by Hardware support services include preventive and corrective maintenance services as well as technical support services for IT hardware infrastructure across servers, desktops, laptops, tablets, thin clients, networking devices and storage equipment to organizations. These services include hardware maintenance, repair, and replacement services as well as proactive maintenance and monitoring to ensure continuous access and functionality of IT infrastructure. With growing digitalization and use of advanced technologies across industries, there has been a significant rise in the demand for efficient management of complex IT infrastructure from hardware devices deployed across organizations. This has propelled the need to outsource support and maintenance of IT hardware to specialist-managed service providers, thus driving growth of the global hardware support services market.
The global Hardware Support Services Market is estimated to be valued at US$ 1,158.85 Bn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Increasing Demand for IT Infrastructure Management – Digital transformation across industries has resulted in increasing deployment of complex and large scale IT infrastructure within organizations. Managing and maintaining this critical infrastructure in-house requires specialized skills and resources which most large and small businesses lack. This has boosted the demand for outsourcing hardware maintenance and support requirements to specialist-managed service providers. Their experience and expertise helps organizations achieve optimized performance while ensuring business continuity through proactive monitoring and reduced downtime of devices.
Another key driver propelling the hardware support services market is technology modernization activities across enterprises. Constant technology upgradation leads to the procurement of newer generations of hardware devices requiring support. It becomes challenging for in-house teams to provide support for both old and new systems simultaneously. Outsourcing support to external vendors with resources skilled across various technology domains helps organizations seamlessly manage technology changeovers as well as provide consistent services.
Segment Analysis
The hardware support services market is broadly segmented into hardware replacement, hardware maintenance, and hardware support services. The hardware maintenance segment is expected to dominate the market and hold the largest market share during the forecast period. This is due to the need for scheduled maintenance of hardware equipment installed at end-user locations to keep them running optimally and avoid unexpected failures. Hardware maintenance services help organizations avoid unplanned downtime that can impact business productivity.
PEST Analysis
Political: Growth of the hardware support services market is expected to be driven by government initiatives promoting digitalization and technological adoption across industries. Governments are investing in developing digital infrastructure to support emerging technologies.
Economic: Stable economic growth is boosting IT spending across industries. The growing deployment of hardware systems is increasing the need for support and maintenance services. Outsourcing of hardware support services also helps reduce capital expenditure and operational costs for organizations.
Social: Increasing mobile and internet penetration is driving the usage of portable computing devices. This is positively impacting the sales of consumer electronics like PCs, laptops, and smartphones, thereby increasing demand for associated support services.
Technological: Advancements in technologies like cloud computing, AI, and IoT are fueling greater adoption of hardware systems. At the same time, evolving technologies require routine equipment maintenance and upgrades to ensure optimal performance.
Key Takeaways
The global Hardware Support Services Market Share is expected to witness high growth over the forecast period supported by increasing IT spending worldwide. From a regional perspective, North America dominated the market in 2023 and is expected to continue its strong position during the forecast period driven by early technology adoption in the region. Asia Pacific is projected to be the fastest growing regional market due to growing digitization initiatives by governments and expanding IT infrastructure in the region’s emerging economies.
Key players operating in the hardware support services market are 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, and Getronics and CompuCom. Dell, IBM, and HP Enterprise hold the leading market positions owing to their strong global presence and comprehensive service support portfolios. Companies are focusing on partnerships with hardware OEMs and system integrators to expand their global footprints.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
