Global Hardware Asset Management (HAM) Market Overview
In 2022, the global Hardware Asset Management (HAM) market stood at USD 24.8 Billion and is projected to attain a valuation of USD 60.9 Billion by 2030, expanding at a CAGR of 13.70% from 2023 to 2030.
- Software accounted for a dominating 54.85% of the market revenue in 2022.
- The remaining demand was met by the service segment.
By Enterprise Size
- Large enterprises lead the HAM market demand.
- Small and Medium-sized Enterprises (SMEs) are poised for significant growth.
- IT and telecommunication sector holds the majority market share.
- The healthcare segment is forecasted to experience the highest growth rate during the projected period.
- Other sectors like government and public sector, manufacturing, retail, and e-commerce are anticipated to witness substantial expansion.
- North America contributed to nearly 40% of the global HAM market in 2022.
- Asia Pacific is the fastest-growing region.
- The remainder of the demand is distributed across Latin America, the Middle East, and Africa.
Market Drivers and RestraintsThe surging demand for HAM solutions can be attributed to the growing popularity of cloud computing, and the increasing necessity for asset visibility and control. However, a lack of understanding and awareness regarding the advantages of asset management solutions, coupled with the absence of standardization, remains a challenge.
- Cloud Computing: There’s a shift towards cloud-based asset management solutions, owing to their advantages such as cost-efficiency and scalability.
- Internet of Things (IoT): The adoption of IoT devices is on the rise, which, in conjunction with HAM solutions, can provide businesses with valuable real-time data and analytics.
- North America: The region’s HAM market strength stems from the presence of leading IT corporations and a high adoption rate of new technologies.
- Europe: Driven by increasing cloud computing adoption and wide-ranging industry demand, countries like Germany, the UK, and France are likely to boost the European HAM market.
- Asia Pacific: With the increasing use of cloud computing and the rise of industries like healthcare, retail, and manufacturing, nations like China, Japan, and India are projected to significantly influence the HAM market.
Key Market Challenges
- Awareness & Comprehension: Companies need to be more educated about the benefits of HAM solutions.
- Lack of Standardization: The HAM industry needs unified standards to ensure interoperability and consistent data management.
The global HAM market is fiercely competitive with several key players. Some dominant names include:
- Dell Inc.
- Microsoft Corporation
- IBM Corporation
- BMC Software Inc.
- HP Inc.
- ServiceNow Inc.
- Oracle Corp.
- And others.
By providing this comprehensive insight, Credence Research aims to furnish businesses with valuable data to make informed market decisions.
Our Free Sample Report Consists of the following:
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Key questions answered in this report:
- What will the market size be in 2030, and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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By Enterprise Size
- Large Enterprises
- Small-and Medium-sized Enterprises (SMEs)
- IT and Telecommunications
- Banking, Financial Services and Insurance (BFSI)
- Retail and e-commerce
- Government and Public Sector
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