The Global IT Asset Disposition Market size is expected to reach $23.8 billion by 2028, rising at a market growth of 8.5% CAGR during the forecast period.
Disposing of IT hardware and other material that is no longer required is known as IT asset disposition, but this process involves more than just tossing away outdated equipment. Additionally, a comprehensive ITAD makes sure that all legal requirements for data protection are met throughout the disposal process and that materials are properly deleted.
Since outdated technology can harm ecosystems and increase the amount of plastic and other waste on the earth if it is not properly disposed of or recycled, ITAD also addresses environmental and sustainability issues. To assist ensure that all of their outdated or superfluous gear is disposed of in a manner that is safe, secure, and sustainable, businesses and organizations rely on expert IT asset disposition service providers like Transpere.
The technological waste that results from updating hardware or switching to new systems accelerates along with technology's ever-increasing rate of evolution. As a result, safe disposal of that gear is now more important than it was in the past when businesses could have been able to use the same technology for years or even decades. While minimizing expenses and environmental impact, the correct ITAD services provider can guarantee secure disposal of all devices.
IT asset disposition services for the data center are a rising business amidst this hardware expansion. All businesses currently directly handle some amount of IT gear, and eventually, all data center equipment will need to be repaired, resold, or responsibly disposed of. Therefore, it should come as no surprise that, despite the appearance of prolonged refresh cycles, the market for data center ITAD services continues to develop in terms of spend and breadth.
Top ITAD suppliers now provide a lot more than just compliant disposition. A sizable portion of the ITAD budget is already spent on services like data sanitization. Organizations are understandably eager to remove potentially sensitive data from obsolete storage devices. Businesses that ignore this reality risk severe penalties.
There have been questions regarding how businesses will manage the increases in electronic or IT asset waste that would emerge from the expansion of remote working-related IT asset purchases. The pandemic dramatically boosted the need for IT asset disposition services. Businesses adopted the "work from home" strategy and encouraged staff to utilize their own IT resources as a result of the COVID-19 pandemic. As remote work became commonplace, businesses started to get rid of their outdated and underused IT equipment, which raised the demand for ITAD solutions.
BYOD, or bring your own device, is a trend in which employers provide employees their mobile software and devices to use for both personal and professional reasons. Mobile device penetration has expanded significantly as a result of organizations adopting BYOD more frequently. Due to the variety of services, applications, and capabilities available, mobile devices store, transmit and receive large volumes of data. The majority of the data stored on mobile devices is sensitive, including usernames, passwords, and credit card numbers.
When they become obsolete or reach the end of their useful lives, electronic gadgets and IT assets like mobile phones, smartwatches, computers, servers, and peripherals must be properly disposed of. These electronic items, often known as electronic garbage or e-waste, are intended for recycling or rehabilitation. The accumulation of e-waste, which has the potential to harm humans, wildlife, and the environment, is typically caused by inadequate supervision of e-waste or poor handling techniques.
Any modern organization needs IT equipment, such as computer systems, tablets, smartphones, and digital storage devices. Because this equipment may contain information or data that needs to be protected, disposing of it when it needs to be replaced or upgraded or simply because it is surplus or redundant is a complicated process. The equipment may also be recycled or reused; hence, it must be disposed of legally and sustainably, which calls for the application of standard IT asset disposition procedures.
Based on the Services, the IT Asset Disposition Market is divided into De-Manufacturing & Recycling, Remarketing & Value Recovery, Data Destruction/Data Sanitation, Logistics Management & Reverse Logistics, and Other Services. The Remarketing & Value Recovery segment witnessed a substantial revenue share in the IT Asset Disposition Market in 2021. Reselling and Value Recovery is the idea of reusing and reselling previously used or retired assets to the market to recover some value or create some cash from it.
On the basis of Asset Type, the IT Asset Disposition Market is segmented into Computers/Laptops, Servers, Mobile Devices, Storage Devices, and Peripherals. The Computers/Laptops segment procured the largest revenue share in the IT Asset Disposition Market in 2021. This is because there are many recoverable items present, including plastics, ferrous metals, aluminum, copper, gold, and silver.
By Organization size, the IT Asset Disposition Market is classified into Small and Medium-sized Enterprises, and Large Enterprises. The Large Enterprises segment garnered the highest revenue share in the IT Asset Disposition Market in 2021. It is because large organizations are typically long-standing businesses with established activities on a regional, national, or international scale. Such businesses employ over 1,000 people and operate from several sites.
On the basis of End-User, the IT Asset Disposition Market is divided into Banking, Financial Services and Insurance (BFSI), IT and Telecom, Education, Healthcare, Aerospace and Defense, Public Sector and Government Offices, Manufacturing, Media and Entertainment, and Others. The IT and Telecom segment witnessed a significant revenue share in the IT Asset Disposition Market in 2021. By reselling expenses and materials recovered during recycling, a well-designed ITAD program lets companies recover the most value from their obsolete IT and telecom equipment both directly and indirectly. Overall, ITAD is critical to the company.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 13.6 Billion |
| Market size forecast in 2028 | USD 23.8 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 8.5% from 2022 to 2028 |
| Number of Pages | 318 |
| Number of Tables | 530 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Asset Type, Service, Organization Size, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the IT Asset Disposition Market is divided into North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region procured a promising revenue share in the IT Asset Disposition Market in 2021. The development of new technologies and the advent of digitalization have led to the modernization of current infrastructure in the Asia-Pacific region. China, Japan, and India are now at the forefront of the ITAD market due to their fast-growing information technology marketplaces.
Free Valuable Insights: Global IT Asset Disposition Market size to reach USD 23.8 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sims Limited, Iron Mountain Incorporated, 3Step IT Group Oy, Dell Technologies, Inc., Hewlett-Packard enterprise Company, IBM Corporation, TES – Sustainable Technology Lifecycle Solutions, Apto Solutions, Inc., LifeSpan International, Inc. (Bluum Technology), and CompuCom Systems, Inc. (Variant Equity Advisors).
By Asset Type
By Service
By Organization Size
By End User
By Geography
The IT Asset Disposition Market size is projected to reach USD 23.8 billion by 2028.
Technology Development And BYOD Trend Consolidating are driving the market in coming years, however, Policies For Disposing Of IT Assets Are Not Comprehensive Enough restraints the growth of the market.
Sims Limited, Iron Mountain Incorporated, 3Step IT Group Oy, Dell Technologies, Inc., Hewlett-Packard enterprise Company, IBM Corporation, TES – Sustainable Technology Lifecycle Solutions, Apto Solutions, Inc., LifeSpan International, Inc. (Bluum Technology), and CompuCom Systems, Inc. (Variant Equity Advisors).
The Data Destruction/Data Sanitation segment acquired maximum revenue share in the Global IT Asset Disposition Market by Service in 2021 thereby, achieving a market value of $9.9 billion by 2028.
The BFSI segment is leading the Global IT Asset Disposition Market by End User in 2021 thereby, achieving a market value of $5.3 billion by 2028.
The North America market dominated the Global IT Asset Disposition Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $8.7 billion by 2028.
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