Remote working pushes tech subscription market to be worth $303bn by 2026
The device-as-a-service market is forecast to swell to around $303.6bn by 2026, according to a new market research report today, as remote working charged the industry.
The market, currently worth around $50.3bn, has seen increasing demand throughout the pandemic as businesses have opted for subscription-based tech according to the report by MarketsandMarkets.
The hardware section of the market, where businesses are issued laptops, phones and tablets for work, enjoyed a spike in interest in 2020.
IT infrastructure can quickly become outdated and for small and medium enterprises (SMEs), this can become a costly chore – which the emerging market seeks to tackle.
The report expects SMEs lacking budget or investment capabilities to shift to outsourced desk services over the next few years.
The shift towards the device-as-a-service model can also better prepare SMEs for the ongoing digital transformation that has been accelerated by the pandemic, the report added.
According to the report, the smartphone segment of the market is set to grow at the highest rate, as many employees collaborate with each other through their smartphones.