By: infotechalive August 30, 2022
Now get to know about XaaS: A Gem of Cloud Transformation . The agility at which the world is progressing, cloud computing is at the center stage. Organizations are rushing in to earn the perks of obtaining leaner and more productive operations by incorporating the latest advancements.
What is XaaS?
XaaS stands for “Everything as a Service” or “Anything as a Service”. A segment of cloud computing and services that enable remote access. It combines a number of tools delivered via the cloud, into a single service. A few instances of such services are listed below:
- WaaS – Workplace as a Service guides organizations to deal with the purchase, delivery of products, customer service, maintenance services, and more.
- SaaS – A software is licensed on a subscription-basis and all the operations take place through the internet.
- PaaS – A cloud-based development and deployment environment. Users can access the resources needed to provide a solution. All operations occur online.
Current and Future Market Projections
As per a report by fortunebusinessinsights, the global market size of XaaS was USD 349.71 billion in 2020. The growth rate is estimated to go up to USD 2384.12 billion by 2028. It is a CAGR of 28.2% in the 2021-2028 timeline.
Covid-19 has been a primary factor that led to this growth analysis. However, the CAGR also took into account the pre-pandemic and post-pandemic effects on businesses. The report considered the services provided by the market leaders such as Amazon Web Services and IBM’s Cloud infrastructure as a service (IaaS), platform as a service (PaaS), software as a service (SaaS), and cloud security.
Why Incorporate XaaS?
The major advantages of implementing XaaS can be listed below:
- Higher Degree of Efficiency
- Reducing Costs
- Option of Scalability
- Opportunity to Avail the Best Services
- Higher ROI
- High Levels of Security
Cloud services are growing rapidly, with every passing moment. More and more companies, big or small, are taking up the services. Connect with us to know more. Keep following our blogs to know about Cloud Transformation .