Global Device as a Service Market

Device as a Service Market Size, Share, Growth Analysis, By Type(Hardware Testing and Security Testing), By Region - Industry Forecast 2025-2032


Report ID: SQMIG45B2058 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 34 | Figures: 74

Device as a Service Market Dynamics

Drivers

High Demand for Flexible IT Solutions 

  • High demand for flexible and scalable IT solutions across various industries is projected to primarily drive up the demand for devices as a service going forward. Device-as-a-Service offers a subscription-based model where hardware, software, and maintenance services are bundled into one. This allows companies to adjust their device requirements accordingly without incurring more costs than needed.  

Rise of Remote Work 

  • The number of remote workers around the world is increasing rapidly and thereby also driving up the demand for devices that can be managed remotely. DaaS providers offer comprehensive device management, ensuring employees have reliable, up-to-date equipment wherever they work. This allows organizations to streamline their workflow without having to deal with the logistical hassle of providing and shipping devices to their employees.   

Restraints 

Reliance on Service Providers 

  • Organizations opting for device as a service are highly dependent on service providers for hardware quality, maintenance, and security updates. Disruptions to an organization’s workflow due to these factors and high dependency may cause hesitance among companies to opt for device as a service thereby impeding device as a service market growth as well.  

Limited Customization and Flexibility 

  • Most device as a service companies provide standard hardware and services that are sufficient for most organization’s normal needs. However, organizations that require specialized and custom hardware may face challenges when opting for a device as a service. This lack of customization and flexibility is expected to influence the adoption of the device as a service in industries focused on advanced design, engineering, or media production.
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FAQs

Global Device as a Service Market size was valued at USD 83.6 billion in 2022 and is poised to grow from USD 107.93 billion in 2023 to USD 832.80 billion by 2031, growing at a CAGR of 29.1% during the forecast period (2024-2031).

Device as a service provider should focus on developing a standardized set of rules to ensure maximum compatibility. Developing affordable devices as a service solution for small and medium enterprises will also pay off big time for market players in the future. Collaborations and partnerships will also be essential strategies for devices as service providers are looking to maximize their business scope in the long run.  'HP Inc. (United States)', 'Dell Technologies Inc. (United States)', 'Lenovo Group Limited (China)', 'Microsoft Corporation (United States)', 'Apple Inc. (United States)', 'Cisco Systems, Inc. (United States)', 'Google LLC (United States)', 'Amazon.com, Inc. (United States)', 'Fujitsu Limited (Japan)', 'Acer Inc. (Taiwan)', 'Toshiba Corporation (Japan)', 'ASUS Computer International (Taiwan)', 'Samsung Electronics Co., Ltd. (South Korea)', 'Huawei Technologies Co., Ltd. (China)', 'Sony Corporation (Japan)', 'LG Electronics Inc. (South Korea)', 'Panasonic Corporation (Japan)', 'NEC Corporation (Japan)', 'Sharp Corporation (Japan)', 'Hitachi, Ltd. (Japan)'

High demand for flexible and scalable IT solutions across various industries is projected to primarily drive up the demand for devices as a service going forward. Device-as-a-Service offers a subscription-based model where hardware, software, and maintenance services are bundled into one. This allows companies to adjust their device requirements accordingly without incurring more costs than needed.  

Use in Small and Medium Enterprises: Device as a service model is highly popular in large organizations but is now gaining traction among small and medium enterprises as well. Increasing affordability and low-maintenance approach of device as a service offering are creating new opportunities for device as a service providers in small and medium enterprise settings across the study period and beyond.  

North America is estimated to account for a substantial share of the global device as a service market. Rapid adoption of advanced technologies, growing emphasis on improving operational efficiency, and presence of key device as a service providers are key factors aiding the dominance of this region. Increasing efforts of organizations to simplify their IT infrastructure and rising use of advanced technologies are also expected to benefit devices as a service demand outlook in the future. Canada and the United States are estimated to emerge as the most rewarding markets for device as a service companies operating in this region going forward.  

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Global Device as a Service Market

Report ID: SQMIG45B2058

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