As cited by the research report titled ‘Device-as-a-Service Market Size study, by Offering (Hardware, Software, Services) by Type (Desktops, Laptops, Notebooks and Tablets, and Peripherals), by End use industry (IT & Telecommunications, Healthcare and Life Sciences, Educational Institutions, Banking, Financial Services and Insurance (BFSI)), and Regional Forecasts 2021-2027’, available with Market Study Report, global device-as-a-service market was worth USD 35.2 million in 2020 and is projected to grow with a CAGR of 43.2% to accumulate USD 434.7 million over 2021-2027.
 

Widespread adoption of subscription-based services model across various organizations as it provides pre-constructed hardware like laptops, desktops, smartphones, & customized software is a major factor driving the global device-as-a-service market growth.
 

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Moreover device-as-a-service model, in the form of subscription services, allows options for an organization to quickly expand or minimize considering the prevailing operating environment and business needs, thereby augmenting the market outlook. Additionally, the model incorporates financial services which offer resilience for end users with regards to payment, thus generating lucrative prospects for the business scenario.
 

For the record, subscription-based device-as-a-service models help customers to adjust the high cost of achieving innovative technology from a capital expenditure (CapEx) to an operating budget (OpEx).
 

As cited in the report, a lack of awareness about benefits of device-as-a-service model is likely to restrain the market progression over the analysis period.
 

Based on offering, worldwide device-as-a-service industry is segmented into software, hardware, and services. Considering the type, the marketplace is divided into laptops, tablets &notebooks, desktops, and peripherals & smartphones. Speaking of the end user range, the business space is categorized into educational institutions, public sector & government offices, IT & telecommunications, healthcare &life sciences, and banking, financial services & insurance (BFSI).
 

Geographically, Asia Pacific, North America, Europe, and Latin America are major contributors towards the overall industry valuation. Of these, North America held the significant market share in 2020 and is anticipated to growth further through 2027, on account of massive demand for device-as-a-service from the end users such as IT and telecommunications, and strong presence of major vendors like Microsoft, AT&T, Apple, HP, and Dell in the region.
 

Prominent players in worldwide device-as-a-service industry sphere are Apple Inc., Grenke AG, GreenFlex SAS, Computacenter plc, CHG-Meridian AG, Atea Global Services Ltd., Telia Company AB, 3 Step IT Group Oy, CompuCom Systems Inc., and Dell Technologies Inc.