The Device-as-a-Service (DaaS) market was worth USD 34,680.33 million in 2024, with a projected CAGR of 26.90% from 2025 to 2032. DaaS offers a subscription-based solution that combines hardware, software, and managed services into a single package, transforming how businesses equip their workforce in the era of hybrid and remote work.
Companies lease devices as part of a service contract, simplifying IT asset management and reducing upfront costs. The General Services Administration (GSA) has adopted the DaaS model, offering IT hardware and managed services bundles under long-term contracts to streamline procurement for federal agencies.
By 2023, medium to large organizations in North America had embraced DaaS to enhance device provisioning and minimize operational downtime. Government initiatives like the U.S. GSA’s managed IT services contracts have accelerated DaaS adoption across sectors like finance, education, healthcare, and public administration.
DaaS adoption is driven by cost savings, operational benefits, and sustainability goals. Companies seek to reduce electronic waste and improve environmental accountability, aligning with ESG goals. Government agencies like the U.S. GSA are recognizing DaaS as a strategic solution to manage IT assets while meeting sustainability objectives.
Challenges to DaaS adoption include data privacy concerns, vendor dependency, SLA reliability, and compatibility with legacy systems. Despite these barriers, the model’s scalability, financial flexibility, and security features encourage widespread adoption, especially among SMEs in emerging markets.
North America dominated the DaaS market in 2024, accounting for over 38% of global revenue. The region benefits from widespread hybrid work adoption and government-driven IT modernization programs, such as the U.S. GSA’s promotion of DaaS contracts across federal agencies.
Asia Pacific is experiencing the fastest DaaS market growth, projected to expand at a CAGR exceeding 29% through 2032. Rapid digital transformation in countries like India and China is fueling this growth, with government programs leveraging DaaS for cost-effective device deployment in various sectors.
The DaaS market is highly competitive, with global players offering integrated hardware, software, and support services. Leading companies like Accenture, Amazon Web Services, Apple, and Dell Technologies focus on innovation, scalability, and strategic partnerships to cater to enterprise and government needs in the evolving digital workplace landscape.
Read more at GlobeNewswire: Device-as-a-Service (DaaS) Market Set to Soar with 26.90%