Hardware asset management refers to management of physical computing solutions and components like laptops and desktops, starting from the procurement phase to the retirement stage of such assets. Hardware asset management is usually included by enterprises and organizations in their overall scope and these end-users align their operations with IT processes to ensure that hardware asset management is a major part of IT departments.
Like software, hardware solutions are also required to be managed properly in order to ensure that the end-user is harnessing maximum potential that the asset has to offer. Enterprise processes are required to be in place in order to manage assets from point of request to the point where the assets are retired from use.
Effective hardware asset management can have a major impact on time taken to fix hardware related faults, malfunctions and other issues. With efficient hardware asset management in place, end-users can dramatically reduce the time it usually takes them to fix or procure hardware.
Hardware Asset Management: Market Dynamics
Having hardware asset management can save a fortune for end-users, with regards to both, hardware and related software solutions. Active management of hardware and software assets throughout their lifecycles leads to reduction in procurement expenditure.
Reduction in maintenance costs, hardware budgets, software spending, and focus on harnessing the potential to save money through disposal processes are some factors motivating enterprises to implement hardware asset management.
Capturing financial objectives of asset lifecycles helps enterprises make operational decisions based on measurable financial parameters. This also enables end-users to forecast IT budgets for coming years in terms of both hardware and software spending.
Knowledge of specifications, department and location of the asset allows service desks to retrieve assets that are no longer used or required. Asset management also helps record hardware assets that are available in the inventory and are deployment-ready.
Impact of COVID-19 Pandemic Outbreak on Hardware Asset Management Market
Rising infections across the globe are forcing national governments to declare nationwide lockdowns. These lockdowns entail that employees have to work from home. Large enterprises are estimated to continue procuring hardware asset management solutions and services at the same rate as before lockdowns.
However, an increase in adoption of hardware asset management solutions and services is being observed among small- and medium-sized enterprises, as the sudden move to off-site operations is forcing them to ensure hardware as well as software security. Thus, a spike in the overall hardware asset management market growth rate is estimated during the ongoing COVID-19 pandemic.
Hardware Asset Management Market: Competition Landscape
Some of the key vendors in the global hardware asset management market are
- Dell Inc.
- BMC Software Inc.
- HP Inc.
- ServiceNow Inc.
- Flexera Software LLC
- Aspera Technologies Inc.
- Cherwell Software LLC
- Snow Software AB
- Freshworks Inc.
Following are some key strategies incorporated by companies competing in the global hardware asset management market:
- Solutions and service providers are focused on expanding their offerings. These vendors are striving to deploy extensive services and indulging in development of innovative features to attract prospects and enhance revenue generation.
- Developers are enhancing their sales and distribution networks and channels to better reach customers in emerging regional markets, while tactfully maintaining relationship with their existing clientele.
Hardware Asset Management Market: Regional overview
Currently, the hardware asset management market in North America is leading all other regional markets. The dominance may be owed to the high demand for IT asset monitoring and management solutions in the region. Hardware asset management market in Southeast Asia Pacific region is projected to register the fastest growth over the forecast period, followed by the regional markets in Latin America and Middle East and Africa.
Rising demand for reverse logistics in economies like India, ASEAN countries, Brazil, Mexico, Turkey and Israel is likely to enable these regional markets record the highest growth rates during the forecast period.
The Hardware Asset Management market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- Hardware Asset Management Market Segments
- Hardware Asset Management Market Dynamics
- Hardware Asset Management Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Technology Landscape
- Value Chain of the Market
- Market Drivers and Restraints
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Russia, Rest of Europe)
- East Asia (China, South Korea, Japan)
- South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific)
- Middle East and Africa (GCC Countries, Turkey, South Africa, Res of MEA)
- Detailed overview of parent Hardware Asset Management market
- Changing Hardware Asset Management market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of value
- Recent industry trends and developments
- Competitive landscape of Hardware Asset ManagementMarket
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Hardware Asset Management Market: Segmentation
The hardware asset management market can been segmented on the basis of solution, enterprise size and industry.
- Standalone Solutions
- Integrated Platforms
- Professional Services
- Managed Services
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
Market Research Methodology - Perfected through Years of Diligence
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