USD 83.6 billion
Device as a Service Market Size, Share, Growth Analysis, By Type(Hardware Testing and Security Testing), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2058 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
34
|Figures:
74
Device as a Service Market Insights
Global Device as a Service Market size was valued at USD 83.6 billion in 2022 and is poised to grow from USD 107.93 billion in 2023 to USD 832.80 billion by 2031, growing at a CAGR of 29.1% during the forecast period (2024-2031).
The global Device as a Service (DaaS) market is witnessing significant growth and transformation driven by the increasing adoption of subscription-based IT services and the growing need for efficient device management. DaaS offers organizations a comprehensive solution that includes hardware, software, and support services in a single package.
This allows businesses to streamline their device procurement, management, and maintenance processes while enjoying flexible payment models. The market is driven by factors such as cost-effectiveness, scalability, reduced IT burden, and simplified device lifecycle management.
As organizations increasingly prioritize digital transformation and remote work environments, the demand for DaaS solutions is expected to surge. Additionally, advancements in technology, such as cloud computing and AI-powered analytics, are enhancing the capabilities of DaaS offerings, further driving market growth.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hardware Testing
Fastest Growth
Hardware Testing
Growth Rate
29.1% CAGR
Global Device as a Service Market ($ Bn)
Country Share for North America Region (%)
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Device as a Service Market Segmental Analysis
The global device as a service market is segmented by type and region. Based on type, the market can be segmented into Hardware Testing and Security Testing. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
The dominant sub-segment in the testing type of DaaS is hardware testing. This involves rigorous testing of the physical devices to ensure their quality, functionality, and performance. Hardware testing ensures that the devices meet the required specifications and standards before being deployed to end-users.
The fastest growing sub-segment in the testing type of DaaS is the security testing. With the increasing focus on cybersecurity, organizations are emphasizing the security of their devices. Security testing involves evaluating the devices for vulnerabilities, ensuring data protection, and mitigating risks associated with potential security breaches. As cybersecurity concerns continue to rise, the demand for robust security testing in DaaS is expected to grow rapidly.
Global Device as a Service Market By Type
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Device as a Service Market Regional Insights
One dominant region in the Global Device as a Service (DaaS) Market is North America. North America has a strong presence in the DaaS market due to the high adoption of advanced technologies and the presence of major technology companies. The region benefits from a well-established IT infrastructure and a large customer base, including enterprises of all sizes.
One of the fastest growing regions in the DaaS market is the Asia-Pacific region. With the rapid digital transformation and increasing adoption of cloud-based solutions, countries like China, India, and Japan are witnessing significant growth in the DaaS market. The increasing demand for flexible and scalable IT solutions, coupled with the growing focus on cost optimization and operational efficiency, is driving the adoption of DaaS in the region. Furthermore, the Asia-Pacific region offers a substantial customer base and untapped market potential, making it an attractive market for DaaS providers. The region's expanding IT sector, rising disposable income, and increasing smartphone penetration are contributing to the growth of the DaaS market in the region.
Global Device as a Service Market By Geography
- Largest
- Fastest
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Device as a Service Market Dynamics
Drivers
Shift Towards A Subscription-Based Model
- One driver of the global Device as a Service (DaaS) market is the shift towards a subscription-based model and the growing demand for flexible IT solutions. With DaaS, businesses can access the latest devices and technology without the need for upfront investments or long-term commitments. This allows organizations to scale their device infrastructure according to their needs, reduce the burden of managing hardware, and stay up-to-date with technological advancements.
Restraints
Potential For Data Security And Privacy Concerns
- On the other hand, a key restraint of the global DaaS market is the potential for data security and privacy concerns. As businesses rely on third-party providers for device management and support, there is a need to ensure robust data protection measures are in place. Organizations must carefully assess the security protocols and data handling practices of DaaS providers to safeguard sensitive information and maintain compliance with relevant regulations. Addressing these concerns is crucial for the wider adoption of DaaS solutions across industries.
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Device as a Service Market Competitive Landscape
The global Device as a Service market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Device as a Services. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Top Player’s Company Profiles
- Microsoft Corporation (United States)
- Apple Inc. (United States)
- Cisco Systems, Inc. (United States)
- Google LLC (United States)
- Amazon.com, Inc. (United States)
- Fujitsu Limited (Japan)
- Acer Inc. (Taiwan)
- Toshiba Corporation (Japan)
- ASUS Computer International (Taiwan)
- Samsung Electronics Co., Ltd. (South Korea)
- Huawei Technologies Co., Ltd. (China)
- Sony Corporation (Japan)
- LG Electronics Inc. (South Korea)
- Panasonic Corporation (Japan)
- NEC Corporation (Japan)
- Sharp Corporation (Japan)
- Hitachi, Ltd. (Japan)
Recent Developments
-
In February 2024, LG Electronics uncovered an extended strategic partnership with Meta, a worldwide tech leader. Their cooperation means using the separate qualities of the two organizations in items, content, administrations, and stages to advance in extended reality (XR) client encounters. Expanded reality advancements, including the metaverse, augmented reality (AR), virtual reality (VR), and mixed reality (MR), are perceived by IEEE as core growth regions in innovation for 2024.
-
In February 2024, Analog Devices Inc. (ADI) declared a strategic agreement with TSMC, the main semiconductor foundry, to support its long-term wafer limit through Japan Advanced Semiconductor Assembling, Inc. (JASM), an auxiliary of TSMC in Japan. This cooperation, broadening their organization of more than thirty years, gives ADI an extra limit concerning fine-pitch innovation hubs fundamental for its remote BMS and Gigabit Multimedia Serial Link (GMSLTM) applications. Strengthening ADI's manufacturing network, this drive guarantees versatility and adaptability to fulfill client needs.
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In January 2024, Samsung escalated its worldwide AI ambitions, and aspirations, underscoring strategic partnerships and key associations. The eminent coordinated effort with Google goes past a normal seller-client relationship. Samsung's system-simulated intelligence uses a blend of cloud-put-together and gadget-simulated intelligence arrangements, with the cloud-based perspective being a joint exertion with Google. The common innovative assets and bits of knowledge between Samsung and Google intend to propel simulated intelligence highlights, promising an upgraded client experience on Samsung gadgets.
Device as a Service Key Market Trends
- One key market trend in the global Device as a Service (DaaS) market is the growing adoption of subscription-based models for hardware and software solutions. This trend is driven by the need for businesses to optimize their IT infrastructure and reduce upfront costs. DaaS offers organizations the flexibility to acquire and manage devices, such as laptops, smartphones, and tablets, as a service rather than purchasing them outright. With a subscription-based model, businesses can access the latest devices, receive regular upgrades, and benefit from comprehensive support and maintenance services. This trend allows companies to streamline device procurement, improve scalability, and focus on their core competencies while ensuring they have access to the latest technology.
Device as a Service Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global Device as a Service (DaaS) market refers to the business model where organizations can acquire and manage their IT hardware devices, such as laptops, desktops, tablets, and smartphones, as a subscription-based service. This approach offers numerous benefits, including reduced upfront costs, simplified device management, improved scalability, and enhanced security. DaaS providers take care of device procurement, deployment, maintenance, and support, allowing organizations to focus on their core operations. The market is driven by the increasing adoption of cloud-based services, digital transformation initiatives, and the need for cost-effective and flexible IT solutions. The DaaS market is expected to witness significant growth as more organizations seek to streamline their IT operations and leverage the advantages of a subscription-based model for device management.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 83.6 billion |
| Market size value in 2031 | USD 832.80 billion |
| Growth Rate | 29.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Device as a Service Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Device as a Service Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Device as a Service Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Device as a Service Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Device as a Service Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Device as a Service Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Device as a Service Market Report Snapshots
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