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Hardware as a Service Market

Hardware as a Service Market - Global Industry Analysis 2016 - 2020 and Opportunity Assessment 2021 - 2031

Hardware as a Service Market Segmented By Type such as Hardware Model includes Desktop/PC as a Service, Device as a Service, Platform as a Service, Infrastructure as a Service and Services like Consulting, Integration and implementation, Support & Maintenance

Hardware as a Service Market Forecast and CAGR

Hardware as a Service is an advanced model of technology that is used for reducing company’s cost on up gradation, maintenance, and replacement of hardware. It comes with reasonable managed solutions with a rental contract to deploy the hardware at the customer’s website.

The market is projected to witness significant growth due to several factors such as the growing need for reliable and cost-effective Hardware as a Service, escalating digitalization, Hardware as a Service provider’s landscape, and rising preference towards cloud adoption. According to report, the global Hardware-as-a-Service (HaaS) market is expected to witness a CAGR of 28.5% over the forecast period 2021 - 2031.

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What is Driving Demand for Hardware as a Service?

Growth in developments of technological advancement in the devices, hardware, or services across various enterprises can enable IT & telecom solution providers to provide that easier IT maintenance, scaling with ease, smoother cash flow and others applications.

The major Hardware as a Service providers are focused on shifting their business processes outsourcing from traditional solutions to the cloud, is one of the crucial factor to positively impact on the Hardware as a Service market during the forecast period.

There is an increasing demand for cost-effective Hardware as a Service solutions along with technological advancements for various end-users such as healthcare, retail, BFSI, manufacturing, and others to improve the business security is expected to fueling demand for Hardware as a Service across regions.

It offers various benefits such as increased scalability, reduced expenses, and improved security. The reliability of such benefits drives the growth of the Hardware as a Service market.

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What is the Impact of COVID-19 Pandemic Outbreak on Sales of Hardware as a Service?

The effect of COVID-19 are having a substantial impact on the Hardware as a Service sector, disrupting raw materials supply, causing an inflationary risk on products and disturbing the electronics value chain. However, hardware based vendors are focusing to protect revenue including adopting as-a-service commercial models, launching new offerings to support digital transformation, and supporting at-risk channel partners.

Further, lockdown and restrictions have augmented the usage of Hardware as a Service solutions quite higher than usual. The Hardware as a Service is offering different features such as smoother hardware performance, reduced capital expenditure, improve operations performance, enhanced security and others.

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US and Canada Market Outlook

The US is one of the major markets for Hardware as a Service globally. This is attributed to the high increase in demand of Hardware as a Service for various end-users such as retail, healthcare, telecom & IT among others. Furthermore, U.S. is the prominent country in global Hardware as a Service market accounting for around 20%-25% of the market share in 2021.

Demand for Hardware as a Service in cloud computing will be led by the IT and telecom sectors. Moreover, the widespread investments in cloud services due to greater advantages of HaaS, SaaS, and DaaS and maintain their delivery with a cloud-based solution which is, in turn, fueling the growth of the Hardware as a Service in the U.S. market.

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South Asia & Pacific Demand Outlook for Hardware as a Service

Currently, most enterprises in South Asia & Pacific are continuously shifting their outsourcing hardware from other enterprises for reducing their infrastructure cost and managing higher levels of service quality. Enterprises are focusing towards adoption of federated storage and virtualization solutions, which helps them to decrease their IT infrastructural cost by adopting managed Hardware as a Service solutions from third party vendors.

Nowadays, demand for Hardware as a Service (HaaS) is growing significantly for application in all sizes of enterprises. The enterprises has started adopting and deploying cloud-based application in order to deliver better breakthrough experience and improve mobility applications, business productivity, which is a key factor responsible for positive growth of the Hardware as a Service (HaaS) market across the South Asia & Pacific.

Who are the Key Providers of Hardware as a Service?

Some of the leading providers of Hardware as a Service include

  • Inc.
  • Navitas
  • International Business Machines Corporation (IBM)
  • Google LLC
  • Palladium Networks Inc.
  • CIT Group Inc.
  • Fujitsu Limited
  • Others.

The Hardware as a Service providers are focusing on launching innovative solution and expanding its Hardware as a Service offerings to deliver enhanced technology as well as offer new and upgraded solutions in new markets. For instance, July 2020, Zoom has introduced a Zoom Hardware as a Service programme in the US for both Zoom Phone and Zoom Rooms to minimize friction around hardware procurement.

Key Segments

By Type

  • Hardware Model
    • Desktop/PC as a Service
    • Device as a Service
    • Platform as a Service
    • Infrastructure as a Service
  • Services
    • Consulting
    • Integration and implementation
    • Support & Maintenance

By End-use Industry

  • Banking, Financial Services, and Insurance (BFSI)
  • Manufacturing
  • Healthcare
  • IT and Telecommunications
  • Energy & Utility
  • Education
  • Retail
  • Others

By Region

  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • East Asia
    • China
    • Japan
    • South Korea
  • South Asia & Pacific
    • India
    • Thailand
    • Indonesia
    • Malaysia
    • Australia & New Zealand
    • Rest of South Asia & Pacific
  • Middle East & Africa
    • GCC Countries
    • Turkey
    • South Africa
    • Rest of Middle East and Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Hardware as a Service Market Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.

- Companies Covered in This Report -

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