The global Device-as-a-Service Market was valued at USD 157.7 Billion in 2025 and is projected to reach USD 1,323.2 Billion by 2034, growing at a CAGR of 26.66% during the forecast period 2026-2034. Key drivers include rising demand for cost-efficient IT infrastructure, increasing adoption of remote and hybrid work models, and greater need for scalable, subscription-based solutions. North America currently leads, holding over 35.0% market share in 2025.

The Device-as-a-Service Market Size is expanding rapidly as organizations shift from traditional hardware procurement to flexible, subscription-based device management models. DaaS bundles hardware, software, lifecycle management, and support into a single service, allowing enterprises to reduce upfront capital expenditure, improve productivity, and streamline IT operations.

Rising adoption of remote and hybrid work environments, along with the growing need for secure and efficiently managed devices, is fueling market growth. Companies are increasingly relying on DaaS solutions for laptops, smartphones, tablets, and peripheral devices to enhance scalability and reduce maintenance burdens. Cloud integration, automation, and advanced analytics are further boosting demand.

With strong uptake across sectors such as IT & telecom, BFSI, healthcare, education, and government, the Device-as-a-Service Market Size is projected to grow significantly in the coming years, driven by digital transformation initiatives, cost optimization strategies, and continuous device refresh cycles.

Study Assumption Years

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

Device-as-a-Service Market Key Takeaways

• The global device-as-a-service market size was USD 157.7 Billion in 2025.
• The market is expected to grow at a CAGR of 26.66% during 2026-2034.
• The forecast period for the market extends from 2026 to 2034.
• North America dominated the market in 2025 holding over 35.0% share due to early adoption and presence of significant IT service providers.
• The shift to OPEX over CAPEX models is boosting adoption by organizations aiming to reduce upfront costs and streamline IT management.
• Integration of AI and analytics is transforming device management with predictive maintenance reducing device downtime by up to 40%.
• Sustainability and circular economy initiatives are driving demand for environmentally responsible DaaS solutions, including refurbished devices which reduce hardware costs by 20-40%.

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Market Growth Factors

The device-as-a-service (DaaS) market growth is primarily driven by the increasing demand for cost-efficient IT infrastructure and the rising adoption of remote and hybrid work models. Organizations are adopting scalable subscription-based solutions that provide predictable costs and eliminate the need for large upfront investments. For example, Jio Financial Services launched a DaaS model in January 2024 allowing businesses in India to lease devices, improving cash flow and IT management. The shift toward operational expenditure (OPEX) over capital expenditure (CAPEX) is a key catalyst for market expansion globally.

AI and advanced analytics integration in DaaS are revolutionizing device management by enabling proactive monitoring and predictive maintenance. According to a 2024 industry study, predictive maintenance facilitated by AI can reduce device downtime by up to 40%. Analytics also provide insights into device usage patterns, facilitating data-driven decisions for optimizing resources and cutting costs. These capabilities are increasingly important for managing diverse devices across hybrid workplaces and ensuring cybersecurity compliance.

Sustainability is becoming a core business focus, driving demand for environmentally responsible DaaS solutions. These include lifecycle management practices such as recycling, refurbishment, and responsible disposal, contributing to circular economy goals. Refurbished devices offered through DaaS programs lower hardware costs by 20-40%, making them accessible to cost-conscious enterprises while reducing electronic waste. Providers are also incorporating energy-efficient devices and sustainable materials into their portfolios, aligning operational efficiency with environmental objectives.

Market Segmentation

By Offering:

• Hardware: Comprises laptops, desktops, tablets, and smartphones. It leads the market due to its critical role in enabling seamless IT operations and is favored for modernized, scalable, and customizable devices.
• Software: Not explicitly detailed in terms of description.
• Service: Not explicitly detailed in terms of description.

By Enterprise Size:

• Small and Medium-sized Enterprises: Gaining traction because of cost-saving benefits and streamlined IT management, offering modern devices without high upfront investments and scalable resources.
• Large Enterprise: Leading adopters with extensive IT needs, benefiting from predictive analytics, lifecycle management, and seamless global integration.

By End Use:

• Banking, Financial Services and Insurance (BFSI)
• Educational Institutions
• Healthcare and Life Sciences
• IT and Telecom: Leading the market with around 22.2% share due to extensive device networks and need for scalable, cost-effective IT solutions.
• Public Sector and Government Offices
• Others

Regional Insights

North America is the dominant region in the device-as-a-service market, accounting for over 35.0% share in 2025. This leadership stems from early adoption, a strong presence of key IT service providers, and high demand for scalable and cost-effective IT solutions supporting digital transformation and hybrid work models. Subscription-based model penetration and increasing sustainability awareness further bolster growth in this region.

Recent Developments & News

• October 2024: One Equity Partners (OEP) acquired Yorktel, an IT services company specializing in managed services and enterprise collaboration solutions, aiming to expand growth through organic and strategic acquisitions.
• April 2024: NTT DATA launched a Sustainable Device-as-a-Service solution with HP, integrating sustainability into device lifecycles to reduce carbon footprints and achieve cost savings while enhancing employee experience.
• March 2024: HP introduced an AI-driven Workforce Experience Platform alongside new Managed Services and enhanced device lifecycle programs to boost productivity and support circular economy efforts.
• February 2024: Lenovo UK's report highlighted a rising adoption of DaaS and Infrastructure as a Service (IaaS) models, with the market forecasted to grow to USD 155 billion by 2030 driven by hybrid work and sustainability.

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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