The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Exponential Growth Trajectory:

• The everything-as-a-service (XaaS) market has witnessed exponential growth, surging from $535.77 billion in 2023 to $652.74 billion in 2024, with a remarkable compound annual growth rate (CAGR) of 21.8%.
• Factors driving historic growth include cost efficiency, scalability, remote accessibility, and rapid deployment.

Anticipated Expansion:

• The XaaS market is poised for continued exponential growth, projected to reach $1362.31 billion by 2028, boasting a CAGR of 20.2%.
• The forecasted growth is attributed to data security, enhanced cybersecurity measures, sustainability focus, disaster recovery, and regulatory compliance management.

Subscription-Based Models Fuel Growth:

• Increasing demand for subscription-based pricing models is a significant driver of XaaS market growth.
• Subscription models reduce operational costs, enhance user experience, and facilitate usage monitoring, catering to evolving consumer preferences.
• The Motion Picture Association reports a surge in online video subscriptions worldwide, underscoring the popularity of subscription-based services.

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Key Players Driving Innovation:

• Major companies shaping the XaaS market landscape include Cisco Systems Inc., IBM Corporation, Google LLC, and Microsoft Corporation, among others.
• These companies lead the industry with innovative solutions and services catering to diverse market needs and demands.

Adoption of AI and IoT as Services:

• Adoption of artificial intelligence (AI) and Internet of Things (IoT) as services emerges as a prominent trend.
• IoT services enable businesses to leverage connected devices, adopt cutting-edge technologies, and accelerate time-to-value.
• AI as a service (AIaaS) allows businesses to experiment with AI technologies with reduced initial investment and risk.

Strategic Acquisitions Driving Market Presence:

• Calian Group Ltd.’s acquisition of Computex Technology Solutions for $30 million in March 2022 signifies strategic expansion in the XaaS market.
• This acquisition strengthens Calian’s presence in the US market and enhances its IT and cybersecurity offerings globally.

Market Segmentation:

• Offerings: Solutions, Services
• Enterprise: Small and Medium Enterprise, Large Enterprise
• End-User: BFSI, IT and Telecommunications, Government, Media and Entertainment, Healthcare, Manufacturing, Oil and Gas, Metals and Mining, Others

Dominance of North America:

• North America emerges as the largest region in the XaaS market in 2023, reflecting its substantial market share and influence in driving industry trends and innovations.

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The Everything as a Service Global Market Report 2024  provides an overview of the everything as a service market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The everything as a service market forecast analyzes everything as a service market size, everything as a service market share, leading competitor and their market positions.

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