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Anything-as-a-Service: the rise of the on-demand economy

September 27, 2022
2
min read
Anything-as-a-Service: the rise of the on-demand economy
The convergence of 5G, cutting-edge computing, artificial intelligence (AI), automation, and machine learning opened doors to new business models where as-a-service is paving the way to a fascinating digital transformation.

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The as-a-service delivery model – or XaaS – is reshaping the business landscape as we know it along with an immense cluster of opportunities provided by cloud computing and high-bandwidth global internet access. It brings business challenges such as, of course, the network or internet provider’s reliability, visibility, and control over the service provider, and user’s data security. However, with the increasing concern on security and compliance on the major service provider’s end, it is estimated that more organisations adopt XaaS as their reality.

Usership over Ownership  

The boom of digital services became easily, over the past few years, part of most consumer’s DNA. These services enabled such an organic usage and experience that many users do not think twice when subscribing to a music app or a content streaming service.

Personalised pay-per-use subscriptions or products with a lower upfront cost are part of a new reality where the product or service is overlaid by the experience it brings, its usership.

Usership over ownership is the mindset that emerges from this new paradigm. “Software as a Service” (SaaS), “Platform as a Service” (PaaS), and “Infrastructure as a Service” (IaaS) or “Analytics as a Service” (AaaS) are just some of the businesses that bring a new “value over price” concept to any digital journey.

A deep dive into the As-a-service Economy

As a result of the impact of this growing trend, businesses are switching their mindset, technology, and services to match customer demand and rising competition. To create compelling value for consumers and businesses, it is crucial for each and every product to be regarded as a service – an experience to be consumed with flexibility and on-demand attributes. Consumers expect flexible pricing and a certain level of self-service and quality that XaaS will provide over time.

Technology also plays a major role in this new booming economy. IoT (Internet of Things), cutting-edge computing, AI, and 5G bring new possibilities that point to subscription-based models, an agile mindset, and an enhancement of digital channels and platforms that offer management and a service lifecycle that enhances customer’s experience to acquire the next best service/experience that matches their constantly changing needs.  

Anything, anywhere, anytime…

The future is global and so is the experience of any service. How invaluable is sharing the emotional roller coaster of watching a concert of our favourite artist from anywhere? Or the ability to pay as-you-go for a new device or app that will allow us to commit to our dream of a healthier lifestyle until we build those habits ourselves? The future is value driven.

Watch the video below and learn more about this trend and how it is elevating businesses and users to a new realm of digital experiences and customer-based services.

Curious about other trends? Read our most recent blog post and learn more about low-code and how this trend is equally reshaping businesses and software delivery around the globe.

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