The global XaaS (Anything-as-a-Service) market grew at a CAGR of around 25.5% during 2021-2026. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.
Anything-as-a-service (XaaS) refers to an off-premises service wherein a wide range of IT resources are provided to users over the cloud. A service provider generally offers these services on the pay-per-use pricing model and users only pay for what they use. It reduces capital expenditure, minimizes downtime and disruptions, and ensures the smooth functioning of the organization. Consequently, it is widely employed in the telecommunication and information technology (IT), and banking, financial services and insurance (BFSI) sectors worldwide.
Market Trends:
Due to the rapid spread of the coronavirus disease (COVID-19), governments of numerous countries have imposed lockdowns, which has further impelled several organizations to shift to remote working models. Consequently, there is an increase in the demand for XaaS for providing remote data access. Apart from this, the growing need for managing massive data volumes in small and medium enterprises (SMEs) is also bolstering the market growth. Furthermore, the rising trend of network virtualization (NV) is expected to expand the application of XaaS in various end use industries.
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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Segmentation:
Market 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
Market Breakup by Industry
- IT and Telecom
- BFSI
- Manufacturing
- Others
Market Breakup by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
View Report TOC, Figures and Tables: https://bit.ly/3Elg8n2
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being AWS (SGX: AWS), Cisco (NASDAQ: CSCO), Google (NASDAQ: GOOGL), IBM, Microsoft, Alcatel-Lucent, ATT, 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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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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