DUBLIN--(BUSINESS WIRE)--The "Global Device as a Service Market Research Report: Forecast (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
According to the report, the market is likely to grow at a CAGR of around 56% during 2021-2026.
The market growth attributes to the boost in the start-up ecosystem and progressively rising demand for DaaS services from mid-size firms. Besides, the demand for Device as a Service is also surging rapidly among various educational institutes, healthcare organizations, and government offices. Moreover, the periodic technology upgrades remain the prime factor resulting in greater consumer acceptance of Device as a Service (DaaS) across the globe.
Increasing Adoption of the Subscription-based Services
The subscription-based services help reduce the cost of acquiring new devices and technologies, which further helps in shifting capital expenditure to an operating one. Through subscription-based services, many organizations can invest their money in strategic planning that can drive their revenue. Hence, the subscription-based services model is likely to witness rapid adoption in the forthcoming timeframe.
Lack of Awareness About Device-as-a-Service Model
The primary factor likely to hamper the growth of the Global Device as a Service (DaaS) Market is the lack of awareness regarding the benefits offered by the device-as-a-service model, including cost efficiency and data security. India, China, and Indonesia are among a few emerging countries witnessing a lack of awareness and less adoption of the Device-as-a-Service Model, thereby hindering the overall market growth.
Impact of COVID-19 Positively Impacted the Market
The unexpected outbreak of the COVID-19 pandemic has led to aid the trend of several technologies, digital transformation, and work-from-home practice. In the IT marketplace, the Device-as-a-Service (DaaS) model has witnessed positive growth due to the rapid inclination of people toward remote working.
Moreover, the rising need for pre-configured hardware, including desktops, laptops, & smartphones, and customized software, by the organizations during the pandemic resulted in accelerating the overall demand for Device-as-a-Service (DaaS) model.
Services Segment Accounted for the Largest Market Share
Based on the Type, the market bifurcates into Hardware, Software, and Services. Among these, Services acquired the largest market share in the Global Device as a Service (DaaS) Market in the previous few years. The deployment and maintenance services, including remote and onsite installation, data security and migration, data storage, etc., have contributed majorly to the revenues generated from the services segment.
Nevertheless, the revenue generated from the software segment is likely to exceed due to the rising requirement for diverse business software along with data security software. Also, periodic upgrades required in the software to match the evolving business needs are catalyzing revenue generation.
Telephones Attained the Highest Market Share
Based on the Type, the market divides into Hardware, Software, and Services. The Hardware segment further bifurcates into Desktop, Laptop, Tablets, and Telephones. Among these segments, Telephones captured a significant share in the Global Device as a Service (DaaS) Market in the past few years.
The Device-as-a-service solutions for telephones offer various benefits to the organizations, such as lower costs, more predictable prices, strong enterprise security, and access to recent technologies, thereby leading to augment the segment growth.
North America Region Dominated the Market
Geographically, North America held the largest share in the Global Device as a Service (DaaS) Market in the previous few years due to the rapid adoption of advanced technologies and burgeoning demand for device-as-a-service (DaaS) in the IT and telecommunications industry.
Besides, the presence of a large number of leading market players, such as Dell Technologies (US), HP (US), and Microsoft (US), in the region also fuels the market growth.
Competitive Landscape
The leading players in the global Device as a Service (DaaS) market are Lenovo, Hewlett Packard, CompuCom, Citrix, Dell Technologies, Microsoft Corporation, Amazon Web Services, HCL, and Cloudalize.
Key Questions Answered
1. What are the overall market statistics or estimates (Market Overview, Market Size - by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global Device as a Service (DaaS) Market?
2. What are the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Device as a Service (DaaS) Market?
4. Who are the key competitors, their key strengths & weaknesses, and how they perform in the Global Device as a Service (DaaS) Market based on a competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Device as a Service (DaaS) Market study?
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