Device-as-a-service market report share is expected to grow from USD 50.3 billion in 2021 to USD 303.6 billion by 2026; it is expected to grow at a CAGR of 43.2% during the forecast period.
Device-as-a-Service (DaaS) is a brand-new service model that offers companies a complete answer to their technological requirements. It comprises renting out equipment and gadgets like laptops, desktop computers, and mobile phones as well as providing maintenance, support, and software management services. The market for DaaS has expanded quickly as a result of the rising demand for adaptable and affordable IT solutions.
In the conventional business model, businesses buy hardware and software, make maintenance and support investments, and upgrade their machinery on a regular basis. DaaS, however, has made it possible for companies to use cutting-edge technology without incurring significant upfront fees. This service model is especially advantageous for small and medium-sized firms (SMEs) that may not have the resources to invest in the latest technology.
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DaaS also provides businesses with access to cutting-edge technology without necessitating frequent upgrades, which is a plus. The devices must be managed and maintained by DaaS providers in order to stay current and operate efficiently. This frees up enterprises from having to worry about maintaining their IT infrastructure so they can concentrate on their core businesses.
The market for devices as a service is anticipated to expand dramatically over the next few years as organisations hunt for more flexible and affordable IT solutions. Device type, deployment model, organisation size, and geographic location are used to segment the market. Tablets, smartphones, laptops, and desktop computers are among the common DaaS devices. On-premises and cloud-based solutions are both included in the deployment models. Both small and large businesses are included in the category of organisations by size.
The DaaS market is anticipated to be dominated by North America, followed by Europe and Asia Pacific.
The expansion of the DaaS market in North America is anticipated to be fueled by the growing acceptance of cloud-based solutions and the demand for adaptable IT solutions. The desire for scalable and affordable IT solutions in Europe is anticipated to fuel the expansion of the DaaS market there. The region's DaaS market is anticipated to develop due to the increasing acceptance of cloud-based solutions and the demand for affordable IT solutions in Asia Pacific.
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