(I-BusinessNews.Com, December 12, 2018 ) The hardware support services global market, one of the segments in the IT services industry, grew at a compound annual growth rate (CAGR) of around 6% during the historic period. This mainly due to a high investments in IT market and technology development.
In the forecast period, the hardware support services market size is expected to be over $997.1 billion by 2021, growing at a CAGR of nearly 6.80%. The growth rate is higher in the forecast period when compared to the historic period. This is mainly attributed to several factors which include economic growth in emerging economies, increasing investments in smart cities and increase in outsourcing.

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Companies providing hardware support services are increasingly providing their clients across different spectrum of industries with cloud software solutions. The cloud is a software delivery method where a vendor hosts a software application in a remote server and customers can access it through the internet. As cloud computing services continue to grow the demand for cloud data recovery solutions is gathering pace. Disaster recovery tools are particularly needed because the cloud stores data which is prone to cyber and malware attacks.

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