Market Size of Hardware-as-a-Service (HaaS) Industry
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Study Period | 2019 - 2029 |
Market Size (2024) | USD 93.65 Billion |
Market Size (2029) | USD 330.82 Billion |
CAGR (2024 - 2029) | 28.71 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
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Hardware as-a Service Market Analysis
The Hardware-as-a-Service Market size is estimated at USD 93.65 billion in 2024, and is expected to reach USD 330.82 billion by 2029, growing at a CAGR of 28.71% during the forecast period (2024-2029).
The increasing need to adopt new IT solutions, increased digitization, increasing investment of small and large-scale enterprises in HaaS hardware and services, technical advancements and product innovation, and increasing load on cloud infrastructure are significant factors influencing the growth of the HaaS market.
- The Haas model is becoming popular for companies searching for new ways to service clients in a cutthroat market to acquire technology with little strain on their financial operations. The Haas approach is more cost-effective when it comes to firms that constantly repair or upgrade their gear. This service offers inexpensive managed solutions and includes maintenance and support as part of the leasing agreement. The hardware installation at the customer's location is agreed upon between the client and managed service provider (MSP), for which the client either pays a monthly charge for the service.
- The hardware as a service (HaaS) market is anticipated to develop as cloud platform penetration increases. The solutions are highly affordable, making them appropriate for small businesses. As a result, it will aid in expanding the worldwide HaaS (hardware as a service) sector.
- On-demand services (XaaS) are replacing ownership in several industries. As data storage servers and active computing gear make up a remotely provided service for consumers, cloud computing services also draw more investment in the sector under study.
- A fundamental barrier to the adoption of the HaaS model and a constraint on its expansion is a lack of understanding of the advantages provided by the hardware-as-a-service approach. As they are unaware of the advantages like lowering the cost of updating, maintaining, and replacing hardware, businesses in developing nations like India, China, Brazil, and Indonesia are less likely to adopt this service model.
- With the outbreak of COVID-19, service firms, particularly, have embraced the work-from-home culture. This has led to a spike in demand for laptops, mainly leased ones of every kind. But, with the complete disruption of the supply chain and production activities, there is a massive mismatch between the demand and supply of hardware components and a need for more in the market. With the situation normal in the coming few quarters, HaaS is expected to grow as it mitigates the risk of a complete business shutdown during unforeseen circumstances like the Covid-19 pandemic.
Hardware as-a Service Industry Segmentation
Hardware belonging to a managed service provider (MSP) is deployed at a customer's location as part of the hardware-as-a-service (HaaS) procurement model, comparable to leasing or licensing. A service level agreement (SLA) outlines the obligations of both parties.
The Hardware-as-a-Service (HaaS) Market is segmented by Offering (Hardware Model and Professional Services), End-user Industry (Retail/Wholesale, Education, BFSI, Manufacturing, Healthcare, and IT and Telecommunication), and Geography. The market sizes and forecasts are provided in terms of value in USD for all the above segments.
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Professional Services |
By End-User Industry | |
Retail/Wholesale | |
Education | |
BFSI | |
Manufacturing | |
Healthcare | |
IT and Telecommunication | |
Other End-User Industries |
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Rest of the World |
Hardware-as-a-Service (HaaS) Market Size Summary
The Hardware-as-a-Service (HaaS) market is poised for significant growth, driven by the increasing demand for innovative IT solutions and the rising trend of digitization across various sectors. This model is gaining traction as businesses seek cost-effective ways to manage their technology needs without the financial burden of ownership. HaaS offers a managed service approach, including maintenance and support, which is particularly appealing to companies that frequently upgrade or repair their hardware. The market is further bolstered by the growing penetration of cloud platforms, making HaaS solutions accessible and affordable for small and medium-sized enterprises. Despite its advantages, the adoption of HaaS is hindered in some developing regions due to a lack of awareness about its benefits, such as reduced costs for hardware updates and maintenance.
The retail sector has emerged as a significant adopter of the HaaS model, driven by the need to manage extensive hardware systems across numerous locations. The pandemic highlighted the importance of HaaS in maintaining business continuity, as it mitigated risks associated with hardware shortages during supply chain disruptions. The Asia-Pacific region is expected to experience the highest growth rate, supported by a large workforce in IT and telecommunications and a burgeoning number of small and medium enterprises. Key players in the HaaS market, including Navitas Lease Corporation, Ingram Micro Inc., and Fujitsu Ltd, are actively expanding their offerings and partnerships to enhance their market presence. The ongoing investments and technological advancements in the sector are set to propel the HaaS market forward, making it a crucial component of modern business operations.
Hardware-as-a-Service (HaaS) Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Value Chain Analysis
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitutes
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1.3.5 Intensity of Competitive Rivalry
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1.4 Industry Value Chain Analysis
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1.5 Assessment of the impact of COVID-19 on the Market
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1.6 Market Drivers
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1.6.1 Growing Deployment of Cloud Platform
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1.6.2 Increase attraction of Investments
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1.7 Market Challenges
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1.7.1 Lack of Awareness of benefits from HaaS Model
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2. MARKET SEGMENTATION
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2.1 By Offering
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2.1.1 Hardware Model
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2.1.1.1 Platform-as-a-Service
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2.1.1.2 Desktop/PC-as-a-Service
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2.1.1.3 Infrastructure-as-a-Service
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2.1.1.4 Device-as-a-Service
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2.1.2 Professional Services
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2.2 By End-User Industry
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2.2.1 Retail/Wholesale
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2.2.2 Education
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2.2.3 BFSI
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2.2.4 Manufacturing
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2.2.5 Healthcare
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2.2.6 IT and Telecommunication
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2.2.7 Other End-User Industries
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 France
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2.3.2.3 United Kingdom
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2.3.2.4 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 Rest of Asia Pacific
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2.3.4 Rest of the World
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Hardware-as-a-Service (HaaS) Market Size FAQs
How big is the Hardware-as-a-Service (HaaS) Market?
The Hardware-as-a-Service (HaaS) Market size is expected to reach USD 93.65 billion in 2024 and grow at a CAGR of 28.71% to reach USD 330.82 billion by 2029.
What is the current Hardware-as-a-Service (HaaS) Market size?
In 2024, the Hardware-as-a-Service (HaaS) Market size is expected to reach USD 93.65 billion.