Hardware-as-a-Service (HaaS) Market Size (2024 - 2029)

The market size of the Hardware-as-a-Service (HaaS) sector is expected to grow significantly due to factors such as increased digitization, investment in HaaS hardware and services, technical advancements, product innovation, and an increase in cloud infrastructure load. The HaaS model's cost-effectiveness and its provision of managed solutions, including maintenance and support, make it an attractive option for companies. The growth of the HaaS market is also influenced by the rising popularity of on-demand services (XaaS) and increased cloud platform penetration. However, a lack of understanding of the benefits of the HaaS model in developing countries poses a challenge to its expansion. The Covid-19 pandemic has also influenced the HaaS market, with increased demand for hardware components due to the shift to a work-from-home culture.

Market Size of Hardware-as-a-Service (HaaS) Industry

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Hardware-as-a-Service (HaaS) Market Summary
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

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*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.

By Offering
Hardware Model
Platform-as-a-Service
Desktop/PC-as-a-Service
Infrastructure-as-a-Service
Device-as-a-Service
Professional Services
By End-User Industry
Retail/Wholesale
Education
BFSI
Manufacturing
Healthcare
IT and Telecommunication
Other End-User Industries
By Geography
North America
United States
Canada
Europe
Germany
France
United Kingdom
Rest of Europe
Asia Pacific
India
China
Japan
Rest of Asia Pacific
Rest of the World

Hardware-as-a-Service (HaaS) Market Size Summary

The Hardware-as-a-Service (HaaS) market is experiencing significant growth, driven by factors such as the increasing need to adopt new IT solutions, increased digitization, and growing investment in HaaS hardware and services by both small and large-scale enterprises. Technical advancements and product innovation, along with an increasing load on cloud infrastructure, are also influencing the expansion of the HaaS market. The HaaS model is becoming increasingly popular among companies seeking cost-effective ways to acquire technology and service clients in a competitive market. This service offers affordable managed solutions, including maintenance and support, as part of the leasing agreement. The HaaS market is anticipated to grow further as cloud platform penetration increases. The solutions offered are highly affordable, making them suitable for small businesses, thus aiding in the expansion of the global HaaS sector. However, a lack of understanding of the benefits provided by the HaaS model is a fundamental barrier to its adoption, particularly in developing countries. Despite this, the outbreak of COVID-19 and the subsequent rise in remote working have led to an increase in demand for hardware components, indicating potential growth for the HaaS market as it mitigates the risk of complete business shutdown during unforeseen circumstances.

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Hardware-as-a-Service (HaaS) Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Value Chain Analysis

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitutes

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Industry Value Chain Analysis

    5. 1.5 Assessment of the impact of COVID-19 on the Market

    6. 1.6 Market Drivers

      1. 1.6.1 Growing Deployment of Cloud Platform

      2. 1.6.2 Increase attraction of Investments

    7. 1.7 Market Challenges

      1. 1.7.1 Lack of Awareness of benefits from HaaS Model

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Offering

      1. 2.1.1 Hardware Model

        1. 2.1.1.1 Platform-as-a-Service

        2. 2.1.1.2 Desktop/PC-as-a-Service

        3. 2.1.1.3 Infrastructure-as-a-Service

        4. 2.1.1.4 Device-as-a-Service

      2. 2.1.2 Professional Services

    2. 2.2 By End-User Industry

      1. 2.2.1 Retail/Wholesale

      2. 2.2.2 Education

      3. 2.2.3 BFSI

      4. 2.2.4 Manufacturing

      5. 2.2.5 Healthcare

      6. 2.2.6 IT and Telecommunication

      7. 2.2.7 Other End-User Industries

    3. 2.3 By Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 France

        3. 2.3.2.3 United Kingdom

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 Asia Pacific

        1. 2.3.3.1 India

        2. 2.3.3.2 China

        3. 2.3.3.3 Japan

        4. 2.3.3.4 Rest of Asia Pacific

      4. 2.3.4 Rest of the World

Hardware-as-a-Service (HaaS) Market Size FAQs

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.

In 2024, the Hardware-as-a-Service (HaaS) Market size is expected to reach USD 93.65 billion.

Hardware as- a Service Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)