inc.
- HCL Technologies Ltd. (HCL Enterprises)
- Microsoft Corporation
- Nokia Corporation
- Oracle Corporation
- IBM Corporation
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