The 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%

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 Overview:

This helps in reducing downtime and ensuring seamless operations. From IT assets to healthcare equipment, hardware support plays a vital role in smooth functioning of various industries.

Market key trends:

The rise of managed hardware support segment is one of the key trends driving the hardware support services market growth. With growing need to optimize operational efficiency, companies are increasingly outsourcing hardware support to managed service providers. These providers offer remote monitoring and on-site support through dedicated account teams, enabling enterprises to focus on their core business activities. They also provide customizable support plans as per organizational needs and guarantee fast resolution times through global service networks. This has boosted adoption of managed hardware support services.

Segment Analysis

The Global Hardware Support Services Market Size can be segmented into hardware replacement, hardware maintenance, and hardware support services. The hardware maintenance segment dominates the market as it offers comprehensive services to support hardware infrastructure. This includes regular hardware maintenance checks, troubleshooting issues, and repairs & replacements. Businesses rely heavily on hardware infrastructure for their daily operations, making maintenance an integral part of their service-level agreements with vendors.

Key Takeaways

The global hardware support services market is expected to witness high growth, exhibiting a CAGR of 9.3% over the forecast period, due to increasing demand for reducing operational costs and minimizing downtime through preventive maintenance of hardware infrastructure.

Regional analysis - North America dominates the hardware support services market currently, owing to large-scale hardware deployments across industries in the region. Asia Pacific is expected to witness the fastest growth over the forecast period due to the rapid digital transformation of industries in countries like China and India.

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, Getronics, CompuCom. Dell and IBM are currently the market leaders due to their extensive global support infrastructure and long-term partnerships with enterprises.

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