The device-as-a-service market is expected to grow from USD 50.3 billion in 2021 to USD 303.6 billion by 2026; it is expected to grow at a CAGR of 43.2%

during the forecast period. The device-as-a-service market has been witnessing significant growth over the past years, mainly owing to the rising demand for subscription-based models that help customers to convert the high cost of acquiring new technology from a capital expenditure (CapEx) to an operating expense (OpEx) and the ability to use the latest technologies and access customized services, including device configuration, installation, data migration, on-site support, and technology recycling, increasing demand.

New York, June 15, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Device-as-a-Service Market with COVID-19 Impact Analysis by Offering, Device Type, Organisation Size, End User & Region - Global Forecast to 2026" -

In terms of market size, the hardware offering is expected to have the largest market share during the forecast period.The hardware devices offered under the device-as-a-service model include desktops, laptops, notebooks, tablets, smartphones, and peripherals.

Hardware devices are important components of the device-as-a-service model.A standard device-as-a-service model includes procurement, deployment, integration, managed services, and disposal of this hardware.

Intensifying competition among OEMs to provide device-as-a-service to end users is leading to product launches and developments pertaining to hardware, software, and services.The market for hardware is expected to grow significantly due to the increasing interest of enterprises in different types of hardware such as laptops, notebooks, and desktops combined in a single offering.

Moreover, IT infrastructure can quickly become outdated; it becomes a boon for mid-sized companies that cannot afford to upgrade technologies every few years. Thus, device-as-a-service models helps to update devices and refresh them according to their cycle.

Smartphones and peripherals device type to grow at highest CAGR during the forecast period
IT executives are reluctant to deliver controls of departmental assets unless pressurized to do so.In an office workstation, younger employees prefer the use of mobile devices.

Moreover, most employees collaborate with each other through their smartphones.DaaS solutions for smartphones offer organizations the benefits of lower costs, access to recent technologies, more predictable prices, and strong enterprise security.

The demand for smartphones has been flattening out over the past few years.However, new paradigms like device-as-a-service, where users pay subscription fees to have the latest devices at all times, could change things.

Peripherals such as a computer mouse or keyboard are usually bundled with other mains such as desktops and laptops. Other types of peripherals that are provided as additional services in device-as-a-service models include expansion cards, graphics cards, image scanners, tape drives, microphones, loudspeakers, webcams, and digital cameras. Microsoft is one of the largest providers of peripherals in device-as-a-service solutions.

Small and medium-sized enterprises expected to hold the largest market share during the forecast period
Small and medium-sized enterprises are expected to adopt the device-as-a-service model at large during the forecast period, owing to the benefits offered by these solutions, including low capital expenditure.Moreover, it is expected that medium-sized enterprises in mature markets, lacking budget or capabilities to invest in automation, are expected to shift to outsourced service desk solutions in the near future, which will further create opportunities for device-as-a-service vendors in this segment.

Small and medium-sized enterprises have been adopting the operating expenses (OpEx) business model over capital expenditure (CapEx), which is expected to further drive the market for device-as-a-service.DaaS enables enterprises to prioritize their investments by leasing hardware and associated services instead of purchasing high-cost hardware devices.

The DaaS model minimizes costs and increases profits by tracking expenses on a daily basis. Small and medium-sized enterprises have low capital; thus, device-as-a-service is the most preferred solution for such organizations with a low IT budget.

IT and Telecommunications end user to grow at the highest CAGR during the forecast period
Access to secure, reliable, and high-performance IT devices are fundamental to operations of the IT and telecommunication industries; thus, the segment generates the most significant demand for IT devices such as desktops, laptops, tablets, notebooks, and smartphones.Moreover, the demand for constant updates of software and related services is more in this industry, thus contributing towards increased demand for device-as-a-service.

DaaS enables timely upgrade and maintenance of hardware and software, allowing companies to reduce IT burdens; moreover, it helps to avoid technological obsolescence, which ultimately enhances productivity.Moreover, due to the introduction of the internet of things (IoT), communication service providers (CSPs) are adopting more data-centric approaches that would enable smart devices to stay connected with the internet without any interruption.

Thus, telecommunication companies will be investing more in resources and provide the highest quality of network and services, which will indirectly help boost the adoption of more IT devices. Moreover, with increasing awareness regarding the benefits offered by device-as-a-service and shifting preference from the CapEx model to the OpEx business model in a bid to reduce additional investments in IT infrastructure, the market for device-as-a-service is set to exhibit an upbeat growth outlook

North America to account for largest market share during the forecast period
In 2020, North America accounted for the largest share of the device-as-a-service market, and a similar trend is expected to be witnessed during the forecast period.High demand for device-as-a-service from the IT and telecommunications end users is one of the major factors leading to the growth of the market in North America.

Various IT and telecommunication companies such as AT&T, Microsoft, and Apple, are based in this region. Besides, several companies offering device-as-a-service, including Dell Technologies (US), HP (US), and Microsoft (US), also have a presence in this region, which further adds to the growth of the device-as-a-service market in North America.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the device-as-a-service market. Following is the breakup of the profiles of primary participants for the report.
• By Company Type: Tier 1 – 30 %, Tier 2 – 50%, and Tier 3 – 20%
• By Designation: C-Level Executives – 25%, Managers – 20%, and Others – 55%
• By Region: North America – 40%, Europe – 20%, APAC – 30%, and RoW – 10%
The report profiles key players in the device-as-a-service market and analyzes their market shares. Players profiled in this report are Dell Technologies (US), Lenovo (China), Hewlett Packard (US), Microsoft (US), Cisco (US), CompuCom(US), 3stepIT (Finland), Telia Company (Sweden), Atea Global Services (Latvia), CHG MERIDIAN (Germany), CSI Leasing (US), Computacenter (UK), Econocom(France), GreenFlex (France), GRENKE(Germany), Excellence IT (UK), Foxway (Sweden), Apple (US), SHI International (US), Hemmersbach (Germany), StarHub(Singapore), Computer Systems Australia (CSA) (Australia), PC Connection (US), Softcat (UK) and SYNNEX (US).

Research Coverage
This report segments the device-as-a-service market by offering, device type, organisation, end user, and geography. It also describes major drivers, restraints, challenges, and opportunities about this market, as well as includes market share analysis, value chain analysis, porter’s five forces analysis, trade analysis, ecosystem, technological trends, key patents, standards and regulations, and case studies/use cases.

Reasons to Buy This Report

The report will help leaders/new entrants in the device-as-a-service market in the following ways:
1. The report segments the device-as-a-service market comprehensively and provides the closest market size estimation for all subsegments across regions.
2. The report will help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities about the device-as-a-service market.
3. The report will help stakeholders understand their competitors better and gain insights to improve their position in the device-as-a-service market. The competitive landscape section describes the competitor ecosystem.
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