Research Nester’s recent market research analysis on “Hardware Asset Management Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global hardware asset management market in terms of market segmentation by type, end user, enterprise size, deployment model and by region.
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Surge in Remote Work and Endpoint Devices to Promote Global Market Share of Hardware Asset Management Market
The global hardware asset management market is estimated to grow majorly on account of the rise of remote work globally has accelerated the deployment of endpoint devices which includes laptop, tablets and mobile devices. To manage these hardware assets is a complex challenge for organizations. Moreover, the role of asset management solution is important as it helps in tracking and securing endpoint devices which further ensures compliance and optimizing asset usage. The surge in remote work has highlighted the importance of need for robust hardware asset management solutions to maintain visibility and control over dispersed hardware assets. According to recent information, in 2021, it was found that nearly three times more people working in remote positions than in 2019.

Some of the major growth factors and challenges that are associated with the growth of the global hardware asset management market are:
Growth Drivers:
• The integration of IT service management with hardware asset management becomes imperative for organizations seeking a holistic approach to IT management.
• The increasing adoption of cloud computing in the businesses or organizations.

Challenges:
Dynamic IT environments, software-hardware dependencies, compliance complexity are the major factors anticipated to hamper the global market size of hardware asset management. The increasing technological advancements leads to growth of dynamic IT environments with constant IT updates , new hardware introductions, and evolving infrastructure. Organizations face challenge in maintaining an accurate and updated inventory of hardware assets in the dynamic IT environment. Moreover, devices may be overlooked which leads to incomplete assets inventories and ultimately it hampers the effective management and decision making.

By type segment in the global hardware asset management market is segmented into software and services. The software segment is to garner a significant revenue by the end of 2036 by growing at a significant CAGR over the forecast period. The segment growth can be attributed to factor that integration of hardware asset management software with IT service management platforms. The integration includes processes, efficiency and provide organization with a unified view of hardware and software assets. Moreover, the demand for solutions offering interoperability between HAM and ITSM continues to grow as businesses prioritize seamless IT operations. In addition, cloud based HAM solutions offer accessibility which align with evolving need of modern enterprise. According to recent report, public cloud services grew by 18.4% year-over-year in 2021.
By region, the Europe in hardware asset management market is to generate the significant revenue of by the end of 2036. This growth is anticipated by the growing security concerns and emphasis on cyber security has led the organization to focus on securing their hardware assets effectively. The role of hardware asset management is important in ensuring the security of IT infrastructure which boost the market in the region. According to recent information, in 2020, there were 304,788 reported incidents of cyber threats in Europe. In addition, companies are becoming aware of optimizing their hardware assets to improve productivity and mitigate unnecessary expenditures.
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