Device as a service market to be worth $303 billion by 2026
The market has experienced significant growth due to rising demand for subscription-based models
The device as a service (DaaS) market has been tipped to grow from $50.3 billion in 2021 to $303.6 billion in 2026, at a compound annual growth rate (CAGR) of 43.2%.
According to research from ResearchAndMarkets, the market has experienced significant growth over the last few years, largely due to rising demand for subscription-based models, as well as the ability to use the latest technologies and customise services.
In terms of market size, the research firm said the hardware offering is expected to boast the largest market share during the forecast period.
Hardware devices offered under the DaaS model include desktops, laptops, notebooks, tablets, smartphones, and peripherals. A typical device as a service model includes procurement, deployment, integration, managed services, and disposal of this hardware.
“The market for hardware is expected to grow significantly due to the increasing interest of enterprises in different types of hardware such as laptops, notebooks, and desktops combined in a single offering,” ResearchAndMarkets said.
“Moreover, IT infrastructure can quickly become outdated; it becomes a boon for mid-sized companies that cannot afford to upgrade technologies every few years. Thus, device as a- ervice models helps to update devices and refresh them according to their cycle.”
Meanwhile, it is also predicted that smartphones and peripherals will grow at the highest CAGR during the period, as most employees prefer to communicate through their devices.
DaaS solutions for smartphones could offer organisations benefits such as lower costs, access to recent tech, more predictable prices, as well as strong enterprise security.
“The demand for smartphones has been flattening out over the past few years,” the market research firm explained.
“However, new paradigms like device-as-a-service, where users pay subscription fees to have the latest devices at all times, could change things. Peripherals such as a computer mouse or keyboard are usually bundled with other mains such as desktops and laptops.”
ResearchAndMarkets also tips the IT and telecommunications segment to grow at the highest CAGR during the forecast period, as businesses invest more in resources to provide high quality of network and services - which will indirectly help boost adoption of more IT devices.
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