Global Hardware Support Services Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

The hardware support services market consists of sales of hardware support services and related goods by entities (organizations, sole traders and partnerships) that provide hardware support services including computer and peripherals support services, storage and servers support services, networking support services and others. Hardware support services may be either a reactive support, preventive-based support, or proactive support.

Global Hardware Support Services Market Size And Drivers:

The global hardware support services market is expected to grow from $728.5 billion in 2020 to $779.3 billion in 2021 at a compound annual growth rate (CAGR) of 6%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1098.5 billion in 2025 at a CAGR of 9%. Governments around the world are investing in the creation of smart cities; this is expected to drive the demand for computer hardware products and subsequently hardware support services market during the forecast period.

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Trends In The Global Hardware Support Services Market

Cloud software solutions have been gaining acceptance from companies across all industries as it eliminated the need for physical storage space required to deploy the software. The cloud is a software delivery method where a vendor hosts a software application in a remote server and customers can access it through the internet. As cloud computing services continue to grow, the demand for cloud data recovery solutions is gathering pace. Disaster recovery tools are particularly needed because the cloud stores data which is prone to cyber and malware attacks. For instance, Kroll Ontrack offers SharePoint and SQL server cloud data recovery solutions.

Global Hardware Support Services Market Segments:
The global hardware support services market is further segmented based on type, mode, warrant type and geography.
By Type: Computer And Peripherals Support Services, Storage And Servers Support Services, Networking Support Services, Other Hardware Support Services
By Mode: Online, Offline
By Warranty Type: In Warranty, Out of Warranty
By Geography: The global hardware support services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe is the largest region in the global hardware support services market, accounting for 49% of the market in 2020.

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Hardware Support Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides hardware support services market overviews, analyzes and forecasts market size and growth for the global hardware support services market, hardware support services market share, hardware support services market players, hardware support services market segments and geographies, hardware support services market’s leading competitors’ revenues, profiles and market shares. The hardware support services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.