the global hardware as a service (HaaS) market the size should go from 108.4 billion USD in 2020 for $295.7 million by 2027, at a CAGR of 18.2% from 2021 to 2027. Hardware as a service is an emerging technology model that helps minimize the maintenance, upgrading, and replacement of enterprise hardware. This service comes with affordable managed solutions with a rental agreement to install the hardware at the customer’s website. The growing adoption of cloud solutions for complex operations is driving the demand for this market. BFSI, IT and telecommunications, the education sector and the government sector require HaaS systems. Growing demand for computer hardware networking services is expected to fuel the revenue growth of this market.
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Global Hardware as a Service (HaaS) Market Dynamics
The Hardware as a Service (HaaS) market has been growing moderately with substantial growth rates over the past few years. The market is estimated to grow significantly over the forecast period, i.e., 2021 to 2027.
The Global Hardware as a Service (HaaS) Market report provides an overall assessment of the market. The information includes various segments and analysis of trends and factors that play a significant role in the market. Market dynamics involves the drivers, restraints, opportunities and challenges through which the impact of these factors on the market is depicted. Drivers and restraints are intrinsic factors while opportunities and challenges are extrinsic market factors. The Global Hardware As A Service (HaaS) Market study provides an outlook on how the market will evolve in terms of revenue throughout the prognosis period.
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The study categorizes hardware-based hardware-as-a-service (HaaS) market model, deployment model, company size, and end user regionally and globally.
By Hardware Model (Revenue, USD Billion, 2017-2027)
- Platform as a service
- Desktop as a service
- Infrastructure as a Service
- A device as a service
By Deployment Model (Revenue, USD Billion, 2017-2027)
By Company Size (Revenue, USD Billion, 2017-2027)
- Large companies
- Small and medium enterprises
By End User (Revenue, USD Billion, 2017-2027)
- Health care
- IT and Telecommunications
By Region (Revenue, USD Billion, 2017-2027)
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)
The retail/wholesale sector holds the largest market share
Adoption of HaaS varies from industry to industry. Of all organizations, Retail/Wholesale organizations have adopted the HaaS model to the greatest extent, followed by Education and Financial Services. This is because retail/wholesale organizations have hundreds or thousands of stores spread across the globe, making it difficult for internal IT teams to service more remote areas.
In 2018, Spiceworks surveyed over 1,100 IT decision makers at organizations in North America and Europe to understand the penetration of the hardware-as-a-service model in the workplace. Survey results showed that approximately 31% of retail/wholesale organizations are already using the HaaS model (one or more device types). An additional 7% of the remaining retailers plan to adopt HaaS over the next two years. Some of the most commonly used services in this model are parts replacement, hardware support, and troubleshooting.
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North America accounts for the highest market share during the forecast period.
Based on regions, the global hardware as a service (HaaS) market has been segmented into North America, Asia-Pacific, Europe, South America, and Middle East & Africa. The North America market is expected to hold the largest HaaS market share over the forecast period owing to the presence of numerous hardware and service solution vendors, high awareness of hardware as a service among users and a large base of existing users. Increased digitalization, underlying embryonic demand, increased investment by small and large companies in HaaS hardware and services, technical advancements and product innovation, and upgrading of research and development are expected to drive the growth of the market in the coming years.
With many small or medium-sized enterprises in countries like China, Taiwan, South Korea, India, and Japan, the Asia-Pacific region is expected to witness the highest growth rate during the forecast period, because the HaaS model is a cost-effective method. for optimal use of computer equipment. Additionally, the region benefits from the presence of several prominent vendors in the hardware market, which is driving the demand for HaaS.
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Main market players
Few players with their product offerings dominate the HaaS market, and the global market is expected to consolidate. Navitas Lease Corporation, FUSE3 Communications, Ingram Micro Inc., Design Data Systems, Inc., Phoenix NAP, LLC, Machado Consulting, Managed IT Solutions, Fujitsu Ltd., Lenovo Group Ltd., Amazon.com, Inc. and Dell Inc. are among the major players present on the studied market. Industry tech giants such as Google, IBM, and Microsoft also offer these services in conjunction with startups to compete in this market as a service.