Hardware Support Services Global Market Opportunities and Strategies to 2031

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Dec 07, 2022, 15:15 ET

DUBLIN, Dec. 7, 2022 /PRNewswire/ -- The "Hardware Support Services Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.

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 shut down.

The global hardware support services market reached a value of nearly $912.82 million in 2021, having increased 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, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.

Growth in the historic period in the hardware support services market resulted from the strong economic growth in emerging markets and the low-cost talent pool in emerging markets. Factors that negatively affected growth in the historic period were growth in shortage in components supply and high cost of hardware components.

Going forward, rising demand for cloud-based hardware support services in developing regions, rapid changes in the IT infrastructure and increasing usage of existing products will drive market growth. Factors that could hinder the growth of the hardware support services market in the future include lack of skilled workforce and high cost involved in training service technicians.

The hardware support services market is segmented by type into networking support services, storage and servers support services, computer and peripherals support services, other hardware support services. The networking support services segment was the largest segment of the hardware support services market in 2021 at 85.8% or $783.52 billion. The networking support services segment is expected to be the fastest-growing segment going forward at a CAGR of 11.3% during 2021-2026.

The hardware support services market is also segmented by mode into offline and online. The offline segment was the largest segment of the hardware support services market in 2021 at 94.7% or $864.51 billion. The commercial hardware support services segment is expected to be the fastest-growing segment going forward at a CAGR of 4.2% during 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 at 54.2% or $494.56 billion. The out of warranty hardware support services segment is expected to be the fastest-growing segment going forward at a CAGR of 11.2% during 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 the North America, Asia Pacific and then the other regions. Going forward, Africa and 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. These will be 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 competitors in the market made up to 6.83% of the total market in 2021. Major players in the market are Intel Corporation, Dxc Technology, Dell Technologies Inc, Cisco Systems, Inc., and telefonaktiebolaget lm ericsson.

The top opportunities in the global hardware support service market segmented by type will arise in the Networking Support Services segment, which will gain $552.2 billion of global annual sales by 2026. The top opportunities in the hardware support services market segmented by mode will arise in the offline segment, which will gain $532.7 billion of global annual sales by 2026. The top opportunities in the hardware support services market segmented by warranty type will arise in the in warranty segment, which will gain $308.0 billion of global annual sales by 2026. The hardware support services market size will gain the most in the USA at $134.6 billion.

Market-trend-based strategies for the hardware support services market include strategic mergers and acquisitions, adoption of cloud computing, implementation of predictive maintenance, adoption of green IT, new technological developments.

Player-adopted strategies in the hardware support services market include focus on improving cloud and data center performance through strategic acquisitions, expanding network capabilities across geographies, expanding telecom solutions portfolio to simplify and accelerate open network deployments, delivering enhanced network insights and enabling smarter automation and expanding network services portfolio though introducing new solutions.

To take advantage of the opportunities, the publisher recommends the hardware support services companies to adopt cloud computing, implement predictive maintenance, adopt green IT strategies, use augmented reality and virtual reality technologies, offer at-home services, expand in emerging markets, target regions with high tech funding, offer competitive pricing, focus more on direct-to-consumer (DTC) advertising and target technology companies.

Key Topics Covered:

1. Hardware Support Services Market Executive Summary

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

6. Introduction
6.1.1. Segmentation By Geography
6.1.2. Segmentation By Type
6.1.3. Segmentation By Mode
6.1.4. Segmentation By Warranty Type

7. Hardware Support Services Market Characteristics
7.1. Market Definition
7.2. Segmentation By Type
7.2.1. Computer And Peripherals Support Services
7.2.2. Storage And Servers Support Services
7.2.3. Networking Support Services
7.2.4. Other Hardware Support Services
7.3. Segmentation By Mode
7.3.1. Online
7.3.2. Offline
7.4. Segmentation By Warranty Type
7.4.1. In Warranty
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
9.1.1. Resources
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 are Purchasing Extra Warranty For Their Hardware Products
10.5. Increase in 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. Adoption Of Green IT
11.5. New Technological Developments

12. Impact Of COVID-19 On The Hardware Support Services Market
12.1. Decrease In Demand For Hardware Support Services
12.2. Supply Chain Disruptions
12.3. Alternative Hardware Support Services
12.4. Future Outlook

13. Global Hardware Support Services Market Size And Growth
13.1. Market Size
13.2. Historic Market Growth, 2016 - 2021, Value ($ Billion)
13.2.1. Drivers Of The Market 2016 - 2021
13.2.2. Restraints On The Market 2016 - 2021
13.3. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Billion)
13.3.1. Drivers Of The Market 2021 - 2026
13.3.2. Restraints On The Market 2021 - 2026

14. Hardware Support Services Market, Regional Analysis
14.1. Global Hardware Support Services Market, By Region, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Billion)
14.2. Global Hardware Support Services Market, 2016 - 2026, Historic 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, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Billion)
15.2. Global Hardware Support Services Market, Segmentation By Mode, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Billion)
15.3. Global Hardware Support Services Market, Segmentation By Warranty Type, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Billion)

16. Global Hardware Support Services Market Comparison with Macro Economic Factors
16.1. Hardware Support Services Market Size, Percentage Of GDP, Global
16.2. Per Capita Average Hardware Support Services Market Expenditure, Global
16.3. Hardware Support Services Percentage of GDP, 2021, Major Countries

For more information about this report visit https://www.researchandmarkets.com/r/4tl6qr

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