Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Hardware Asset Management Market size was valued at USD 29.74 billion in 2024 and is likely to cross USD 123.87 billion by 2037, expanding at more than 11.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of hardware asset management is assessed at USD 32.67 billion.
The ever-evolving landscape of data protection and privacy regulations, coupled with industry-specific compliance mandates, has propelled businesses to adopt robust HAM solutions. These tools play a crucial role in ensuring that organizations maintain a meticulous record of their hardware assets, fostering transparency and adherence to regulatory requirements. As regulatory frameworks governing data security and privacy become more intricate and stringent, organizations face the daunting challenge of aligning their IT practices with these evolving standards. Compliance with regulations such as GDPR (General Data Protection Regulation), HIPAA (Health Insurance Portability and Accountability Act), and other regional data protection laws necessitates a comprehensive approach to managing hardware assets. According to a study in 2020, approximately 75% of organizations anticipated an increase in their spending on IT compliance and risk management.
The escalating frequency and sophistication of cyber threats, including data breaches and ransomware attacks, underscore the critical importance of securing hardware assets. Failure to comply with regulatory standards not only exposes organizations to legal consequences but also increases the risk of data breaches. A robust HAM system serves as a proactive measure, enabling organizations to fortify their defenses by maintaining an accurate inventory of hardware assets, tracking their status, and ensuring that security protocols are in place.
