Hardware Support Services Market Trends

Growth Drivers

• Higher adoption of technology - Many organizations in the world are dependent on technology to run their businesses and operations. The higher adoption of technology in various sectors from industrial to manufacturing has increased the need for hardware support services to run their day-to-day activities efficiently and effectively.
  
  Additionally, the emergence of advanced technology has created innovative and complex hardware devices that require expertise in the installation and maintenance of these devices. Hardware support services are significant in helping organizations manage complex systems which boost their market growth.
   
• Increasing trend of remote work - The shifting preference towards remote work due to the globalization of businesses where businesses operating across diverse locations have increased the demand for hardware support services. According to a recent report, the share of employees working remotely worldwide increased in recent years, rising from 20% in 2020 to 28% by 2023.
  
  Furthermore, remote workers often face challenges regarding hardware system issues which may hamper the overall performance. In that case, hardware support services address those challenges by preventing hardware failures before they occur, remote monitoring, and remote access solution to ensure the uninterrupted operations of businesses.
   
• Growing focus on creating smart cities - The rapid creation of smart cities which include technologically connected infrastructure and objects increases the need for hardware support services. According to a source, currently, 100 smart cities in India have been identified by the government for development.
  
  Moreover, increasing the government’s initiatives toward the creation and development of smart cities requires hardware products. To manage and maintain these hardware products and systems, the role of hardware support services increases which further expands its market size.

Challenges

• Data privacy and security concerns - There are high risk of data breach and security concerns for businesses because hardware support services mostly operate remotely and have access to users’ devices.  Sharing of private data can lead to misuse which may limit the access of hardware support services and hamper the hardware support services market growth.
  
  Lack of skilled professionals - The shortage of skilled professionals to manage and monitor hardware devices and systems may hinder the market growth of hardware support services.  Additionally, the training cost and recruitment of more skilled professionals to meet the growing demand of businesses regarding hardware support services are challenging.