Dublin, Oct. 16, 2024 (GLOBE NEWSWIRE) -- The "Data Center and Network Third Party Hardware Maintenance Services - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Data Center and Network Third Party Hardware Maintenance Services was estimated at US$3.7 Billion in 2023 and is projected to reach US$8.1 Billion by 2030, growing at a CAGR of 11.8% from 2023 to 2030.
Why Are Organizations Turning to Third-Party Maintenance Services?
In today's digital age, businesses rely heavily on data centers and robust network infrastructures to ensure seamless operations. As a result, the demand for third-party hardware maintenance services for data centers and networks is rising significantly. Organizations are increasingly looking to third-party providers to help manage their hardware maintenance due to the cost savings and flexibility these services offer compared to original equipment manufacturer (OEM) contracts. Third-party providers offer customized service agreements, which are often more affordable and tailored to the specific needs of the client.
Additionally, the ability to maintain legacy equipment beyond the manufacturer's support period is another driving factor, as many companies seek to extend the life of their hardware to maximize their return on investment. This shift allows businesses to allocate resources more efficiently, prioritize innovation, and reduce downtime due to extended hardware life cycles.
How Is Technology Innovation Impacting The Market?
Technological innovation plays a crucial role in shaping the data center and network third-party hardware maintenance services market. Advancements in remote monitoring tools, artificial intelligence (AI), and machine learning (ML) are enabling service providers to predict hardware failures before they occur, enhancing the preventive maintenance capabilities of these services. Remote monitoring technologies provide real-time data and insights, allowing third-party maintenance providers to resolve issues proactively without the need for on-site visits, reducing both service time and costs.
Furthermore, AI and ML-driven analytics tools are being leveraged to optimize inventory management, ensuring that critical replacement parts are always available when needed. This technological shift is also supported by an increasing trend toward cloud-based maintenance management systems, which offer centralized platforms for tracking service histories, performance analytics, and workflow management, thereby improving operational efficiencies.
What Are The Emerging Trends In Consumer Behavior And Market Demand?
Shifting consumer preferences towards greater flexibility, cost efficiency, and faster service delivery are major trends influencing the data center and network hardware maintenance market. As businesses face tighter IT budgets, many are moving away from OEM service contracts that often come with high costs and rigid terms. Instead, they are opting for third-party maintenance services that offer more customizable options, such as pay-as-you-go or on-demand service models.
Another trend is the growing demand for sustainability in IT operations, with companies increasingly seeking to extend the life of existing hardware to reduce electronic waste. Third-party providers are well-positioned to meet this need, as they specialize in maintaining and supporting equipment beyond the manufacturer's end-of-service life. Additionally, the rise in cloud adoption and digital transformation initiatives across various industries is driving the demand for agile and scalable maintenance solutions that can support hybrid IT environments effectively.
What Factors Are Driving The Growth Of This Market?
The growth in the data center and network third-party hardware maintenance services market is driven by several factors, including technological advancements, changing end-user preferences, and the increasing complexity of IT environments. The integration of AI, ML, and remote monitoring technologies is enhancing the ability of third-party providers to offer more proactive and predictive maintenance solutions, reducing downtime and costs. End-user demand for cost-effective and flexible service options, coupled with the need to maintain legacy systems and reduce electronic waste, is compelling organizations to seek out third-party maintenance services over OEM contracts.
Moreover, the rapid pace of digital transformation, cloud adoption, and the expansion of data centers worldwide are contributing to the market's growth, as organizations require more scalable and comprehensive maintenance solutions. The increasing acceptance of hybrid IT environments that combine on-premises infrastructure with cloud services further boosts the demand for third-party support, ensuring comprehensive coverage across diverse hardware ecosystems.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Large Enterprises segment, which is expected to reach US$5.1 Billion by 2030 with a CAGR of a 11.3%. The SMEs segment is also set to grow at 12.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $1.0 Billion in 2023, and China, forecasted to grow at an impressive 15.8% CAGR to reach $1.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Data Center and Network Third Party Hardware Maintenance Services Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Data Center and Network Third Party Hardware Maintenance Services market such as CentricsIT, Computer Data Source, CXtec, DataSpan, EmconIT, Evernex Group, Maintenance Global Services, Nordic Computer, Park Place Technologies, Service Express and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 172 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $3.7 Billion |
| Forecasted Market Value (USD) by 2030 | $8.1 Billion |
| Compound Annual Growth Rate | 11.8% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- World Market Trajectories
- Global Economic Update
- Data Center and Network Third Party Hardware Maintenance Services - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Growing Focus on Cost Optimization in IT Infrastructure Management
- Impact of Increasing Data Center Complexity on Maintenance Needs
- Trends in Extending the Lifecycle of Legacy Hardware
- Influence of Multi-Vendor Environments on Maintenance Services
- Expansion of Third-Party Maintenance in Emerging Markets
- Impact of Data Privacy Regulations on Maintenance Practices
- Trends in Remote Monitoring and Predictive Maintenance Solutions
- Growing Adoption of Hybrid and Multi-Cloud Strategies
- Opportunities in Reducing Downtime and Enhancing Uptime
- Influence of Green IT Initiatives on Hardware Maintenance Approaches
FOCUS ON SELECT PLAYERS (Total 34 Featured):
- CentricsIT
- Computer Data Source
- CXtec
- DataSpan
- EmconIT
- Evernex Group SAS
- Maintenance Global Services
- Nordic Computer
- Park Place Technologies
- Service Express
For more information about this report visit https://www.researchandmarkets.com/r/ym43sp
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