Device as a Service Market is Estimated To Grow At A Steady CAGR Of 25.8%

According to Zion Market Research, the global Device as a Service Market was worth USD 32.97 Billion in 2023. The market is forecast to reach USD 327.32 Billion by 2032, growing at a compound annual growth rate (CAGR) of 25.8% during the forecast period 2024-2032.

The device as a service (DaaS) market is an emerging segment within the technology and IT services industry offering a subscription-based model for providing hardware devices and associated services to businesses. This model allows organizations to lease or rent devices, such as laptops, desktops, tablets, and smartphones, instead of purchasing them outright.

Browse the full “Device as a Service Market By Service (Professional Services and Managed Services), By Industry Vertical (IT & Telecom, Healthcare, Education, Manufacturing, BFSI, Government, and Retail), and by Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2024 - 2032” Report at https://www.zionmarketresearch.com/report/device-as-a-service-market

Outsourcing DaaS providers help companies cut costs, simplify IT, and access the latest technology without managing devices. This is ideal for businesses with changing workforce sizes or those seeking better efficiency.

Market Growth Factors

Several key factors drive the growth of the device as a service market.

• Shift towards subscription models: Businesses prefer subscriptions over ownership, shifting capital expenditures (CapEx) to operational expenditures (OpEx), thus enhancing financial flexibility.
• Rising demand for remote work solutions: The surge in remote work drives the need for scalable solutions to provide employees with necessary devices and support.
• Technological advancements: Innovations in device management software and cloud computing have helped DaaS providers meet diverse business needs.

Restraints

• Security concerns: As organizations rely on external providers for device management, concerns about data security and privacy may hinder the adoption of DaaS.
• Integration challenges: Compatibility issues with the existing IT infrastructure can complicate the implementation of the device as a service solution.

Device as a Service Market: Report Scope

Market Segmentation

The device as a service market can be segmented based on device type, Service, Industry Vertical, and region.

According to device type, the market is segmented into laptops, desktops, tablets, smartphones, and peripherals. Laptops are expected to lead during the forecast period because of their widespread use in various business environments.

On the basis of Service, the device as a service industry is classified into large enterprises, small and medium-sized enterprises (SMEs), and government and public sectors. Large enterprises lead the DaaS market share due to their high IT infrastructure needs, significant budgets, and demand for streamlined device-management solutions.

On the basis of the Industry Vertical, the market is divided into IT and telecommunications, healthcare, education, finance and banking, and government. The IT sector is expected to lead due to its high demand for reliable and secure devices.

North America is expected to lead the global device as a service market due to its advanced technological infrastructure and high adoption rates of subscription-based models among businesses. The United States is at the forefront of this trend, driven by a large number of technology-savvy companies seeking flexible solutions to manage their IT resources efficiently. Factors contributing to this dominance include significant investments in digital transformation initiatives and a growing emphasis on operational efficiency across industries. Additionally, major technology firms in North America actively promote DaaS offerings as part of their service portfolios, further driving market growth. The region's strong focus on innovation and early adoption of emerging technologies positions it as a leader in the global DaaS landscape.

Key Market Players

Prominent companies operating in the device as a service market are:

• Plantronics
• Capgemini SE
• Swisscom
• Oracle Corporation
• CompuCom Systems Inc.
• Dell
• Hewlett-Packard
• Amazon
• Computers Now
• Citrix Systems
• Motorola Solutions
• Lenovo Group Ltd.
• VMware
• Microsoft Corporation
• Polycom
• Accenture PLC
• SYNNEX Corporation

Recent Developments

• In January 2024, Dell announced enhancements to its Device as a Service portfolio by integrating advanced analytics capabilities for improved device management.
• In March 2024, Microsoft unveiled new features for its Windows 365 service that allow businesses to easily manage devices through a subscription model.
• In May 2024, Cisco revealed new security features for its DaaS offerings aimed at addressing growing concerns over data protection in outsourced environments.

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