Device-As-A-Service Market Dynamic Share, Growth Factors, Outlook until 2033

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 subscription-based models, end-to-end device management, customization and scalability, data analytics and insights, collaborations and partnerships, remote monitoring and maintenance.

Market Overview -
Device as a Service refers to a subscription-based service that provides businesses with a full slate of end-user devices and managed IT support bundled in the same package. Businesses can avoid the upfront costs of purchasing and collecting devices by using device as a service and instead focus on their core business activities.

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The Device-As-A-Service Market Soars With The Rise Of Subscription-Based Service Models
The rising adoption of the subscription-based service model is expected to propel the growth of the device-as-a-service market. A subscription-based service model is a business model in which customers pay a recurring fee or subscription price to access and utilize a service over a specific period of time. Device-as-a-service is a commonly used subscription-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 subscription models by 2022, and subscription services were used by 78% of individual industries worldwide. Further, the subscription economy will reach $1.3 trillion in the upcoming decade. Therefore, the rising adoption of subscription-based service models is driving the growth of the device-as-a-service market.

Competitive Landscape -
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, Accentur*e plc, 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.

Revolutionary Device-As-A-Service (DAAS) Technology For Seamless Business Mobility
Advanced technologies are key trends gaining popularity in the device-as-a-service market. Major companies operating in the device-as-a-service market are developing innovative technologies to sustain their position in the market. For instance, in January 2023, Social Mobile, a US-based enterprise mobility solution provider, launched Social Mobile ONE, a new device-as-a-service (DaaS) offering. This innovative technology is designed to help businesses of all sizes get the devices they need without worrying about upfront costs or ongoing maintenance. Additionally, it includes enterprise-grade hardware, device management software, managed mobility services, and cellular connectivity. Moreover, it is a cost-effective and easy-to-manage solution for businesses of all sizes. By using this technology, companies can avoid the high upfront costs of buying and managing mobile devices. They can also benefit from social mobile's expertise in mobile security and management.

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Key Segments -
The device-as-a-service market covered in this report is segmented -
1) By Device Type: Desktops, Laptops, Notebooks, Tablets, Smartphones And Peripherals
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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