Device as a Service (DaaS) Market

Market Overview

For companies of all sizes, Device-as-a-Service (DaaS) is streamlining IT administration. Through its subscription-based business model, businesses may get hardware (such as PCs and laptops), software, upkeep, and support in one convenient bundle. Internal teams may concentrate on strategic objectives as a result of the decreased IT strain and expenses. It has a number of advantages. Compared to typical hardware purchases, companies may save upfront and continuing expenses. Additionally, it guarantees regular maintenance and updates, keeping antiquated technology from impeding output. DaaS also offers a flexible solution, allowing businesses to simply scale their device requirements up or down as needed. The growing popularity of cloud services and the demand for affordable, safe devices for remote work are driving the DaaS industry. The market is now led by North America, but due to its booming tech industry and growing demand from SMEs for flexible IT solutions, the Asia-Pacific region is predicted to develop at the quickest rate. Its usage was further spurred by the COVID-19 epidemic, as companies quickly outfitted their remote workforces. DaaS significantly expanded the industry by providing a rapid and effective method of provisioning hardware and software. Looking ahead, DaaS has a bright future. The market will continue to develop as a result of the increase in remote work and rising awareness of DaaS's efficiency and cost-saving advantages.

Device as a Service (DaaS) Market Size

Report	Details
Market Size Value	USD 61.49 Billion in 2023
Market Size Value	USD 638.88 Billion by 2032
CAGR	39.71%
Forecast Period	2024-2032
Base Year	2023
Historic Data	2020

Major key players in the 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.

Increased Need for IT Security

The Device-as-a-Service (DaaS) industry is mostly driven by the constantly changing cyber security scenario, which includes sophisticated cyberattacks, BYOD problems, and the growth of remote work with its increased attack surface. By providing centralized device management with regular security updates and rules, pre-configured features like firewalls and encryption, and timely patching, DaaS addresses these problems. This results in lower risk of data breaches, easier security management for companies, and more compliance. To further improve overall security posture, DaaS providers now allow multi-factor authentication and give capabilities like remote data erase. DaaS providers are always improving their products to keep ahead of the curve as cyber threats continue to change, which makes DaaS an increasingly appealing option for companies looking to manage their IT infrastructure effectively and safely.

Market Dynamics

Drivers:

• Growing Adoption of Subscription Models
• Increased Need for IT Security
• Rise of Small and Medium Enterprises (SMEs)
• Evolving Technological Landscape

Opportunities:

• Emerging Technologies in
• Expansion into New Verticals
• Focus on Sustainability
• Enhanced Service Offerings

Expansion into New Verticals

Beyond its existing domination in the IT industry, Device-as-a-Service (DaaS) has promising prospects for growth into other industries. DaaS may be used by healthcare organizations to manage specific medical equipment and guarantee regular upgrades. Educational establishments can afford to provide their pupils with tablets or laptops. Secure mobile device management may help manufacturing with machine control, communication, and data collecting. Retail establishments may also use DaaS for customer service, inventory control, and safe point-of-sale systems. In order to fully realize this potential, DaaS providers and industry stakeholders must work together to customize solutions to meet the unique requirements of each vertical.

The market for Device as a Service is dominated by North America.

North America is the prominent region in the device-as-a-service market due to the high demand for the DaaS from the IT and telecommunications sector. In 2023, North America has become the main power in the Daas industry. The region's rapid adoption of cutting-edge business strategies and robust IT infrastructure are credited with this dominance. Additionally, the regional DaaS market is being driven by the high rate of adoption of cutting-edge technology by local businesses. North America is home to numerous DaaS providers, such as Dell, Apple, and HP, that offer DaaS services. By encouraging SMEs and major organizations to embrace these services, these providers are contributing to the growth of the region. One of the main things propelling the regional market is the existence of important market players in this area. In addition, businesses are using device-as-a-service more frequently for improved administration, which will support the expansion of the DaaS industry in the area.

region's growing acceptance of cloud-based services in nations like China. The adoption of DaaS is anticipated to be fueled by the region's expanding small and medium-sized businesses' need for affordable device management. Initiatives to modernize outdated systems, enhance connectivity, and support digital innovation are also driving increased investments in IT infrastructure throughout the Asia Pacific region, which will propel the market in the upcoming years.

The Device Category type segment is anticipated to hold the largest market share during the forecast period

Business of all over the world are served by devise as a service market (Daas) sector, includes providing hardware access through a subscription-based approach. Desktops and laptops which are important in device market this devoted to operating segment, for example, provide choices such as Windows10/11, macOS, ChromeOS. Based on general use and high- end workstations for various uses. I t is also distinguished on the basis of conventional laptops, lightweight, convertible.

Major Segmentations Are Distributed as follows:

• Device Category:
  • Desktops & Laptops
  • Tablets & Smartphones
  • Printers & Scanners
  • Networking Equipment (Routers, Switches)
  • Point-of-Sale Systems (POS)
  • Medical Devices (depending on regulations)
• Service Model:
  • Hardware-as-a-Service (HaaS)
  • Software-as-a-Service (SaaS)
  • Managed Services
• End Users:
  • Small and Medium Enterprises (SMEs)
  • Large Enterprises
  • Educational Institutions
  • Government Agencies
• By Region
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • U.K.
    • BENELUX
    • CIS & Russia
    • Nordics
    • Austria
    • Poland
    • Rest of Europe
  • Asia Pacific

• • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Vietnam
  • Australia & New Zealand
  • Rest of Asia Pacific

• • Middle East & Africa

• • Saudi Arabia
  • UAE
  • South Africa
  • Nigeria
  • Egypt
  • Israel
  • Turkey
  • Rest of MEA

 Recent Developments

• April 2024, Microsoft announced the expansion of its Microsoft 365 with Windows 365 DaaS offering to 14 new markets. This expansion allows businesses in these new markets to leverage Microsoft's comprehensive DaaS solution.
• March 2024, HP Inc., a major player in the DaaS market, announced a partnership with cybersecurity firm CrowdStrike. This partnership aims to integrate CrowdStrike's Falcon endpoint protection platform into HP's DaaS offerings. This integration strengthens the security posture of devices managed under HP's DaaS solutions, provide many features.
• January 2024, An Indian financial services company called Jio Financial Services Ltd. introduced the Device as a Service (DaaS) financial model, enabling corporates to provide a range of assets, such as phones, laptops, and air Fiber, on operational and financing leases.
• August 2023, the cloud-based product and service provider RingCentral, Inc. announced the introduction of a physical phone subscription plan. Earlier, the full purchase amount was required in advance to buy hardware phones.

Answers to Following Key Questions:

• What will be the Device as a Service Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers in the Device as a Service Market?
• What are the main forces behind worldwide Device as a Service Market? Which companies dominate Device as a Service Market?
• Which companies dominate Device as a Service Market? Which business possibilities, dangers, and tactics did they embrace in the market?
• What are the global Insight Engines industry's suppliers' opportunities and dangers in Device as a Service Market?
• What is the Insight Engines industry's regional sales, income, and pricing analysis? In the Device as a Service Market, who are the distributors, traders, and resellers?
• What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Device as a Service Market?
• What are the main geographical areas for various industries that are anticipated to observe astounding expansion for Device as a Service Market?
• What are the dominant revenue-generating regions for Device as a Service Market, as well as regional growth trends?
• By the end of the forecast period, what will the market size and growth rate be?
• What are the main Device as a Service Market trends that are influencing the market's expansion?
• Which key product categories dominate Device as a Service Market? What is Device as a Service Market’s main applications?
• In the coming years, which Device as a Service Market technology will dominate the market?