The Business Research Company’s Hardware Support Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, May 31, 2021 /EINPresswire.com/ — 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. The European Union is actively promoting smart-city initiatives, with funds for research and sustainability targets for member states. The concept of smart cities is becoming more popular in developing nations too. For instance, more than 1,000 smart city pilot projects are either ready for or are under construction globally and around 500 of these projects are in China. The overall smart-city experience involves systems and objects interconnected through various technologies like local, wired and wireless networks. The establishment of smart cities in turn increases the demand for the hardware support services.
Western Europe is the largest region in the global hardware support services market, accounting for 49% of the market in 2020. North America is the second largest region, accounting for 28% of the global market. Africa is the smallest region in the global hardware support services market.
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The global hardware support services market size is expected to grow from $728.5 billion in 2020 to $779.3 billion in 2021 at a compound annual growth rate (CAGR) of about 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%.
Major companies in the hardware support industry include HP, IBM, Computer Sciences Corporation (CSC).
The global hardware support services market is segmented by type into computer and peripherals support services, storage and servers support services, networking support services, other hardware support services, by mode into online, offline, and by warranty type into in warranty, out of warranty.
Hardware Support Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides hardware support services market overview, forecast hardware support services market size and growth for the whole market, hardware support services market segments, and geographies, hardware support services market trends, hardware support services market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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