Global Device-as-a-Service Market to Upsurge with Rising Digitalization Across Industry Verticals

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The Global Device-as-a-Service (DaaS) Market is anticipated to grow at a CAGR of about 25.75% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. Over the past few years, there has been a notable increase in internet penetration rates, particularly in Asia-Pacific & Middle Eastern countries, due to surging government investments in the telecommunications sector. This surge in internet accessibility and widespread smartphone usage has created a facilitative environment for businesses to thrive. Consequently, many organizations are transitioning towards digitalization and offering digital services to their consumers. This amplifying interest of large and medium-scale enterprises in digital services is driving the adoption of DaaS solutions, as these solutions play a crucial role in helping organizations manage and analyze digital data efficiently, contributing to the overall growth of the Global Device-as-a-Service (DaaS) market.

Additionally, governments in countries such as Japan, the UAE, and others are deploying 5G networks to enhance technology infrastructure for different industry verticals and consumers. These governments & private telecom enterprises are making substantial investments to promote the adoption of 5G within their borders. These increased investments aimed at expanding 5G networks would continue to drive the demand for digital solutions within organizations to manage data utilization and analysis. Consequently, end-users are likely to turn to Device-as-a-Service (DaaS) solutions to enable faster data processing and localized analytics, thereby boosting the Global Device-as-a-Service (DaaS) market in the coming years.

Further, governments in countries such as Saudi Arabia, India, and others are actively promoting digitalization within the healthcare sector by launching several initiatives and programs like Digital Health. These programs & schemes are compelling hospitals and nursing clinics to adopt digital platforms, which would further facilitate the adoption of DaaS solutions to facilitate access to medical advice & diagnostics, and prescriptions in the forthcoming years., further states the research report, “Global Device-as-a-Service (DaaS) Market Analysis, 2024.”

Global Device-as-a-Service (DaaS) Market Segmentation Analysis

BFSI Dominates Global Device-as-a-Service Market

Based on the end-user segment, the market is further bifurcated into, IT/ITES & Telecom, Government, BFSI, Healthcare, Education, and others. Of them all, BFSI held a dominant share in the Global Device-as-a-Service Market. Governments are consistently working on digitalizing the economy within their countries. As a result, governments are taking initiatives to transform the BFSI sector digitally. The banks are increasingly integrating digital technologies to enable convenient access to banking services and secure transactions. Therefore, the BFSI sector is utilizing DaaS solutions, expanding the BFSI market share in the Global Device-as-a-Service (DaaS) market.

Furthermore, evolving consumer preferences and a growing inclination towards digital payments are further emphasizing the need for DaaS solutions. Hence, as digital payments continue to rise, the need for DaaS solutions will witness growth in the forthcoming years.  

North America Leads the Global Device-as-a-Service Market

North America has established a substantial market presence within the Global Device-as-a-Service (DaaS) market. North America has numerous tech giants, startups, and research institutions. These industries are leading the way in technological advancements and increasingly embracing digitalization to enhance service quality. As a result, these tech-based companies are utilizing DaaS solutions to elevate customer experiences. Furthermore, governments in North American countries are making significant investments in technology and innovation to maintain a competitive edge globally. This proactive approach would accelerate digital transformation initiatives among enterprises and organizations in these countries, further fueling the demand for DaaS solutions in the foreseeable future.

Global Device-as-a-Service (DaaS) Market Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Lenovo, Hewlett Packard, CompuCom, Citrix, Dell Technologies, Microsoft Corporation, Amazon Web Services, HCL, Cloudalize, Accenture, Yorktel, CDW, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & services adoption?
5. How has the competition been shaping across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?