#XaaS Market 2024

[businesspointnews]

Anything-as-a-Service (XaaS) Market by Service Area, Industry, Region and Forecast 2024-2032

IMARC Group, a leading market research company, has recently released a report titled “Anything-as-a-Service Market Report by Service Area (Storage-as-a-Service, Security-as-a-Service, Unified Communications-as-a-Service, Network-as-a-Service, Database-as-a-Service, Backend-as-a-Service), Industry (IT and Telecom, BFSI, Manufacturing, and Others), and Region 2024-2032”. The study provides a…

[globalfintechseries]

10 AI ML In Cloud Computing Trends To Look Out For In 2024

Brands like Google Cloud, AWS, Azure, or IBM Cloud need no introduction today. Yes, they all belong to the cloud computing domain of which we are highlighting the latest trends and insights.

What Is Cloud Computing?

Cloud computing refers to the practice of providing users with access to shared, on-demand computing resources such as servers, data storage, databases, software, and networking over a public network, most often the Internet.

With cloud computing, businesses can access and store data without worrying about their hardware or IT infrastructure. It becomes increasingly challenging for firms to run their operations on in-house computing servers due to the ever-increasing amounts of data being created and exchanged, as well as the increasing demand from customers for online services.

The concept of “the cloud” is based on the idea that any location with an internet connection may access and control a company’s resources and applications, much like checking an email inbox online. The ability to quickly scale computation and storage without incurring upfront infrastructure expenditures or adding additional systems and applications is a major benefit of cloud services, which are usually handled and maintained by a third-party provider.

New: 10 AI ML In Personal Healthcare Trends To Look Out For In 2024

Types of Cloud Computing

Platforms as a Service (PaaS)

Infrastructure as a Service (IaaS)

Software as a service (SaaS)

Everything as a service (XaaS)

Function as a Service (FaaS)

Let’s Know Some Numbers

The global cloud computing market is expected to witness a compound annual growth rate of 14.1% from 2023 to 2030 to reach USD 1,554.94 billion by 2030.

58.7% of IT spending is still traditional but cloud-based spending will soon outpace it (Source: Gartner)

Cloud adoption among enterprise organizations is over 94% (Source: RightScale)

Over half of enterprises are struggling to see cloud ROI (Source: PwC)

Over 50% of SMEs technology budget will go to cloud spend in 2023 (Source: Zesty)

54% of small and medium-sized businesses spend more than $1.2 million on the cloud (Source: RightScale)

42% of CIOs and CTOs consider cloud waste the top challenge (Source: Zesty)

Leveraging AI and ML for advanced security measures: As cyber threats evolve, becoming perpetually dangerous and complex, intelligent security measures are imperative to counter this. For example, AI-driven anomaly detection can identify unusual patterns in network behavior, thwarting potential breaches. At the same time, ML algorithms are adept at recognizing patterns, enhancing threat prediction models, and fortifying defenses against emerging risks. And with AI and ML models continuously being trained on new data, their responses and accuracy will only improve as we head into 2024. Continued improvement of cloud automation: As AI and ML become more advanced, this will, of course, enhance their capabilities, allowing for more processes to become automated and more intelligent management of resources. By providing increasingly precise insights, AI and ML can improve processes such as predictive scaling, resource provisioning, and intelligent load balancing.

Low Cost

Secure

Agility

High availability and reliability

High Scalability

Multi-Sharing

Device and Location Independence

Maintenance

Services in pay-per-use mode

High Speed

Global Scale

Productivity

Performance

Reliability

Easy Maintenance

On-Demand Service

Large Network Access

Automatic System

Read: Top 10 Benefits Of AI In The Real Estate Industry

Advantages of Cloud Computing

Provides data backup and recovery

Cost-effective due to the pay-per-use model

Provides data security

Unlimited storage without any infrastructure

Easily accessible

High flexibility and scalability

10 AI ML In Cloud Computing Trends To Look Out For In 2024

Artificial Intelligence (AI) and Machine Learning (ML) are playing a significant role in shaping the future of cloud computing.

AI-Optimized Cloud Services: Cloud providers will offer specialized AI-optimized infrastructure, making it easier for businesses to deploy and scale AI and ML workloads. The intersection of cloud computing with AI and ML is one of the most exciting areas in technology right now. Since they need a large amount of storage and processing power for data collecting and training, these technologies are economical. High data security, privacy, tailored clouds, self-automation, and self-learning are some of the major themes that will continue to flourish in this industry in the next years. A lot of cloud service providers are putting money into AI and ML, including Amazon, Google, IBM, and many more. Some examples of Amazon’s machine learning products are the AWS DeepLens camera and Google Lens.

AI for Security: AI and ML will play a critical role in enhancing cloud security by detecting and responding to threats in real-time, with features like anomaly detection and behavior analysis. No company or group wants to take chances with their data’s safety. The safety of the company’s information is paramount. It is important to reduce the likelihood of data breaches, accidental deletion, and unauthorized changes. It is possible to adopt measures to guarantee very good data security and reduce losses to a minimum. To reduce the likelihood of data breaches, encryption and authentication are essential. Backing up data, checking privacy regulations, and using data recovery methods can all help lessen the likelihood of data loss. We will conduct comprehensive security testing to identify vulnerabilities and implement fixes. Both the storage and transport of data should be done with utmost care to ensure security. Numerous security procedures and techniques for data encryption are employed by cloud service providers to safeguard the data.

Serverless AI: The integration of AI with serverless computing will enable efficient, event-driven AI and ML applications in the cloud, reducing infrastructure management overhead. Per-user backend services are provided via serverless computing. Developers don’t need to handle servers while coding. The cloud provider executes code. Instead of paying for a set server, cloud customers will pay as they go. No need to buy servers—a third party will handle the cost. This will lower infrastructure expenses and improve scalability. This trend scales automatically as needed. Serverless architecture has several benefits, including no system administration, reduced cost and responsibility, easier operation management, and improved user experience even without the Internet.

Hybrid and Multi-Cloud AI: AI will help manage and orchestrate AI workloads across hybrid and multi-cloud environments, ensuring seamless integration and resource allocation. Companies are increasingly using the strengths of each cloud provider by spreading their workload over several providers, allowing them more control over their data and resources. With multi-cloud, you may save money while reducing risks and failure points. Instead of deploying your complete application to a single cloud, multi-cloud allows you to select a specific service from many providers until you find one that suits your needs. As a result, cloud service providers will be even more motivated to include new services.

Virtual desktops will become widespread: VDI streams desktop images remotely without attaching the desktop to the client device. VDI helps remote workers be productive by deploying apps and services to distant clients without extensive installation or configuration. VDI will become more popular for non-tech use cases while WFH remains the standard in some regions. It lets companies scale workstations up or down with little cost, which is why Microsoft is developing a Cloud PC solution, an accessible VDI experience for corporate users.

AI for Data Management: AI will assist in data categorization, tagging, and data lifecycle management in the cloud, making data more accessible and usable. Storage of vast amounts of data on GPUs, which can massively parallelize computing, will be a major advance. This trend is well started and expected to expand in the future years. Data computation, storage, and consumption, as well as future business system development, are all affected by this transition. It will also require new computer architectures. As data grows, it will be dispersed among numerous data center servers running old and novel computing models. Due to its inability to process many nodes, the traditional CPU will become obsolete.

Cost Optimization in the Cloud: With the exponential growth of cloud users, cost management has emerged as a top priority for companies. Consequently, cloud service providers are putting resources into creating new services and solutions to assist their clients in cost management. Instance sizing suggestions, reserved instance options, and cost monitoring and budgeting tools are all part of cost management tools that customers may utilize to optimize expenditure.

Automated Cloud Management: AI-driven automation will streamline cloud management tasks, such as provisioning, scaling, and monitoring, reducing manual intervention. The possibility of automation is Cloud’s secret ingredient. When implemented correctly, automation may boost the productivity of your delivery team, enhance the reliability of your networks and systems, and lessen the likelihood of slowdowns or outages. Automating processes is not a picnic. More and more money is going into AI and citizen developer tools, thus there will be more devices available to make automation easier for cloud companies.

AI-powered DevOps: AI and ML will optimize DevOps processes in the cloud, automating code testing, deployment, and infrastructure provisioning. Cloud computing helps clients manage their data, but users can confront security challenges. Network intrusion, DoS assaults, virtualization difficulties, illegal data usage, etc. This can be reduced via DevSecOps.

Citizen Developer Introduction: One of the earliest developments in cloud computing is the rise of the citizen developer. With the Citizen Developer idea, even non-coders may tap into the potential of interconnected systems. If This Then That and similar tools made it possible for regular people (those of us who didn’t spend four years obtaining a degree in computer science) to link popular APIs and build individualized automation. By the end of 2024, a plethora of firms will have released tools that simplify the process of creating sophisticated programs using a drag-and-drop interface. This includes Microsoft, AWS, Google, and countless more. Among these platforms, Microsoft’s Power Platform—which includes Power Flow, Power AI, Power Builder, and Power Apps—is perhaps the most prominent. If you combine the four of them, you can create sophisticated apps for mobile and web that communicate with other technologies your company uses. Additionally, with the release of HoneyCode, AWS is showing no signs of stopping either.

Read: 4 Common Myths Related To Women In The Workplace

Conclusion

These trends represent the ongoing evolution of AI and ML in the cloud, with a focus on improving efficiency, security, and the management of cloud resources. Staying informed about these developments will be crucial for businesses to leverage the power of AI and ML in their cloud computing strategies in 2024 and beyond.

[xaltius]

2024: A Glimpse into the Tech Crystal Ball - 5 Trends to Watch

The tech world is a whirlwind of constant innovation, making it hard to predict what's next. But fret not, tech enthusiasts! Here's a peek into our crystal ball to explore five key trends poised to shape the technological landscape in 2024:

1. Generative AI: Beyond Deepfakes

While deepfakes often grab headlines, Generative AI's true potential lies far beyond creating convincing forgeries. This technology uses machine learning algorithms to generate entirely new content, from composing music in the style of your favorite artist to designing fantastical creatures for a new video game. In 2024, expect to see Generative AI revolutionize fields like:

Drug Discovery: Simulating complex molecular interactions to accelerate the development of new medications.

Product Design: Generating innovative product concepts and personalizing designs based on individual preferences.

Art and Entertainment: Witnessing a surge in AI-generated art, music, and even photorealistic landscapes.

2. The Rise of Quantum Computing

Quantum computing promises to solve problems that are currently intractable for traditional computers. In 2024, this technology may take significant strides forward, impacting areas like:

Materials Science: Simulating complex materials at the atomic level to design new drugs, superconductors, and advanced materials.

Financial Modeling: Quantum algorithms could be used to develop more sophisticated financial models and risk analysis tools.

Cryptography: The rise of quantum computing necessitates the development of new, quantum-resistant encryption methods to ensure data security.

3. The Democratization of AI with Low-Code/No-Code Tools

Traditionally, data science expertise was required to leverage the power of AI. However, the emergence of low-code/no-code AI tools is making data analysis and visualization more accessible to a wider range of users. In 2024, expect to see:

Increased Efficiency: Faster time-to-insights as businesses leverage user-friendly AI tools without needing extensive coding knowledge.

Shifting Roles for Data Scientists: With low-code/no-code tools handling routine tasks, data scientists can focus on higher-level activities like model interpretation and strategic planning.

Wider Adoption of AI: Democratization of AI tools will empower businesses of all sizes to leverage the power of AI for tasks like customer churn prediction or marketing campaign optimization.

4. The Continued Rise of the Everything-as-a-Service (XaaS) Model

The XaaS model, where everything from software to hardware is delivered as a service over the internet, has been gaining traction in recent years. In 2024, this trend is expected to continue, with:

Increased Flexibility and Scalability: Businesses can access resources and applications on-demand, scaling their IT infrastructure up or down as needed.

Reduced Costs: Eliminate the upfront costs of hardware and software with a pay-as-you-go XaaS model.

Focus on Core Business: Businesses can focus on their core competencies while leaving IT infrastructure management to service providers.

5. The Growing Focus on Explainable AI (XAI) and Responsible AI

As AI becomes more integrated into our lives, ensuring its fairness, transparency, and responsible development is crucial. In 2024, expect to see a growing emphasis on:

Explainable AI (XAI): Developing AI models that are interpretable, allowing us to understand how they arrive at their decisions.

Mitigating Bias: Addressing and mitigating potential biases present in data used to train AI models to ensure fair and ethical outcomes.

Regulations and Guidelines: The development of clear regulations and guidelines to promote responsible AI development and deployment.

These are just a few of the exciting tech trends to keep an eye on in 2024. As technology continues to evolve at a rapid pace, one thing is certain: the future promises to be a fascinating landscape of innovation and progress. What trends are you most excited about? Share your thoughts in the comments below!

[rohankadam7878-blog]

Jan 10, 2020 (The Expresswire) -- The perspective aim of the report is to provides detail information about the Global XaaS Market. This report study gives...

[ladystylestores]

Why ‘as-a-service’ models will reign in a post-pandemic world

It’s hard to think ahead when we are up to our necks in the misery and fear of a pandemic, but every CEO should be focused not just on how to survive, but how to thrive in the COVID-era. I say era because this is not a passing phase, but a new reality.

COVID is accelerating many societal and technology shifts and reversing others. The COVID-era is a technology-driven era with widespread and often forced adoption of trends like work-from-home, online retail, pickup/delivery services, entertainment-as-a-service, telemedicine (well, tele-you-name-it), and machine-learning. Embodied in this change are deep behavioral shifts that, even given a decade, might never have reached these proportions. Enabling nearly all of these shifts is an “… as-a-service (XaaS)” capability be it data, infrastructure, platform, software, or experience. XaaS was already on it’s way to becoming a juggernaut, with a market value of $93.8 billion in 2018 and projected to triple to $344.3 billion by 2024, but it’s now on a whole new COVID-triggererd upswing.

These XaaS enabled remote service paradigms are here to stay, maybe not at today’s artificially enforced levels, but to a significant degree all the same. Everyone now knows the perils of work-from-home, but they know the benefits too. As the COVID-era continues to require social distancing for some time, we can’t all go back to the cramped office. And why should we? I hate to see the airline industry in turmoil, but I can’t say that I’ve missed air travel. Now everyone knows just how easy it is to get your groceries or your food delivered, and contactless at that. I miss the big screen, but I’ll settle for great content, 65” TV, and homemade popcorn if I can share the experience with all my friends wherever they are.

But the current change is not just a digital transformation to cloud and consumerized applications, it’s also a behavioral transformation. Forward thinking businesses are seizing this unprecedented opportunity to pause the growth/execution treadmill and imagine a new value/ideation opportunity. Whole teams have been liberated from soul-destroying wash-rinse-repeat cycles and are free to think through new ideas. For better or worse, companies are also leaner and more agile, having been forced to transform their business in order to thrive.

VB Transform 2020 Online – July 15-17. Join leading AI executives: Register for the free livestream.

Adapt both your product and your experience

So, what do CEOs need to re-imagine in their business going forward as we enter a new XaaS powered world? First and foremost the COVID-era is a direct-to-consumer world where you may be literally bringing your offering right into the consumer’s home. For B2B, that means an acceleration of the consumerization of the enterprise and often means a self-serve experience with a consultative sales model. Your offering needs to be consumable over the internet. Not only do your products need to be available as-a-service, but so does your experience. Some call it experience-as-a-service. Paid or free, it’s about helping customers understand how to leverage your offering to meet their own transition. Self-serve models are the most scalable but rely heavily on great product experiences.

In the B2C world, your brand needs to align with the values of your customer and those values have changed. Given the increased and more intimate role that many XaaS businesses are taking, consumers expect brands to have societal responsibilities to ensure their products are delivered fairly and without compromise to any workers. COVID has raised awareness of inequalities and is garnering a movement toward societal fairness. Your brand is everything in a direct-to-consumer model and you need to build trust by investing in the customer experience and delivering value, often without immediate gain. It’s time to un-gate content and extend trials to relieve the pressure in your sale-cycle which is clearly now a buy-cycle with the consumer in control.

Flexibility and agility are paramount for both you and your customer to scale an offering in terms of both demand and supply as each new business waxes or wanes. Clearly, XaaS will help scale the delivery of your product or service up and down, but the economic consumption needs to be flexible too. That means flexible pricing. Annual plans may need to revert back to monthly. Prices may need to depend on consumed metrics. In an ideal world, your pricing might even be pay-for-performance in some form, sharing the risk alongside your customer.

The big picture factors shaping the COVID-economy

While there are of course many different factors at play here, these are the four that are having an immediate impact on the need to adopt XaaS and the business of XaaS itself:

Remote services: The shift to consuming products and services remotely has been dramatic and immediate. Overnight, 80% of healthcare is now delivered as telemedicine, driven by COVID, but enabled by a change in regulations that allow healthcare providers to charge for telemedicine services. All education, from pre-K to post-graduate, shifted to online, globally, practically overnight. CEOs must determine how to consume their products and services over the internet or enabled by it. The winners will be those who can maintain or even build on the social, peer-to-peer experience enjoyed in face-to-face transactions but now delivered online. Think Netflix Party, which turned every viewing experience into the social peer-to-peer interaction that people were craving.

Data science: Artificial intelligence (AI)I, machine learning (ML), and augmented reality (AR) have entered the mainstream conscience. Every day we have been subjected to models and predictions. Everyone has come to understand the critical role of data on a huge scale. The need for testing and contact tracing in the US has raised our perception of the role of AI so that we now understand its potential at a national scale in the same way they do in China. While applications will surely be opt-in, privacy is on the back burner for most, even in Germany. As CEOs innovate on new value propositions, AI, ML, and AR offer some of the most creative ways for CEOs to transform their value proposition to something more consumable over the internet. Think Kinsa digital thermometers, which opened up its aggregated data to track the spread of COVID in your area.

Globalization: With COVID, we have come to understand the perils of globalization. National security is sometimes threatened by critical parts of a supply chain being under foreign control. There is a strong desire to localize key parts of manufacturing into automated and more agile manufacturing pods at home. It may not mean more manufacturing jobs, as robotics and automation will surely play a big role in reducing human skills, but it will mean more jobs up and down the value chain while improving our security. Think Ford and GM, which responded to the urgent need for ventilators by reimagining their manufacturing processes with social distancing and robotics to minimize contact while accelerating production and getting a steal on the rest of the world for reopening their facilities.

Business models: All of this change will strain the traditional “growth at all costs” value creation model prevalent in most XaaS businesses. Enterprise value may come at a slower burn for some or breathtakingly fast for those who can seize the market. Capital requirements will change. Interest rates will likely stay low, so CEOs could shift capital raises to self-sustaining revenue-based-financing models and more forgiving debt vehicles with government support. We are seeing further democratization of capital funding from the privileged few to a more socially concerned mainstream through crowdfunding and the lifting of regulations investments below $25 million. This opens up broader participation of the public and family offices in investments that can be directed to specific areas like underserved communities to encourage the entrepreneurs who are ready to participate in the emerging COVID-era market.

COVID has forced many ill-prepared businesses and processes to digitally transform at warp speed. Some did well: Zoom went from 10 million to 200 million daily active users without a hitch. Amazon has become the essential gateway to retail and saw a 26% year-over-year increase in Q1 2020 net sales, a staggering rate of $10,000 per second. Others struggled. Old COBOL-based government systems failed to meet the seismic shift in demand and the people suffered.

Stop for a moment and try to imagine life in this pandemic without the internet. The internet is the foundation of a successful shift to a COVID-era economy. XaaS powers the internet and a great deal of the services we’re now relying on to continue functioning economically and socially. It would be nice to talk about precise forecasts, but the truth is we just don’t know how the COVID-era economy will truly manifest. We only know that it won’t be what it was.

David McFarlane is a Board Member and Instructor for the MIT Enterprise Forum Cambridge and Venture Partner of VC firm Converge Venture Partners.

Interested in writing a guest post for VentureBeat?

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[marketbytes]

The global market for Cloud-Based Storage Services is projected to reach US$117 billion by 2024, driven by the numerous benefits of cloud that can no longer be overlooked against the backdrop of the evolving era of “as-a-Service” where 'everything' is now a service (XaaS). Few of the benefits responsible for why cloud storage is today a big part of the modern enterprise include low initial CAPEX and total cost of ownership (TCO); easy and rapid deployment; agility offered by on-demand services; self-service provisioning and  ability to self-customize and configure services; pay-per-use subscription billing; resource scalability and the ensuing ability to 'scale right' as per changing requirements; enhanced data/content sharing and collaboration experience; ensures easy and cost-effective compliance to data storage regulations; enables effective business continuity and disaster recovery; unrivalled data portability and enterprise mobility benefits which are vital in this era of connected enterprises; lower infrastructure management and maintenance burden. Other major factors also influencing growth include growing adoption of a wide variety of business applications and IT solutions as SaaS based solutions and the ensuing popularity of cloud-to-cloud backup security for SaaS data; rise of SMBs as a major customer cluster for Storage-as-a-Service; increasing use of big data in the Internet of Things (IoT) era and the resulting need for cost-effective storage of mountains of big data; rise of data-intensive business environments, the focus shed on managing and treating data as a corporate asset and the ensuing expansion of spending budgets for IT storage. The United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 31.1% over the analysis period led by the development of the enterprise sector; growing cloud readiness of Asian economies;  increased reliance of emerging Asian economies on digitalization, the Internet and transformative enterprise technologies and the ensuing strict legislation of mandatory data archiving regulations; rising adoption of consumer cloud storage as the standard data storage technology among the rapidly digitalizing smartphone friendly internet population. More….

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