PUBLISHER: The Business Research Company | PRODUCT CODE: 1429450
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429450
Hardware Support Services involve both preventive and corrective maintenance procedures for hardware, encompassing fundamental installation, contract maintenance, and repair on a per-incident basis.
The primary categories of hardware support services include computer and peripherals support services, storage and servers support services, networking support services, and various other hardware support services. Computer and peripherals support services offer external assistance to devices connected to the computer, facilitating information input, enabling the computer to produce visible and audible output, and performing essential tasks. These services are available in both online and offline modes and are categorized as either in warranty or out of warranty.
The hardware support services market research report is one of a series of new reports from The Business Research Company that provides hardware support services market statistics, including hardware support services industry global market size, regional shares, competitors with a hardware support services market share, detailed hardware support services market segments, market trends and opportunities, and any further data you may need to thrive in the hardware support services industry. This hardware support services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hardware support services market size has grown steadily in recent years. It will grow from $1010.67 billion in 2023 to $1054.01 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The expansion observed in the historical period can be credited to robust economic growth in emerging markets and the availability of a cost-effective talent pool in those markets.
The hardware support services market size is expected to see strong growth in the next few years. It will grow to $1374.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated expansion in the forecast period is linked to an increasing demand for cloud-based hardware support services in developing regions, rapid transformations in IT infrastructure, and the growing utilization of existing products, which will fuel market growth. Key trends expected in the forecast period involve strategic mergers and acquisitions, the adoption of cloud computing, the implementation of predictive maintenance, the embrace of green IT, and the emergence of new technological developments.
Global governments are heavily investing in the development of smart cities, a trend expected to boost the demand for computer hardware products and subsequently drive the hardware support services market during the forecast period. The European Union actively supports smart-city initiatives by allocating funds for research and setting sustainability targets for its member states. This concept is gaining traction in developing nations as well, with over 1,000 smart city pilot projects either ready or under construction globally, including around 500 in China. The overarching smart-city experience involves interconnected systems and objects utilizing various technologies such as local, wired, and wireless networks, further increasing the demand for hardware support services.
The expanding IT (information technology) industry is anticipated to propel the growth of the hardware support services market in the foreseeable future. The IT industry encompasses computing, including hardware, software, telecommunications, and information processing and storage. Hardware support services play a crucial role in the IT sector, offering preventive and remedial services for the physical repair or optimization of hardware, including contract maintenance and per-incident repair. For example, as of September 2023, the Bureau of Labor Statistics, a U.S.-based government agency, reported an average of 377,500 IT opportunities annually due to employment growth and the need to replace workers permanently leaving their jobs. It is expected that overall IT occupations will expand substantially faster than the average for all occupations from 2022 to 2032. Consequently, the expanding IT industry is a key driver of the growth in the hardware support services market.
The acceptance of cloud software solutions has been increasing among companies in various industries, as it eliminates the need for physical storage space traditionally required for software deployment. Cloud computing involves a delivery method where a vendor hosts a software application on a remote server, allowing customers to access it via the internet. With the continued growth of cloud computing services, there is a rising demand for cloud data recovery solutions, particularly in the context of disaster recovery tools. This need arises because the cloud stores data that is susceptible to cyber and malware attacks. For instance, Kroll Ontrack provides cloud data recovery solutions for SharePoint and SQL servers.
An emerging trend in the hardware support services market is the introduction of new support and management services, gaining popularity. These services are crucial for maintaining and monitoring hardware equipment such as servers, storage devices, and network equipment. They encompass corrective and preventive maintenance, basic installation, contract maintenance, and per-incident repair. In January 2023, Neat, a U.S.-based video company, announced the release of its new support and management services, Neat Pulse. The Neat Pulse package includes priority technical assistance, an extended warranty, cloud device administration, and monitoring. According to the company, Neat Pulse simplifies the configuration, maintenance, and updating of Neat devices, utilizing advanced resources such as Microsoft TAC (Teams Admin Center) and ZDM (Zero Downtime Migration) to efficiently manage device deployments.
In January 2023, Microsoft, a U.S.-based technology company, acquired Fungible Inc. for an undisclosed amount. This acquisition underscores Microsoft's commitment to making distinctive, long-term investments in datacenter infrastructure. These investments aim to enhance a wide range of technologies and services, including offloading, reducing latency, increasing server density in datacenters, optimizing energy efficiency, and reducing costs. Fungible Inc. specializes in composable infrastructure, offering high-efficiency, low-power data processing units (DPUs) to accelerate networking and storage performance in datacenters.
Major companies operating in the hardware support services market report are Intel Corporation, Dxc Technology, Dell Technologies Inc., Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Huawei, NEC Corporation, International Business Machines Corporation, Fujitsu Ltd., Oracle Corp, Acer India Pvt. Ltd., Compuage Infocom Ltd., HCL Infosystems Ltd., Hewlett-Packard India Sales Pvt. Ltd., Ingram Micro India Pvt. Ltd., Leisen Electronic Technology, GWIC, T-Systems, Computacenter, GFI Informatique, Barco, Trivago, Mimecast, Accenture, SAP, Capgemini, ATOS, DevsData LLC, Britenet, GTM Plus, Sudolabs, Limestone Digital, CGI IT Czech Republic sro, Star Storage, RITS Professional Services sp. z o o, DSSC Solutions Company, BairesDev, White Prompt, BCA IT, Inc., Emc Computer Systems, MXM Sistemas, CI&T, BIX Technology, Medilab Sistemas, Luby Software, Indicium, e-Core, WAZ, Blue Chip Computer System, Liveware Technologies LLC, Shahico Technologies, 9T9 Information Technology, Purple X Technologies, Hi-Tech Bahrain W.L. L, Team Yamama, Sariya Company Limited, Xyte, Rachip, AVAX Manufacturing, Buzz Cabinet Hardware, Instarect Concrete, Baah Consultant Agency, Ascop Technologies Limited, Iot.nxt, Booboo (TGL)
Western Europe was the largest region in the hardware support services market in 2023. North America was the second largest region in the hardware support services market. The regions covered in the hardware support services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the hardware support services market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The hardware support services market revenues earned by entities by providing hardware support services including computer and peripherals support services, storage and servers support services, networking support services and others. Hardware support services may be either reactive support, preventive-based support, or proactive support. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hardware Support Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hardware support services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hardware support services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hardware support services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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