Device-as-a-Service Market Size

Device-as-a-Service (DaaS) Market size was over USD 161.8 billion in 2024 and is anticipated to cross USD 4.3 trillion by 2037, witnessing more than 28.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of Device-as-a-Service is estimated at USD 201.27 billion.

 The growth of the market can be attributed to the rising adoption of subscription-based services model, and increasing number of channel partner offering device-as-a-service. Along with these, growing need to reduce the capital expense (CAPEX) and operating expense (OPEX) among enterprises, and escalating adoption of contract-based solutions among small and medium sized-businesses are also expected to boost the drive market growth in the forthcoming years. Furthermore, rapid surge in the usage of cloud services in developing nations, and growth in the penetration of smart devices are projected to offer lucrative opportunities to the market in the near future. As of 2020, there are more than 3 billion people globally who use smartphones. By the end of 2021, this userbase is calculated to reach a value of approximately 4 billion.