Press release
Hardware Support Services Market Set to Reach $1486.97 Billion by 2029; CAGR of 7.7% Cited as Key Growth Driver
Hardware Support Services Market Size
What Is The Projected Market Size Of The Global Hardware Support Services Market And Its Growth Rate?
•Market Size in 2024: $1032.21 Billion
•Market Size in 2025: $1103.48 Billion; Growth Rate: 6.9% CAGR
•Projected Market Size in 2029: $1486.97 Billion; Growth Rate: 7.7% CAGR
The anticipated market growth is primarily driven by strong economic performance in emerging markets, cost-effectiveness of the talent pool in these regions, and increased demand for cloud-based hardware support services.
What Is Driving The Growth In The Hardware Support Services Market?
Global government investments in smart city projects play a crucial role in driving the demand for computer hardware products, which in turn propels the hardware support services market. The European Union, for instance, is actively supporting smart-city initiatives, providing funds for research and setting sustainability targets for member states. Developing countries are also embracing the concept of smart cities; China alone has around 500 such projects ready for implementation or already under construction. Such developments will invariably increase the demand for hardware support services.
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Who Are the Key Players Driving Hardware Support Services Market Growth?
•Intel Corporation
•Dxc Technology
•Dell Technologies Inc.
•Cisco Systems, Inc.
•Telefonaktiebolaget lm Ericsson
•Huawei
•NEC Corporation
•International Business Machines Corporation
•Fujitsu Ltd.
•Oracle Corp
What Are The Key Trends In The Hardware Support Services Market?
•Rise in strategic mergers and acquisitions
•Adoption of cloud computing
•Implementation of predictive maintenance
•Adoption of green IT
•New technological developments
What Are The Segments Of The Global Hardware Support Services Market?
•Networking Support Services
•Storage And Servers Support Services
•Computer And Peripherals Support Services
•Other Hardware Support Services
Which Region Leads The Hardware Support Services Market?
As of 2024, Western Europe leads the global hardware support services market, followed by North America. The identified regions include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Hardware Support Services Market Global Market Report?
•Market Size Analysis.
•Market Segmentation Analysis.
•Key Player Focus.
•Growth Trends Analysis.
•Market Contribution.
•Growth Drivers and Industry Challenges.
•Competitive Developments.
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