The Device-as-a-Service Market is expected to grow to USD 303.6 billion
by 2026 from USD 50.3 billion in 2021; at a CAGR of 43.2% during the
forecast period.
The device-as-a-service market has been
witnessing significant growth over the past years, mainly owing to the
rising demand for subscription-based models that help customers to
convert the high cost of acquiring new technology from a capital
expenditure (CapEx) to an operating expense (OpEx) and the ability to
use the latest technologies and access customized services, including
device configuration, installation, data migration, on-site support, and
technology recycling, increasing demand.
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Hewlett Packard (US), Lenovo (China), Dell Technologies (US), Microsoft (US), Cisco (US), CompuCom(US), 3stepIT (Finland), Telia Company (Sweden), Atea Global Services (Latvia), CHG MERIDIAN (Germany), CSi leasing (US), Computacenter (UK), Econocom (France), GreenFlex (France), GRENKE (Germany), Excellence IT (UK), Foxway (Sweden), and Apple (US) among others .
North America accounted for the largest size of the device-as-a-service market. North America has always been at the forefront in adopting new and innovative technologies, such as device-as-a-service solutions. The market in this region provides a suitable environment, in terms of government regulations and compliance, for startups and small and medium-sized enterprises. IT and telecommunication, healthcare, and banking, financial service, and insurance (BFSI) are some of the major end users in the region.
The smartphones and peripherals segment is expected to grow at the highest CAGR during the forecast period. IT executives are reluctant to deliver controls of departmental assets unless pressurized to do so. In an office workstation, younger employees prefer the use of mobile devices. Moreover, most employees collaborate with each other through their smartphones.
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