The report "PC as a Service (PCaaS) Market by Offering (Hardware, Software, Services), Enterprise Type (SMEs, Large Enterprises), Vertical (IT & Telecommunications, Healthcare & Life Sciences, Education, BFSI, Government), and Geography - Global Forecast to 2024", is currently in the growth phase and is expected to grow further in the near future. In terms of value, it is expected to grow from USD 15.9 billion in 2019 to USD 141.6 billion by 2024, at a CAGR of 54.9% during the forecast period. The growth of the PCaaS market is driven by factors such as the inclination of businesses toward the OPEX model rather than the CAPEX model, and the superior benefits offered by PCaaS business model.

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Also, additional advantages of the PCaaS model, such as flexibility and scalability, are expected to drive the PCaaS market. On the other hand, factors such as the absence of awareness in the field of PCaaS in developing countries, and the lack of product differentiation; and challenges such as security and data protection risks in BFSI are barriers inhibiting the growth of this market.

Software offerings to register the highest CAGR for PCaaS market during the forecast period

PCaaS market for software offerings to grow at highest CAGR during the forecast period. Software is designed to generate and automate computer programs, which transform data into specific information. PCaaS subscription offers customized software as per the end-user requirements. Software offerings in PCaaS include operating system/imaging, security software, asset management, as well as other factory-installed software. Companies operating in this space are approaching different independent software vendors (ISVs) for catering to the needs of end-users. PCaaS subscription provides upgrades and maintenance of software on a timely basis at a reasonable cost, allowing companies to enhance productivity and patch security flaws.

IT & Telecommunications vertical to hold the largest size of PCaaS market during the forecast period

Based on vertical, the PCaaS market is segmented into IT & telecommunications; healthcare & life sciences; education; BFSI; government; and others (retail and manufacturing). The IT & telecommunications vertical to hold the largest size of PCaaS market, during the forecast period. Access to secure, reliable, and high-performance communication is fundamental to operations of energy utilities, healthcare institutions, defense industry, transportation, and financial institutes. These verticals highly rely on IT & telecommunications departments for the smooth working of their business processes. PCaaS offers timely upgrades & maintenance of hardware and software, allowing companies to reduce IT burdens; moreover, it helps to avoid technological obsolescence, which ultimately enhances productivity.

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“PCaaS market in Asia Pacific expected to grow at highest CAGR during the forecast period”

The PCaaS market has been segmented based on major regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The global PCaaS market is expected to grow owing to the shift in organizational preference towards OPEX based business models; allowing them to priorities their investments. The growth is also supported by the benefits offered by PCaaS over traditional PCs and increasing adoption of PCaaS by small and midsized enterprises (SMEs) in the region.

Lenovo (Hong Kong), Hewlett-Packard (US), Dell Technologies (US), CompuCom Systems (US), Microsoft (US), Service IT Direct (Bizbang) (US), StarHub (Singapore), Telia (Sweden), Arrow Electronics (US), and SHI International (US) are key players operating in this space.