Dublin, Nov. 28, 2022 (GLOBE NEWSWIRE) — The “Hardware Support Services Global Market Opportunities And Strategies To 2031” report has been added to from ResearchAndMarkets.com offer.
This report provides strategists; marketers and senior management with the critical information they need to assess the Global Hardware Support Services Market as it emerges from the COVID-19 shutdown.
The global hardware support services market reached a value of nearly $912.82 million in 2021, having grown at a compound annual growth rate (CAGR) of 6.35% since 2016. The market is expected to grow from $912.82 million in 2021 to $1,514.85 million in 2026 at a rate of 10.66%. The market is then expected to grow at a CAGR of 9.56% from 2026 and reach $2,391.54 million in 2031.
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This report describes and explains the global Hardware Support Services market and covers 2016-2021 known as historical period and 2021-2026 known as forecast period and other forecasts for the period 2026-2031. The report assesses the market in each region and for the major economies in each region.
The growth over the historical period of the hardware support services market has been driven by strong economic growth in emerging markets and low-cost talent pool in emerging markets. Factors that negatively impacted growth during the historical period were growing shortage of component supply and high cost of hardware components.
In the future, increasing demand for cloud-based hardware support services in developing regions, rapid changes in IT infrastructure, and increasing usage of legacy products will drive the growth of the market. Factors that may hinder the growth of the hardware support services market in the future include lack of skilled labor and high cost of training service technicians.
The hardware support services market is segmented by type into network support services, storage and server support services, computer and peripheral support services, other hardware support services. The network support services segment was the largest hardware support services market segment in 2021 with 85.8% or $783.52 billion. The network support services segment is expected to be the fastest growing segment with a CAGR of 11.3% during the period 2021-2026.
The hardware support services market is also segmented by offline and online mode. The offline segment was the largest segment of the hardware support services market in 2021 with 94.7% or $864.51 billion. The commercial hardware support services segment is expected to be the fastest growing segment with a CAGR of 4.2% during the period 2021-2026.
The hardware support services market is also segmented by warranty type into in-warranty and out-of-warranty. The in-warranty segment was the largest segment of the hardware support services market in 2021 with 54.2% or $494.56 billion. The out-of-warranty hardware support services segment is expected to be the fastest growing segment with a CAGR of 11.2% during the period 2021-2026.
North America was the largest region in the global hardware support services market, accounting for 42.3% of the total in 2021. It was followed by North America, Asia-Pacific, and then other regions . Going forward, Africa and the Middle East will be the fastest growing regions in the hardware support services market, where growth will be at CAGRs of 15.2% and 14.8% respectively. This is followed by Eastern Europe and South America, where the markets are expected to grow at CAGRs of 14.6% and 13.5% respectively.
The hardware support services market is highly fragmented, with a large number of regional and small players. The top ten market competitors accounted for up to 6.83% of the total market in 2021. Major market players include Intel Corporation, Dxc Technology, Dell Technologies Inc, Cisco Systems, Inc., and telefonaktiebolaget lm ericsson.
The major opportunities in the global hardware support services market segmented by type will arise in the network support services segment, which will achieve $552.2 billion in global annual sales by 2026. hardware support services segmented by mode will arise in the offline segment, which will earn $532.7 billion in global annual sales by 2026. Major opportunities in the hardware support services market segmented by warranty type will arise in the in-warranty segment, which will earn $308.0 billion in global annual sales by 2026. The hardware support services market size will grow the most in the United States, to $134.6 billion.
Market trend based strategies for hardware support services market include strategic mergers and acquisitions, adoption of cloud computing, implementation of predictive maintenance, adoption of green IT, new technological developments.
Strategies adopted by players in the hardware support services market include emphasis on improving cloud and data center performance through strategic acquisitions, expanding network capabilities across geographies , expanding the telecommunications solutions portfolio to simplify and accelerate open network deployments, provide enhanced network insights and enable smarter automation, and expand the network services portfolio by introducing new solutions.
To capitalize on opportunities, the publisher recommends that hardware support services companies embrace cloud computing, implement predictive maintenance, adopt green IT strategies, use augmented reality technologies, and virtual reality, offer in-home services, expand into emerging markets, target regions with high-tech financing, offer competitive pricing, focus more on direct-to-consumer (DTC) advertising, and target technology companies.
|Number of pages||479|
|Forecast period||2021 – 2031|
|Estimated market value (USD) in 2021||$912.82 billion|
|Expected market value (USD) by 2031||$2,391.54 billion|
|Compound annual growth rate||10.1%|
Main topics covered:
1. Hardware Support Services Market Summary
2. Table of Contents
3. List of Figures
4. List of tables
5. Structure of the report
6.1.1. Segmentation by geography
6.1.2. Segmentation by type
6.1.3. Segmentation by mode
6.1.4. Segmentation by type of guarantee
7. Features of Hardware Support Services Market
7.1. Market definition
7.2. Segmentation by type
7.2.1. Computer and Peripheral Support Services
7.2.2. Storage and server support services
7.2.3. Network Support Services
7.2.4. Other Hardware Support Services
7.3. Segmentation by mode
7.3.1. On line
7.4. Segmentation by type of guarantee
7.4.2. Out of Warranty
8. Hardware Support Services Market, Product/Service Analysis – Product/Service Examples
9. Hardware Support Services Market, Supply Chain Analysis
9.1.2. Hardware Support Service Providers
9.1.3. Other Support Service Providers
9.1.4. end users
10. Hardware Support Services Market Customer Information
10.1. Growing demand for hardware products
10.2. Cloud Deployment Decision Making
10.3. Moderate increase in demand for hardware equipment
10.4. Consumers purchase additional warranty for their hardware products
10.5. Increased network service troubleshooting
11. Hardware Support Services Market Trends and Strategies
11.1. Strategic mergers and acquisitions
11.2. Adoption of cloud computing
11.3. Implementation of predictive maintenance
11.4. Green IT adoption
11.5. New technological developments
12. Impact of COVID-19 on the Hardware Support Services Market
12.1. Decreased demand for hardware support services
12.2. Supply chain disruptions
12.3. Alternative Hardware Support Services
12.4. Future prospects
13. Global Hardware Support Services Market Size and Growth
13.1. Market size
13.2. Historical Market Growth, 2016 – 2021, Value (USD Billion)
13.2.1. Market drivers 2016 – 2021
13.2.2. Market Constraints 2016 – 2021
13.3. Market Growth Forecast, 2021-2026, 2031F Value ($ Billion)
13.3.1. Market Drivers 2021 – 2026
13.3.2. Constraints on the market 2021 – 2026
14. Hardware Support Services Market, Regional Analysis
14.1. Global Hardware Support Services Market, By Region, Historical & Forecast, 2016-2021, 2026F, 2031F, Value (USD Billion)
14.2. Global hardware support services market, 2016-2026, historical and forecast, by region
14.3. Global Hardware Support Services Market, 2021-2026, Growth and Market Share Comparison, by Region
15. Global Hardware Support Services Market Segmentation
15.1. Global Hardware Support Services Market, Segmentation by Type, History & Forecast, 2016-2021, 2026F, 2031F, Value (USD Billion)
15.2. Global Hardware Support Services Market, Segmentation by Mode, History & Forecast, 2016-2021, 2026F, 2031F, Value (USD Billion)
15.3. Global Hardware Support Services Market, Segmentation by Warranty Type, History & Forecast, 2016-2021, 2026F, 2031F, Value (USD Billion)
16. Global Hardware Support Services Market Comparison with Macroeconomic Factors
16.1. Hardware Support Services Market Size, Percentage of GDP, Global
16.2. Average Per Capita Spending of Hardware Support Services Market, Global
16.3. Hardware Support Services Percentage of GDP, 2021, Top Countries
For more information on this report visit https://www.researchandmarkets.com/r/ndje6m
Global Hardware Support Services Market
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