Market Research Future published a research report on “Device as a Service Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The global Device as a Service market is expected to register a market revenue valuation of USD 66,129.9 million by 2023, as suggested by research experts at Market Research Future (MRFR), in their latest analysis. The global Device as a Service market is likely to expand at a staggering CAGR of 54.7% during the forecast period. The adoption of contract-based services and solutions by small and medium enterprises is one of the primary factors contributing to the ascension of the Device as a Service market. The DaaS model is developed specifically for small and medium enterprises as these organizations face many challenges to cope with the additional costs associated with IT support and maintenance services.
Furthermore, the Device as a Service is a subscription-based model where vendors are expected to offer their hardware devices on lease and manage all types of support services such as device management, deployment, and support services. This has led to many small and medium enterprises to take advantage of different positive features such as lower operational costs, flexibility, and eliminates the requirement for IT personnel. Apart from that, it also enables enterprises to focus on their business objectives, than hardware devices. DaaS also allows SMEs to adopt products with the latest technologies and keep upgrading their capabilities, attain greater stability, and visibility on IT costs for management and maintain devices such as tablets and personal computers.
Moreover, the Device as a Service model has offered numerous benefits to small and medium enterprises. As with the all subscription-based services, the DaaS model enables organizations to purchase hardware devices like laptops, devices, and/mobile devices as per their requirement basis and a change in the subscription plans according to the number of devices. This aids enterprises in simpler lifecycle management and easier updation of their devices with latest technological capabilities.
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The key players of the global DaaS market are HP Development Company, L.P (US), Microsoft Corporation (US), Dell Inc. (US), Amazon Web Services Inc. (US), Lenovo (Hong Kong), Citrix Systems, Inc. (US), Plantronics, Inc. (US), CompuCom Systems, Inc., (US), Capgemini (France), and SHI International Corp. (US).
The global Device as a Service market has been studied for the segmentation that is based on component, deployment mode, organization size, vertical, and region. Based on component, the global Device as a Service market is segmented into hardware, services, and solutions. The hardware segment held the largest share of the DaaS market, being valued at USD 3,325.8 million at the beginning of the forecast period. It is also expected to dominate the global Device as a Service market over the assessment period. The services segment is estimated to showcase a significant CAGR over the assessment period as it provides customized solutions, maintenance, and other supporting services for the hardware devices. Further, owing to its nascent stage, companies are also offering these services through their in-house development team and/ or channel partners and value-added resellers.
Based on deployment, the global DaaS market is segmented into on-cloud and on-premise. The cloud segment is estimated to witness 52% CAGR over the forecast period as it works on a subscription basis. Based on organization size, the global Device as a Service market is segmented into small & medium enterprises, and large enterprises. The small and medium enterprise segment accounted for the larger share in the base year and is expected to register a stellar CAGR of 56.1% during the forecast period.
The global Device as a Service market is segmented into Asia Pacific, North America, Europe, and the Middle East & Africa, and South America. North America is leading the global Device as a Service market over the forecast period owing to the presence of DaaS vendors which offer their services to local and international clients.
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