Device-as-a-Service Market Analysis Report By Offering, By Device Type, By Organization, By Industry Vertical, By Region And Segment Forecasts From 2021 To 2028

Synopsis

The global device-as-a-service market was appreciated by USD 30.75 billion in 2020. It is projected to observe 37.8% CAGR from 2021 to 2028.

Drivers

The hopeful development projections of the market for Device-as-a-Service can be credited to the increasing demand for a payment form, which can permit clients to change from an investment sourced model to an operating cost supported form and obtain the most recent technology.

The growing implementation of cloud services in emergent nations is likely to impel expansion of the market. Besides, the acceptance of contact sourced services as well as resolutions by small & medium enterprises are likely to support the escalation of the market.

Device-as-a-Servicemakes possible well-timed maintenance and upgrading of the hardware and software, permitting companies to decrease the IT problems. Additionally, the model assists to evade technical obsolescence, eventually increasing efficiency.

Supple formation of Device-as-a-Service presents companies to increase or cut down machine count and connected services.These factors are projected to power the market during the forecast period.

Restraints

On the other hand, the need of technological proficiency plus taking up of CYOD strategy could impede the development of the market for Device-as-a-Service.

Effect of Covid-19

The eruption of Covid-19 pandemic had an optimistic effect on the market. Worldwide, the pandemic considerably altered the work dynamics, forcing the companies to make on priority the acceptance of the cloud source in addition to distant working system, to reduce the increase of Covid-19 disease. The pandemic has moreover promoted the digital alteration actions along with the implementation of numerous technologies, increasing the acceptance of the device-as-a-service form.

Industry Vertical Insight

The market has been additionally subdivided into government and public sector offices, IT & telecommunication, healthcare & life science, Banking, Financial Services and Insurance (BFSI), educational establishments plus others.

The IT & telecommunication sector held more than 24.0% revenue share and led the market in 2020. The IT & telecommunication sector is furthermore estimated to increase by the maximum CAGR, during the forecast period.

The increasing consciousness regarding the Device-as-a-Service form along with its benefits, and change in inclination to the OpEx form in an attempt to decrease asset in IT infrastructure, are the factors, estimated to impel the enlargement of the sector during the forecast period.

Organization Insight

On the basis of organization, the device-as-a-service market has subdivided in to large andsmall & medium enterprises (SMEs). The small & medium enterprise section held the maximummore than 60.0% revenue share, in 2020. The small & medium enterprise section is furthermore expected to develop by the highest, more than 38.0% CAGR, during the forecast period.

Offering Insight

The market is subdivided into service, hardware and software, on the basis of offering. The hardware section held above 40.0% revenue share of the general transaction and led the market in 2020. The hardware section comprises peripherals, desktops, smart phones, laptops, notebooks, and tablets.

The rising curiosity of the enterprises in diverse variety of hardware resolutions for example notebooks, desktops, and laptops mingled in a solo offering is likely to promote the expansion of the market.

The service section is projected to develop by the maximum CAGR, throughout the forecast period. The device-as-a-service form comprises services like maintenance as well as support. It contains a collection of device lifecycle services, together with repair & maintenance, installation, integration & deployment, and asset recovery services, according to the necessity of the customer.

Device Type Insight

The market has been subdivided into laptops, notebook, and tablet, desktop, smart phone and peripheral, based on the device type. The desktop section held above 40.0% revenue share and led the market in 2020.

The smart phone and peripheral section is likely to record the maximum CAGR, during the forecast period. Designed for the smart phones, the Device-as-a-Service resolutions present businesses the benefits of making use of the most recent technologies, enterprise safety and lesser prices of the use.

In the device-as-a-service form peripherals comprise loudspeakers, digital cameras, microphones, tape drives, webcams, image scanners, expansion cards, and graphic cards.

Regional Insight

In 2020, North America held the main 29.0% revenue share of the global device-as-a-service market. North America is one of the initial acceptor of the most recent technologies like IoT and cloud computing, along with the latest service forms like device-as-a-service. Furthermore, the local market is feasible for large enterprises and startups, in the conditions of government policies and regulations. These things are expected to impel the expansion of the market. Increasing demand from telecommunications and IT for the device-as-a-service form and the growing demand for movable apparatuses in a number of industries are, moreover, likely to support the enlargement of the market.

Asia Pacific is projected to develop by the maximum CAGR, during the forecast period. For some of the highest rising economies like China and India, Asia Pacific is the homeland. The existence of a huge labor force, engaged in the IT & Telecommunication business plus a big number of enterprises are likely to increase the demand for the device-as-a-service form.

Besides, the growing alertness regarding Device-as-a-Service, the increasing figure of small & medium-sized enterprises (SMEs), and the existence of a number of retail and life sciences institutes, is the factors, likely to steer the market during the forecast period. The growing infiltration speed of the internet and the augmentation of a number of businesses in the nations like Japan, China and India can, furthermore, push the expansion of the local market.

Companies

As a result of the existence of some large as well as small companies the market for Device-as-a-Service is aggressive. These companies are following a variety of policies like improvement regarding the services; hardware and software along with the new product presentation to further develop, in addition to make stronger their market grip.

Some of the companies for device-as-a-service market are:

• Hewlett Packard
• Dell Technologies
• Cognizant
• Apple Inc.
• Accenture
• Lenovo
• Intel Corporation
• Computacenter
• Cisco
• Acer Inc.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each of the sub-segments from 2018 to 2028. For this study, Million Insights has segmented the global device-as-a-service market report based on offering, device type, organization, industry vertical, and region:

• Offering Outlook (Revenue, USD Billion, 2018 - 2028)
    • Hardware
    • Software
    • Service

• Device Type Outlook (Revenue, USD Billion, 2018 - 2028)
    • Desktop
    • Laptop, Notebook, and Tablet
    • Smartphone and Peripheral

• Organization Outlook (Revenue, USD Billion, 2018 - 2028)
    • Small and Medium Enterprise
    • Large Enterprise

• Industry Vertical Outlook (Revenue, USD Billion, 2018 - 2028)
    • Banking, Financial Services and Insurance (BFSI)
    • Educational Institution
    • Healthcare and Life Science
    • IT & Telecommunication
    • Public Sector and Government Office
    Others

• Regional Outlook (Revenue, USD Billion, 2018 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • Asia Pacific
        • China
        • Japan
        • India
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa