Anything as a Service (XaaS) uses the cloud infrastructure and is a booming market opportunity

XaaS or Anything as a Service refers to any product that is made available to users as services via the cloud. In the past, IT departments had to pre-purchase or license the software and systems companies needed to get things done. XaaS offers companies a more flexible consumption model as companies pay according to need and usage. This is usually done either through a subscription model or as a paid payment based on actual usage.

All XaaS solutions have one thing in common: They are based on cloud computing infrastructures and concepts. XaaS encompasses a rapidly growing galaxy of “as a service” options. Gartner research shows that end-user spending on public cloud services exceeded $ 332 billion in 2021. The report expects this trend to continue into 2022. Gartner predicts spending of $ 397.5 billion – nearly 20% more than last year.

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