SAN FRANCISCO, October 6, 2021 / PRNewswire / – The World device as a service market the size is planned to reach $ 475.98 billion by 2028, with a CAGR of 37.8% from 2021 to 2028, according to a new study by Grand View Research, Inc. The growth can be attributed to the growing adoption of the subscription-based service model, which allows organizations to invest in strategic planning instead of purchasing hardware devices that require upgrades every few years. In addition, an increase in the number of start-ups and increasing awareness of the Device as a Service (DaaS) model among small and medium-sized enterprises is expected to drive the market growth. The market is expected to experience growth opportunities in verticals such as life sciences and healthcare, banking and financial institutions, and education.
Main lessons and findings:
- In terms of supply, the hardware segment dominated the market in 2020 with a share of nearly 40%
- In terms of organization, the small and medium business segment is expected to grow at the highest CAGR during the forecast period. Device-as-a-service model works well for small and medium-sized businesses with low capital
- In terms of industry vertical, the Information Technology and Telecommunications segment dominated the market in 2020. The growth can be attributed to the growing awareness of DaaS and the change in preference of organizations towards the model. OpEx commercial.
- North America dominated the market in 2020 due to early and aggressive adoption of the newest and advanced technologies, such as IoT, cloud computing and device as a service solution
Read the 150-page market research report, “Device as a Service Market Size, Share and Trend Analysis Report by Offering, by Device Type (Desktop, Laptop, Notebook & Tablets, Smartphone & Device), By Organization , by Industry Vertical, by Region and Segment Forecast, 2021 – 2028“, by Grand View Research
The COVID-19 pandemic has spurred digital transformation efforts and remote working practices. With a growing number of companies providing employees with work-from-home options, there has been a sudden increase in the need for laptops, laptops, tablets, and other hardware devices. The resulting increase in demand for DaaS to manage hardware devices, so that they are readily available for the remote working environment, has fueled the growth of the market. Demand for the device as a service among small and medium businesses has increased to reduce hardware expenses and focus on marketing and sales strategies.
In addition, the growing demand for cost-effective services and the growing need for highly secure equipment are likely to generate growth opportunities for the market. Advances in technology, increased adoption of connected devices, and high penetration of broadband web networks across the globe are expected to drive the growth prospects of the market. The need to improve productivity and the need for security compliance are expected to further drive the market growth during the forecast period.
Grand View Research has segmented the global device as a service market on the basis of offering, device type, organization, industry, and region:
- Device-as-a-Service Offering Outlook (Revenue, USD Billion, 2018 – 2028)
- Type of Device as a Service Outlook (Revenue, USD Billion, 2018 – 2028)
- Laptop, notebook and tablet
- Smartphone and peripheral
- Device-as-a-Service Organization Outlook (Revenue, USD Billion, 2018 – 2028)
- Small and medium-sized enterprise
- Big business
- Device as a Service Industry Vertical Outlook (Revenue, USD Billion, 2018 – 2028)
- Banking, Financial Services and Insurance (BFSI)
- Educational institution
- Health and Life Sciences
- IT & Telecommunications
- Public Sector and Government Office
- Regional Device-as-a-Service Outlook (Revenue, USD Billion, 2018 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of key players in the Device as a Service Market
- Acer Inc.
- Apple Inc.
- Computer center
- Dell Technologies
- Intel company
- Hewlett Packard
Check out other studies related to cloud technology and its implementation, conducted by Grand View Research:
- Cloud computing market – The size of the global cloud computing market has been estimated at $ 274.79 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 19.1% from 2021 to 2028. The introduction of emerging technologies, such as artificial intelligence (AI) and machine learning, enables growth of the cloud by enabling businesses to leverage AI capabilities.
- Cloud services market – The global cloud services market is expected to experience substantial growth during the forecast period as the technology provides on-demand and convenient access to a shared pool of data, hardware and applications. In addition, the technology also plays a key role in solving resource sharing issues and enables network sharing between remote servers, which is expected to fuel market demand.
- Systems Integration Market – The size of the global systems integration market was $ 278.0 billion in 2018 and is expected to increase at a CAGR of 11.7% during the forecast period. System integration is an ecosystem in which; several systems are connected on a common platform, which facilitates the availability of real-time data.
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About Grand View Search
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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