Global Hardware-As-A-Service (Haas) Market Is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth
Global Hardware-as-a-Service (HaaS) Market is expected to exceed the market valuation of more than US$ 304 billion by 2027 expanding at a reasonable CAGR of more than 25% during the forecast period (2021-2027). Surging investments in technologies coupled with the increasing digitalization are contributing to the growth of the market. As per Gartner, worldwide IT spending would witness a rise of 4% and is expected to reach US$ 3.8 trillion in 2021.
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With a rise in the investments by small and large-scale enterprises in the HaaS hardware and services, newly launched products are emerging as a growth factor to the industry. Also, a shift from on-premise to cloud platform by the end-users is acting as a growth catalyst to the industry. By 2024, more than 45% of IT spending on system infrastructure, infrastructure software, application software, and business process outsourcing will shift from traditional solutions to the cloud, and 8% of Spending in Key IT Segments Will Shift to the Cloud by 2022, as revealed by Gartner.
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The adoption of the HaaS model owing to several benefits such as increased scalability, improved security, reduced expenses, etc. is also acting as a growth catalyst to the industry. As per a survey by Spiceworks, amongst businesses that have adopted HaaS, 71% said it helps reduce the support burden on internal IT staff and is the top benefit of HaaS while 47% said that HaaS helps in better troubleshooting/support and 43% said that it is Easier setup/maintenance. However, some factors such as lack of budget, security concerns, etc. are the growth hinderer to the industry.
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Based on components, the market is fragmented into Hardware and Services. The Hardware segments grabbed more than 50 % market share in the industry on account of the rising adoption of HaaS across industries such as retail, manufacturing, healthcare, consumer goods, etc., Moreover, the launch of new hardware with new technologies by the companies is adding pace to the market growth of the segment. For instance:
- In 2017, Dell EMC and Ingram Micro, a US-based IT firm have announced the launch of a new Hardware-as-a-Service (HaaS) model in India that comprises hardware and premium services including notebooks, desktops, servers, networking equipment (switches/routers), and tablets
However, the services segment would grow at an astronomical pace during the forecast period owing to the launch of several managed and professional services by the players.
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Based on the Model, the Desktop/ PC as a service model of HaaS model dominated in 2019. The market of these segments would emerge owing to the growing need of organizations towards operating expenses (OPEX) compare to capital expenditure (CAPEX). Also, the benefits such as flexibility and scalability are key factors contributing to the growth of the market. Moreover, the new DaaS (Desktop as a service) offered by the companies would drive the market in the forecast period as well. For instance:
- In 2019, DaaS for Apple was launched by CompuCom. The services would offer Apple hardware with managed services and support for a fixed low monthly fee.
Based on deployment, the market is fragmented into On-premise and Cloud. The on-premise segment dominated the market in 2019 owing to being old technology. However, the companies are shifting from on-premise to cloud platforms and investing more in the cloud infrastructure. Moreover, the spending on public cloud services is forecast to grow 18.4% in 2021 to total US$ 304.9 billion, up from US$ 257.5 billion in 2020. Therefore, the cloud segment would witness the highest growth during the forecast period.
Based on the enterprise size, the market is fragmented into small & medium enterprises and large enterprises. The small enterprises grabbed the major share and dominated the market in 2019. The market of the large enterprise is emerging due to the wide adoption of the HaaS model. However, the high cost associated with the model is acting as the growth hinderer for the market.
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Based on the application, the market is fragmented into government, manufacturing, telecom & IT, retail, healthcare, energy & utility, education, and others. The retail sector grabbed the major market share and dominated the market. As per a report by Sparx, 31% of retail organizations use the HaaS model for one or more types of devices (compared to an overall 24% average), and an additional 7% of retail businesses plan to adopt HaaS within the next 2 years.
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Additionally, the report provides detailed initiatives that are being taken in the field of hardware as a service. The market is classified into distinct regions including North America (the U.S and Canada), Europe (Germany, France, Spain, Italy, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), Rest of the World. North America being an early adopter of technologies grabbed the major market share and dominated the market. However, the APAC region is expected to witness the highest CAGR during the forthcoming years.
Fujitsu Ltd., Microsoft Corporation, Ingram Micro Inc., Navitas Lease Corporation, Phoenix NAP, Amazon.com, Lenovo Group Ltd., Machado Consulting, Design Data Systems, Inc., Dell Inc., etc., are some of the prominent players operating in the global hardware as a service market. Several M&As along with partnerships have been undertaken by these players to develop hardware as a service market.
Global Hardware-as-a-Service Market Segmentation
Market Insight, by Components
Market Insight, by Model
- Hardware Model
- Platform as a Service
- Desktop/PC as a Service
- Infrastructure as a Service
- Device as a Service
- Professional Services
Market Insight, by Deployment
Market Insight, by Enterprise Size
- Small & Medium Enterprises (SMEs)
- Large Enterprises
Market Insight, by Application
- Telecom & IT
- Energy & Utility
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Microsoft Corporation
- Fujitsu Ltd.
- Ingram Micro Inc.
- Navitas Lease Corporation
- Phoenix NAP
- Lenovo Group Ltd.
- Machado Consulting
- Design Data Systems, Inc.
- Dell Inc