Hardware Asset Management Market Share

APAC Market Forecast

The hardware asset management market in the Asia Pacific region is projected to hold the largest revenue share of 42% by the end of 2036. The Asia Pacific region is a key player in the adoption of Internet of Things (IoT) technologies across various industries. Managing the diverse array of connected devices requires specialized HAM solutions capable of handling the unique challenges posed by IoT deployments. According to a report, the number of connected IoT devices in the Asia Pacific region is expected to reach 11.3 billion by 2030. Environmental sustainability is gaining prominence in the Asia Pacific region, and organizations are increasingly adopting green IT practices. HAM solutions contribute to sustainability efforts by facilitating responsible disposal, recycling, and reducing electronic waste (e-waste) in hardware asset management. The Asia Pacific region has witnessed an increase in cyber threats, prompting organizations to prioritize cybersecurity measures.

North American Market Statistics

The hardware asset management market in the North America region is projected to hold the second largest share during the forecast period. North America operates in a regulatory landscape that emphasizes data protection and cybersecurity. The need to comply with standards such as GDPR, HIPAA, and SOX places a significant burden on organizations to manage and secure their hardware assets. HAM solutions offer a systematic approach to ensure compliance, leading to increased adoption. The prevalence of cybersecurity threats in North America has intensified the focus on securing IT infrastructure, including hardware assets. HAM solutions contribute by providing visibility into the hardware landscape, aiding in vulnerability assessments, and enhancing overall cybersecurity posture. The shift towards remote work, accelerated by global events, has reshaped the way organizations manage their hardware assets. HAM solutions are crucial in tracking and securing dispersed hardware assets, ensuring compliance, and optimizing resource usage in the context of the widespread adoption of remote work. North American organizations are increasingly migrating their IT infrastructure to the cloud, seeking scalability, flexibility, and cost-efficiency.