Device as a Service Market 2024-2032 Overview: Trends, Competitor Dynamics, and Opportunities

Key Insights

The Device as a Service Market size was valued at USD 27.62 USD Billion in 2023 and is projected to reach USD 143.17 USD Billion by 2032, exhibiting a CAGR of 26.5 % during the forecast period. DaaS is a modern-day model for device management. It bundles the leasing of hardware devices such as laptops, tablets, and accessories together with life-cycle servicing, run-up, and deployment into a single monthly, per-person contract. This paid subscription-based service helps simplify company's IT and mitigates the cost and hassle that comes with managing it all in-house. This outsourcing of device management also frees up IT team to focus on core business tasks, such as technology innovation projects designed to help grow business. DaaS allows immediate access to better performing devices without high up-front expenditure. It also empowers employees by giving them the right devices for their needs, so they can be their most productive. DaaS is particularly beneficial with the rise in remote work, providing devices preconfigured with essential software from the start.

Device as a Service Trends

• Rapid adoption of cloud-based services and solutions
• Increasing demand for flexible and subscription-based device management models
• Growing focus on cost optimization and efficiency

Driving Forces: What's Propelling the Device as a Service Market

• Surging BYOD (Bring Your Own Device) Adoption: Employees increasingly use their personal devices for work, driving the need for Device as a Service (DaaS) solutions to manage and secure these devices.
• Remote Work Revolution: The shift towards remote work has heightened the necessity for comprehensive device management and security solutions to protect corporate data and ensure employee productivity.
• IoT and AI Device Proliferation: The growing adoption of IoT and AI devices has increased the complexity of device management, making DaaS solutions crucial for managing and optimizing these connected devices.
• Sustainability Consciousness: Environmental concerns have fueled the adoption of DaaS, as it enables organizations to extend device life cycles, reduce e-waste, and adopt more sustainable device management practices.

Challenges and Restraints in Device as a Service Market

• Cybersecurity Threats: DaaS brings its own set of security risks, requiring robust security measures to protect sensitive corporate data from cyberattacks.
• Device Compatibility and Integration: Ensuring seamless compatibility between various devices and operating systems can be a challenge for DaaS providers, especially in BYOD environments.
• Limited Awareness: Lack of understanding and awareness about DaaS benefits can hinder its adoption in some organizations.

Emerging Trends in Device as a Service

• Integrated device as a service (IDaaS)
• Edge computing-enabled DaaS
• Subscription-based models for hardware devices

Growth Catalysts in Device as a Service Industry

• Government Support for Digitalization: Government initiatives promoting digital transformation drive DaaS adoption as it aligns with modernization and efficiency goals.
• Device Management Advancements: Continuous advancements in device management technologies, such as unified endpoint management (UEM), enhance the efficiency and effectiveness of DaaS solutions.
• Industry Collaborations: Partnerships between device manufacturers and service providers accelerate DaaS adoption by offering comprehensive and integrated solutions that cater to specific industry needs.

Market Segmentation: Device as a Service Analysis

• Offering:
  • Hardware
  • Services
• Enterprise Type:
  • Large Enterprises
  • Small & Medium Enterprises (SMEs)
• End-User:
  • BFSI
  • IT and Telecommunications
  • Education
  • Healthcare and Life Sciences
  • Government and Public
  • Others

Leading Players in the Device as a Service Market

• Dell Technologies (U.S.)
• Lenovo (China)
• HP Development Company, L.P. (U.S.)
• Microsoft Corporation (U.S.)
• CompuCom Systems, Inc. (U.S.)
• Atea Global Services Ltd. (Latvia)
• Computacenter plc (U.K.)
• RingCentral, Inc (U.S.)
• Intel Corporation (U.S.)
• Accenture (Ireland)

Significant developments in Device as a Service Sector

• Jio Financial Services Ltd. launched a DaaS financial model for corporates.
• RingCentral, Inc. announced a subscription model for hardware phones.
• Insight Enterprises extended its equipment as a service portfolio.
• Foxway introduced a DaaS solution for technology devices.
• Lenovo introduced new ChromeOS and Windows 11 laptops with a DaaS option for K-12 schools.

Comprehensive Coverage Device as a Service Market Report

• Market Overview and Key Insights
• Market Segmentation and Analysis
• Emerging Trends and Growth Catalysts
• Key Market Players and Strategies
• Regional Analysis
• Industry Regulations and Standards

Regional Insight

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Recent Mergers & Acquisition

• Insight Enterprises acquired GreatVines
• Computacenter plc acquired Stack Infrastructure
• Dell Technologies acquired VMware
• Lenovo acquired NetApp

Regulation

• Data Protection Regulations
• GDPR (General Data Protection Regulation)
• CCPA (California Consumer Privacy Act)

Patent Analysis

• Analysis of key DaaS-related patents
• Identification of innovation trends and potential market disruptors

Analyst Comment

• Market overview and key drivers
• Industry challenges and opportunities
• Future projections and growth outlook
• Recommendations for stakeholders