Everything-as a Service Market Size Worth $1,425.05 Billion By 2032 | CAGR: 20.10%

The global everything-as a service market size is expected to reach USD 1,425.05 billion by 2032, according to a new study by POLARIS Market Research. The report “Everything as a Service Market Share, Size, Trends, Industry Analysis Report, By Offering; By Type; By Organization Size; By Industry Verticals; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The Everything as a Service (XaaS) market refers to a rapidly evolving business model where various products and services are delivered to customers on a subscription basis through cloud-based technologies. It encompasses a wide scope of offerings, and its reach continues to expand as technology evolves. SaaS refers to software applications hosted and provided by a third-party vendor over the Internet. Customers access these applications through a web browser on a subscription basis. Common examples include Microsoft Office 365, Salesforce, and Google Workspace. IaaS involves the provision of virtualized computing resources, such as servers, storage, and networking, over the Internet. Customers can scale their IT infrastructure up or down as needed.

The rising prevalence of proliferation among organizations worldwide to increase their corporate operations and boost customer engagement with the help of cloud-based solutions or services that enhance their staff production, provide improved maintenance, and lower overall operation costs are main factors fostering market growth. Besides this, the growing integration of artificial intelligence and machine learning technologies that provide access to pre-trained models, APIs, and tools for integrating AI capabilities into several applications without deep expertise in the field and rising R&D activities to develop new service solutions catering to emerging consumer demands, are further likely to boost the market at a rapid pace.

• For instance, in February 2023, Huawei Cloud unleashed new digital value with the help of its Everything-as-a-Service at MWC 2023, a new framework specially designed to enable and connect global as well as local partners to maximize the cloud potential.

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Moreover, customers all over the world are favoring subscription-based services instead of purchasing them, as they have lower upfront costs, easier access to premium or expensive offerings, and access to the latest available technology. Thus, companies worldwide are shifting their focus from individual transactions to developing long-term relationships with customers by offering improved services and enhancing customer satisfaction.

• For instance, according to a recent study, the number of people having subscription services is approximately 78% of international adults, with a rise from 71% in 2018, and it is estimated that 53% of all software revenue is generated through a subscription model in 2022.

Everything-as a Service Market Report Highlights

• Software as a Service segment accounted for the largest market share during the forecast period due to its widespread adoption and use in industries including BFSI and IT& telecom.
• In 2022, the large enterprises segment held a significant market share, mainly accelerated by the growing need for service solutions to comply with fluctuating demand for their services.
• The healthcare segment accounted for the highest market share during the forecast period on account of the rising incorporation of XaaS models in different healthcare settings.
• In 2022, the North American region dominated the largest market share, owing to the robust presence of major IT & banking organizations and the rapid adoption of technological advancements.
• The key market players include Accenture, Adobe Inc., Alibaba Group, Amazon Web Services, AT&T, Avaya Inc., Cisco Systems, Dell Technologies, HCL Technologies, IBM Corporation, McAfee, etc.

Polaris Market Research has segmented the everything-as a service market report based on offerings, type, organization size, industry verticals, and region:

Everything-as a Service, Offerings Outlook (Revenue - USD Billion, 2023 - 2032)

• Solutions
• Services

Everything-as a Service, Type Outlook (Revenue - USD Billion, 2023 - 2032)

• Software as a Service
• Platform as a Service
• Infrastructure as a Service
• Communication as a Service
• Network as a Service
• Data as a Service
• Others

Everything-as a Service, Organization Size Outlook (Revenue - USD Billion, 2023 - 2032)

• SMEs
• Large Enterprises

Everything-as a Service, Industry Verticals Outlook (Revenue - USD Billion, 2023 - 2032)

• BFSI
• IT & Telecom
• Media and Government
• Healthcare
• Manufacturing
• Oil & Gas
• Energy & Utilities
• Others

Everything-as a Service, Regional Outlook (Revenue - USD Billion, 2023 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Everything-as a Service Market Report Scope