Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
Over the years, companies have upgraded their technology, making their IT infrastructure more expensive. This increase in costs, both in buying equipment (CAPEX) and operating it (Opex), has been significant. A 2019 survey by Spiceworks, Inc found that many North American and European businesses increased their IT budgets to update old infrastructure. The survey also highlighted factors contributing to this increase.
To deal with these rising IT costs, companies are turning to Device as a Service (DaaS) solutions. DaaS is a way for businesses to manage their devices like computers, laptops, tablets, and phones, as well as the necessary software. It provides various services under one contract, making it easier for companies to handle their IT needs.
DaaS is beneficial because it reduces the need for companies to spend a lot on buying and managing devices. Instead, they can pay a single vendor for a comprehensive solution that includes support and maintenance. This eliminates the need for extra IT staff and simplifies the whole process of getting and using devices.
In summary, as businesses look for ways to cut costs in buying and managing IT equipment, the adoption of DaaS is expected to grow. This trend is driven by the need to reduce both capital expenditure (CAPEX) and operational expenditure (Opex) in enterprises.
This shift towards Device as a Service (DaaS) is driven by the desire of businesses to manage their expenses more effectively. DaaS provides a comprehensive solution that includes not only the devices themselves but also support and maintenance services. This is particularly attractive to companies because it means they don't have to handle complex technical tasks on their own or hire additional IT staff.
As companies aim to keep up with the latest technology without breaking the bank, DaaS offers a subscription model that allows for regular updates and access to modern devices. It eliminates the need for large upfront investments, making it easier for businesses to stay technologically current.
Furthermore, the adoption of DaaS simplifies the whole process of device procurement and deployment. Instead of dealing with multiple vendors for hardware, software, and support, companies can rely on a single point of contact. This not only reduces complexity but also lowers the overall costs associated with managing and maintaining IT infrastructure.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Increasing Adoption of Iot |
| Market Dynamics | Rising need to reduce the capital expenditure (Capex) and operational expenditure (Opex) among enterprises Adoption of contract-based services and solutions by SME’ |
Device as a Service Market Highlights:
Device as a Service Market Overview
Device as a Service Market is projected to grow from USD 146.5 Billion in 2024 to USD 909.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 25.64% during the forecast period (2024 - 2032). Additionally, the market size for Device as a Service was valued at USD 117.0 billion in 2023.
The device as a service (DaaS) is likely to be a game changer in the commercial market and expected to have a revolutionary impact on the market in the next few years. The market growth is attributed to the rising adoption of bring your own device (BYOD) by small and medium-sized businesses and the rising need of enterprises to reduce their capital expenditure (CAPEX) and operational expenditure (OPEX).
Figure 1: Device as a Service Market Size, 2024-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Device as a Service Trends
Adoption Of Contract-Based Services and Solutions by SME’s
DaaS facilitates the company's IT needs by providing hardware, software, and equipment management from external providers. As a result of subscribing to a DaaS, the organization can upgrade and deploy portable devices as needed and update the new hardware more often and quickly without much effort. As part of an agreement for DaaS, the customer does not have the option or intention to own the hardware. The client simply pays to use the equipment during the contract, and they can upgrade to the latest and greatest machine for a comparable monthly fee.
Usually, organizations with remote workers are required to provide laptops and desktops for their workers. The IT teams must configure the devices according to the internal IT structure after procurement. A device's maintenance and security need to be taken care of after deployment.
Employee workspaces can be provided by companies through Device as a Service without having to procure hardware, configure individual configurations, or maintain them. With DaaS, businesses can enable their employees to work remotely without having to deal with additional hardware or software issues. It could result in significant cost savings for Small and Medium Sized Enterprises (SMEs) and provide them with the option to scale up as needed.
Device as a Service Market Covid Impact
During the pre-COVID-19 phase, the device as a service was majorly in demand from large enterprises. However, in March 2020, with the sudden implementation of the lockdown, there has been a rapid growth in the device as a service market. With an increasing number of companies looking at work from home options amidst the COVID-19 outbreak, there has been a sudden spike in demand for laptops and other IT hardware devices.
The device as a service market has witnessed an increasing demand during the pandemic phase to manage hardware devices are such as personal computers (PCs), laptops, desktops, tablets or mobile phones, and the software that is required to operate in the enterprises so that they are readily available for remote working environments. DaaS has also been witnessing demand from SMEs as it provides all the related services under a single contract to a customer with monthly subscription fees, thereby helping enterprises to minimize their IT expenses, particularly for IT hardware infrastructure.
Device as a Service Market Russia-Ukraine War Impact
Russia's invasion of Ukraine and the ongoing effects of the pandemic had a negative and unclear impact on the world economy. Many of the downside risks mentioned in April World Economic Outlook have started to manifest. The world's financial conditions have become more rigid due to higher-than-expected inflation, particularly in the United States and major European nations. With COVID-19 outbreaks and lockdowns, China's recession has been greater than expected, and the conflict in Ukraine has had further detrimental effects.
Device as a Service Segment Insights
Device as a Service Component Insights
Device as a Service segmentation, based on component, includes hardware, solution, and services. The hardware segment accounted for the largest market share in the device as a service market. The segment has been further segmented into desktop, laptops, printers, and others. Though the DaaS market is at a nascent stage, the market exhibits similar growth pattern with respect to PC as a service market, whereas, the scope for DaaS market includes all the hardware devices required by enterprises for their work processes.
June 2021, Lenovo has introduced its device as a service (DaaS) offering across its complete device lineup in the U.K. The DaaS product from Lenovo is divided into three tiers: Simplify, Accelerate, and Transform are available on Lenovo.com or through the Lenovo Partner Hub.
Device as a Service Organization Size Insights
Device as a Service segmentation, based on organization size, includes SME’s and large enterprises. SMEs accounted for the largest market share in the device as a service market. SMEs are unable to cater to the additional cost for IT support and maintenance and increasingly witness heavy expenditure on IT infrastructure. Thus, in order to overcome such financial obstacles, SMEs adopt the device as a service model, which enables them to manage their resources significantly and improve business efficiency.
January 2023, Microsoft announced the wide availability of the Microsoft Surface Laptop Studio and Surface Pro 8 for businesses and organizations across industries in the Middle East at the LEAP conference in Riyadh. The new Surface products safeguard productivity, stimulate innovation, and prioritize accessibility while guaranteeing the safety and security of all users and encouraging sustainable tech solutions. They were designed to be contemporary and vital gadgets for hybrid workforces.
Device as a Service Industry Vertical Insights
The Device as a Service market based on industry verticals has been bifurcated into BFSI, healthcare, manufacturing, retail, IT & telecommunication, education, government, and others. The IT and telecom segment accounted for the largest market share in the DaaS market. Some of the major factors contributing to the market growth include rapid technological advancements, increasing investment to develop telecom networks, expansion of 4G networks, and rising cloud infrastructure. Also, IT giants such as HP Inc., Dell Inc., and Microsoft also offering DaaS services for the IT enterprises to lower the expenditure. VMware, a subsidiary of Dell Inc. offers its cloud infrastructure to enable telecom service providers to deliver desktops as a service (DaaS), that offers consulting services such as access to desktops and software applications without any additional cost.
Figure 2: Device as a Service Market By Industry Vertical, 2024 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
May 2022, Dell provides end-to-end device management by merging "warehousing and inventory management” with configuration services and deployment knowledge into a single end-to-end solution.
January 2021, Dell introduced new tools and software that reinvent work for anyone to reach their full potential. To provide employees more freedom to work from anywhere, Dell is changing work experiences with a new portfolio of intelligent, collaborative, and sustainable devices.
Device as a Service Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific Middle East & Africa, and South America. During the projected period, North America is the major region in terms of market share in the DaaS market. The market has the presence of many DaaS vendors that offer their services to local as well as international clients. The leading players in the region include HP Development Company, L.P., Microsoft Corporation, SHI International Corporation, and Plantronics, Inc., which operate across the region. The key driving factors for the growth of the DaaS market in the region include the rising need to reduce the capital expenditure (Capex) and operational expenditure (Opex) by enterprises as well as the adoption of contract-based services and solutions by SMEs.
figure 3: Device as a service market share by region 2024 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
During the forecast period, Asia Pacific is predicted to be the fastest-growing region for the Device as a Service market. This is attributed to the presence of active players in China, Japan, Republic of Korea, India, and Hong Kong. The companies in Asia-Pacific are Lenovo (Hong Kong), SAMSUNG (South Korea), ZTE Corporation (China), Fujitsu (Japan), and others. Other key industry players of this market are expanding their services to the Asia-Pacific market by collaborating with channel partners and resellers.
The countries considered in the scope of Device as a Service market are US, Canada, Mexico, UK, Germany, France, Italy, Spain, Switzerland, Austria, Belgium, Denmark, Finland, Greece, Hungary, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Sweden, Romania, Ireland, China, Japan, Singapore, Malaysia, Indonesia, Philippines, South Korea, Hong Kong, Macau, Singapore, Brunei, India, Australia & New Zealand, South Africa, Egypt, Nigeria, Saudi Arabia, Qatar, United Arab Emirates, Bahrain, Kuwait, and Oman, Brazil, Argentina, Chile, and others.
Device as a Service Key Market Players & Competitive Insights
The Device as a Service market is expected to witness high competition owing to the limited number of vendors offering innovative standard, advanced, and premium subscription plans. The key HP Development Company, L.P (US), Microsoft Corporation (US), Dell Inc. (US), Amazon Web Services Inc. (US), Lenovo (Hong Kong), Citrix Systems, Inc. (US), Plantronics, Inc. (US), CompuCom Systems, Inc., (US), Capgemini (France), and SHI International Corp. (US)vendors in the market are. Furtherore, there are a few other vendors that operate in the market as channel partners and/or value-added resellers (VAR) who offer services on a subscription basis.
These companies are focusing on enhancing their products with improved technologies. Moreover, most of these companies are prominent providers of DaaS and are competing in the market to increase their geographic presence, grow their customer base, and form strategic partnerships. The market players are adopting both organic and inorganic growth strategies, under which they form strategic partnerships and collaborations to offer innovative platforms for customers. Thus, the competition in the market is likely to intensify further due to technological advancements, mergers, and strategic acquisitions.
Key Companies in the Device as a Service includes
-
HP Development Company, L.P (US)
-
Microsoft Corporation (US)
-
Dell Inc. (US)
-
Amazon Web Services Inc. (US)
-
Lenovo (Hong Kong)
-
Citrix Systems, Inc. (US)
-
Plantronics, Inc. (US)
-
CompuCom Systems, Inc., (US)
-
Capgemini (France)
-
SHI International Corp. (US) among others
Device as a Service Industry Developments
In October 2023 - HP Inc. hosted its first-ever HP Imagine event, where it unveiled more than 20 new devices and services designed to revolutionize how we live, work, and dream. The event showcased HP's latest breakthrough innovations across Personal Systems, Printing Systems, and Workforce Solutions.
In September 2023 - Advantech, a leading provider of intelligent systems, has recently launched a new cloud-based version of its DeviceOn-iService Suite SaaS for remote device management. This new version promises a more user-friendly and convenient remote device management experience, in addition to the comprehensive equipment and peripheral monitoring and management capabilities offered by its predecessor.
In September 2023 - Nokia launched a range of industrial 5G devices designed to keep workers safe, connected, and informed in hazardous and industrial environments such as ports, mines, chemical plants, and offshore oil platforms. The launch of these industrial 5G devices and services demonstrates Nokia's commitment to providing innovative solutions that address the unique challenges of industrial environments while keeping workers safe and connected.
In August 2023 - RingCentral, a leading voice-over-internet protocol (VoIP) service provider, has launched a subscription service for handsets, allowing customers to purchase hardware phones as part of a monthly subscription.
In October 2022- HP launched an expanded version of its device-as-a-service (DaaS) offering called HP DaaS+ Hybrid, which is a managed service optimized for customers with remote workforces. The new service is designed to provide customers with a more flexible and cost-effective solution for their business communication needs.
Device as a Service Model Segmentation
Device as a Service Component Outlook
-
Hardware
-
Desktop
-
Laptop
-
Printers
-
Others
-
-
Solution
-
Services
-
Professional Services
-
Managed Services
-
Device as a Service Organization Size Outlook
-
SME’s
-
Large Enterprises
Device as a Service Industry Vertical Outlook
-
IT & Telecom
-
BFSI
-
Healthcare
-
Retail
-
Government
-
Education
-
Manufacturing
-
Others
Device as a Service Regional Outlook
-
North America
-
US
-
Canada
-
Europe
-
Germany
-
France
-
UK
-
Italy
-
Spain
-
Rest of Europe
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Australia
-
Rest of Asia-Pacific
-
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
-
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
