Growing Demand for Flexibility and Cost Efficiency will Positively Impact the Device as a Service (DaaS) Market at a CAGR of 25.64% During the Forecast Period 2025 to 2035

Market Research Future (MRFR) has published a cooked research report on the “Device as a Service (DaaS) Market” that contains information from 2019 to 2035.

The Device as a Service industry is projected to grow from USD 184.07 Billion in 2025 to USD 1,804.35 Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 25.64% during the forecast period (2025–2035).

MRFR recognizes the following companies as the key players in the Global Device as a Service Market — Microsoft (US), Dell Technologies (US), HP Inc. (US), Lenovo (CN), Cisco Systems (US), Apple (US), IBM (US), Fujitsu (JP), and Atos (FR).

Device as a Service Market Highlights

The Device as a Service (DaaS) Market is experiencing rapid growth driven by the increasing adoption of subscription-based models, the growing emphasis on sustainability, and the integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML).

The market has moved from buying devices in the traditional way to a more flexible service-based model. This lets businesses get hardware, software, and lifecycle services through subscription agreements. This model makes operations more flexible, cuts down on capital spending, and encourages better device management.

The growing focus on sustainability and the circular economy is reshaping the industry, particularly in regions like Asia-Pacific, where companies are prioritizing eco-friendly device lifecycle management and refurbishment. Meanwhile, North America continues to lead the market with the largest share, supported by mature IT infrastructure, strong enterprise demand, and early adoption of as-a-service business models.

Technological integration is emerging as a major differentiator in the DaaS space. Providers are leveraging AI, IoT, and predictive analytics to optimize device performance, enable proactive maintenance, and enhance the overall user experience.

Segment Analysis

The Global Device as a Service Market has been segmented based on Component, Organization Size, Industry Vertical, and Region.

Based on Component, the market is segmented into Hardware, Solutions, and Services. The Hardware segment holds the largest market share due to continued demand for enterprise-grade devices, while the Services segment is projected to grow at the fastest rate, driven by the rising adoption of managed and support services for IT operations.

Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-Sized Enterprises (SMEs). Large Enterprises currently dominate the market due to their high-volume device deployments and focus on scalability, while SMEs represent the fastest-growing segment, benefiting from flexible subscription models that reduce upfront investment.

Based on Industry Vertical, the market includes IT & Telecom, Healthcare, BFSI, Government, Retail, and Others. The IT & Telecom segment holds the largest share owing to the continuous need for updated technology and managed device solutions. The Healthcare segment is the fastest-growing, supported by the increasing adoption of digital health platforms and remote patient management systems.

Region Analysis

By region, the Device as a Service Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.

North America dominates the global market with approximately 45% of total share, led by rapid digital transformation, high technology adoption, and the strong presence of key players such as Microsoft, Dell Technologies, and HP Inc.

Europe accounts for around 30% of the market share, driven by increasing digitalization and sustainability-focused regulations. Countries such as Germany, the UK, and France are at the forefront of market growth due to strong adoption among enterprises.

Asia-Pacific represents the fastest-growing region, with about 20% of the global share. The region’s growth is fueled by increasing demand for flexible IT models, government initiatives promoting digitalization, and expansion by major DaaS providers like Lenovo and Cisco Systems.

The Middle East & Africa are emerging markets, collectively holding around 5% of the global market share. Growth in these regions is supported by expanding digital infrastructure, government-led innovation programs, and increasing enterprise investment in technology modernization.

Market Drivers

The growth of the Global Device as a Service Market is primarily driven by several key factors. The increasing demand for flexibility and scalability is encouraging organizations to adopt DaaS models that can be adjusted according to business needs. This adaptability is particularly beneficial for enterprises operating in fast-changing environments.

Integration of advanced technologies such as AI, IoT, and ML is enhancing service efficiency, enabling predictive maintenance, and supporting data-driven decision-making. In addition, cost efficiency and predictable budgeting are major advantages, with businesses reporting up to 30% savings in total cost of ownership compared to traditional procurement models.

Furthermore, the rising emphasis on employee experience and productivity is prompting companies to equip their workforce with the latest devices and tools. Lastly, the growing focus on sustainability and circular economy principles is driving the adoption of refurbished and recycled devices, helping organizations reduce their carbon footprint.

Key Findings of the Study

• The Global Device as a Service Market is expected to reach USD 1,804.35 Billion by 2035, at a CAGR of 25.64% during the forecast period.
  • North America accounted for the largest market share in 2024, while Asia-Pacific is projected to be the fastest-growing region.
  • Based on Component, the Hardware segment held the largest share in 2024, while Services emerged as the fastest-growing category.
  • Based on Organization Size, Large Enterprises dominated the market, whereas SMEs represented the fastest-growing segment.
  • Based on Industry Vertical, IT & Telecom held the largest share, while Healthcare is expected to witness the highest growth rate.
  • Microsoft (US), Dell Technologies (US), HP Inc. (US), Lenovo (CN), Cisco Systems (US), Apple (US), IBM (US), Fujitsu (JP), and Atos (FR) are recognized as the key players in the global market.

Related Reports

https://www.marketresearchfuture.com/reports/device-as-a-service-market-4486