SAN FRANCISCO, March 28, 2023 /PRNewswire/ -- The global device as a service market size is anticipated to reach USD 757.17 billion by 2030, expanding at a CAGR of 29.1% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The market growth can be attributed to the increasing adoption of the subscription-based services model, which allows organizations to invest in strategic planning instead of purchasing hardware devices that require upgrades every few years. Furthermore, an increase in the number of start-ups and the rising awareness about the device-as-a-service (DaaS) model among small and medium-size enterprises are expected to drive the market.

Key Industry Insights & Findings from the report:

• In terms of offering, the service segment is anticipated to register highest growth in the forecast period. The growing number of businesses using software and cloud-based platforms, along with consumer expectations for greater control over the services availed, is contributing to the growth of this segment.
• In terms of enterprise size, the small & medium enterprise segment is expected to attain the highest CAGR in the forecast period. The DaaS model allows SMEs to better utilize their IT infrastructure under tight cash flow conditions. An IT investment can be maximized by converting a substantial upfront capital expense to a more manageable operational expense.
• The IT and telecom segment dominated the market in 2022. The growth can be attributed to the growing awareness about DaaS and the shift in organizations' preference toward the OpEx business model.
• Asia Pacific is anticipated to register highest growth over the forecast period. The emerging feature of 5G networks in the region is also driving the growth of the market.

Read full market research report for more Insights, "Device As A Service Market Size, Share & Trends Analysis Report By Offering (Hardware, Software, Services), By Device Type (Desktop, Laptop, Notebook And Tablets), By Enterprise Size, By End-Use, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Device As A Service Market Growth & Trends

The market is expected to witness growth opportunities across industry verticals such as life science and healthcare, banking and financial institution, and education. The COVID-19 pandemic has encouraged digital transformation efforts and remote work practices. With an increasing number of companies offering employees work-from-home options, there has been a sudden spike in the need for laptops, notebooks, tablets, and other hardware devices. The consecutive rise in demand for DaaS to manage hardware devices, so they are readily available for the remote working environment, has favoured market growth. The demand for the device-as-a-service among small and medium enterprises has increased to reduce expenses related to hardware and lay emphasis on marketing and sales strategies.

Moreover, the growing demand for cost-efficient services and the increasing need for highly secured equipment is likely to generate growth opportunities for the device-as-a-service market. Technological advancements, the increased adoption of connected devices, and the high penetration of high-speed web networks across the globe are expected to boost market growth prospects. The need for enhancing productivity and the need for security compliance are expected to further drive the market over the forecast period.

Device As A Service Market Segmentation

Grand View Research has segmented the global device as a service market report based on offering, device type, enterprise size, end use, and region:

Device As A Service (DaaS) Market - Offering Outlook (Revenue, USD Billion; 2018 - 2030)

• Hardware
• Software
• Service

Device As A Service (DaaS) Market - Device Type Outlook (Revenue, USD Billion; 2018 - 2030)

• Desktop
• Laptop, Notebook and Tablet
• Smartphone and Peripheral

Device As A Service (DaaS) Market - Enterprise Size Outlook (Revenue, USD Billion; 2018 - 2030)

• Small & Medium Enterprise
• Large Enterprise

Device As A Service (DaaS) Market - End-use Outlook (Revenue, USD Billion; 2018 - 2030)

• Banking, Financial Services and Insurance (BFSI)
• Educational Institution
• Healthcare and Life Science
• IT & Telecom
• Public Sector and Government Office
• Others

Device As A Service (DaaS) Market - Regional Outlook (Revenue, USD Billion; 2018 - 2030)

• North America
• • U.S.
  • Canada
• Europe
• • U.K.
  • Germany
• Asia Pacific
• • China
  • Japan
  • India
• Latin America
• • Brazil
  • Mexico
• Middle East & Africa

List of Key Players of Device As A Service Market

• Accenture PLC
• Acer Inc.
• Apple Inc.
• Atea Global Services Ltd.
• Cisco Systems, Inc.
• Cognizant
• CompuCom Systems, Inc.
• Computacenter plc
• Dell Technologies Inc.
• Intel Corporation
• Hewlett Packard Enterprise Development LP
• Lenovo

Check out more related studies published by Grand View Research:

• IT Asset Disposition Market - The global IT asset disposition market size is projected to be USD 54,535.4 million by 2030, according to the latest study conducted by Grand View Research, Inc. The market is expected to exhibit a CAGR of 13.3% from 2023 to 2030. The growth of the ITAD market can be attributed to the increasing e-waste and the rising requirement for recycling in consideration of sustainability and a green planet.
• Warehouse Management Systems Market - The global warehouse management systems market size is anticipated to reach USD 13.34 billion by 2030, advancing at a CAGR of 19.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing transition towards cloud-based management systems in the warehouse industry is anticipated to boost the demand for WMS based on the Software-as-a-Service (SaaS) model.
• Enterprise Search Market - The global enterprise search market size is expected to reach USD 8.85 billion by 2030, registering an estimated CAGR of 8.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth can be attributed to the increasing need for efficient supervision of large volumes of data among organizations to strengthen their operational capabilities. The growing demand for solutions that facilitate time-saving data search as well as enhanced security is driving the adoption of enterprise search solutions. The rising significance of value-added services, along with search capabilities, is further driving their adoption across organizations.

Browse through Grand View Research's  IT Services & Applications Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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