Everything as a Service Market is Projected to Grow at a CAGR of 24.58% from 2022-2027

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Everything as a Service Market, The Global Everything as a Service Market is projected to grow at a CAGR of around 24.58% during the forecast period, i.e., 2022-27. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Everything as a Service Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

Forecast Period: 2022-2027
CAGR (2022-2027): 24.58%

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Global Everything as a Service Market Segmentation Breakdown:

The Everything as a Service Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

By Type of Service
- Communication as a Service (CaaS)
- Device as a Service (DaaS)
- Security as a Service (SECaaS)
- Technology as a Service (TaaS)
- Containers as a Service (CaaS)
- Mobility as a Service (MaaS)
- Security as a Service (SECaaS)
- Software as a Service (SaaS)
- Infrastructure as a Service (IaaS)
- Database as a Service (DbaaS)
- Network as a Service (NaaS)
- Unified Communication as a Service (UCaaS)
- Storage as a Service (STaaS)
- Platform as a service (PaaS)
- Disaster Recover as a Service (DRaaS)

Of them all, Communication as a Service platform gained a noticeable growth in the Global Everything-as-a-Service market during 2017-21.

By End Users
- Healthcare
- Education
- Agriculture
- Automotive
- Aerospace & Defense
- Banking & Financial Services
- Retail & Ecommerce
- Transport & Logistics
- IT & Telecom
- Government
- Energy & Utilities
By Size of Enterprises
- Small & Medium Enterprises (Headcount upto 1,000)
- Large Enterprises (Headcount Above 1,000)

Here, Large Enterprises held a significant share in the Everything-as-a-Service market during 2017-21.

Geographical Growth Insights:

By Region

North America
South America
Europe
Middle East & Africa
Asia-Pacific

Of all the regions globally, North America has been portraying a noticeable market growth in the historical years.

MarkNtel Advisors Highlights Key Market Drivers for Everything as a Service Market:

Increasing adoption of Cloud-based storage Services in Enterprises to Drive the Market Growth

The limited availability of on-premise data storage negatively affects the productivity of an organization & often restricts the tasks of maintaining the data infrastructure rather than focusing on innovations. This has led to the adoption of cloud-based solutions among the enterprises, owing to the advantages such as reduction in infrastructure cost, ease of deployment, enhancement of workforce efficiency, and supportive maintenance.

Moreover, the growing penetration of e-commerce industries across the world & the rising integration of AI to effectively respond to customer queries & provide customized offerings to the users have derived the demand for cloud-based storage services to determine & process data for improved customer satisfaction. This is anticipated to drive the growth of the Everything-as-a-Service market.

A Comprehensive Analysis of Leading Companies in Global Everything as a Service Market

Google LLC
Amazon Web Services, Inc
Microsoft Corporation
Cisco Systems, Inc.
AT&T Inc.
Telefonaktiebolaget LM Ericsson
International Business Machines Corporation
Intel Corporation
Oracle Corporation
Salesforce, Inc
MongoDB Inc.
META Platforms, Inc
HP Inc
Tata Consultancy Services
Cognizant Technology Solutions Corporation
Avaya Inc.
Big Switch Networks
Commvault Systems, Inc.
Others

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Recent Development by the Leading Companies:

In 2022, Larsen & Turbo (L&T), along with Microsoft Corporation announced the signing of a Memorandum of Understanding (MoU) to develop a regulated sector-focused cloud offering to empower the customers with efficient cloud computing & infrastructure services.
In 2021, Oracle Corporation, announced a partnership with Kalture, Inc. to leverage Oracle Cloud Infrastructure with an aim to make Kultra’s video capabilities such as visual marketing, live streaming, and real-time conferencing.

Global Everything as a Service Market Possible Restraint:

Rising Concerns for Data Security to Pose a Challenge for the Market Growth

The rising inclination of the organizations toward cloud data storage, owing to the benefits such as improved transparency, flexibility, & enhanced storage, etc., has increased the deployment of connected devices & digitalized services within the organizations. However, this increased global concerns regarding data theft, owing to the growing online malicious activities has proven to hamper the growth of Everything-as-a-Service Market. The targets of these theft include sensitive data or personal information of employees & employers, such as health information, identifiable information, and business secrets, among others. As per 2020, Trustwave Global Security Report, the amount of cyberattacks on cloud-based services has more than doubled in 2019 in comparison to 2018. Additionally, Amazon Web Services (AWS) recorded a notable increase in data breaches that disrupted business activities throughout the US. This is anticipated to create a growth hindrance to the Global Everything-as-a-Service market due to a lower reliance of enterprises on cloud-based service.

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