Global Device As A Service (Daas) Market Grows At A Staggering CAGR Of 39.40%

(MENAFN- Straits Research) DaaS enables timely upgrade and maintenance of software and hardware, allowing businesses to reduce their I.T. burden; additionally, the model prevents technological obsolescence, thereby boosting productivity. The flexible structure of device-as-a-service enables enterprises to scale up or down the number of devices and associated services. In addition, the rapid adoption of the subscription model, increased policy compliance, increased user productivity, decreased help desk expenses, and the rising demand for cost-effective and secure devices have accelerated the market growth. It is anticipated that the expansion of the startup ecosystem will increase demand for the DaaS model. However, lacking technical expertise and adopting Choose-Your-Own-Device policies may impede market expansion.
Market Dynamics
Rapid Adoption Of The Subscription-Based Services Model Drives The Global Market
The rapid adoption of subscription-based services drives the device-as-a-service market. Subscription-based device-as-a-service models help customers turn high technology costs into operating expenses (OpEx). Small, medium-sized, and large businesses can set aside money for tactical initiatives to increase revenue. Other benefits include policy compliance, access to the latest technologies, device configuration, installation, data migration, on-site support, and technology recycling. As a subscription service, device-as-a-service allows an organization to scale up or down based on the operating environment and business needs. Organizations can pay for what they need when they need it; these advantages of DaaS can give rise to the market.
Introduction Of The Wearable-As-a-Service (Waas) Model Creates Tremendous Opportunities
Smartwatches, V.R. headsets, A.R. glasses, and medical patches are popular among end-users, including businesses. These companies take advantage of wearables' data, interoperability, and mobility. Several businesses have started producing wearable technology (WaaS) to market wearables. Arkéa, a French bank, and insurer, recently introduced its WaaS model, letting end-users or institutions rent wearable devices. No initial purchase of wearable devices is required, removing a potential sales barrier. Some manufacturers are developing smartwatches for recreational athletes, children, and the elderly. Government offices, healthcare organizations, insurance companies, and families use wearable technology to manage elderly care. The emergence of WaaS can give the device as a service (DaaS) market an ample opportunity.
Regional Analysis
Asia-Pacific is anticipated to grow at the fastest rate during the forecast period. Asia-Pacific is home to some of the most rapidly expanding economies, including India and China. In addition, numerous life sciences and retail organizations, the increase in small and medium-sized businesses, and the growing awareness of DaaS are anticipated to drive the market over the forecast period. Increasing internet penetration and the unabated growth of multiple industries in countries like China, India, and Japan could also bode well for expanding the regional market.
Competitive Analysis
The global Device as a Service (DaaS) market's major key players are

Microsoft
Apple Inc.
Dell Inc.
Capgemini
Amazon Web Services Inc.
P. Development Company L.P.
CompuCom Systems Inc.
Yorktel
Citrix Systems Inc.
Acer Inc.
Plantronics Inc.
SHI International Corp.
Intel Corporation (U.S.)
Lenovo (China)
Scantron Corporation (U.S.)
Accenture
Cisco
Cognizant
Computacenter

Market News

May 2022: Capgemini positioned as a leader in the IDC market scape worldwide cloud professional services vendor assessment
18 May 2022: AWS, Ingram Micro to Expand Public Sector Offerings for Partners. Amazon Web Services and Ingram Micro have expanded their multi-year strategic collaboration agreement to provide initiatives and joint investments for public sector organizations worldwide to thousands of channel partners.

Market Segmentation
By Offering

Hardware
Software
Service

By Device Type

Desktop
Laptop, Notebook, and Tablet
Smartphone and Peripheral

By Organization

Small and Medium Enterprise
Large Enterprise

By Industry Vertical

Banking, Financial Services, and Insurance (BFSI)
Educational Institution
Healthcare and Life Science
IT & Telecommunication
Public Sector and Government Office

By Regions

North America
Europe
Asia-Pacific
LAMEA

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