by Market Overview:
The global Hardware Support Services Market is estimated to be valued at US$ 1,158.85 billion in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period of 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
One key trend in the Hardware Support Services market is the growing demand for cloud-based support services. The increasing adoption of cloud technology has led to a shift from traditional on-premises hardware infrastructure to cloud-based solutions. This has resulted in the need for support services that cater specifically to cloud-based hardware requirements. Cloud-based support services offer benefits such as efficient resource allocation, scalability, flexibility, and reduced operational costs. Additionally, these services provide remote access to diagnose and troubleshoot hardware issues, leading to faster problem resolution and reduced downtime. As organizations continue to embrace cloud technology, the demand for cloud-based hardware support services is expected to grow significantly in the coming years.
Segment Analysis:
The Hardware Support Services market can be segmented based on type, application, and geography.
Based on type, the Global Hardware Support Services Market can be divided into hardware maintenance support services and hardware installation support services. The hardware maintenance support services segment dominates the market as it includes services such as troubleshooting, repair, and management of hardware components. With the increasing complexity of hardware systems and the growing adoption of high-end technologies, the demand for maintenance support services is expected to rise significantly.
In terms of application, the market can be segmented into healthcare, IT and telecom, manufacturing, retail, and others. The IT and telecom segment dominates the market due to the increasing reliance on technology in these sectors. With the rapid growth of cloud computing, big data, and IoT, the demand for hardware support services in the IT and telecom industry is expected to be high.
Key Takeaways:
The global Hardware Support Services market is expected to witness high growth, exhibiting a CAGR of 9.3% over the forecast period (2023-2030), due to increasing technological advancements and the growing complexity of hardware systems. The market size for 2023 is projected to be US$ 1,158.85 billion.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the Hardware Support Services market. This can be attributed to the presence of major IT and telecom companies in the region, coupled with high adoption of advanced technologies.
Key players operating in the Hardware Support Services market include Dell, IBM, Hewlett Packard Enterprise, Fujitsu, Lenovo, Hitachi, Toshiba, Apple, Samsung, Microsoft, Cisco, HCL Technologies, Wipro, Infosys, Tata Consultancy Services, Tech Mahindra, Unisys, Dimension Data, Getronics, and CompuCom. These key players offer a wide range of hardware support services and have a strong presence in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
