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The data center and network third party hardware maintenance service market share is expected to increase by USD 2.60 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 13.28%.
The research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by application (large enterprises and small and medium enterprises) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The market report also offers information on several market vendors, including Cisco Systems Inc., Dell Technologies Inc., Equinix Inc., Fujitsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., International Business Machines Corp., Larsen & Toubro Infotech Ltd., Lenovo Group Ltd., Nlyte Software Ltd., Nokia Corp., NTT Communications Corp., Schneider Electric SE, Siemens AG, Sify Technologies Ltd., Vertiv Holdings Co., Capgemini Service SAS, and Kyndryl Inc. among others.
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The rise in data center spending is notably driving the market's growth, although factors such as issues related to data center service outsourcing may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the data center and network third party hardware maintenance service industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Data Center And Network TPM Hardware Service Market Driver
The rise in data center spending is one of the factors driving the market growth. With the development and growth of data centers, the need to manage data center operations efficiently has increased. The cost of downtime at any data center is estimated at nearly $9,000 per minute. Therefore, it is crucial for data center operators to manage data center operations. Datacenter operators choose data center maintenance and support service providers to reduce costs and maintain data center operations. Such factors will drive market growth during the forecast period.
Key Data Center And Network TPM Hardware Service Market Trend
The growth of hyperscale cloud vendors is one of the key third party hardware maintenance service market trends fueling the market growth. With large volumes of data being generated through IoT and big data, the need for large storage space is rising. As storing data on on-premises platforms is capital-intensive, many enterprises have started moving their data to cloud storage by selecting hyperscale cloud service providers. Storage as a service (STaaS) offered by cloud service providers reduces the initial investments required for building infrastructure and hardware implementation. As maintaining data centers in-house can be time-consuming, cloud service vendors are selecting data center maintenance and support service providers that can improve data center reliability and improve the turnaround time from outages. Such factors are expected to drive the growth of the market during the forecast period.
Key Data Center And Network TPM Hardware Service Market Challenge
Issues related to data center service outsourcing are one of the factors hindering the third party hardware maintenance service market growth. Data center and network third party hardware maintenance service providers offer multiple benefits, such as disaster recovery, data backup, managed power distribution, managed load balancing, hardware installation, and maintenance. Owing to such benefits, the adoption of third-party data center services by large enterprises has increased. However, when data center services are outsourced to data center maintenance and support service providers, organizations rely on the service providers' expertise, resources, and services. Organizations cannot modify and customize data center operations whenever required. Such issues will hinder the market growth during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global data center network third party hardware maintenance service market as a part of the global Internet services and infrastructure market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the data center and network TPM service market encompasses successful business strategies deployed by the key vendors. The market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.
Our In-house experts produce extensive information on the value chain and parent market of the data center and network TPM service market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
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33% of the market’s growth will originate from North America during the forecast period. The US is the key market for data center and network third party hardware maintenance services in North America. Market growth in this region will be slower than the growth of the market in Europe and APAC.
The higher investments by hyper-scale cloud providers will facilitate the market's growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The outbreak of COVID-19 propelled the growth of the regional market in 2020 and 2021. For instance, in February 2020, Google LLC made an investment of more than $10 billion in offices and data centers across the US. Such initiatives by key market players will substantially drive the growth of the regional market during the forecast period.
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The market share growth in the large enterprise segment will be significant during the forecast period. The large enterprise segment was the dominant segment of the market in 2021, and it is expected to remain the same during the forecast period. The main factor that drives the growth of the large enterprise segment is the increasing demand for hardware maintenance services, which are essential for smooth workflows in data centers and networks across the enterprise for diverse industries, such as manufacturing, logistics, and banking and finance.
This report provides an accurate prediction of the contribution of all the segments to the growth of the data center and network TPM service market size and actionable market insights on the post-COVID-19 impact on each segment.
Data Center and Network Third Party Hardware Maintenance Service Market Scope |
|
Report Coverage |
Details |
Page number |
128 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.28% |
Market growth 2022-2026 |
$2.60 billion |
Market structure |
Fragmented |
YoY growth (%) |
12.68 |
Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
Performing market contribution |
North America at 33% |
Key consumer countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Cisco Systems Inc., Dell Technologies Inc., Equinix Inc., Fujitsu Ltd., HCL Technologies Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., International Business Machines Corp., Larsen & Toubro Infotech Ltd., Lenovo Group Ltd., Nlyte Software Ltd., Nokia Corp., NTT Communications Corp., Schneider Electric SE, Siemens AG, Sify Technologies Ltd., Vertiv Holdings Co., Capgemini Service SAS, and Kyndryl Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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