Everything as a Service Global Market Report 2024

The global everything as a service market has grown exponentially in recent years. It will grow from $535.77 billion in 2023 to $652.74 billion in 2024 at a compound annual growth rate (CAGR) of 21.8%. Historical growth can be attributed to cost efficiency measures, scalability options, enhanced remote accessibility, emphasis on core competencies, rapid deployment capabilities, and reductions in time to market.

The global everything as a service market is expected to see exponential growth in the next few years. It will grow to $1362.31 billion in 2028 at a compound annual growth rate (CAGR) of 20.2%. The anticipated growth in the forecast period is driven by various factors such as prioritizing data security and compliance, implementing robust cybersecurity measures, a growing emphasis on sustainability and green computing, ensuring disaster recovery and business continuity plans, and managing regulatory compliance effectively. Major trends expected during this period involve the expansion of Everything-as-a-Service (XaaS) offerings, the rise of edge computing services, the adoption of subscription-based models, a continued focus on sustainability initiatives, the growth of managed services, the development of industry-specific XaaS solutions, and fostering collaboration and interoperability within the industry.

The rising preference for subscription-based models is poised to drive the growth of the everything-as-a-service market. Subscriptions enable organizations to access services as needed, reducing operational expenses and enabling efficient usage monitoring. For instance, in 2021, internet video service subscribers globally surged by 14%, amounting to 1.3 billion, marking a $17.9 billion growth that surpassed satellite TV revenue. Similarly, the United States witnessed a 14% rise, reaching 353.2 million online video subscriptions in the same year.

Globalization's progression is anticipated to fuel the everything-as-a-service market. Globalization involves extensive cross-border exchanges, fostering interconnections among nations, economies, and cultures. Everything as a Service (XaaS) empowers businesses by offering accessible, flexible services across borders. For example, global trade surged to $28.5 trillion in 2021, marking a 25% increase from 2020 and a 13% rise from 2019, underscoring the significant role of globalization in driving XaaS market growth.

Embracing AI and IoT services is a prevailing trend in the everything-as-a-service market. IoT services facilitate end-to-end solutions for designing, deploying, and running IoT systems. Similarly, artificial intelligence as a service (AIaaS) allows cost-effective access to AI technologies. For instance, Google introduced Vertex AI cloud services in May 2021, offering managed AI solutions to expedite AI model implementation and maintenance, unifying various Google Cloud services under a single interface.

Major market players are launching innovative products and solutions to maintain their market standing in the everything-as-a-service domain. These products, transforming conventional services into scalable digital experiences, cater to diverse industries. For example, in September, Lenovo introduced TruScale, an encompassing everything-as-a-service offering. It integrates cutting-edge technology, lifecycle services, and flexible financing, ensuring lower ownership costs for businesses while providing on-premise cloud advantages in data management.

In March 2022, Calian Group Ltd., a prominent Canadian provider of business services and solutions, successfully acquired Computex Technology Solutions for $30 million. This strategic acquisition grants Calian a significant entry into the comprehensive everything-as-a-service (XaaS) market within the US. Moreover, it significantly enhances Calian's portfolio in IT and cybersecurity offerings across Canadian and international markets. Computex Technology Solutions, based in the US, specializes in delivering managed services, cloud computing, enterprise networking, cybersecurity, and creative solutions. With this acquisition, Calian amplifies its capabilities, gaining access to a broader spectrum of innovative solutions and expertise in cutting-edge technologies, thus fortifying its position as a comprehensive provider of business services in the IT and cybersecurity domains on a global scale.

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., and Twilio Inc.

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. The countries covered in the everything as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Within the domain of XaaS, the primary categories are solutions and services. Solutions are tailored offerings utilizing customized products to address specific or common challenges unique to each client. Enterprises engaging in XaaS span across small and medium-sized businesses as well as large corporations. The diverse end-users of XaaS include sectors such as BFSI (Banking, Financial Services, and Insurance), IT and telecommunications, government agencies, media and entertainment, healthcare, manufacturing, oil and gas, metals and mining, alongside other industries.

This report provides everything as a service market statistic, including everything as a service industry global market size, regional shares, competitors with everything as a service market share, detailed everything as a service market segments, market trends, and opportunities, and any further data you may need to thrive in the everything as a service industry. This everything as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The everything as a service market includes revenues earned by entities by providing services such as Hardware-as-a-Service (HaaS), Security-as-a-Service (SECaaS), Healthcare-as-a-Service (HaaS), Transportation-as-a-Service (TaaS). The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.