Device-As-A-Service Market Overview 2024-2033 - Share, Size, Insights, Forecast

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Device-As-A-Service Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The device-as-a-service market size has grown exponentially in recent years. It will grow from $117.34 billion in 2023 to $155.43 billion in 2024 at a compound annual growth rate (CAGR) of 32.5%. The growth in the historic period can be attributed to enterprise digital transformation, cost-efficiency and predictable expenses, focus on core competencies, flexible work environments, end-of-life device management.

The device-as-a-service market size is expected to see exponential growth in the next few years. It will grow to $480.3 billion in 2028 at a compound annual growth rate (CAGR) of 32.6%. The growth in the forecast period can be attributed to focus on sustainability, increased it budget constraints, data security and privacy regulations, evolving business models, edge computing expansion. Major trends in the forecast period include subscrtion-based models, end-to-end device management, customization and scalability, data analytics and insights, collaborations and remote monitoring and maintenance.

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Key Market Players:

Major companies operating in the device-as-a-service market report are Apple Inc., Acer Inc., Samsung, Microsoft Corporation, Dell Inc., Lenovo Group Limited, Intel Corporation, SYNNEX Corporation, Cisco Systems Inc., Hewlett Packard Development Company L.P., Capgemini, Cognizant, DXC Technology, Vmware Inc., Swisscom AG, Telia Company AB, Computacenter plc., Atea Global Services Ltd., Citrix Systems Inc., CompuCom Systems Inc., Yorktel, EMPIST, Portsmouth Computer Group, Sunstate Technology Group, Trust Technology Solutions, Insight Enterprises Inc.

Market Drivers:

The rising adoption of the subscrition-based service model is expected to propel the growth of the device-as-a-service market. A subscrition-based service model is a business model in which customers pay a recurring fee or subscrition price to access and utilize a service over a specific period of time. Device-as-a-service is a commonly used subscrition-based service model that provides businesses with a comprehensive solution for accessing and managing their device infrastructure. Customers pay a recurring fee to access and utilize a range of devices a service provider offers. It is used for cost efficiency, scalability, simplified device management, and regular payments. For instance, in July 2022, according to reports shared by eLabs Inc., a Canada-based software company, 53% of all software income was generated from subscrption models by 2022, and subscrition services were used by 78% of individual industries worldwide. Further, the subscrption economy will reach $1.3 trillion in the upcoming decade. Therefore, the rising adoption of subscrption-based service models is driving the growth of the device-as-a-service market.

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The device-as-a-service market covered in this report is segmented -

1) By Device Type: Desktops, Laptops, Notebooks, Tablets, Smartphones And Perpherals
2) By Offering: Hardware, Software, Service
3) By Enterprise Size: Small And Medium Enterprise, Large Enterprise
4) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Educational Institutions, Healthcare And Life Sciences, IT And Telecommunication, Public Sector And Government Offices, Other Industry Verticals

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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