Computer And Peripherals Support Services Market Expected to Achieve 5.1% CAGR by 2029: Growth Forecast Insights

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What Is the Expected CAGR for the Computer And Peripherals Support Services Market Through 2025?
In recent times, there has been consistent expansion in the market size of computer and peripherals support services. It is projected to escalate from $38.7 billion in 2024 to $40.32 billion in 2025, with a compound annual growth rate (CAGR) of 4.2%. Factors that have contributed to the growth during the historical period include increased PC penetration rates, expenditure on business IT, business globalization, advancement in software, as well as enhanced customer knowledge and education.

What's the Projected Size of the Global Computer And Peripherals Support Services Market by 2029?
In the coming years, the computer and peripherals support services market is projected to experience robust growth, reaching $49.17 billion in 2029 with a compound annual growth rate (CAGR) of 5.1%. This anticipated growth during the forecast period can be linked to factors such as the influence of remote workforce dynamics, the need for improved cybersecurity, the adoption of cloud computing, implementation of data privacy regulations, and focus on sustainability and green IT. Expected trending activities during this period encompass the adoption of e-commerce and digital transformation, the emergence of new technologies, technological advancements, remote monitoring and management (RMM), and an increase in the use of cloud-based support solutions.

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Top Growth Drivers in the Computer And Peripherals Support Services Industry: What's Accelerating the Market?
The escalating usage of computers is predicted to boost the expansion of the computer and peripheral support service industry in the future. A computer, which is a programmable electronic gadget, takes in raw data as an input, processes it using a specific set of commands (program) to churn out the desired output. The value of computers lies in their capacity to store and retrieve extensive volumes of data that can be later accessed. Therefore, the surge in the application of computers will undoubtedly have a positive effect on the market for computer and peripheral support services. For example, Dell Inc, a US technology firm, declared in a press release in February 2022 that it witnessed a record yearly revenue of $101.2 billion in the fiscal year 2022. This was achieved due to the unparalleled demand, efficient operations, and the expansion of all of its business units, coupled with a record shipment of PCs. This resulted in an operating income of $4.7 billion, a whopping 26% increase, and a non-GAAP operating income of $7.8 billion, a rise of 12%. Therefore, the increasing dependency on computers is catalyzing the growth of the market for computer and peripheral support services.

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What Trends Will Shape the Computer And Peripherals Support Services Market Through 2029 and Beyond?
The trend of product innovation is gaining significant traction in the computer and peripherals support services market. To solidify their standing in the market, leading corporations engaged in computer and peripheral support services are riveted on devising novel solutions. Take, for example, the U.S.-based electronic firm ViewSonic Corporation that launched two ultra-wide 34-inch curved gaming monitors-the ELITE XG341C-2K and the ELITE XG340C-2K-in October 2022. The ELITE XG341C-2K has an optimal curve of 1500R, thus offering more vibrant colours and topping up to a brightness of 1400 nits. Meanwhile, the ELITE XG340C-2K showcases a 1000R curvature with a swift 180Hz refresh rate and a 1 ms response time. The two monitors are equipped with HDMI 2.1 and are capable of supporting video resolution up to 10K.

What Are the Main Segments in the Computer And Peripherals Support Services Market?
The computer and peripherals support services market covered in this report is segmented -

1) By Connectivity: Wired, Wireless
2) By Device Type: Input Devices, Output Devices, Storage Devices
3) By Distribution Channel: Super markets Or Hyper markets, Brand Stores, Online Stores, Other Distribution Channels
4) By End-user: Commercial, Residential

Subsegments:
1) By Wired: USB Connections, Ethernet Connections, Serial And Parallel Connections
2) By Wireless: Wi-Fi Connections, Bluetooth Connections, NFC Connections

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Which Top Companies are Driving Growth in the Computer And Peripherals Support Services Market?
Major companies operating in the computer and peripherals support services market include Apple Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Inc., Hitachi Ltd., Siemens AG, Lenovo Group, accenture* plc, Hewlett-Packard Inc., International Business Machines Corporation(IBM), Cisco Systems Inc., Oracle Corporation, Fujitsu Limited, Canon Inc., NEC Corporation, Tata Consultancy Services Limited, Toshiba Corporation, Cognizant Digital Business, DXC Technology IT Transformation Services, Atos Managed Services, Seiko Epson Corporation, Ricoh Company, Logitech International S.A., Egyptian Maintenance Company (EMC), Wipro Infrastructure Engineering Services

Which Regions Will Dominate the Computer And Peripherals Support Services Market Through 2029?
Asia-Pacific was the largest region in the computer and peripherals support services market in 2024. The regions covered in the computer and peripherals support services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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