Research report presented by UnivDatos, Emphasis on Components (Hardware and Services), Model [Hardware Model (Platform as a Service, Desktop/PC as a Service, Infrastructure as a Service, and Device as a Service), Professional Services], Deployment (On-Premises, and Cloud), Enterprize Size (Small & Medium Enterprizes, and Large Enterprizes), Application (Government, Manufacturing, Telecom & IT, Retail, Healthcare, Energy & Utility, Education, and Others) and Geographical analysis (key regions and country).
As per the research report, Hardware-as-a-Service (HaaS) Market is expected to exceed the market valuation of more than US$ 304 billion by 2027 expanding at a reasonable CAGR of more than 25% during the forecast period (2021-2027). The demand is growing as a result of rising technology investments along with increased digitalization. According to Gartner, global IT investment is projected to increase by 4% in 2021, reaching US$ 3.8 trillion.
The growing need for companies to minimise upfront capital expenditures and move allocations from the capital spending budget to the operating cost budget. Furthermore, advantages such as a one-stop solution, proactive service model, improved business protection, scalability, low upfront cost, no need to think about upkeep, unique software, and so on are aiding market development. In addition, technological advances such as digitalization, IoT, and cloud adoption across industries are expected to drive market growth during the forecast period.
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Furthermore, the increasing desire of businesses to lease hardware rather than buy it in order to save money is fueling the market's expansion. According to Spice Works, a U.S. based tech company, as of 2019, 40% of companies lease printers in the office, while fewer than 10% lease other forms of hardware, such as servers (8%), networking devices (8%), desk phones (7%), desktops (6%), laptops (6%), smartphones (5%), or tablets (2%). (3%). In addition, 21% of businesses use the hardware-as-a-service (HaaS) platform for printers, and have been available via the HaaS model for a longer period of time than many other forms of hardware. However, only about 5% of end-user computers, such as desk phones, desktops, notebooks, and tablets, use HaaS.
Furthermore, since considerations such as application implementation, data management services, patching, and monitoring, among others, are some of the most popular services provided in HaaS subscriptions, end-users are more inclined to it. According to a survey, 71 percent of respondents said the top benefit of HaaS adoption is less time/resources expected of internal IT workers, while 47 percent said better troubleshooting/support is the top benefit of HaaS adoption. However, insufficient capital to handle devices in-house, a lack of regulation, non-cost-effectiveness, and a lack of budget are some of the factors limiting the market's expansion.
For a detailed analysis of the applications in the Smart Home Market browse through – https://univdatos.com/report/global-hardware-as-a-service-market-current-analysis-and-forecast
Insights Presented in the Report
“Amongst components, Hardware segment holds the major share”
The market is divided into Hardware and Services based on product types. In 2019, the Hardware segment dominated the market with a share of more than 52%, and this domination is projected to continue over the forecast era. However, due to the launch of various technical and managed services by industry players, the services segment will grow at the fastest rate during the forecast period.
“Amongst Hardware model, Desktop/PC is expected to dominate the market during the analyzed period”
Platform-as-a-service, desktop/pc-as-a-service, infrastructure-as-a-service, and device-as-a-service are the industry segments based on hardware model type. In 2019, desktop/PC led the industry, capturing the majority of market share. The WFH model, together with the introduction of new desktop/PCs by manufacturers around the industry, is gaining traction with end-users, and the demand is growing.
“Amongst deployment type, the on-premise segment accounts for the highest revenue share”
The market is divided into two segments based on implementation type: on-premise and cloud. The on-premise division, which accounted for about 68 percent of the overall market in 2019, had the largest sales share. During the forecast period of 2021-2027, however, the cloud segment is projected to grow at the fastest pace.
“North America represents one of the largest markets of Hardware-as-a-Service market”
A comprehensive research was performed for various regions around the globe, including North America (the United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC) and the Rest of the World, in order to get a greater understanding of the business conditions of the Hardware-as-a-Service (HaaS) Market. Because of rising IT investment in countries such as the United States and Canada, North America dominated the industry, capturing about 50% of the market. Furthermore, the region's dominance is due to the participation of long-established players as well as the new technologically updated goods and services.
The Hardware- as-a-Service Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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