Device-as-a-Service Market

Market Overview:

The global device-as-a-service market size reached US$ 95.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 958.4 Billion by 2032, exhibiting a growth rate (CAGR) of 29.23% during 2024-2032. The increasing demand for remote work access, growth of cloud computing, and rise of bring-your-own-device (BYOD) policies represent some of the factors driving the market.

Device-as-a-service (DaaS) refers to a subscription-based model that allows businesses to rent or lease devices such as laptops, desktops, tablets, and smartphones, along with software and support services. This approach eliminates the need for businesses to purchase and manage their own devices and infrastructure, which can be costly and time-consuming. Under a DaaS model, businesses can select the devices they need and pay a monthly fee based on the number of devices and the duration of the agreement. The service provider is responsible for maintaining the devices, including software updates, security patches, and repairs. This allows businesses to focus on their core operations while still having access to the latest technology and support services. One of the key benefits of DaaS is flexibility, businesses can easily add or remove devices based on their changing needs, without focusing on the cost of buying or disposing of hardware. In recent years, DaaS has gained traction as it helps businesses reduce their environmental impact by promoting the reuse and recycling of devices.

Device-as-a-Service Market Trends:

One of the primary factors driving the market is the increasing demand for remote access to virtualized desktops and applications. With more businesses adopting remote work models, DaaS has become a popular solution for providing employees with access to virtual desktops and applications from any location. Additionally, DaaS solutions offer businesses the ability to quickly scale up or down their IT infrastructure based on their needs, without the need for large upfront investments in hardware and software, which is influencing the market growth. Other than this, DaaS provides businesses with improved security and compliance by enabling them to implement advanced security measures to protect data and applications from unauthorized access and breaches, making it an attractive option for businesses to handle sensitive data. Besides this, the exponential growth of cloud computing is also escalating the demand for DaaS. As more businesses move their IT infrastructure to the cloud, DaaS solutions are becoming an integral part of their cloud strategy. DaaS offers businesses the ability to leverage the benefits of cloud computing while also providing a familiar desktop experience to end-users. In line with this, the rising trend bring-your-own-device (BYOD) policies in the workplace is another major growth-inducing factor.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global device-as-a-service market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on offering, enterprise size, and end use.

Offering Insights:

• Hardware
• Software
• Service
   

The report has provided a detailed breakup and analysis of the device-as-a-service market based on the offering. This includes hardware, software, and service. According to the report, hardware represented the largest segment.

Enterprise Size Insights:

• Small and Medium-sized Enterprises
• Large Enterprise
   

A detailed breakup and analysis of the global device-as-a-service market based on the enterprise size has also been provided in the report. This includes small and medium-sized enterprises and large enterprise.

End Use Insights:

• Banking, Financial Services and Insurance (BFSI)
• Educational Institutions
• Healthcare and Life Sciences
• IT and Telecom
• Public Sector and Government Offices
• Others
   

The report has provided a detailed breakup and analysis of the device-as-a-service market based on the end use. This includes banking, financial services and insurance (BFSI), educational institutions, healthcare and life sciences, IT and telecom, public sector and government offices, and others. According to the report, IT and telecom represented the largest segment.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for device-as-a-service. Some of the factors driving the North America device-as-a-service market included increasing demand for remote work, growing adoption of cloud computing, and improved security and compliance.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global device-as-a-service market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Accenture Plc, Atea Global Services Ltd. (Atea Group), Cognizant Microsoft Business Group, HP Development Company L.P., Intel Corporation, Lenovo Group Limited, Yorktel, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global device-as-a-service market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global device-as-a-service market?
• What is the impact of each driver, restraint, and opportunity on the global device-as-a-service market?
• What are the key regional markets?
• Which countries represent the most attractive device-as a-service market?
• What is the breakup of the market based on the offering?
• Which is the most attractive offering in the device-as-a-service market?
• What is the breakup of the market based on the enterprise size?
• Which is the most attractive enterprise size in the device-as-a-service market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the device-as-a-service market?
• What is the competitive structure of the global device-as-a-service market?
• Who are the key players/companies in the global device-as-a-service market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the device-as-a-service market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global device-as-a-service market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the device-as-a-service industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.