Hardware support services provide assistance for regular maintenance and issue resolution of hardware devices. They offer on-site and remote support through phone, chat and email for any hardware related issues. This helps enterprises achieve operational efficiency by minimizing downtime and keeping IT infrastructure up-to-date. Hardware support also provides lifecycle management like installation, configuration and decommissioning of end of life equipment.

Market key trends:

The growing adoption of IoT devices is fueling the need for hardware support services. As more organizations automate processes using connected machines and sensors, the volume and complexity of interconnected hardware is increasing exponentially. This is prompting enterprises to outsource regular maintenance and management of IoT infrastructure to hardware support vendors. Moreover, the rising preference for managed services is driving the market growth. Managed hardware support offers proactive monitoring of systems along with support on a subscription basis. It eliminates upfront hardware maintenance costs and provides flexible consumption-based pricing. This billing model is gaining traction among small and medium enterprises.

Porter's Analysis

Threat of new entrants: New entrants face high startup costs to establish service centers and hire skilled service technicians. Bargaining power of buyers: Large buyers have significant bargaining power to negotiate lower service fees. Bargaining power of suppliers: Suppliers face intense competition from diverse pool of hardware manufacturers. Threat of new substitutes: Rise of cloud computing poses threat of substitution. Competitive rivalry: Intense competition amongst existing players.


SWOT Analysis
Strengths: Established after-sales network and customer base. Weaknesses: Rising labor costs and dependence on hardware sales. Opportunities: Growing demand for IT infrastructure and devices. Threats: Commoditization of services and protectionist policies.

Key Takeaways

The Global Hardware Support Services Market Size is expected to witness high growth, exhibiting CAGR of 9.3% over the forecast period, due to increasing digitization across industries. The market size for 2023 is projected to reach US$ 1,158.85 Bn. Asia Pacific dominates the global market with over 40% share in 2023, led by China and India. Rapid economic development and expansion of IT infrastructure are driving demand.

North America is expected to grow at a CAGR of around 8% during the forecast period. Presence of major hardware manufacturers and technology adoption are factors spurring regional growth.

Europe accounts for around 25% share of the global market. Increasing investments in automation by manufacturing industries will support regional demand.

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