Device-as-a-Service Market Size to Hit USD 1,323.2 Billion by 2034 | With a CAGR 26.66%

Device-as-a-Service Market Overview:

The global Device-as-a-Service Market was valued at USD 157.7 Billion in 2025 and is forecast to reach USD 1,323.2 Billion by 2034, growing at a CAGR of 26.66% during 2026-2034. This growth is driven by increasing demand for cost-efficient IT infrastructure, rising adoption of remote work models, and the growing need for scalable, subscription-based solutions that enable organizations to focus on lifecycle management and seamless device provisioning.

The Device-as-a-Service market size is expanding rapidly driven by the shift from capital expenditure (CapEx) to operational expenditure (OpEx) models, enabling businesses to reduce upfront costs while maintaining access to modern devices. Organizations across industries are embracing DaaS for its flexibility in managing diverse hardware fleets, including laptops, desktops, tablets, and smartphones. The growth of hybrid and remote work environments has accelerated adoption, as companies seek reliable IT solutions with integrated maintenance, security, and support services. Advancements in AI-driven analytics for performance monitoring, predictive maintenance, and enhanced cybersecurity are driving product innovation. The rise of sustainability initiatives, circular economy practices, and e-waste reduction efforts is further boosting market adoption. Strong partnerships between OEMs and service providers, combined with increasing demand from SMEs and large enterprises, support future global market expansion.

Study Assumption Years

• Base Year: 2025
• Historical Years: 2020-2025
• Forecast Years: 2026-2034

Device-as-a-Service Market Key Takeaways

• Current Market Size (2025): USD 157.7 Billion
• CAGR (2026-2034): 26.66%
• Forecast Period: 2026-2034
• The market is propelled by the growing need for flexible IT infrastructure in hybrid work environments.
• Increasing adoption of subscription-based models is driving product usage across enterprises.
• Technological advancements such as AI-based predictive maintenance and analytics are enhancing operational efficiency.
• Expansion into sectors including healthcare, education, and BFSI is broadening market horizons.
• High operational costs and device management complexity present market challenges.

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Market Growth Factors

The Device-as-a-Service market is significantly driven by the escalating demand for cost-effective IT infrastructure across organizations of all sizes. Companies are moving away from large capital investments in hardware to subscription-based models that offer predictable operational expenses and simplified budgeting. This shift enables businesses to allocate resources more efficiently while ensuring employees have access to the latest technology. The OpEx model particularly appeals to SMEs that lack significant upfront capital, as well as large enterprises seeking to optimize their IT spending across global operations.

Technological advancements are another major growth factor enhancing the market. Recent improvements in AI-driven device management, predictive analytics, and automated maintenance have significantly reduced IT workload and enhanced user experience. For instance, AI-based performance monitoring enables proactive identification of hardware issues before they cause downtime, while analytics provide insights into usage patterns that help optimize device allocation. Real-time security monitoring and compliance management further strengthen the value proposition, helping organizations maintain robust cybersecurity postures while reducing manual oversight requirements.

The diversification of applications across different industries such as healthcare, education, BFSI, and IT & telecom also fuels market growth. In healthcare, DaaS enables medical facilities to maintain modern, secure devices for patient care and administrative tasks without significant capital investments. In education, institutions can provide students and staff with up-to-date technology while managing costs effectively. The IT and telecom sector, which dominates DaaS adoption with approximately 22.2% market share, relies on scalable device management to support global operations and rapid workforce scaling. Such expanding use cases present significant opportunities for market expansion across multiple sectors.

Market Segmentation

Offering:

• Hardware: Hardware represents the largest share in the DaaS market due to its fundamental role in enabling business operations. This segment includes laptops, desktops, tablets, and smartphones provided through subscription models with integrated maintenance, upgrades, and support services. The demand for modernized, high-performance devices with advanced connectivity and security features drives hardware adoption. OEMs and service providers increasingly offer bundled solutions that ensure operational efficiency and simplified device lifecycle management.
• Software: Software solutions complement hardware offerings by providing device management platforms, security applications, and productivity tools as part of comprehensive DaaS packages.
• Service: Service components include technical support, maintenance, device provisioning, and lifecycle management that enhance the overall DaaS value proposition.

Enterprise Size:

• Small and Medium-sized Enterprises: SMEs are increasingly adopting DaaS due to its cost-saving benefits and streamlined IT management capabilities. Subscription-based models eliminate large upfront investments while providing access to modern devices and professional support services. This segment benefits from enhanced productivity and reduced burden on small IT teams, enabling SMEs to focus on core business activities while maintaining competitive technology infrastructure.
• Large Enterprise: Leading segment, driven by complex device management needs and extensive IT requirements across global operations. Large enterprises benefit from advanced features like predictive analytics, lifecycle management, and seamless integration capabilities. The ability to manage diverse hardware fleets, streamline upgrades, and ensure security compliance makes DaaS an attractive solution. Enhanced scalability, cost transparency, and support for sustainability initiatives align with corporate ESG goals.

End Use:

• Banking, Financial Services and Insurance (BFSI): Financial institutions adopt DaaS for secure, compliant device management across distributed operations.
• Educational Institutions: Schools and universities leverage DaaS to provide students and faculty with modern technology while managing budgets effectively.
• Healthcare and Life Sciences: Healthcare facilities utilize DaaS to maintain secure, up-to-date devices for patient care and administrative functions.
• IT and Telecom: Dominates the market with approximately 22.2% share, driven by the need for scalable, cost-effective IT solutions to support global networks and operations. This sector requires efficient lifecycle management and frequent upgrades, making DaaS models particularly suitable. The shift to remote work and demand for secure, high-performance devices further encourages adoption.
• Public Sector and Government Offices: Government agencies adopt DaaS to modernize IT infrastructure while optimizing budgets and ensuring security compliance.
• Others: Includes various industries such as retail, manufacturing, and professional services adopting DaaS solutions.

Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Regional Insights

North America is the leading regional market for Device-as-a-Service, holding over 35.0% of the global market share in 2025. The region's growth is driven by early adoption of subscription-based IT models, strong presence of major technology providers, and widespread digital transformation initiatives. The demand for scalable, cost-effective IT solutions supporting hybrid work environments is particularly strong in the United States and Canada. Enterprises and government agencies across North America prioritize advanced device management with integrated security and support services. Additionally, increasing concerns about sustainability and e-waste management align with DaaS offerings that promote circular economy practices and responsible device lifecycle management.

Recent Developments & News

In October 2024, One Equity Partners acquired Yorktel, an IT services company specializing in managed services and enterprise collaboration solutions, to foster growth through organic expansion and strategic acquisitions. In April 2024, NTT DATA launched a Sustainable Device-as-a-Service solution developed with HP, integrating sustainability practices throughout device lifecycles to help organizations reduce carbon footprints while enhancing employee experience. In March 2024, HP launched its inaugural AI-driven Workforce Experience Platform along with new Managed Services and enhanced device lifecycle programs promoting productivity and circular economy efforts. In February 2024, Lenovo UK reported rising adoption of DaaS and IaaS models, with projections showing the DaaS market growing from USD 22 billion in 2022 to USD 155 billion by 2030, driven by hybrid work trends and sustainability goals.

Key Players

• Accenture Plc
• Atea Global Services Ltd. (Atea Group)
• Cognizant Microsoft Business Group
• HP Development Company L.P.
• Intel Corporation
• Lenovo Group Limited
• Yorktel

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