The Device-As-A-Service Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Device-As-A-Service Global Market Report 2024, 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.
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.
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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
Advanced technologies are key trends gaining popularity in the device-as-a-service market. Major companies operating in the device-as-a-service market are developing innovative technologies to sustain their position in the market. For instance, in January 2023, Social Mobile, a US-based enterprise mobility solution provider, launched Social Mobile ONE, a new device-as-a-service (DaaS) offering. This innovative technology is designed to help businesses of all sizes get the devices they need without worrying about upfront costs or ongoing maintenance. Additionally, it includes enterprise-grade hardware, device management software, managed mobility services, and cellular connectivity. Moreover, it is a cost-effective and easy-to-manage solution for businesses of all sizes. By using this technology, companies can avoid the high upfront costs of buying and managing mobile devices. They can also benefit from social mobile’s expertise in mobile security and management.
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 analysis
5.Device-As-A-Service Market Size And Growth
6. Device-As-A-Service Segmentation
7. Device-As-A-Service Regional And Country Analysis
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27.Device-As-A-Service.Competitive Landscape And Company Profiles
28. Device-As-A-Service Key Mergers And Acquisitions
29. Device-As-A-ServicevFuture Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Apple Inc.
- Acer Inc.,
- Samsung
- Microsoft Corporation
- Dell Inc.
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