LONDON--(BUSINESS WIRE)--According to the latest research study released by Technavio, the global anything-as-a-service market is expected to expand at a CAGR of over 38% until 2020.
This research report titled ‘Global Anything-as-a-Service (XaaS) Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. To calculate the market size, Technavio researchers have considered 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).
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“In 2015, APAC emerged as the fastest-growing XaaS market, driven by accelerated development activities in emerging markets such as China and India. These developments require efficient IT services and systems, especially in the enterprise sector. China and India have been displaying remarkable growth in the IT industry, outpacing the global average. These two countries will continue to help the region retain its leadership position in this market over the next four years,” said Amit Sharma, one of Technavio’s lead analysts for cloud computing.
Segmentation of global XaaS market by service areas 2015
- STaaS 42.23%
- SECaaS 22.06%
- UCaaS 18.34%
- NaaS 9.59%
- DBaaS 9.53%
- BaaS 7.67%
Source: Technavio research
STaaS (storage as a service) segment of the global XaaS market: largest segment
The global XaaS market by STaaS was valued at USD 5.47 billion in 2015. The global STaaS market will experience enormous growth during the forecast period. Growing enterprise data volumes and increasing on premise storage costs will prompt enterprises worldwide to focus on STaaS.
Enterprises are increasingly demanding better storage solutions to manage their data volumes. Enterprises refer to their historical data to make well informed business decisions and predict future growth patterns. Storing this historical data in an on premises IT setup is expensive. To overcome these concerns, STaaS helps companies store their data in the cloud, in an archived format. Enterprises only have to pay for the utilized storage capacity, thus making the solution highly cost-effective.
SECaaS (security as a service) segment of the global XaaS market: second largest segment
The global XaaS by SECaaS market was valued at USD 3.68 billion in 2015. SECaaS is a type of IT security deployment that makes use of cloud computing technologies. It is a security management model wherein cloud service providers offer security services along with IT infrastructure on a subscription basis. The ultimate objective of SECaaS is to protect information systems from cyber threats while preserving the availability, integrity, and confidentiality of the information. SECaaS enables organization to improve their IT security while companies concentrate on their core business objectives by outsourcing security services to managed security service provider (MSSPs). The need to manage an array of mobile devices as a result of growing enterprise mobility is expected to fuel the demand for SECaaS, especially since cyber-attacks have increased two fold in the past three years.
UCaaS (unified communication as a service) segment of the global XaaS market: third largest segment
The global XaaS market by UCaaS was valued at USD 3.06 billion in 2015. UCaaS is a business model in which a third-party provider delivers a variety of communication and collaboration applications and services to a company over an IP network.
UCaaS offers a customized software platform that supports integration of various functions, such as telephony, messaging, video conferencing, online meetings, call and multimedia, email, and directory services. It facilitates better communication among employees situated in different parts of the world and enhances employee productivity.
Browse related reports:
- Global Software-defined Anything (SDx) Market 2016-2020
- Global STaaS Market 2015-2019
- Global Data Protection as a Service (DPaaS) Market 2015-2019
- Storage as a Service Market in the US - Market Research 2015-2019
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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