Everything-as-a-Service Market Latest Trends and Key Drivers Supporting Growth through 2027
The adoption of the cloud has increased tremendously in the recent years and is expected to grow rapidly in the forecast period. The increasing preference of businesses on cloud-based architecture and high return on investment are major factors driving the adoption of cloud.
[USPRwire, Mon Jun 10 2019] The Everything-as-a-Service allows cost saving. These services follow the pay-per-use model through which the companies only have to pay for what they use. The companies only have to make an investment of subscription fee, and no other costs are required. Such factors are significantly driving the growth of Everything-as-a-Service market. The Everything-as-a-Service also provides high flexibility and scalability along with agility. It also motivates the companies to experiment with new technologies at lower costs. Such factors are further driving the growth of Everything-as-a-Service Market.
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The adoption of the cloud has increased tremendously in the recent years and is expected to grow rapidly in the forecast period. The increasing preference of businesses on cloud-based architecture and high return on investment are major factors driving the adoption of cloud. This has also driven a large number of companies to adopt cloud-based services to attain high flexibility and scalability to execute their operations.† These cloud-based services collectively are called as Everything-as-a-Service. Companies in the Everything-as-a-Service market are offering different services based on their solutions. The networking companies are providing services such as Wi-Fi Controller as a service, Smart Data as a service and others. The adoption of the concept of selling value proposition as a service is proliferating, thereby driving the adoption of Everything-as-a-Service. The Everything-as-a-Service allows users to upgrade or downgrade based on budget, thus offering high scalability. It also requires little or no maintenance since this work is done at the service providerís end. Such factors are driving the growth of Everything-as-a-Service market.
Vendors in the Everything-as-a-Service market are focusing on providing faster computing platforms with high connectivity.† They are also focusing on pushing all the services to the internet so that they can be used on demand. Increasing interest in moving everything from hardware, software, IT to a business process in each vertical industry sector to cloud is a key trend in the Everything-as-a-Service market.
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The subscription-based services requires a reliable internet connection to operate and reach anything hosted in an organization. In the absence of an internet connection or a slow connection, the entire operations within an organization will be terminated. Such factors are hampering the growth of Everything-as-a-Service market. Also, everything hosted over cloud is prone to cyber-attacks, which may result in loss or tampering of data. These factors are also restraining the companies to shift the subscription-based model, thereby restricting the growth of Everything-as-a-Service market.
The Everything-as-a-Service market can be categorized on the basis of the type of service and industry. On the basis of type of service, the Software as a Service segment in the Everything-as-a-Service market has significant share in the market since it was the first subscription based service offered. The demand of Desktop-as-a-Service (DaaS) and Data-as-a-Service (DaaS) in the Everything-as-a-Service market is expected to grow in the forecast period. The adoption of Everything-as-a-Service by Retail and e-commerce and Manufacturing sector is expected to rise in the forecast period.
Examples of some of the key players operating in the Everything-as-a-Service Market are Solution Analysts Pvt Ltd., Nokia Corporation, Accenture LLP, Cisco Systems, Google Corporation, IBM Corporation, Microsoft Corporation, HCL Technologies Limited, Jabil Inc., and AT&T Inc.
The Everything-as-a-Service market is segmented across North America, Latin America, Western Europe, Eastern Europe, China, SEA and others of APAC, Japan, and Middle East & Africa. North America is expected to be a large market for Everything-as-a-Service as a majority of the Everything-as-a-Service vendors such as Google Corporation, AT&T Inc. and IBM Corporation are based in the region. The increasing spending of European countries such as Germany, U.K. on cloud based services is driving the adoption of Everything-as-a-Service in the region. The growing popularity of Everything-as-a-Service in developing regions, such as APEJ, Latin America and parts of Africa are characterized by the increased spending on low investment services to gain high return on investment in the regions. Rising disposable income among people in the countries mentioned above is likely to increase the scope of penetration of Everything-as-a-Service in these regions in the near future.
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