The analysts forecast the global XaaS market to grow at a CAGR of 38.22% during the period 2016-2020.
Global Anything-as-a-Service (XaaS) Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The report covers the present scenario and the growth prospects of the global XaaS market for 2016-2020. To calculate the market size, we consider the revenue generated from services, such as storage-as-a-service (STaaS), security-as-a-service (SECaaS), unified communications-as-a-service (UCaaS), network-as-a-service (NaaS), database-as-a-service (DBaaS), and backup-as-a-service (BaaS).
A trend that will boost market growth is the increasing adoption of MaaS. A diverse mix of IT delivery models are available in the market, ranging from outsourcing, in-premise to public cloud services. Organizations seeking to optimize their business performance need efficient monitoring of processes in all departments. Using on premise solutions to monitor each system proves costlier, inefficient, and ultimately ineffective in the long run. In today's dynamic IT environments, a unified view of all infrastructure is necessary to truly understand and optimize performance. An enterprise can choose its system to run on the public or private clouds, remotely hosted environments, data centers, or in combination of these.
According to the report, a key growth driver is the growing need for scalable storage. Organizations across industries are undergoing major digital transformational changes. The inherent benefits of digitization, such as better decision making, improved customer relationships, efficient resource planning, innovations in products and services, and cost savings, have boosted the adoption of digital technologies. This has resulted in the exponential growth of corporate data. For instance, the healthcare industry has been generating large volumes of digital data due to rapid digitization of manual patient records fueled by legislative regulations and the need to provide better patient care at lower costs.
Further, the report states that one challenge that could restrict market growth is bandwidth and connectivity issues. The time taken to store and retrieve data could vary from seconds to hours depending on the location of the data stored and the allocated bandwidth.