Hardware as a Service (HaaS) Market Assessment Covering Growth Factors and Upcoming Trends

Author : univdatos
Publish Date : 2021-06-02 17:58:07
Hardware as a Service (HaaS) Market Assessment Covering Growth Factors and Upcoming Trends

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 countries).

As per the research report, Global Hardware as a Service 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 escalating need of the business to reduce upfront capital expenses and to allowing businesses to shift allocations from the capital expenditure budget to the operating expense budget. Moreover, the benefits such as a one-stop solution, proactive service model, enhanced business security, scalability, low upfront cost, no need to worry about maintenance, unique applications, etc. are helping in the market growth. Furthermore, technological advancements such as digitalization, IoT, and cloud adoption across industries are leading to the growth of the market in the forecast period.

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Moreover, the growing preference of enterprises to lease the hardware instead of purchasing for the cost savings is contributing to the growth of the market. As per spice works, U.S based tech company as of 2019, 40% of organizations lease printers in the workplace, while less than 10% lease other types of hardware, such as servers (8%), networking equipment (8%), desk phones (7%), desktops (6%), laptops (6%), smartphones, (5%), or tablets (3%). Also, 21% of organizations subscribe to the hardware-as-a-service (HaaS) model for printers, which have been available under the HaaS model longer than many other types of hardware. But less than 5% subscribe to HaaS for other end-user devices, such as desk phones, desktops, laptops, and tablets.

Also, the factors such as Application deployment, Data security services, Patching, and Monitoring, etc. are some of the most common services that are included in HaaS subscription, therefore the end-users are more inclined towards that. As per a survey, 71% of the respondent said that less time/resources required of internal IT staff are the top benefit of the HaaS adoption while 47% said Better troubleshooting/support is the top benefit of HaaS adoption. However, adequate resources to manage devices in-house, lack of control, non-cost-effective, Lack of budget are some of the factors which are acting as the growth hinderer for the market.

The global Hardware- as-a-Service (HaaS) market is highly fragmented. The availability of numerous global and local players across regions makes the industry highly competitive. The key players with a considerable market share in the industry are Fujitsu Ltd., Microsoft Corporation, Ingram Micro Inc., Navitas Lease Corporation, Phoenix NAP, Amazon.com, Lenovo Group Ltd., Machado Consulting, Design Data Systems, Inc., and Dell Inc. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst components, Hardware segment holds the major share”

Based on components, the market is fragmented into Hardware and Services. The Hardware segment dominated the market with a share of more than 52% in 2019 and is expected to maintain its dominance during the forecast period. However, the services segment would witness the highest CAGR during the forecast period owing to the launch of numerous professional and managed services by the players in the industry.

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“Amongst Hardware model, Desktop/PC is expected to dominate the market during the analyzed period”

Based on the market segment by hardware model type, the market is segmented into platform-as-a-service, desktop/pc -as-a-service, infrastructure-as-a-service, device-as-a-service. In 2019, desktop/PC grabbed the major market share and dominated the market. The WFH model by the companies coupled with the launch of new desktop/PC by the manufacturer across the industry is gaining end-users interest and the market is on the rise.

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“Amongst deployment type, the on-premise segment accounts for the highest revenue share”

Based on the market segment by deployment type, the market is segmented into on-premise and cloud. In 2019, the on-premise segment accounted for the highest revenue share by capturing around 68% of the total market. However, the cloud segment is expected to witness the highest CAGR during the forecast period of 2021-27.

“North America represents one of the largest markets of Hardware-as-a-Service market”

For a better understanding of the market dynamics of the Hardware-as-a-Service (HaaS) market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC) and Rest of the World has been conducted. North America dominated the market and grabbed around 50% market share owing to the escalating IT investment in the countries such as the U.S and Canada. Also, the presence of well-established players and the latest technology upgraded products and services make the region dominant across the globe.

Customization Options:

The Hardware as a Service (HaaS) 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.

Category : business

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