New York, United States, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Businesses may decrease their IT load by using DaaS, ensuring that software and hardware are updated and maintained promptly, thereby increasing productivity. Device-as-a-service allows businesses to increase or decrease the number of devices and services they use. The market is anticipated to be driven by these factors during the forecast period. In addition, the rapid adoption of the subscription model, increased policy compliance, increased user productivity, decreased help desk expenses, and the rising demand for cost-effective and secure devices have accelerated the market growth. It is anticipated that the expansion of the startup ecosystem will increase demand for the DaaS model. However, lacking technical expertise and adopting CYOD policies may impede market expansion.
The device-as-a-service model is gaining popularity among large, small, and medium-sized businesses because it enables them to lease hardware such as laptops, desktops, smartphones, tablets, and preconfigured software or services. Increased IoT adoption is also anticipated to drive demand for the model. Other factors expected to drive the growth of the Device-as-a-Service market include technological advances, the increasing penetration of high-speed networks, and web services development.
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Market Dynamics
Drivers
The rapid adoption of the subscription-based services model
The rapid adoption of subscription-based services drives the device-as-a-service market. Subscription-based device-as-a-service models help customers turn high technology costs into operating expenses (OpEx). Small, midsize, and large businesses can free up cash for strategic revenue-driving initiatives. Other benefits include policy compliance, access to the latest technologies, device configuration, installation, data migration, on-site support, and technology recycling. As a subscription service, device-as-a-service allows an organization to scale up or down based on the operating environment and business needs. Organizations can pay for what they need and especially when they need it. These added advantages of DaaS can give rise to the market.
Restraint
WFH and Hybrid work model can restraint the market
Post pandemic organizations and businesses worldwide adopt the hybrid or work-from-home model. Adopting these models reduces the companies' dependency on outsourcing the devices for successful operations. Employees prefer to use their own devices for official use as well. The Choose-Your-Own-Device (CYOD) model, on the other hand, allows companies to provide their employees with access to a pre-approved selection of mobile devices from which to choose. These devices are owned by the company or paid for by the employees. Adopting these working models can hinder the growth of the device as a service (DaaS) market.
Opportunity
The introduction of the wearable-as-a-service (WaaS) model.
Smartwatches, VR headsets, AR glasses, and medical patches are popular among end-users, including businesses. These businesses want to benefit from wearable devices' mobility, interoperability, and data. Smartwatches, VR headsets, AR glasses, and medical patches are wearables. Several companies have begun producing wearable technology to market wearables (WaaS). Omate provides a service for wearables in China. Arkéa, a French bank and insurer, recently introduced its WaaS model, letting end-users or institutions rent wearable devices. No initial purchase of wearable devices is required, removing a potential sales barrier. Some manufacturers are developing smartwatches for recreational athletes, children, and the elderly. Government offices, healthcare organizations, insurance companies, and families use wearable technology to manage elderly care. The emergence of WaaS can give the device as a service (DaaS) market an ample opportunity.
Report Scope
| Report Metric | Details |
| Market Size | USD 455 Billion by 2030 |
| CAGR | 39.40% (2020-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Offering, Device Type, Organization, Industry Vertical, Regions |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Microsoft, Apple Inc, Dell Inc, Capgemini, Amazon Web Services Inc, HP Development Company LP, CompuCom Systems Inc, Yorktel, Citrix Systems Inc, Acer Inc, Plantronics Inc. |
| Key Market Opportunities | The Emergence of the Wearable-as-a-Service (WaaS) Model |
| Key Market Drivers | Mounting Adoption of Cloud Services & Subscription-based Devices |
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Segmental insights
The device as a Service (DaaS) Market is segmented based on Offering, Device Type, Organization, Industry Vertical, and Regional. The market is segmented by offering into hardware, software, and services. The hardware segment comprises desktops, laptops, tablets, notebooks, smartphones, and peripherals. The market has been segmented into small and medium enterprises and large enterprises based on business size. Based on Industry Vertical, the market is further segmented into Banking, Financial Services, and Insurance (BFSI), educational institutions, healthcare and life sciences, information technology and telecommunications, public sector and government offices, and others. Information technology and telecommunications dominated the market. The market has been segmented by device type into desktop; laptop; notebook, tablet; smartphone, and peripherals.
Regional Insights
Europe, North America, Asia-Pacific, Latin America, the Middle East, and Africa make up the demographically diverse global device as a service market. These regions are further categorized according to their nationality. Due to brand factories in developed nations such as the United States, North America commanded the largest share of the device-as-a-service market. In addition, the rapid adoption of DaaS by various end-use industries will help this region maintain its dominance during the 2022-2030 forecast period. On the other hand, Asia Pacific is likely to gain significant momentum in the coming years due to densely populated nations with a high proportion of working-class citizens and their reliance on software and electronic devices for daily operations.
Competitive Analysis
- Microsoft
- Apple Inc.
- Dell Inc.
- Capgemini
- Amazon Web Services Inc.
- HP Development Company LP.
- CompuCom Systems Inc.
- Yorktel
- Citrix Systems Inc.
- Acer Inc.
- Plantronics Inc.
- SHI International Corp.
- Intel Corporation (US.)
- Lenovo (China)
- Scantron Corporation (US.)
- Accenture
- Cisco
- Cognizant
- Computacenter
Market Segmentation
- Offering
-
- Hardware
- Software
- Service
- Device Type
- Desktop
- Laptop, Notebook, and Tablet
- Smartphone and Peripheral
- Organization
- Small and Medium Enterprise
- Large Enterprise
- Industry Vertical
- Banking, Financial Services and Insurance (BFSI)
- Educational Institution
- Healthcare and Life Science
- IT & Telecommunication
- Public Sector and Government Office
- Others
- Regional Outlook
- North America
-
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TABLE OF CONTENT
- Introduction
- Market Definition
- Market Scope
- Research Methodology
- Primary Research
- Research Methodology
- Assumptions & Exclusions
- Secondary Data Sources
- Market Overview
- Report Segmentation & Scope
- Value Chain Analysis: Device as a Service (DaaS) Market
- Key Market Trends
- Drivers
- Restraints
- Opportunities
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitution
- Threat of New Entrants
- Competitive Rivalry
- Market Share Analysis
- Offering Overview
- Introduction
- Market Size & Forecast
- Hardware
- Market Size & Forecast
- Software
- Market Size & Forecast
- Introduction
- Device Type Overview
- Introduction
- Market Size & Forecast
- Desktop
- Market Size & Forecast
- Laptop, Notebook, and Tablet
- Market Size & Forecast
- Introduction
- Regional Overview
- Introduction
- Market Size & Forecast
- America
- North America
- U.S.
- By Offering
- By Device Type
- Canada
- By Offering
- By Device Type
- Mexico
- By Offering
- By Device Type
- Latin America
- By Offering
- By Device Type
- Europe
- Market Size & Forecast
- Germany
- By Offering
- By Device Type
- France
- By Offering
- By Device Type
- U.K.
- By Offering
- By Device Type
- Italy
- By Offering
- By Device Type
- Spain
- By Offering
- By Device Type
- Rest of Europe
- By Offering
- By Device Type
- Asia Pacific
- Market Size & Forecast
- Japan
- By Offering
- By Device Type
- China
- By Offering
- By Device Type
- Australia
- By Offering
- By Device Type
- India
- By Offering
- By Device Type
- South Korea
- By Offering
- By Device Type
- Rest of Asia-Pacific
- By Offering
- By Device Type
- Middle East & Africa
- Market Size & Forecast
- Saudi Arabia
- By Offering
- By Device Type
- South Africa
- By Offering
- By Device Type
- Kuwait
- By Offering
- By Device Type
- Rest of Middle East & Africa
- By Offering
- By Device Type
- Introduction
- Company Profile
- Microsoft
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Apple Inc
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Dell Inc
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Microsoft
- Conclusion & Recommendation
- Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/device-as-a-service-market/toc
Recent Development
- 24 May 2022: Capgemini positioned as a leader in the IDC market scape worldwide cloud professional services vendor assessment. Among the 20 vendors assessed in this study, Capgemini was ranked as a Leader for cloud professional services delivery.
- 18 May 2022: AWS, Ingram Micro to Expand Public Sector Offerings for Partners. Amazon Web Services and Ingram Micro have expanded their multi-year strategic collaboration agreement to provide initiatives and joint investments for public sector organizations worldwide to thousands of channel partners.
News Media
Cloud Robotics: The Future is Here
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