The everything as a service global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Everything as a Service Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The everything as a service market size has grown exponentially in recent years. It will grow from <b>$535.77 billion in 2023 to $652.74 billion in 2024 at a compound annual growth rate (CAGR) of 21.8%. </b> The growth in the historic period can be attributed to cost efficiency, scalability, remote accessibility, focus on core competencies, rapid deployment, reduced time to market.
The everything as a service market size is expected to see exponential growth in the next few years. It will grow to <b>$1362.31 billion in 2028 at a compound annual growth rate (CAGR) of 20.2%. </b> The growth in the forecast period can be attributed to data security and compliance, enhanced cybersecurity measures, focus on sustainability and green computing, disaster recovery and business continuity, regulatory compliance management. Major trends in the forecast period include expansion of xaas offerings, edge computing services, subscription-based models, focus on sustainability, managed services growth, industry-specific xaas solutions, collaboration and interoperability.
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Scope Of Everything as a Service Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Everything as a Service Market Overview
Market Drivers –
The increase in demand for subscription-based pricing models is expected to propel the growth of the everything-as-a-service market going forward. A subscription-based pricing model allows a client or organization to purchase or subscribe to an IT provider’s service for a specified amount of time. The adoption of everything as a service reduces operational costs by ordering description-based services only when they are required. This solution enhances the client experience while also assisting in usage monitoring. For instance, in March 2021, according to a report published by the Motion Picture Association (MPA), a UK-based provider of entertainment services, in 2021, there were 1.3 billion internet video service subscribers worldwide, an increase of 14% over the previous year. Due to a $17.9 billion, or 26%, growth in 2021, online video subscription overtook satellite TV as the second-largest subscription revenue industry. Additionally, in 2021, there were 353.2 million online video subscriptions in the United States, up 14% from the previous year. Therefore, an increase in demand for subscription-based pricing models is driving the growth of the everything as a service market.
Market Trends –
The adoption of artificial intelligence and IoT as a service is a key trend gaining popularity in the everything as a service market. Internet of Things (IoT) services are a collection of end-to-end services that allow businesses to design, develop, deploy, and run IoT solutions, including advisory consulting for IoT planning. The outsourcing of artificial intelligence (AI) is done through a third-party service called artificial intelligence as a service (AIaaS). With AI as a service, people and businesses may experiment with the technology for a variety of uses with a smaller initial investment and lesser risk. IoT-as-a-Service enables businesses to swiftly harness the full potential of connected devices, adopt cutting-edge technologies, and shorten the time to value. For instance, in May 2021, Google LLC, a US-based technology company, introduced Vertex Al cloud services that are completely managed and are Al-based. This platform solution is intended to assist businesses in expediting the implementation and maintenance of Al models. Vertex AI unifies the Google Cloud services used for machine learning development under a single UI and API. Companies can quickly train and compare models in Vertex AI using AutoML or custom code training, and all of their models are kept in a single model repository. On Vertex AI, these models can now be deployed to the same endpoints.
The everything as a service market covered in this report is segmented –
1) By Offerings: Solutions, Services
2) By Enterprise: Small and Medium Enterprise, Large Enterprise
3) By End-User: BFSI, IT and Telecommunications, Government, Media and Entertainment, Healthcare, Manufacturing, Oil and Gas, Metals and Mining, Other End Users
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Regional Insights –
North America was the largest region in the everything as a service market in 2023. The regions covered in the everything as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the everything as a service market report are Cisco Systems Inc., IBM Corporation, AT&T Inc., Google LLC, Accenture plc, Orange Business Services Pvt. Ltd., Sterlite Technologies Limited, Oracle Corporation, McAfee LLC, Avaya Inc., Commvault Systems Inc., Solution Analysts Pvt. Ltd., Dell Inc., Juniper Networks Inc., SAP SE, Microsoft Corporation, Salesforce Inc., Adobe Inc., Alibaba Group Holding Limited, HCL Technologies Limited, Nokia Corporation, ServiceNow Inc., Workday Inc., Alphabet Inc., Amazon Inc., Zoho Corporation, Heroku Inc., Portainer Inc., Green Cloud Technologies LLC, Nutanix Inc., Red Hat Inc., Citrix Systems Inc., Mimecast Services Limited, Dropbox Inc., DocuSign Inc., Zoom Video Communications Inc., Twilio Inc.
Table of Contents
1. Executive Summary
2. Everything as a Service Market Characteristics
3. Everything as a Service Market Trends And Strategies
4. Everything as a Service Market – Macro Economic Scenario
5. Global Everything as a Service Market Size and Growth
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31. Global Everything as a Service Market Competitive Benchmarking
32. Global Everything as a Service Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Everything as a Service Market
34. Everything as a Service Market Future Outlook and Potential Analysis
35. Appendix
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