Device-as-a-Service Global Market Report 2024

The device-as-a-service market size has grown exponentially in recent years. It will grow from $117.34 billion in 2023 to $155.43 billion in 2024 at a compound annual growth rate (CAGR) of 32.5%. The expansion observed in the historical period can be ascribed to enterprise digital transformation, the pursuit of cost-efficiency and predictable expenses, emphasis on core competencies, the adoption of flexible work environments, and the management of end-of-life devices.

The device-as-a-service market size is expected to see exponential growth in the next few years. It will grow to $480.3 billion in 2028 at a compound annual growth rate (CAGR) of 32.6%. The anticipated growth in the forecast period can be credited to an emphasis on sustainability, heightened constraints on IT budgets, regulations concerning data security and privacy, the evolution of business models, and the expansion of edge computing. Key trends expected in the forecast period encompass the adoption of subscription-based models, comprehensive end-to-end device management, customization and scalability, utilization of data analytics and insights, fostering collaborations and partnerships, and the implementation of remote monitoring and maintenance.

The growing adoption of the subscription-based service model is poised to drive the expansion of the device-as-a-service market. This business model involves customers paying a recurring fee or subscription price to access and utilize a service for a specified period. Device-as-a-service, a widely utilized subscription-based service model, furnishes businesses with a comprehensive solution for accessing and managing their device infrastructure. Customers pay a recurring fee to access and utilize a variety of devices provided by a service provider. This approach is chosen for its advantages in terms of cost efficiency, scalability, simplified device management, and consistent payments. As of July 2022, reports from eLabs Inc., a Canada-based software company, indicated that 53% of total software income was generated from subscription models, with 78% of industries worldwide utilizing subscription services. Moreover, the subscription economy is expected to reach $1.3 trillion in the upcoming decade. Thus, the increasing adoption of subscription-based service models is steering the growth of the device-as-a-service market.

The rising trend of remote work is anticipated to contribute to the growth of the device-as-a-service market in the foreseeable future. Remote work, also known as telecommuting or telework, involves performing work activities and tasks outside the traditional office setting. Device-as-a-Service enhances the remote work experience by addressing the specific challenges of managing a dispersed workforce and ensuring that employees have the tools and support necessary for productivity and security. For instance, as of March 2023, according to GoRemotely, a US-based staffing and recruiting firm, approximately 2.7 million healthcare professionals, or 17% of the 16 million in the industry, had jobs that allowed them to work from home. Other sectors with a notable share of remote workers include education (9%), retail (8%), and manufacturing (7%). Thus, the increasing trend of remote work is propelling the device-as-a-service market.

Advanced technologies represent key trends gaining traction in the device-as-a-service market. Major companies within this market are actively developing innovative technologies to maintain their competitive positions. For instance, in January 2023, Social Mobile, a US-based enterprise mobility solution provider, introduced Social Mobile ONE, a novel device-as-a-service (DaaS) offering. This cutting-edge technology is crafted to assist businesses of all sizes in acquiring the necessary devices without concerns about upfront costs or ongoing maintenance. It encompasses enterprise-grade hardware, device management software, managed mobility services, and cellular connectivity. This cost-effective and easily manageable solution enables companies to bypass the high initial expenses associated with purchasing and managing mobile devices, while also benefiting from Social Mobile's expertise in mobile security and management.

Major companies in the device-as-a-service market are opting for a strategic partnership approach to enhance the distribution of their services. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits. For example, in April 2021, Printix.net ApS, a Denmark-based cloud print management software company, announced a distribution agreement with SYNNEX Corporation, a US-based provider of systems design, distribution, and integration services. Under this agreement, SYNNEX now offers the Printix Cloud Print Management solution, a comprehensive service enabling enterprises to manage and control print infrastructure, along with supporting current printing features from any device to any printer. The distribution agreement positions SYNNEX as one of the authorized Printix distributors in the IT medium. Printix will be available through SYNNEX Stellr Connect, a network of SYNNEX reseller partners, solution suppliers, system integrators, and value-added resellers (VARs) focused on promoting cloud and mobility-based solutions across various sectors.

In August 2022, HP Inc., a US-based technological and electronics company, completed the acquisition of Poly for an undisclosed amount. This strategic move aligns with HP's goals of building a more growth-oriented portfolio, enhancing industry potential in hybrid work solutions, and positioning the combined company for long-term sustainable growth and value creation. The acquisition of Poly supports HP in driving innovation and scalability in its core growth areas of peripherals and workforce solutions. Poly, a US-based company, specializes in offering workplace collaboration solutions.

Major companies operating in the device-as-a-service market report are Apple Inc., Acer Inc., Samsung, Microsoft Corporation, Dell Inc., Lenovo Group Limited, Intel Corporation, SYNNEX Corporation, Accenture PLC, Cisco Systems Inc., Hewlett Packard Development Company L.P., Capgemini, Cognizant, DXC Technology, Vmware Inc., Swisscom AG, Telia Company AB, Computacenter plc., Atea Global Services Ltd., Citrix Systems Inc., CompuCom Systems Inc., Yorktel, EMPIST, Portsmouth Computer Group, Sunstate Technology Group, Trust Technology Solutions, Insight Enterprises Inc.

North America was the largest region in the device-as-a-service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the device-as-a-service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the device-as-a-service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary devices included in Device as a Service encompass desktops, laptops, notebooks, tablets, smartphones, and peripherals. Desktops are personal computers designed for use on a desk or in a fixed location, typically comprising a separate computer tower or central processing unit (CPU) and a distinct monitor. This service provides a holistic package, incorporating hardware, software, and services, catering to both small and medium enterprises as well as large enterprises. DaaS finds application across various industry verticals, including banking, financial services, and insurance (BFSI), educational institutions, healthcare and life sciences, IT and telecommunications, public sector and government offices, among others.

The device-as-a-service market research report is one of a series of new reports that provides device-as-a-service market statistics, including device-as-a-service industry global market size, regional shares, competitors with a device-as-a-service market share, detailed device-as-a-service market segments, market trends and opportunities, and any further data you may need to thrive in the device-as-a-service industry. This device-as-a-service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The device-as-a-service market consists of revenues earned by entities by providing device-as-a-service services such as device procurement, device deployment, device maintenance and updates, device repairs and replacements, and data security and protection services. The market value includes the value of related goods sold by the service provider or included within the service offering. The device-as-a-service market also includes sales of printers and multifunction devices, networking equipment, monitors and displays, specialty devices, and accessories which are used in providing device-as-a-service services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.