Global Device As A Service Market Report
Global Device As A Service Market by Offering (Hardware, Software, and Service), Device Type (Desktop, Laptop, Notebook & Tablet, and Smartphone & Peripheral), Enterprise Size (Small & Medium Enterprise and Large Enterprise), End-use Industry (Banking, Financial Services & Insurance (BFSI), Educational Institutions, Healthcare & Life Sciences, Public Sector & Government Offices, IT & Telecom, and Others ), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Device As a Service Overview
Device as a Service (DaaS) is a business concept that provides businesses with a complete, subscription-based answer to their hardware and device requirements. Organisations can subscribe to leasing or renting gadgets and related services rather than buying them altogether. Businesses benefit from a hassle-free experience thanks to DaaS providers who take care of device procurement, deployment, management, support, and end-of-life services. Organisations can avoid the up-front expenditures of device purchases with DaaS. DaaS providers handle device procurement, procuring the required hardware and devices in accordance with the needs of the organisation.
Global Device as a Service Market Analysis
The global Device as a Service market size was $84.5 million in 2022 and is predicted to grow at a CAGR of 29.3%, by generating a revenue of $1,104.2 million by 2032.
COVID-19 Impact on Global Device as a Service Market
Because remote work was so widely used during the epidemic, businesses had to act swiftly to provide their staff with the tools they needed to work from home. By providing flexible device leasing and management options, DaaS providers played a crucial part in satisfying this need. The demand for DaaS during the pandemic was driven by the need to quickly provision and remotely manage equipment.
In the post-pandemic age, organisations will continue to place a high priority on operational effectiveness and cost optimisation. DaaS provides a predictable pricing structure that enables companies to match their device expenses to their spending requirements. Organisations can streamline their processes, free up IT resources, and lessen the administrative load associated with device acquisition and maintenance by outsourcing device management and support to DaaS providers.
Cost Savings and Predictable Expenses to Drive the Market Growth
Device as a Service (DaaS) offers businesses an affordable substitute for outright equipment purchases. Businesses might choose a subscription-based strategy with known monthly costs instead of making significant upfront investments. DaaS frees businesses from the requirement for capital investments, lowers maintenance expenses, and offers cost certainty, letting them to better manage their budgets. DaaS gives businesses the freedom to scale their device fleet in accordance with their shifting requirements. DaaS providers can adapt to changes fast and effectively, whether an organisation wants to add or remove devices, modify configurations, or replace hardware.
Connectivity and Network Reliability to Restrain Market Growth
To guarantee seamless device administration, upgrades, and support, DaaS significantly relies on dependable network connectivity. The efficacy of DaaS may be jeopardised in places or regions with spotty network infrastructure or limited internet access. To effectively profit from DaaS, organisations must have a solid network infrastructure in place. Organisations that use DaaS become reliant on the provisioning, management, and support of their selected DaaS providers. The productivity of the organisation and the functionality of the devices may be affected if the DaaS provider encounters operational disruptions or fails to meet service level agreements.
Expansion of Managed Services to Drive Excellent Opportunities
It's likely that the transition from traditional hardware purchases to subscription-based business models like DaaS will continue. Businesses increasingly value DaaS's flexibility, scalability, and cost certainty. The market for DaaS is anticipated to grow as more companies come to understand the advantages of subscription-based business models. The opportunity for additional managed services beyond device provisioning and maintenance exists for DaaS providers.
Global Device as a Service Market Share, by Offering, 2022
The service sub-segment accounted for the highest share in 2022. Device provisioning and deployment services are simplified by DaaS providers. This entails finding and setting up equipment in accordance with the particular needs of the organisation to make sure they are prepared for usage right away. Organisations adopt DaaS for effective device deployment due to the ease and speed of device provisioning. DaaS companies take on the duty of managing and supporting devices, offering ongoing upkeep, upgrades, and troubleshooting.
Global Device as a Service Market Share, by Device Type, 2022
The desktop sector accounted for the highest market size in 2022. DaaS providers take care of desktop device provisioning and configuration, making sure they are prepared for usage right away. This entails locating, putting together, and setting up the appropriate hardware parts, such as peripherals, memory, storage, and processors. DaaS makes desktop deployment easier for businesses by offering pre-configured machines. Desktop device operating system and software installations are managed by DaaS providers.
Global Device as a Service Market Share, by Enterprise Size, 2022
The large enterprise sector accounted for the highest market size in 2022. Large businesses prioritise cost optimisation and efficient budget management. DaaS provides a predictable monthly subscription-based strategy, enabling businesses to avoid significant up-front capital investments and match device costs to their spending requirements. The capacity to estimate costs helps with better financial management and planning.
Global Device as a Service Market Share, by End-use Industry, 2022
The IT & telecom sector accounted for the highest market share in 2022. The DaaS model has gained popularity in the IT and telecom industries for several reasons. For instance, several organizations can easily scale their device deployment up or down based on their needs. This is particularly beneficial for businesses with fluctuating workforce sizes or those experiencing rapid growth or downsizing. In addition, the DaaS providers offer additional services which include device setup along with the maintenance and monitoring of different devices. This is extremely useful for the IT team as it helps to offload the burden of managing devices within an organization.
Global Device as a Service Market Share, by Region, 2022
North America device as a service market accounted for the highest market share in 2022. One of the biggest and most developed markets for DaaS is North America. The region is home to numerous technological firms, businesses, and service providers that promote the use of DaaS solutions. The industry has grown significantly over the years as a result of numerous organisations from various industries choosing DaaS to simplify their device support and maintenance processes.
Competitive Scenario in the Global Device as a Service Market
Product development and geographic expansion are the major strategies adopted by the companies operating in the highly competitive global device as a service market. For instance, Accenture PLC introduced its Sovereign Cloud Practise in April 2022 to help businesses profit from innovative new cloud technologies by utilising reliable frameworks, services, and controls. In response to new, evolving industry norms and regulations in certain countries or sectors, organisations can use a strategy called "sovereign cloud" to govern the location of their data, who has access to it, and how it is processed in a cloud environment.
Some of the leading device as a service market players are Accenture PLC, Acer Inc., Atea Global Services Ltd., Apple Inc., Cisco Systems, Inc., Dell Technologies Inc., Cognizant, CompuCom Systems, Inc., Intel Corporation, and Computacenter plc.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, and LAMEA
Segmentation by Offering
Segmentation by Device Type
Segmentation by Enterprise Size
Segmentation by End-use Industry
Key Companies Profiled
Q1. What is the size of the device as a service market?
A. The size of the device as a service market was over $84.5 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 29.3% during the forecast period.
Q2. Which are the major companies in the device as a service market?
A. Accenture PLC and Apple Inc. are some of the key players in the global device as a service market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The North America region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Product development and geographic expansion are the two key strategies opted by the operating companies in this market.
Q5. Which companies are investing more in R&D practices?
A. Accenture PLC and Apple Inc. are the companies investing more in R&D activities for developing new products and technologies.