Revolutionizing IT: The Global Device-as-a-Service Market Analysis 2030

Global device-as-a-service market in terms of revenue was estimated to be worth USD 50.3 billion in 2021 and is poised to reach USD 303.6 billion by 2026, growing at a CAGR of 43.2% from 2021 to 2026. The new research study consists of an industry trend analysis of the market.

The rapid adoption of the subscription-based services model is one of the major drivers of the device-as-a-service market. Subscription-based device-as-a-service models help customers to transform the high cost of acquiring new technology from a capital expenditure (CapEx) to an operating expense (OpEx).

Dell Technologies (US), Lenovo (China), Hewlett Packard (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) are device-as-a-service companies operating in the market.

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Services segment for device-as-a-service market to grow at highest CAGR during the forecast period

Device-as-a-service model includes a variety of support and maintenance services. It consists of a collection of device lifecycle services, which include installation, deployment and integration, asset recovery services, and repair and maintenance services as per the end user’s requirements. These services offered are flexible since they can be tailored and optimized. Many OEMs offer direct services as per the contract.

Smartphone & Peripherals for device-as-a-service market to grow at highest CAGR during the forecast period

Device-as-a-service solutions for smartphones offer organizations the benefits of lower costs, access to recent technologies, more predictable prices, and strong enterprise security. The demand for smartphones has been flattening out over the past few years. New paradigms like device-as-a-service, where users pay subscription fees to always have the latest devices are changing things.

IT and Telecommunication end user industry to have the largest market, in terms of size and is also expected to grow at highest CAGR during the forecast period

Access to secure, reliable, and high-performance IT devices are fundamental to operations of the IT and telecommunication industries; thus, the segment generates the most significant demand for IT devices such as desktops, laptops, tablets, notebooks, and smartphones. Moreover, the demand for constant updates of software and related services is more in this industry, thus contributing towards increased demand for device-as-a-service. Device-as-a-service enables timely upgrade and maintenance of hardware and software, allowing companies to reduce IT burdens; moreover, it helps to avoid technological obsolescence, which ultimately enhances productivity.

Device-as-a-service market in North America to account for largest market share during the forecast period

In 2020, North America accounted for the largest share of the device-as-a-service market. High demand for device-as-a-service from the IT and telecommunications end users is one of the major factors leading to the growth of the market in North America. Various IT and telecommunication companies such as AT&T, Microsoft, and Apple, are based in this region. Besides, several companies offering device-as-a-service, including Dell Technologies (US), HP (US), and Microsoft (US), also have a presence in this region, which further adds to the growth of the market in North America.