Device-as-a-Service Market (By Offering; By Device Type: Desktop, Laptop, Notebook & Tablets, Smartphone & Peripheral; By Organization; By Industry Vertical) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2023-2032

The global device-as-a-service market size was estimated at around USD 58.42 billion in 2022 and it is projected to hit around USD 1,445.34 billion by 2032, growing at a CAGR of 37.83% from 2023 to 2032.

Key Pointers

• The hardware segment dominated the market in 2022 and accounted for over 40.11% of the overall revenue share.
• The service segment is anticipated to expand at the highest CAGR during the forecast period. 
• The small and medium enterprise segment accounted for the highest revenue share of over 60.18% in 2022.
• The small and medium enterprise segment is also estimated to expand at the highest CAGR of over 38.08% from 2023 to 2032.
• The IT and telecommunication segment dominated the market with a revenue share of over 24.15% in 2022.
• The IT and telecommunication segment is also expected to expand at the highest CAGR over the forecast period.
• The desktop segment dominated the market in 2022 with a revenue share of more than 40.04%.
• The smartphone and peripheral segment is expected to register the highest CAGR over the forecast period.
• North America accounted for the highest revenue share of 29.08% in 2022. 
• Asia Pacific is expected to expand at the highest CAGR over the forecast period.

Report Scope of the Device-as-a-Service Market

The promising growth prospects of the market can be attributed to the growing demand for a subscription model that can allow end-users to switch from a capital expenditure-based model to an operating expenses-based model and acquire the latest technology. The increasing adoption of cloud services in developing countries is expected to drive market growth. Furthermore, the adoption of contact-based services and solutions by small and medium enterprises is expected to favor the growth of the market. The COVID-19 pandemic had a positive impact on the market. The pandemic significantly changed the work dynamics globally, compelling businesses to prioritize the adoption of the cloud and remote working practices to curb the spread of COVID-19 infections. Furthermore, the pandemic has encouraged digital transformation activities and the adoption of several technologies, boosting the adoption of the device-as-a-service (DaaS) model.

DaaS enables timely upgrade and maintenance of software and hardware, allowing companies to reduce the IT burden; moreover, the model helps avoid technological obsolescence, ultimately enhancing productivity. Flexible structuring of device-as-a-service offers businesses to scale up/scale down device count and attached services. These factors are expected to drive the market over the forecast period.

Furthermore, the rapid adoption of the subscription model, higher policy compliance, increased user productivity, reduction in help desk spending, and the growing need for cost-efficient and secured devices have accelerated the market growth. The boost in the startup ecosystem is expected to drive the demand for the DaaS model. However, the lack of technical expertise and adoption of CYOD policies could hamper the growth of the market.

The device-as-a-service model is gaining popularity among large as well as small and medium enterprises as it allows them to lease hardware such as laptops, desktops, smartphones, and tablets with preconfigured software or services. The increased adoption of IoT is also expected to drive the demand for the model. Technological advancements, increasing penetration of high-speed networks, and growing advancements in web services are other factors expected to drive the growth of the Device-as-a-Service market.

Device-as-a-Service Market Segmentations: