Overview and Scope
Device as a Service refers to a subscription-based service that provides businesses with a full slate of end-user devices and managed IT support bundled in the same package. Businesses can avoid the upfront costs of purchasing and collecting devices by using device as a service and instead focus on their core business activities.
Sizing and Forecast
The device-as-a-service market size has grown exponentially in recent years. It will grow from $117.34 billion in 2023 to $155.43 billion in 2024 at a compound annual growth rate (CAGR) of 32.5%. The growth in the historic period can be attributed to enterprise digital transformation, cost-efficiency and predictable expenses, focus on core competencies, flexible work environments, end-of-life device management.
The device-as-a-service market size is expected to see exponential growth in the next few years. It will grow to $480.3 billion in 2028 at a compound annual growth rate (CAGR) of 32.6%. The growth in the forecast period can be attributed to focus on sustainability, increased it budget constraints, data security and privacy regulations, evolving business models, edge computing expansion. Major trends in the forecast period include subscription-based models, end-to-end device management, customization and scalability, data analytics and insights, collaborations and partnerships, remote monitoring and maintenance.
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Segmentation & Regional Insights
The device-as-a-service market covered in this report is segmented –
1) By Device Type: Desktops, Laptops, Notebooks, Tablets, Smartphones And Peripherals
2) By Offering: Hardware, Software, Service
3) By Enterprise Size: Small And Medium Enterprise, Large Enterprise
4) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Educational Institutions, Healthcare And Life Sciences, IT And Telecommunication, Public Sector And Government Offices, Other Industry Verticals
North America was the largest region in the device-as-a-service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the device-as-a-service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising adoption of the subscription-based service model is expected to propel the growth of the device-as-a-service market. A subscription-based service model is a business model in which customers pay a recurring fee or subscription price to access and utilize a service over a specific period of time. Device-as-a-service is a commonly used subscription-based service model that provides businesses with a comprehensive solution for accessing and managing their device infrastructure. Customers pay a recurring fee to access and utilize a range of devices a service provider offers. It is used for cost efficiency, scalability, simplified device management, and regular payments. For instance, in July 2022, according to reports shared by eLabs Inc., a Canada-based software company, 53% of all software income was generated from subscription models by 2022, and subscription services were used by 78% of individual industries worldwide. Further, the subscription economy will reach $1.3 trillion in the upcoming decade. Therefore, the rising adoption of subscription-based service models is driving the growth of the device-as-a-service market.
Key Industry Players
Major companies operating in the device-as-a-service market report are Apple Inc., Acer Inc., Samsung, Microsoft Corporation, Dell Inc., Lenovo Group Limited, Intel Corporation, SYNNEX Corporation, Accenture plc, Cisco Systems Inc., Hewlett Packard Development Company L.P., Capgemini, Cognizant, DXC Technology, Vmware Inc., Swisscom AG, Telia Company AB, Computacenter plc., Atea Global Services Ltd., Citrix Systems Inc., CompuCom Systems Inc., Yorktel, EMPIST, Portsmouth Computer Group, Sunstate Technology Group, Trust Technology Solutions, Insight Enterprises Inc.
The device-as-a-service market report table of contents includes:
1. Executive Summary
2. Device-As-A-Service Market Characteristics
3. Device-As-A-Service Market Trends And Strategies
4. Device-As-A-Service Market – Macro Economic Scenario
5. Global Device-As-A-Service Market Size and Growth
..
32. Global Device-As-A-Service Market Competitive Benchmarking
33. Global Device-As-A-Service Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Device-As-A-Service Market
35. Device-As-A-Service Market Future Outlook and Potential Analysis
36. Appendix
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