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Everything-as-a-Service (XaaS) or anything-as-a-service forms the core of cloud computing. An increasing number of services and utilities delivered through the cloud, and the ability to combine these into a single virtual service is leading to increased XaaS market traction. Everything-as-a-Service encompasses services and applications that users can access on the Internet upon request. Organizations are adopting XaaS because the as-a-service model offers cost reduction, simplify IT deployments, and guarantee a streamlined technology experience. XaaS presents a vast opportunity to capture new revenue streams, bundling IaaS, SaaS, HwaaS, core business services, and IoT into one offering.
The robust growth of corporate data is a result of the digital transformation of organizations. Cloud-based storage provides an efficient and economical option for data storage. Additionally, the declining cost of purchasing subscribed services having improved connectivity and bandwidth is also expected to create a positive impact on market progress. The main reason behind organizations adopting Everything-as-a-Service (XaaS) services is the development of a new cloud computing model evolving businesses. According to sources, nearly 90% of enterprises have already started using some form of XaaS comprising platform as a service, software as a service and infrastructure as a service.
Key Market Driver -
• Adoption of cloud computing model with declining cost of purchasing subscribed services • Capabilities such as faster implementation of new solutions, customization, backlogs reduction and improved business agility • Growing need for scalable storage services and the widespread digitalization of organizations
Key Market Restraint -
• Factors such as bandwidth and connectivity issues may occur in some cases
With everything-as-a-service or XaaS, the implementation of new solutions has become rapid due to reduced backlogs, thereby improving productivity. Also, the agility of the information system is increased, which is leading towards a growing focus on the business goals instead of technical issues. Advanced capabilities such as scalability and flexibility are anticipated to pave the way for innovative everything-as-a-service market opportunities. Further, XaaS is easy to manage as it can substitute the complex traditional methods and can be customized to support the mobile workforce.
Huge investments made by the key market players in XaaS solutions have proved beneficial for the IT infrastructure by significantly reducing redundancies. In global everything-as-a-service market, Amazon Web Services, Microsoft Corporation, and Google Inc. are leading the market whereas Other prominent players are AT&T Inc., Avaya Inc., Cisco Systems Inc., IBM Corporation, Big Switch Networks, CipherCloud, enStratus Networks LLC, McAfee, LLC, Juniper Networks, Inc., M5 Networks, Inc., Oracle Corporation, and, Orange Business Services.
The global everything-as-a-service market demand in Latin America is witnessing the development of customer-focused, and outcome-driven building blocks capable of supporting the digitization trend in businesses. This is because XaaS envisions business capabilities, processes, and products as a collection of horizontal services and not as discreet vertical offerings. Asia Pacific is projected to witness a healthy growth, mainly due to huge traction gained by public cloud services with enterprises focussing on enhancing their digital initiatives. Cloud computing has emerged as a core business necessity, which has positively affected the everything-as-a-service market landscape. The aim to achieve better business agility, increased cost savings, return on investment, and enhanced customer satisfaction is a prominent market trend observed in the region.
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The everything-as-a-service market share in North America is estimated to be fairly large, which can be attributed to the widespread deployment of the pay-per-use model, shifting the cost from capital expenditure to operational spending. The surging virtualization of IT solutions such as network functionalities and data centers has contributed to the early adoption of XaaS in the region. Also, in “cloud-native” companies, the adoption of XaaS is taking place at a rapid pace compared to “IT-traditionalist” organizations.
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