Dublin, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The "Device As A Service Market Size, Share & Trends Analysis Report By Offering (Hardware, Software, Services), By Device Type (Desktop, Laptop, Notebook And Tablets), By Enterprise Size, By End-Use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global device as a service (DaaS) market is poised for remarkable growth, with an anticipated size of USD 757.17 billion by 2030, expanding at an impressive compound annual growth rate (CAGR) of 29.1% from 2023 to 2030.
The market's upward trajectory can be attributed to the rising adoption of the subscription-based services model, enabling organizations to focus on strategic planning rather than investing in hardware devices that require frequent upgrades.
A key driver of market growth is the surge in start-ups and the growing awareness about the device-as-a-service model among small and medium-sized enterprises (SMEs). By embracing DaaS, organizations can reduce expenses related to hardware and allocate resources to marketing and sales strategies, fostering their growth in the competitive landscape.
The device-as-a-service market is expected to witness significant growth opportunities across various industry verticals, including life science and healthcare, banking and financial institutions, and education. The COVID-19 pandemic has further accelerated digital transformation efforts and remote work practices. As more companies offer work-from-home options, there has been a sharp increase in the demand for laptops, notebooks, tablets, and other hardware devices.
The rising demand for DaaS to manage hardware devices and ensure their availability in remote working environments has been instrumental in driving market growth. SMEs, in particular, are increasingly turning to device-as-a-service solutions to reduce hardware-related expenses and focus on their core business operations.
Furthermore, the market is driven by the growing demand for cost-efficient services and the need for highly secure equipment. Technological advancements, coupled with the increased adoption of connected devices, have created favorable conditions for the device-as-a-service market. Additionally, the widespread penetration of high-speed web networks worldwide has further bolstered market growth prospects.
As the global device as a service market continues to expand, industry players are poised to seize the numerous growth opportunities across various sectors. The future of device-as-a-service looks promising, offering organizations the flexibility, cost-efficiency, and scalability they need to thrive in the evolving digital landscape.
The need for enhancing productivity and the need for security compliance are expected to further drive the market over the forecast period.
Device As A Service Market Report Highlights
- In terms of offering, the service segment is anticipated to register highest growth in the forecast period. The growing number of businesses using software and cloud-based platforms, along with consumer expectations for greater control over the services availed, is contributing to the growth of this segment.
- In terms of enterprise size, the small & medium enterprise segment is expected to attain the highest CAGR in the forecast period. The DaaS model allows SMEs to better utilize their IT infrastructure under tight cash flow conditions. An IT investment can be maximized by converting a substantial upfront capital expense to a more manageable operational expense.
- The IT and telecom segment dominated the market in 2022. The growth can be attributed to the growing awareness about DaaS and the shift in organizations' preference toward the OpEx business model.
- Asia Pacific is anticipated to register highest growth over the forecast period. The emerging feature of 5G networks in the region is also driving the growth of the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $83.38 Billion |
| Forecasted Market Value (USD) by 2030 | $757.17 Billion |
| Compound Annual Growth Rate | 29.1% |
| Regions Covered | Global |
Competitive Landscape
- Accenture PLC
- Acer Inc.
- Apple Inc.
- Atea Global Services Ltd.
- Cisco Systems, Inc.
- Cognizant
- CompuCom Systems, Inc.
- Computacenter plc
- Dell Technologies Inc.
- Intel Corporation
- Hewlett Packard Enterprise Development LP
- Lenovo
For more information about this report visit https://www.researchandmarkets.com/r/7pmhmq
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