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Recording a y-o-y growth of 9.9%, the North America hardware asset management industry size reached US$ 9,356.03 million in 2023 and is expected to total US$ 10,380.23 million by 2024. Demand for hardware asset management solutions in the region is expected to rise at 11.9% CAGR during the forecast period.
The latest report predicts North America will remain the most lucrative pocket for hardware asset management solutions providers globally. By 2034, North America industry revenue is projected to total US$ 31,403.23 million.
North America Hardware Asset Management Industry Forecast
Attributes | Key Insights |
---|---|
Base Value (2023) | US$ 9,356.03 million |
Estimated North America Hardware Asset Management Industry Value (2024) | US$ 10,380.23 million |
Projected North America Hardware Asset Management Industry Revenue (2034) | US$ 31,403.23 million |
Value CAGR (2024 to 2034) | 11.9% |
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The hardware asset management industry in North America experienced a CAGR of 8.5% from 2019 to 2023. It attained a total valuation of US$ 9,356.03 million at the end of 2023.
Over the forecast period, the North America hardware asset management industry is expected to thrive at a CAGR of 11.9%. It will likely reach a valuation of US$ 10,380.23 million. Continued digitization of businesses, advancements in IoT and AI technologies, and an increasing focus on data security and compliance are key factors expected to boost the target industry.
Semi-annual Update
Particular | Value CAGR |
---|---|
H1 | 11.7% (2023 to 2033) |
H2 | 12.0% (2023 to 2033) |
H1 | 11.8% (2024 to 2034) |
H2 | 12.2% (2024 to 2034) |
The North America hardware asset management industry is likely to be impacted by the peer or tangential industries in the technology division. These include the enterprise asset management industry and the fixed asset management software sector.
North America Hardware Asset Management Industry Analysis:
Attributes | North America Hardware Asset Management Industry Analysis |
---|---|
CAGR (2024 to 2034) | 11.9% |
Growth Factor | Rising adoption of hardware asset management solutions across diverse industries is expected to boost growth of the hardware asset management market in North America. |
Hardware Asset Management Industry Trends in North America | Growing popularity of edge computing, rising interest in IoT-enabled asset tracking, and increasing remote work culture are key trends shaping the hardware asset management industry in North America. |
Global Enterprise Asset Management Industry Analysis:
Attributes | Global Enterprise Asset Management Industry Analysis |
---|---|
CAGR (2024 to 2034) | 7.1% |
Growth Factor | Increasing penetration of IoT-enabled devices is expected to foster growth of the enterprise asset management industry. |
Key Enterprise Asset Management Industry Trend | A key growth-shaping trend is the rising popularity of cloud enterprise asset management. |
Fixed Asset Management Software Industry Analysis:
Attributes | Fixed Asset Management Software Industry Analysis |
---|---|
CAGR (2024 to 2034) | 10.6% |
Growth Factor | Rapid penetration of Industry 4.0 and growing popularity of cloud computing are expected to provide impetus for the growth of fixed asset management software industry. |
Fixed Asset Management Software Industry Trends | Rising adoption of IoT-based services will likely foster growth. |
The table section highlights growth projections in leading North America’s countries. The United States is expected to retain its dominance during the assessment period, while Mexico will likely register faster growth.
Countries | Projected CAGR (2024 to 2034) |
---|---|
United States | 11.1% |
Mexico | 14.8% |
Canada | 14.1% |
The United States hardware asset management industry is expected to rise at 11.1% CAGR during the forecast period, reaching a valuation of about US$ 23,277.70 million by 2034. This can be attributed to factors like:
The United States’ robust industrial infrastructure provides fertile ground for the development and deployment of sophisticated hardware asset management tools. These solutions help industries such as finance, healthcare, manufacturing, and technology to manage hardware assets efficiently and effectively.
Rising need for complying with regulations like HIPAA and GDPR is prompting industries across the United States to employ hardware assessment management solutions. This will likely boost growth of the hardware assessment management industry in the United States through 2034.
High adoption of cloud computing in the United States is leading to a surge in the number of IT assets that businesses need to manage. This is expected to drive demand for efficient and scalable hardware management solutions during the forecast period.
Industries in the United States demand versatile and scalable hardware asset management solutions. As a result, top companies in the nation are constantly innovating to offer novel solutions. This will likely improve the United States hardware asset management industry share.
The hardware asset management industry size in Mexico is expected to reach US$ 3,270.25 million in 2034. Overall demand for hardware asset management solutions in Mexico will likely rise at an impressive CAGR of 14.8% during the forecast period. This is due to factors like:
As businesses in Mexico recognize the need to track and manage hardware assets, the demand for advanced asset management solutions increases. This increase in demand can be attributed to the growing understanding that effective asset tracking not only increases operational efficiency but also contributes to cost efficiency and safety.
Hardware asset management solutions help businesses across Mexico optimize hardware utilization, extend the life of assets, and reduce downtime. This will continue to propel their demand amid rising emphasis on cost reduction and enhanced efficiency.
The section below shows the software segment dominating the hardware asset management industry across North America. It is set to expand at 10.3% CAGR through 2034. Based on enterprise size, the medium-sized enterprise segment is estimated to progress at a CAGR of 14.7%. By industry, the finance segment will likely exhibit a higher CAGR of 15.1% over the forecast period.
Growth Outlook by Solution
Solution | Value CAGR |
---|---|
Software | 10.3% |
Services | 13.6% |
Based on solution, the software segment is set to dominate the North America industry, holding a share of 55.4% in 2024. This is attributable to increasing reliance on software-based solutions for efficient tracking, monitoring, and management of hardware assets.
Demand for hardware asset management software is anticipated to increase at a CAGR of 10.3% during the assessment period. It will likely total US$ 5,750.81 million by the end of 2024.
On the other hand, the hardware asset management services segment is expected to expand at a robust CAGR of 13.6% through 2034. This is due to rising demand for managed services and evolving industry requirements.
Growth Outlook by Enterprise Size
Enterprise Size | Value CAGR |
---|---|
Small Offices (1 to 9 employees) | 9.3% |
Small Enterprises (10 to 99 employees) | 13.0% |
Medium-sized Enterprise (100 to 499 employees) | 14.7% |
Large Enterprises (500 to 999 employees) | 11.3% |
Very Large Enterprises (1,000+ employees) | 10.5% |
As per the latest analysis, the medium-sized enterprise (100 to 499 employees) segment is projected to grow at a CAGR of 14.7% during the forecast period. This is due to increasing adoption of advanced asset management solutions by medium-sized enterprises.
Growth Outlook by Industry
Industry | Value CAGR |
---|---|
Finance | 15.1% |
Manufacturing & Resources | 11.3% |
Distribution Services | 8.1% |
Services | 14.0% |
Public Sector | 5.2% |
Infrastructure | 6.6% |
As per the latest report, the finance industry will likely emerge as the leading end-use industry for hardware asset management solutions, exhibiting a CAGR of 15.1%. This is because financial institutions in North America prioritize advanced asset-tracking tools for operational resilience, security, and compliance in a digital landscape.
Key players are focusing on providing tailored hardware asset management solutions to meet the specific needs of their clients.
Key Strategies Adopted by the Players
Key players are investing in research and development to create cutting-edge hardware asset management solutions that offer improved efficiency, security, and scalability. They are continuously launching new software and services to meet the evolving needs of businesses in North America, incorporating technologies like AI, cloud integration and sustainable energy solutions.
Several hardware asset management providers adopt strategies like mergers and acquisitions to expand their customer bases.
Key Developments in the North America Hardware Asset Management Industry
The target industry value is set to total US$ 10,380.23 million in 2024.
The hardware asset management industry size is expected to reach US$ 31,403.23 million by 2034.
Demand in North America is set to rise at 11.9% CAGR through 2034.
Finance industry will likely remain leading end-user, holding 29.6% share in 2024.
Medium-sized enterprise segment is expected to rise at 14.7% CAGR through 2034.
Microsoft Azure, IBM Cloud, Oracle, Dell, HP and Broadcom.
HAM is used to effectively manage hardware assets.
It is the process of tracking, managing, & optimizing the lifecycle of an organization’s physical IT components.
1. Executive Summary 1.1. North America Industry Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Analysis and Recommendations 2. Industry Overview 2.1. Industry Coverage / Taxonomy 2.2. Industry Definition / Scope / Limitations 2.3. Key Industry Trends 3. Pricing Analysis 3.1. Pricing Analysis 3.2. Average Pricing Analysis Benchmark 4. Industry Background 4.1. Macro-Economic Factors 4.2. Forecast Factors - Relevance & Impact 4.3. Value Chain 4.4. COVID-19 Crisis - Impact Assessment 4.4.1. Current Statistics 4.4.2. Short-Mid-Long Term Outlook 4.4.3. Likely Rebound 4.5. Industry Dynamics 4.5.1. Drivers 4.5.2. Restraints 4.5.3. Opportunities 5. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, By Solution 5.1. Introduction / Key Findings 5.2. Historical Industry Size (US$ million) Analysis By Type, 2019 to 2023 5.3. Current and Future Industry Size (US$ million) Analysis and Forecast By Type, 2024 to 2034 5.3.1. Software 5.3.1.1. Standalone Software 5.3.1.2. Integrated Software 5.3.2. Services 5.3.2.1. Asset Maintenance & Repair Services 5.3.2.2. Asset Tracking & Monitoring 5.3.2.3. Consulting Services 5.3.2.4. Managed Services 5.4. Industry Attractiveness Analysis By Type 6. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, By Asset Type 6.1. Introduction / Key Findings 6.2. Historical Industry Size (US$ million) Analysis By Asset Type, 2019 to 2023 6.3. Current and Future Industry Size (US$ million) Analysis and Forecast By Asset Type, 2024 to 2034 6.3.1. Desktops/PCs 6.3.2. Laptops 6.3.3. Routers 6.3.4. Storage Drives 6.3.5. Workstations 6.3.6. Servers 6.3.7. Other IT Hardware Assets 6.4. Industry Attractiveness Analysis By Deployment 7. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, Enterprise Size 7.1. Introduction / Key Findings 7.2. Historical Industry Size (US$ million) Analysis By Type, 2019 to 2023 7.3. Current and Future Industry Size (US$ million) Analysis and Forecast By Type, 2024 to 2034 7.3.1. Small Offices (1 to 9 employees) 7.3.2. Small Enterprises (10 to 99 employees) 7.3.3. Medium-sized Enterprise (100 to 499 employees) 7.3.4. Large Enterprises (500 to 999 employees) 7.3.5. Very Large Enterprises (1,000+ employees) 7.4. Industry Attractiveness Analysis By Type 8. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, By Industry 8.1. Introduction / Key Findings 8.2. Historical Industry Size (US$ million) Analysis By Industry, 2019 to 2023 8.3. Current and Future Industry Size (US$ million) Analysis and Forecast By Industry, 2024 to 2034 8.3.1. Finance 8.3.1.1. Banking 8.3.1.2. Insurance 8.3.1.3. Investment/Securities 8.3.2. Manufacturing & Resources 8.3.2.1. Discrete Manufacturing 8.3.2.2. Process Manufacturing 8.3.2.3. Resource Industries 8.3.2.4. Agriculture 8.3.3. Distribution Services 8.3.3.1. Retail 8.3.3.2. Wholesales 8.3.3.3. Transportation /Logistics Services 8.3.3.4. Warehousing & Storage 8.3.3.5. Shipping 8.3.4. Services 8.3.4.1. IT/Professional Services 8.3.4.2. Cloud Services 8.3.4.3. Media, Entertainment & Publishing 8.3.4.4. Travel & Hospitality 8.3.4.5. Legal Services 8.3.5. Public Sector 8.3.5.1. Government (State/Central) 8.3.5.2. Education 8.3.5.3. Healthcare 8.3.5.4. Aerospace & Defense 8.3.5.5. Non-profit 8.3.6. Infrastructure 8.3.6.1. Telecommunication 8.3.6.2. Data Centers 8.3.6.3. Energy & Utilities 8.3.6.4. Building & Construction 8.4. Industry Attractiveness Analysis By Industry 9. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Introduction / Key Findings 9.2. Historical Industry Size (US$ million) Analysis By Country, 2019 to 2023 9.3. Current and Future Industry Size (US$ million) Analysis and Forecast By Country, 2024 to 2034 9.3.1. United States 9.3.2. Canada 9.3.3. Mexico 9.4. Industry Attractiveness Analysis By Industry 10. Industry Structure Analysis 10.1. Industry Analysis by Tier of Companies 10.2. Industry Share Analysis of Key Vendors 11. Competition Analysis 11.1. Competition Dashboard 11.2. Competition Deep Dive 11.2.1. Business Overview 11.2.2. Solution Portfolio 11.2.3. Go-To-Industry Approach & Strategies 11.2.4. Recent Developments (Partnerships, Mergers) 11.3. Hardware Vendors in North America 11.3.1. Microsoft Azure 11.3.2. IBM Cloud 11.3.3. Oracle 11.3.4. Dell 11.3.5. HP 11.3.6. Broadcom 11.3.7. BMC Software 11.3.8. Service Now 11.3.9. Flexera Software 11.3.10. Ivanti 11.3.11. Solar Winds 11.3.12. Freshworks Inc. 11.3.13. Manage Engine 11.3.14. Asset Sonar 11.3.15. SyAM Software. 12. Assumptions and Acronyms Used 13. Research Methodology
Table 01: Industry Value (US$ million) Analysis and Forecast (2019 to 2034), by Solution Table 02: Industry Value (US$ million) Analysis and Forecast (2019 to 2034), by Asset Type Table 03: Industry Value (US$ million) Analysis and Forecast (2019 to 2034), by Enterprise Size Table 04: Industry Value (US$ million) Analysis and Forecast (2019 to 2034), by Industry Table 05: Industry Value (US$ million) Forecast (2024 to 2034) By Country
Figure 01: Industry Value (US$ million), 2019 to 2023 Figure 02: Industry Value (US$ million), 2024 to 2034 Figure 03: Industry Size (US$ million) and Y-o-Y Growth Rate from 2024 to 2034 Figure 04: Industry Size and Y-o-Y Growth Rate from 2024 to 2034 Figure 05: Industry Share Analysis, by Solution - 2024 to 2034 Figure 06: Industry Y-o-Y Growth Comparison, by Solution, 2024 to 2034 Figure 07: Industry Attractiveness, by Solution Figure 08: Industry Share Analysis, by Asset Type 2024 to 2034 Figure 09: Industry Y-o-Y Growth Comparison, by Asset Type 2024 to 2034 Figure 10: Industry Attractiveness, by Asset Type Figure 11: Industry Share Analysis, by Organization Size - 2024 to 2034 Figure 12: Industry Y-o-Y Growth Comparison, by Organization Size, 2024 to 2034 Figure 13: Industry Attractiveness, by Organization Size Figure 14: Industry Share Analysis, by Industry - 2024 to 2034 Figure 15: Industry Y-o-Y Growth Comparison, by Industry, 2024 to 2034 Figure 16: Industry Attractiveness, by Industry Figure 17: Industry Share Analysis, by Country - 2024 to 2034
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