Device-As-A-Service Market
What combination of drivers is leading to accelerated growth in the device-as-a-service market?
The device-as-a-service market is anticipated to flourish with the increasing inclination towards subscription-based service models. This business model requires customers to make routine payments or fees to enjoy a service for a certain timeframe. Particularly, device-as-a-service, a preferred subscription-based service model, offers businesses an all-inclusive solution for accessing and managing their device infrastructure. Customers only need to make a regular fee in order to use a variety of devices offered by the service provider. The model is adopted for its cost-effectiveness, scalability, effortless device supervision, and consistent payments. For example, data from eLabs Inc., a software company based in Canada, showed that by July 2022, 53% of all software revenue came from subscription models in 2022, and 78% of distinct industries worldwide utilized subscription services. In addition, it’s projected that the subscription economy will touch the mark of $1.3 trillion in the following decade. As a result, the soaring acceptance of subscription-based service models is positively impacting the growth of the device-as-a-service market.
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What is the projected compound annual growth rate (CAGR) of the device-as-a-service market from 2025 to 2034, and what factors influence it?
The market size for device-as-a-service has witnessed an exponential growth in the previous years. It is projected to expand from $152.54 billion in 2024 to $200.37 billion in 2025, with a compound annual growth rate (CAGR) of 31.3%. The growth during the historical period is credited to factors such as digital transformation within enterprises, cost-effectiveness, predictable costs, core competency emphasis, adaptable working surroundings, and end-of-life device administration.
The market size for device-as-a-service is predicted to experience incredible growth in the coming years. The expected projection indicates that it will expand to $653.19 billion by 2029, with a compound annual growth rate (CAGR) of 34.4%. This growth during the forecasted period has been linked to a range of factors including a focus on sustainability, increased financial restrictions, stringent data security, and privacy norms, the evolution of business models, and the development of edge computing. Key trends to be observed during the forecast period comprise subscription-based models, comprehensive device management, customizability and scalability, data analytics and gleaned insights, collaborations and strategic partnerships, as well as remote monitoring and maintenance.
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What new trends are reshaping the device-as-a-service market and its opportunities?
Cutting-edge technologies are becoming increasingly important in the device-as-a-service sector. Major players in this market are leveraging innovation to maintain their market dominance. As an example, in January 2023, Social Mobile, a firm specializing in enterprise mobility solutions in the US, introduced a new device-as-a-service solution known as Social Mobile ONE. This novel technology is geared towards enabling businesses of various scales to acquire the necessary devices without the anxieties of initial expenses or continuous supervision. Furthermore, it comprises enterprise-class hardware, device administration software, overseen mobility services, and cellular connectivity. It’s also a cost-effective, simple-to-administer resolution for businesses of any size. Companies can utilise this technology to avoid the steep upfront expenses associated with purchasing and supervising mobile devices. Additionally, they can gain from Social Mobile’s proficiency in mobile security and management.
What are the major segments of the device-as-a-service market and their role in driving growth?
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
Subsegments:
1) By Desktops: All-In-One Desktops, Traditional Desktops
2) By Laptops: Business Laptops, Gaming Laptops, Ultrabooks
3) By Notebooks: Standard Notebooks, 2-In-1 Notebooks
4) By Tablets: Standard Tablets, Rugged Tablets
5) By Smartphones And Peripherals: High-End Smartphones, Mid-Range Smartphones, Budget Smartphones, Printers, Monitors, Keyboards And Mice, Docking Stations
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Which regions are key players in the growth of the device-as-a-service market?
North America was the largest region in the device-as-a-service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the device-as-a-service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the device-as-a-service market?
Major companies operating in the device-as-a-service market include Apple Inc., Acer Inc., Samsung, Microsoft Corporation, Dell Inc., Lenovo Group Limited, Intel Corporation, SYNNEX Corporation, accenture* 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.
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What Is Covered In The Device-As-A-Service Global Market Report?
• Market Size Forecast: Examine the device-as-a-service market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the device-as-a-service market for a structured understanding.
• Key Players Overview: Analyze major players in the device-as-a-service market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the device-as-a-service market.
• Segment Contributions: Evaluate how different segments drive overall growth in the device-as-a-service market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the device-as-a-service market.
• Industry Challenges: Identify potential risks and obstacles affecting the device-as-a-service market.
• Competitive Landscape: Review strategic developments in the device-as-a-service market, including expansions, agreements, and new product launches.
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