According to a new market research report published by Credence Research “Global Hardware as a Service (HaaS) Market (Component [Hardware (Desktop/PCs, Laptops, Computer Networking Devices, Storage Devices, Printers & Scanners), Service [Integration & Deployment, Consulting & Training, Support & Maintenance]); Model (Platform as a Service, Desktop/PC as a Service, Infrastructure as a Service, Device as a Service); Deployment (Cloud, On-Premise) Application (Banking, Financial Services, and Insurance (BFSI), Government, Manufacturing, Telecom & IT, Retail, Healthcare, Energy & Utilities, Education, Others)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the hardware as a service (HaaS) market is set to grow with a CAGR of 25.2% during the forecast period.
The hardware as a service (HaaS) market is driven by the increasing digitalization among the organizations. As the adoption of the internet services and advance technologies such as cloud computing and Big Data is rising, the organizations are shifting towards digital infrastructure to gain business agility. The organizations are looking for new ways to reduce the IT infrastructure spending and focusing more on enhancing business performance. This is serving as a major factor driving the demand for hardware as a Service solution among the enterprises.
The growing demand of the managed service providers among the enterprises is also accelerating the adoption of the hardware as a service (HaaS) solution. The managed service providers eliminates the need to buy the hardware and provides pay as you use model for the enterprises, which significantly reduces the cost of operations and provides more flexibility to the business. Moreover, the MSPs also offer periodic updates and maintenance service to the customers. These are the major factors driving the demand for the MSPs among the organizations.
The hardware as a service market is segmented based on the application into banking, financial services, and insurance (BFSI), government, manufacturing, telecom & IT, retail, healthcare, energy & utilities, and education sector. IT & telecom accounted for more than 30% share in the hardware as a service market in 2018. The growth of the market is driven by the growing digitalization among the IT sector. On the other hand, healthcare sector is estimated to grow substantially during the forecast period.
North America accounted for more than 40% share in the hardware as a service (HaaS) market in 2018. However, Asia Pacific’s hardware as a service (HaaS) market is estimated to grow considerably during the forecast period. The increasing adoption of cloud computing technology is estimated to drive the growth of the market. Furthermore, the increasing adoption of hardware as a service solution across the SMEs is also acting as a major driver for the growth of the market.
The major vendors in the hardware as a service (HaaS) market Arrow Electronics, CompuCom Systems, Dell Technologies, Hemmersbach, Hewlett-Packard, Lenovo, Microsoft Corporation, Service IT Direct (Bizbang), SHI International, StarHub, and Telia.
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