It Asset Disposition Market to Reach Beyond USD 28.56 Billion By...

It Asset Disposition Market to Reach Beyond USD 28.56 Billion By 2032

Posted 2024-10-23 05:58:01

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According to Custom Market Insights (CMI), The Global IT Asset Disposition Market size was estimated at USD 14.2 Billion in 2021 and is expected to hit around USD 28.56 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 7.6% from 2022 to 2030.

Our research report offers a 360-degree view of the IT Asset Disposition market’s drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the IT Asset Disposition market.

IT Asset Disposition Market: Overview

IT Asset Disposition (ITAD) is a procedure that allows you to get rid of surplus computer hardware. This can be carried out safely and sustainably. The vendors offer their services to the organizations, assisting them in remarking, recycling, and remarketing various computer equipment. As a result, there are no longer any environmental issues, legal dangers, or needless maintenance and replacement expenditures. To reduce labor expenses, administrative hassles, and storage-related problems, many firms opt to outsource their ITAD operations.

Browse the full “IT Asset Disposition Market Size, Trends and Insights By Asset Type (Computers/Laptops, Mobile Devices, Others), By End-use (BFSI, Government, IT and Telecom, Energy and Utilities, Media and Entertainment, Healthcare), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030″ report at https://www.custommarketinsights.com/report/it-asset-disposition-market/

Growth Factors

One of the key elements fueling the expansion of the market for the disposal of IT assets is the rising demand for data and information security in outdated assets. The market expansion is accelerated by the implementation of regulatory compliances and environmental safety, which is made possible by the prevalence of legislation that requires secure and ecologically responsible disposal of e-waste. Small and medium-sized businesses’ growing desire for IT asset disposal and their increased propensity to create energy-efficient products impact the industry. Additionally, the market for disposing of IT assets is positively impacted by investment growth, development of end-use sectors, acceptance of cloud-based technologies, use of new technologies, and the BYOD trend.

Furthermore, during the forecast period of 2022 to 2030, profitable opportunities for market participants are expanded through strategic alliances and acquisitions, as well as a growth in the sales of used equipment on websites that host online auctions or to employees.

Segmental Overview

The market for IT Asset Disposition is segmented into asset type and end-use. Based on asset type, over 40% of the market’s value was accounted for by the computer/laptop category in 2021. It is anticipated to rise significantly during the forecast period as businesses are becoming more inclined to restore and recycle old PCs and laptops.

On the other hand, the segment for smartphones and tablets is anticipated to register at the highest CAGR throughout the projection period. The need for IT asset disposition services in the mobile device market is being driven by technological advancements that result in the acquisition of new smartphones and the obsolescence of older devices. On the other hand, the segment for smartphones and tablets is anticipated to grow at a CAGR of more than 8% throughout the projection period. The need for IT asset disposition services in the mobile device market is being driven by technological advancements that result in the acquisition of new smartphones and the obsolescence of older devices.

Regional Overview

Due to the introduction of digitization and technological breakthroughs, which have caused the replacement of obsolete infrastructure, Asia Pacific is predicted to witness a CAGR of over 12% throughout the projection period. Given their booming IT marketplaces, nations like Japan, China, and India are among the top providers of ITAD services. According to the United Nations University, India produces over 2 million metric tons of electronic trash each year, of which 82% comes from personal electronics. In India, demand for ITAD services has increased significantly over the past several years to guarantee and manage the safe disposal of the created e-waste.

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Competitive Landscape

Vendors of ITADs provide various services, including data destruction, dismantling, redeployment, remarketing, and recycling of discarded IT hardware.

While some businesses have opted to use services from ITAD suppliers, others have decided to develop their service lines to handle the used equipment. To gain recognition and establish themselves in the market, ITAD vendors are concentrating on gaining certifications like Responsible Recycling (R2) and other higher certifications.

Some of the prominent players

Apto Solutions Inc.
Dell Inc
Hewlett Packard Enterprise Development
CompuCom Systems Inc.
IBM Corporation
Iron Mountain Incorporated
LifeSpan Intern International Inc.
Sims Lifecycle Services Inc.
Ingram Micro Services

The global IT Asset Disposition market is segmented as follows:

By Service

De-Manufacturing & Recycling
Remarketing & Value Recovery
Data Destruction/Data Sanitation
Logistics Management & Reverse Logistics

By Asset Type

Computers/Laptops
Servers
Mobile Devices
Storage Devices
Peripherals

By Organization Size

Small & Medium-Sized Enterprises
Large Enterprises

By End-User

Banking
Financial Services & Insurance (BFSI)
IT & Telecom
Education
Healthcare
Aerospace & Defense
Public Sector & Government Offices
Manufacturing
Media & Entertainment
Others (Energy & Utility, Construction & Real Estate, Logistics & Transportation))

Table of Contents: https://www.custommarketinsights.com/report/it-asset-disposition-market/#table-of-contents

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