HARDWARE SUPPORT SERVICES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Hardware Support Services Market Size and Trends

The global hardware support services market size is valued at US$ 1.16 Billion in 2024 and is expected to reach US$ 2.4 Billion by 2031, grow at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2031. Hardware support services involve maintenance, troubleshooting, and repair of IT infrastructure like servers, storage, networks, and data center equipment by third-party vendors. These services optimize uptime and extend asset lifespans through solutions like technical support, parts replacement, installations, and managed services.

Hardware Support Services Market Trends:

• Proactive Maintenance: Proactive maintenance is emerging as an influential trend in the global hardware support services market. With proactive maintenance, hardware support companies are shifting their focus from reactive break-fix models to solutions that identify and address issues before they arise. In a 2022 report from the European Commission, companies adopting IoT-enabled condition monitoring saw equipment lifespans increase by 10-20% on average. Hardware and equipment are now able to be maintained in a planned, scheduled manner rather than awaiting failures to occur. This changes the nature of demand on the hardware support services market. With fewer reactive issues arising unexpectedly, support service providers are better able to manage staff workloads and schedules.
• Subscription-Based Models: Many hardware and electronics companies are moving from traditional one-time hardware purchase models to subscription-based approaches. This allows suppliers to retain a long-term connection and guarantee regular upgrades and maintenance, while clients benefit from more flexibility and predictable pricing. Customers appreciate the flexibility to adjust their subscription level up or down as their number of devices fluctuates. This plays an important role in industries like healthcare and education that rely on large networked fleets of devices but have unpredictable replacement cycles. According to data from the U.S. Census Bureau, between 2018 and 2021, shipments of PCs, tablets, and mobile phones from leading manufacturers to K-12 schools increased by over 15% annually on average. The growth and refresh of these device fleets drives new demand for scalable subscription support models among educational institutions.