Device-as-a-Service Market is Witnessing Significant Growth Over the Past Years

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.

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.

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Top Key Players:
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).

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.

Small and medium-size enterprise to dominate device-as-a-service market, in terms of size during the forecast period

Small and medium-sized enterprises have been adopting the operating expenses (OpEx) business model over capital expenditure (CapEx), which is one of the key factors leading to high adoption of device-as-a-service in small and medium-sized enterprises. Device-as-a-service enables enterprises to prioritize their investments by leasing hardware and associated services instead of purchasing high-cost hardware devices. The device-as-a-service model minimizes costs and increases profits by tracking expenses daily. Small and medium-sized enterprises have low capital; thus, device-as-a-service is the most preferred solution for such organizations with a low IT budget. It also allows users to refresh their hardware at a faster rate, which ultimately helps organizations to enhance productivity, thus leading to an increase in demand.