Device as a Service (DaaS) Market Outlook and Opportunities in Grooming Regions with Forecast 2032

MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Device as a Service (DaaS) Market.

Global Device as a Service Market is projected to grow at a CAGR of 25.64% during the forecast period: MRFR.

The Device as a Service market is predicted to reach USD 909.8 billion by 2032, registering a 25.64% CAGR during the forecast period, 2024–2032. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years. By implementing DaaS, security concerns can also be addressed. Corporate data that is vulnerable is housed in a secure data center - or multiple ones - rather than on the devices themselves. Security is also a priority for DaaS providers, who often offer two-factor authentication. Data will be encrypted before being distributed over the network.

Through DaaS, performance concerns can also be addressed since providers use several geographically isolated data centers, so end users can shift locations without experiencing unfavorable effects from network latency. Additionally, DaaS providers use predefined desktop deployment and management technologies that enable IT departments to quickly onboard new employees and contractors. Moreover, businesses don't have to worry about device management, only about supervising the virtual desktops.

The benefits of migrating to virtual desktops are far too numerous to ignore, including those associated with project management, and new options are being found to ease the transition. By utilizing DaaS, virtual desktops, along with their applications and infrastructure, can be moved to the cloud. An increasing number of industry experts are backing DaaS. Hence the increasing need for implementing DaaS to Address Bring Your Own Device (BYOD) is driving the growth of the market.

Segmental Analysis

The scope of the global Device as a Service market has been segmented based on component, organization size, industry verticals and region.

Based on the component, the global Device as a Service market is segmented into hardware, solution and services. The hardware segment accounted for the largest market share in the device-as-a-service market. The segment has been further segmented into smartphones/tablets, desktops, laptops, and others. The DaaS market, though it is still at an early stage, exhibits similar growth patterns as PC as a service. It covers all hardware required by enterprises for their work processes, while PC as a service covers just the software.

Based on Organization size, the global Device as a Service market is segmented into SME’s and Large Enterprises. The SME’s segment will experience the highest CAGR. As SMEs are likely to outsource IT services and reduce their overall capital and operational expenditure. Thus, the small and medium enterprise segment is projected to grow significantly in the DaaS market during the forecast period.

Based on Industry Verticals, the global Device as a Service market is segmented into BFSI, healthcare, manufacturing, retail, IT & telecommunication, education, government, and others. The IT and telecom segment accounted for the largest market share in the DaaS market. Rapid technological advancements, increasing investment in the development of telecom networks, expansion of 4G & 5G networks, and the growth of cloud infrastructure have all contributed to the market's growth.

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Regional Analysis

Geographically, the global Device as a Service market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

North America accounted for the largest market share in 2021. The enterprises in the country have been the earliest adopters of DaaS witnessing rapid deployment across verticals such as IT & telecommunication, BFSI, and healthcare which is expected to boost the market growth in the US. The key players such as HP Development Company, L.P., Microsoft Corporation, Citrix Systems, Inc., Amazon Web Services, Inc., SHI International Corporation, Plantronics, Inc., and CompuCom Systems, Inc. (Office Depot, Inc) are based in the US and are investing heavily in the development of DaaS. The adoption of IoT technology is at its peak in the US which can be a major opportunity for the DaaS vendors in this country.

The Asia-Pacific region is anticipated to have the highest CAGR XX% during the projection period. Owing to the various industry leaders are investing heavily in the Chinese market. For instance, Bosch and Huawei formed a partnership to accelerate the development of the IoT in China. Also, Microsoft Corporation introduced new capabilities for its Azure public cloud computing services targeting IoT in China. With the increasing number of connected devices, the device as a service market seems to be lucrative for the vendors as they offer solutions to establish themselves in the IoT as a Service (IoTaaS) market.

Key Players

The key players in the global Device as a Service 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) and other.