Hardware as a Service (HaaS) Market to Reflect a Holistic Expansion during the Assessment Period 2021–2027

Description

The global hardware as a service (HaaS) market size is expected to grow from USD 108.4 billion in 2020 to USD 295.7 million by 2027, at a CAGR of 18.2% from 2021 to 2027. Hardware as a Service is an emerging technology model that helps minimize the company's maintenance, up-gradation, and replacement of hardware. This service comes with affordable managed solutions with a rental agreement to install the hardware at the client's website. The growing adoption of cloud solutions for complex operations drives demand for this market. BFSI, IT and telecom, the education sector, and the government sector demand HaaS systems. The growing demand for computer hardware networking services is expected to fuel the revenue growth for this market.

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Global Hardware as a Service (HaaS) Market Dynamics
The hardware As A Service (HaaS) Market has been growing moderately with substantial growth rates over the last few years. It is estimated that the market will grow significantly in the forecasted period, i.e., 2021 to 2027.

The Global Hardware As A Service (HaaS) Market report provides a holistic evaluation of the market. The information comprises various segments and an analysis of the trends and factors that are playing a substantial role in the market. The market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors, whereas opportunities and challenges are extrinsic factors of the market. The Global Hardware As A Service (HaaS) Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.

Scope of the Report
The study categorizes the Hardware as a Service (HaaS) market-based hardware model, deployment model, enterprise size, and end-user at the regional and global levels.

By Hardware Model (Revenue, USD Billion, 2017-2027)
Platform as a Service
Desktop as a Service
Infrastructure as a Service
A device as a Service
By Deployment Model (Revenue, USD Billion, 2017-2027)
On-premise
Cloud
By Enterprise Size (Revenue, USD Billion, 2017-2027)
Large Enterprises
Small and Medium Enterprises
By End-User (Revenue, USD Billion, 2017-2027)
BFSI
Healthcare
IT and Telecommunication
Others
By Region (Revenue, USD Billion, 2017-2027)
North America (US, Canada, Mexico)
South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
Retail/Wholesale Sector Holds Largest Share in the Market
The adoption of HaaS varies from industry to industry. Among all organizations, Retail/wholesale organizations have adopted the HaaS model to a more significant extent, followed by the Education and Financial services sector. This is due to the fact that Retail/wholesale organizations have hundreds or thousands of stores spread across the world, which makes it difficult for the internal IT teams to service more remote areas.

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In 2018, Spiceworks surveyed more than 1,100 IT decision-makers in organizations across North America and Europe to understand the penetration of the hardware-as-service model in the workplace. The results from the survey showed that around 31% of retail/wholesale organizations already use the HaaS model (one or more types of devices). An additional 7% of the remaining retail businesses plan to adopt HaaS within the next two years. Some of the most commonly used services in this model are part replacement, hardware support, and troubleshooting.

North America accounts for the highest market share during the forecast period.
Based on the regions, the global Hardware as a Service (HaaS) market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. The market in North America is anticipated to hold the largest share of the HaaS market during the forecast period due to the presence of many hardware solutions and services providers, high awareness about hardware as a service among users, and a large base of existing users. Increased digitization, underlying embryonic demand, increasing investment of small and large scale enterprises in the HaaS hardware and services, technical advancements and product innovation, and upgrade of research and development are expected to drive market growth in the coming years.

With many small or mid-sized businesses in countries like China, Taiwan, South Korea, India, and Japan, the Asia-Pacific region is expected to experience the highest growth rate during the forecast period since the HaaS model is a cost-effective method for optimal utilization of information technology hardware. Moreover, the region enjoys the presence of several significant vendors in the hardware market, thus driving the demand for HaaS.

Key Market Players
Few players with their product offerings dominate the HaaS market, and the global market is expected to be consolidated. Navitas Lease Corporation, FUSE3 Communications, Ingram Micro Inc., Design Data Systems, Inc., Phoenix NAP, LLC, Machado Consulting, Managed IT Solutions, Fujitsu Ltd., Lenovo Group Ltd., Amazon.com, Inc., and Dell Inc. are some of the major players present in the market studied. Industry tech giants such as Google, IBM, and Microsoft are also offering these services in collaboration with the startups to compete in this as-a-service market.

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Recent Development
In July 2019 - Fujitsu launched a Hardware-as-a-Service (HaaS) offering for helping the business and IT leaders from the significant challenges of limited budgets, aging equipment, and higher cost for ad-hoc repairs. Users will enjoy more choices and extra productivity using the latest devices in service plans of 36 months. Fujitsu's HaaS service plan starts from HKD 135 / month.
In Feb 2019 - Lenovo launched a hardware-as-a-service offering, dubbed "TruScale." This new global program is said to add flexibility to its channel by retaining current rebate arrangements and offering an open-driven consumption model. However, it applies only to Lenovo's ThinkSystem servers and ThinkAgile hyper-converged systems.
Key Issues Addressed

What is the market size by various segmentation of the Hardware as a Service (HaaS) by region and its respective countries?
What are the customer buying behavior, key takeaways, and Porter's five forces of the Hardware as a Service (HaaS) market?
What are the key opportunities and trends for manufacturers involved in the Hardware as a Service (HaaS) supply chain?
What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
What and how are regulations, schemes, patents, and policies impacting the growth of the market?
What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
The market player positioning, top winning strategies by years, company product developments, and launches will be?
How has COVID-19 impacted the demand and sales of Hardware as a Service (HaaS)s in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.

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