Hardware-as-a-service (haas) Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

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Increasing need to adopt new IT solutions, increased digitization, increasing investment of small and large scale enterprises in the HaaS hardware and services, technical advancements and product innovation, and increasing load on cloud infrastructure are some of the major factors influencing the growth of HaaS market.

- HaaS model is emerging as a method of technology acquisition for businesses looking for new ways to serve customers in a competitive market, with minimal pressure on a company's financial operations. The HaaS model is more cost-effective among businesses that frequently replace or upgrade their hardware.

- This offering provides affordable, managed solutions with a rental agreement which also bundles maintenance and support along with that. The client and managed service provider (MSP) agree on some mutual terms to install the hardware at the client's site for which the client either pays a monthly fee for the service.

- The industries are shifting from ownership to on-demand service (XaaS). Cloud computing services are also increasingly attracting investment in the studied market, as data ...
... storage servers and active computing hardware are the components of a remotely provisioned service for users.

- According to the US-based IT company, Spiceworks, 48% of the organizations in North America and Europe are currently leasing one or more types of hardware. Among these, printers are the most preferred hardware to lease. After printers, the other preferred devices are servers (8%), networking equipment (8%), desk phones (7%), desktops (6%), laptops (6%), smartphones, (5%), or tablets (3%).

- With the outbreak of Covid-19, service firms in particular have embraced the work from home culture. This has led to spike in demand for laptops, especially of leased ones of every kind. But, with complete disruption of supply chain and production activities, there is a huge mismatch between demand and supply of hardware components and there is a shortage in the market. With situation getting normal in coming few quarters, HaaS is expected to grow in future as it mitigates the risk of complete shutdown of the business during unforeseen circumstances like Covid-19 pandemic.

Key Market Trends

Retail/Wholesale Sector Holds Largest Share in the Market

- The adoption of HaaS varies from industry to industry. Among all organizations, Retail/wholesale organizations are found to have adopted the HaaS model to a larger extent, followed by Education and Financial services sector. This is due to the fact that Retail/wholesale organizations have hundreds or thousands of stores spread across the world which makes it difficult for the internal IT teams to service more remote areas.

- In 2018, Spiceworks conducted a survey on more than 1,100 IT decision makers in organizations across North America and Europe to understand the penetration of hardware-as-service model in the workplace. The results from the survey showed that around 31% of retail/wholesale organizations already use the HaaS model (one or more types of devices). Additional 7% of the remaining retail businesses are planning to adopt HaaS within the next two years. Some of the most commonly used services in this model are the part replacement, hardware support, and troubleshooting.

Demand from Asia-Pacific is expected to Drive the Growth

- The market in North America is anticipated to hold the largest share of the HaaS market during the forecast period owing to the presence of a large number of hardware solutions and services providers, high awareness about hardware as a service among users, a large base of existing users. Increased digitization, underlying embryonic demand, increasing investment of small and large scale enterprises in the HaaS hardware and services, technical advancements and product innovation, and upgrade of research and development are expected to drive market growth in the coming years.

- With the presence of many small or mid-sized businesses in countries like China, Taiwan, South Korea, India and Japan, Asia-Pacific region is expected to experience highest growth rate during the forecast period since the HaaS model is a cost-effective method for optimal utilization of information technology hardware. Moreover, the region enjoys the presence of several significant vendors in the hardware market, thus driving the market for HaaS.

Competitive Landscape

Few players with their product offerings currently dominate the HaaS market, and the global market is expected to be consolidated in nature. Navitas Lease Corporation, FUSE3 Communications, Ingram Micro Inc., Design Data Systems, Inc., Phoenix NAP, LLC, Machado Consulting, Managed IT Solutions, Fujitsu Ltd., Lenovo Group Ltd., Amazon.com, Inc., and Dell Inc. are some of the major players present in the market studied. Industry tech giants such as Google, IBM, and Microsoft are also offering these services in collaboration with the startups, to compete in this as-a-service market.

- July 2019 - Fujitsu launched Hardware-as-a-Service (HaaS) offering, for helping the business and IT leaders from the significant challenges of limited budgets, ageing equipment, and higher cost for ad-hoc repairs. Users will enjoy more choices and extra productivity using the latest devices in service plans of 36 months. Fujitsu's HaaS service plan starts from HKD 135 / month.

- Feb 2019 - Lenovo has launched a hardware-as-a-service offering, dubbed TruScale. This new global program is said to add flexibility to its channel by retaining current rebate arrangements in addition to offering an opex-driven consumption model. However, it applies only to Lenovo's ThinkSystem servers and ThinkAgile hyper-converged systems.

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