Global Hardware as a Service Market Analysis, Drivers, Restraints, Opportunities, Trends, Applications, and Growth Forecast: 2023 – 2033

Global Hardware As A Service Market was valued at USD 108 Billion in 2023 and is reach to USD 794 Billion by 2033 at a CAGR of 22.07%

The global Hardware as a Service market report has been segmented on the basis of form, component, model type, and industry vertical.

Hardware as a Service: An Overview

Hardware as a Service (HAAS) is a procurement model for organizations to rent desktops, laptops, printers, server space, network equipment, memory, CPU cycles, storage space, etc. in accordance with an SLA agreement with the supplier. Hardware as a Service is closely associated with Infrastructure as a Service (IAAS), wherein organizations receive standard, automated and on-demand access to advanced networking infrastructure. Usually, HAAS SLA agreements help organizations to focus on achieving core business objectives by allocating maintenance and up-gradation responsibilities to the Managed Service Providers (MSPs), in exchange for a monthly fee.

Dynamics: Growth Supporting and Restraining Factors of the Industry 

HAAS is gaining increasing prominence worldwide as it allows various industries such as government as well as other private sectors to reduce dependency on human resources and save money and spend little to no time on hardware maintenance duties, which helps to increase focus on other important work. In addition, Hardware as a Service industry is expected to continue to grow at a substantial growth rate in the near future as various end-use industrial verticals including IT, & telecom, BFSI (Banking, Financial, Services, and Insurance), healthcare and education are becoming increasingly dependent on the outsourcing model owing to various benefits offered by Hardware as a Service. Moreover, increasing development and penetration of cloud-based services, online applications, data storage facilities among other technologically advanced platforms and services are expected to boost demand for expert-third party managed service providers to act as a partner and take responsibility for essential technical infrastructure and developments of the organization.

HAAS is especially important to the IT and Telecom sector, which is often required to stay par with modern innovations in order to deliver excellent customer support and to compete fiercely. Demand for adaptation of modern IT equipment is essential for IT and Telecom sectors and consequently, this is expected to result in higher demand for Hardware as a Service MSPs and in turn is expected to boost the growth of the target market to a significant level.

However, there are certain uncertainties and challenges that could hinder the global Hardware as a Service industry between the study period of 2018 – 2028. The growing threat of cybercrimes, data thefts, and low levels of interoperability are major factors that could hamper the growth of the global Hardware as a Service market in the upcoming future.

Segment Analysis

By Component:

Among the component segments, the hardware segment is expected to account for the highest revenue share in the target market.

By Model Type:

Among the model type segments, the desktop/Pc as a Service segment is expected to account for the largest revenue share in the target market, followed by the Infrastructure as a Service segment.

By Industrial Vertical:

Among the industrial vertical segments, the IT & Telecom and BFSI segments are estimated to contribute higher revenue shares in the global Hardware as a Service market

Regional Analysis

The Hardware as a Service market in North America is expected to account for the largest share in the global Hardware as a Service market in terms of value. Higher adoption of new technologies, a growing E-commerce sector, and an increasing number of cloud-based fin-tech companies are factors expected to lead to significant growth of the NA market. Hardware as a Service in the Asia Pacific market is expected to witness the highest growth rate for the hardware as a service industry. Increasing middle-income groups, a large number of young and tech-savvy populations, and a prominent IT industry are factors expected to boost the growth of the APAC market in the upcoming future.

Global Hardware as a Service Market Segmentation:

Global Market Segmentation, by Component

• Hardware
• Computing Devices (Desktops, Laptops)
• Networking Devices (Servers, Switches, Routers, Gateways, Hubs)
• Storage Devices
• Others (Printers, Scanners, etc.)
• Professional Services
• • Consulting & Integration
  • Support and Maintenance

Global Market Segmentation, by Model Type

• Platform as a Service
• Desktop/PC as a Service
• Infrastructure as a Service
• Device as a Service

Global Market Segmentation, by Deployment

• Cloud
• Public
• Private
• On-Premise

Global Market Segmentation, by Organization Size

• Small & Medium Enterprises (SMEs)
• Large Enterprises

Global Market Segmentation, by Industrial Vertical

• BFSI (Banking, Financial, Services, and Insurance)
• IT and Telecom
• Government
• Healthcare
• Education
• Legal
• Construction
• Manufacturing
• Others (Retail, Media and Entertainment, etc.)