Everything-as-a-Service Market Size

Everything-as-a-Service (XaaS) Market size was valued at USD 226.16 billion in 2023 and is projected to exceed USD 3.06 trillion by 2036, registering over 22.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of everything-as-a-service is evaluated at USD 266.33 billion. The growth of the everything-as-a-service (XaaS) market can primarily be attributed to the increasing amount of data generated worldwide. It was estimated that approximately 2.5 quintillion bytes of data is produced every day, in 2018.

In the world of digitization with the advancements in the field of cloud computing, artificial intelligence (AI), Internet of Things (IoT), almost everything is available “as a service.” A business model where the user can access products, tools, technologies and services delivered to users as a service over the internet, can be categorized as XaaS business model. Everything-as-a-service (XaaS) market out services that are related to cloud computing and remote access. The model caters to various industries such as in the software industry, XaaS examples include software-as-a-service (SaaS), platform-as-a-service (Paas), and infrastructure-as-a-service (IaaS), but is not limited to only the tech space. It was observed that, with an increase of more than 17% from 2021, approximately USD 1.8 trillion is forecasted to be spend on the digital transformation (DX) of business practices, products, and organizations in 2022.