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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 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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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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Get a Customized VersionThe 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.
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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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.
Some of the leading providers of Hardware as a Service include
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.
By Type
By End-use Industry
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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.
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.
