Hardware-as-a-Service Market to Exceed US$ 300 Billion by 2027 Globally |CAGR 25%| UnivDatos Market Insights

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NOIDA, India, May 12, 2021 /PRNewswire/ -- A comprehensive overview of the Hardware-as-a-Service market is recently added by UnivDatos Market Insights to its humongous database. The Hardware-as-a-Service market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Hardware-as-a-Service market. The Hardware-as-a-Service market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Hardware-as-a-Service market at the global and regional levels. The Global Hardware-as-a-Service market is expected to grow at a CAGR of more than 25% from 2021-2027 to exceed US$ 300 billion by 2027.

Market Overview

The global Hardware-as-a-Service (HaaS) Market is witnessing significant growth on account of escalating digitalization, technological advancement in the hardware, devices, or services, and the rising preference towards cloud adoption, etc. Also, surging investment by the small-medium enterprises in the hardware as a service model due to limit their spending on the infrastructure is leading to the growth of the market. As per a survey by the U.S Based tech company "Spice works", approximately 48% of the SMEs and large organizations in North America and Europe are leasing one or more types of hardware as of 2019. Among these, printers are the most preferred hardware to lease, and around 40%  of organizations lease printers in the workplace, while less than 10 percent lease other types of hardware After printers, the other preferred devices are servers (8%), networking equipment (8%), desk phones (7%), desktops (6%), laptops (6%), smartphones, (5%), or tablets (3%).

Moreover, the adoption of HaaS is on the rise owing to its benefits such as cost savings, easy maintenance, etc. As per Spiceworks, 12% of organizations that lease tablets use the HaaS model to service them as of 2019, and the number was expected to reach 24% by 2020. Moreover,  10% of organizations that lease laptops use HaaS to service them today, and that number is expected to grow to 16% by 2020.

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COVID-19 Impact

COVID-19 pandemic gave a robust boom to the adoption of hardware as a service. Due to the work from home mode operating mode of the companies, the HaaS has witnessed a sharp rise. In a study, it was found that 8% of IT Decision Makers said they would continue IT Capex investment and 55% said they would explore "as-a-service" solutions for either hardware or software. Also, 53% say they will explore a managed service for a turnkey hardware/software solution. Moreover, 24% of IT Decision Makers consume half of the IT solutions 'as-a-service' as of 2019.  After the pandemic, the growth of hybrid workplaces will drive the consumption of 'as-a-service' solutions to 72% over the next 12 to 24 months. Also, the companies launched numerous solutions in COVID-era to make operations easy. For instance:

o  In 2020,  Zoom video launched hardware as a service (HaaS) to help customers scale video conference rooms and phones with budget-friendly hardware options.

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Hardware-as-a-Service Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Components, the market is primarily bifurcated into

• Hardware
• Services

The hardware segment dominated the by product type segment of the Hardware-as-a-Service market and grabbed more than 50% market share in 2019. However, the services segment would witness the highest CAGR in the forthcoming years.  

By Models, the market is primarily segmented into

• Hardware Model
• Platform as a Service
• Desktop/PC as a Service
• Infrastructure as a Service
• Device as a Service
• Professional Services

Amongst hardware models, desktop/PC as a service accounted for the largest share and is expected to maintain the same trend of dominance in the forecast period. However, the Infrastructure as a Service segment would witness a considerable share in 2019.

By Deployment, the market is primarily segmented into

• On-Premise
• Cloud

In 2019, the on-premise segment dominated the global Hardware-as-a-Service market with nearly 61% of the market share and it is anticipated by 2027. However, it is expected that the cloud segment would witness robust growth in the forecast period.  

By Enterprise Size, the market is primarily segmented into

• Small & Medium Enterprises (SMEs)
• Large Enterprises

In 2019, the large enterprises segment dominated the global Hardware-as-a-Service market. However, the small & medium enterprises to witness considerable market share in forthcoming years.

By Application, the market is primarily segmented into

• Government
• Manufacturing
• Telecom & IT
• Retail
• Healthcare
• Energy & Utility
• Education
• Others

In 2019, the retail segment dominated the global Hardware-as-a-Service market with nearly 30% of the market share and it is anticipated by 2027, the segment will dominate the market as well.

Hardware-as-a-Service Market Geographical Segmentation Includes:

• North America
• Europe
• Asia-Pacific
• Rest of the World

Based on the estimation, the North America region dominated the Hardware-as-a-Service market with almost 50%  revenue share in 2019. At the same time, the Asia-Pacific region is expected to grow with the highest CAGR over the forecast period owing to the emergence of new players in the industry coupled with the new offerings of solutions by the players.

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The major players targeting the market includes

• Fujitsu Ltd.
• FUSE3 Communications
• Ingram Micro Inc.
• Navitas Lease Corporation
• Phoenix NAP
• Amazon.com
• Lenovo Group Ltd.
• Machado Consulting
• Design Data Systems, Inc.
• Dell Inc.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Hardware-as-a-Service (HaaS) market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Hardware-as-a-Service market?
• Which factors are influencing the Hardware-as-a-Service market over the forecast period?
• What are the global challenges, threats, and risks in the Hardware-as-a-Service market?
• Which factors are propelling and restraining the Hardware-as-a-Service market?
• What are the demanding global regions of the Hardware-as-a-Service market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

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