Is your enterprise capitalizing on this year’s biggest trends? Evaluate your competitive edge with the 2022 Virtusa Trend Almanac. View report
How does your organization's cloud-based technology stack up? Take the Future Fitness Assessment: Cloud Adoption to find out.
Anything as a Service (XaaS) encompasses a wide array of cloud computing and remote access services that managed service providers offer to businesses at a monthly subscription.
Unlike on-site software, XaaS leverages cloud computing to give companies more flexibility to run on servers. As a result, organizations can shift capital and operational expenditures using this model while ensuring optimal system performance at the same time. As the global XaaS market is growing at a compound annual growth rate of around 26%, experts predict that XaaS will stay relevant until 2025.
Using cloud technology, XaaS empowers organizations to harness the power of multi-tenant solutions, resource pooling, and rapid elasticity. Unlike on-prem solutions, XaaS is not only a cost-effective model for companies but also frees them from worrying about any back-end support. It also eliminates the company’s dependency on creating data warehouses or purchasing servers. In today’s fast-moving economy, nimble start-ups and even established enterprises no longer spend excessive money on infrastructure to develop products and worry about acquiring talent. Instead, they use XaaS solutions to integrate these services into their operations without hassle.
XaaS providers often offer technical assistance to businesses as an extension of their team. Businesses thus can unitize XaaS providers’ knowledge to pivot the organization forward by leveraging it as a resource. XaaS also enables enterprises to easily expand or reduce their operations by customizing their selected plan. Unlike on-prem, now scaling a project does not need month-long roadmaps. Instead, with XaaS, it’s a matter of a few minutes.
Being highly simple, adaptable, and scalable, XaaS easily incorporates changing needs. The following are some of the most popular types of XaaS offerings:
All major names in the IT world collaborate with XaaS companies to deliver cloud services to millions of customers worldwide. With online platforms available for users to log in, XaaS allows users to experience an easy-to-use workspace. A typical XaaS platform runs on on-premises servers, a cloud provider, or a web-based network. XaaS offers greater price flexibility, leaner structures, and relevant support to its customers. Some of the key business benefits that enterprises derive from XaaS are: