Device-as-a-Service Industry Overview
The global device-as-a-service market size was valued at USD 30.75 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 37.8% from 2021 to 2028.
The promising growth prospects of the market can be attributed to the growing demand for a subscription model that can allow end-users to switch from a capital expenditure-based model to an operating expenses-based model and acquire the latest technology. The increasing adoption of cloud services in developing countries is expected to drive market growth. Furthermore, the adoption of contact-based services and solutions by small and medium enterprises is expected to favor the growth of the market. The COVID-19 pandemic had a positive impact on the market. The pandemic significantly changed the work dynamics globally, compelling businesses to prioritize the adoption of the cloud and remote working practices to curb the spread of COVID-19 infections. Furthermore, the pandemic has encouraged digital transformation activities and the adoption of several technologies, boosting the adoption of the device-as-a-service (DaaS) model.
Gather more insights about the market drivers, restrains and growth of the Global Device-as-a-Service Market
DaaS enables timely upgrade and maintenance of software and hardware, allowing companies to reduce the IT burden; moreover, the model helps avoid technological obsolescence, ultimately enhancing productivity. Flexible structuring of device-as-a-service offers businesses to scale up/scale down device count and attached services. These factors are expected to drive the market over the forecast period.
Furthermore, the rapid adoption of the subscription model, higher policy compliance, increased user productivity, reduction in help desk spending, and the growing need for cost-efficient and secured devices have accelerated the market growth. The boost in the startup ecosystem is expected to drive the demand for the DaaS model. However, the lack of technical expertise and adoption of CYOD policies could hamper the growth of the market.
The device-as-a-service model is gaining popularity among large as well as small and medium enterprises as it allows them to lease hardware such as laptops, desktops, smartphones, and tablets with preconfigured software or services. The increased adoption of IoT is also expected to drive the demand for the model. Technological advancements, increasing penetration of high-speed networks, and growing advancements in web services are other factors expected to drive the growth of the Device-as-a-Service market.
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Device-as-a-Service Market Segmentation
Grand View Research has segmented the global device-as-a-service market based on offering, device type, organization, industry vertical, and region:
Device-as-a-Service Offering Outlook (Revenue, USD Billion, 2018 - 2028)
- Hardware
- Software
- Service
Device-as-a-Service Device Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Desktop
- Laptop, Notebook, and Tablet
- Smartphone and Peripheral
Device-as-a-Service Organization Outlook (Revenue, USD Billion, 2018 - 2028)
- Small and Medium Enterprise
- Large Enterprise
Device-as-a-Service Industry Vertical Outlook (Revenue, USD Billion, 2018 - 2028)
- Banking, Financial Services and Insurance (BFSI)
- Educational Institution
- Healthcare and Life Science
- IT Telecommunication
- Public Sector and Government Office
- Others
Device-as-a-Service Regional Outlook (Revenue, USD Billion, 2018 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
Key Companies profiled:
Some of the prominent players operating in the global device-as-a-service market are:
- Accenture
- Acer Inc.
- Apple Inc.
- Cisco
- Cognizant
- Computacenter
- Dell Technologies
- Intel Corporation
- Hewlett Packard
- Lenovo
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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