Industry Insight

The global device as a service (DaaS) market 2020 remains on target to expand its worth to 66,129.9 million by 2023. These figures are measured in the study conducted by Market Research Future, which further finds that the market would take up at a CAGR of ~54.7%. The growth period of the market is estimated to be from 2017—2023.

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Market Segmentation

The device as a service market has been further segmented over segments of deployment mode, component, industry vertical, and organization size.

In terms of component segment, the DaaS market has included solutions, hardware, and services. The hardware segment that acquired the largest market share in the 2017 and services segment will register the highest CAGR of 60.4% during the forecast period.

In terms of deployment mode, the market has included cloud and on-premises. The cloud segment acquired a larger market share in the year 2017, and it is now likely to register the higher CAGR during the forecast period.

In terms of organization size, the market includes small and medium enterprises and large enterprises. The small and medium enterprise segment acquired the larger market share in 2017 and is now expected to register a higher CAGR of 56.1% during the forecast period.

In terms of industry verticals, the DaaS market has included BFSI, IT & telecom, retail, healthcare, education, government, manufacturing, and others. The IT & Telecom segment acquired the largest market share in the year 2017, with a market value of USD 1,399.0 million; it is likely to record a CAGR of 57.3% during the forecast period. The BFSI segment was the second-largest market in the year 2017; it is projected to register the highest CAGR of 59.0%.

Top Impacting Factors

The leading factor likely to drive the growth of the device as a service market is the rapid adoption of the subscription-based services model. This model for the device as service permits the clients to shift the high cost of acquiring new technology from a capital expenditure to an effective expense. This would result in the companies to free the cash for investment in strategic initiatives, which would lead to high revenue generation in the coming years, especially posy COVID 19 impact.

The other driver for the device as a service market comes in terms of reduction in policy compliance, help desk volume, and increased end-user productivity, which is noted to be the benefits, a company gets by outsourcing services on multiple devices that come with numerous operating systems in the device as a service market. With this, the organizations tend to adopt device as a service to get the latest technology for utilizing and to get access to customized services, which go hand-in-hand, such as data migration, installation, on-site support, device configuration, technology recycling and more.

MRFR also finds that enterprises have undergone several technical advancements over the years, which have led to a boost in the IT infrastructure's costs. These costs have ultimately surged the capital expenditure (Capex) and operational expenses (Opex) drastically. The State of IT Budget 2019 report created by Spiceworks, Inc., identified factors that swell the IT budgets on infrastructure. It estimated that 64% of North American and European companies had amplified their IT budgets to upgrade the outdated IT infrastructure. All these factors have emerged as prime reasons driving the device as a service (DaaS) market to a great extent.

Regional Analysis

Geographically, the global device as a service (DaaS) market, has been studied among the key regions of Europe, North America, Asia-Pacific, and the Middle East & Africa, and South America.

North America is the leading region with a high market share in the DaaS market. Market growth is attributed to the incidence of many DaaS vendors that offer local and international clients services. The leading players in the region are LP, Microsoft Corporation, HP Development Company, Plantronics, Inc., and SHI International Corporation that operate across the region.

Europe was the third-largest market in the DaaS market in the year 2017. Europe has been segmented into Germany, the UK, France, and the rest of Europe. As per the MRFR analysis, the UK is likely to gain the highest market share, followed by Germany, France, and the rest of Europe. Some factors responsible for market growth include a boost in the number of connected devices with the increasing adoption of IoT across all verticals. In fact, DaaS is rapidly being deployed by enterprises in the retail, IT and telecommunication, and BFSI verticals at present in Europe.

Top Companies

The top players of the global DaaS market are listed as L.P (US), HP Development Company, Dell Inc. (US), Microsoft Corporation (US), Lenovo (Hong Kong), Amazon Web Services Inc. (US), Plantronics, Inc. (US), Citrix Systems, Inc. (US), Capgemini (France), and SHI International Corp. (US).

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