Market Research Future published a research report on “Device as a Service Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Market Research Future projects a detailed study on the recent trends, various challenges faced, and the segments of the global device as a service market. The study claimed that there would be a striking upsurge at a CAGR of ~54.7% between 2017 and 2023 for the global Device as a Service Market. Apart from this, the market is going to gain a valuation of 66,129.9 million in 2023.
The device as a service (DaaS) is an emerging service model developed for managing hardware devices such as laptops, desktops, personal computers (PCs), tablets or mobile phones, and the software that is required to function in the businesses. The ability of DaaS providers to offer services to customers with a monthly subscription fee. In the present time, the market of the device as a service is in advance with gaining popularity among enterprises to minimize the IT expenses, particularly for IT hardware infrastructure, which is the leading factor for the growth.
Over the years, businesses have undergone quite a few technical advancements, which have led to a boost in the cost of the IT infrastructure. These costs have ultimately surged the capital expenditure (Capex) and operational expenses (Opex) notably. The study also includes that the State of IT Budget 2019 report by Spiceworks, Inc. identified essential factors that increase the IT budgets on infrastructure. With an estimated 64%, North American and European companies have surged their IT budgets to promote the outdated IT infrastructure substantially. All these factors are thus impacting the global Device as a service (DaaS) market to a great extent and will be flourishing through the forecast period.
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Furthermore, owing to the mounting concerns on IT budgets, modern enterprises are inclined towards adopting DaaS solutions, which play a pivotal role in reducing capital and operational expenditure. The adoption of DaaS thus assists enterprises globally with an array of services to manage hardware. Also, with offers value-added expertise via an all-inclusive managed solution, the market is gaining maximum traction that will be added factor behind the growth of the market.
With these factors, the rising call for reducing the capital expenditure and operational expenditure (Opex) by enterprises is yet another factor driving the adoption of DaaS market during the estimated period.
The key players of 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).
Moving further, as per the study, the DaaS market has been segmented by the elements component, deployment mode, organization size, and industry vertical.
- In Terms Of Component: Hardware, solution, and services are the segments. Of which, the hardware segment acquired for the largest market share in 2017, whereas, the services segment might register the highest CAGR of 60.4% through the forecast period.
- In Terms Of Deployment Mode: Cloud and on-premises are the segments. Of these, the cloud segment acquired the larger market share in 2017 and might register the higher CAGR all through the estimated period.
- In Terms Of Organization Size: The small and medium enterprises and large enterprises are the segments. Of which, small and medium enterprise segment acquired the larger market share in 2017, and now it is anticipated to record the higher CAGR of 56.1% all through the assessment period.
- In Terms Of Industry Verticals: IT & telecom, manufacturing, healthcare, BFSI, government, retail, education are the segments. Of which, the IT & Telecom segment acquired the largest market share in 2017, has a market valuation of USD 1,399.0 million. Thus, in the future, this segment might register a CAGR of 57.3% in the forecast period.
Region-wise, the global device as a service (DaaS) market study also spans across the major regions of Europe, North America, Asia-Pacific, and the Middle East & Africa, and South America.
Among these, the North America region is the leading region by market share. The market growth is attributed to the occurrence of many vendors of DaaS offering services to local as well as international clients. The foremost players in this region included are SHI International Corporation, Microsoft Corporation, LP, HP Development Company, and Plantronics, Inc., that work across the region.
The region of Europe was positioned as the third-largest market in the DaaS market in 2017. Europe includes countries as the UK, Germany, France, and the rest of Europe, among which the UK might gain the highest market share along with Germany, France, and the rest of Europe. The factors highly responsible for the market growth are directed towards an augment in the number of connected devices with the mounting adoption of IoT across all verticals. DaaS is speedily being deployed by enterprises in the IT and telecommunication, retail, and BFSI sectors presently in Europe.
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Key questions addressed by the report
- What was the historic market size (2017)?
- Which segmentation (component/deployment mode/organization size/industry vertical) are driving market?
- What will be the growth rate by 2023?
- Who are the key players in this market?
- What are the strategies adopted by key players?
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