IT Asset Disposition (ITAD) Market Industry Size, Share, Business Growth, Applications, Competitive Landscape, Historical Analysis and Forecast 2022 (SARS-CoV-2, Covid-19 Analysis)

IT Asset Disposition (ITAD) Market

The global IT asset disposition market is showing immense growth mainly due to the emergence of technological advancements in the field of electronics. Also, increasing adoption of mobile devices is one major factor driving the growth of the market. Increasing inclination towards development of energy efficient products and growing adoption of the same is another major factor driving the market growth.

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According to a recent study report published by Market Research Future, The global market of IT Asset Disposition is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023). Also, increasing demand for IT asset disposition from medium and small enterprises is one major factor driving the market growth. IT asset disposition market is highly competitive due to the increase in cloud based technologies and increasing adoption of smartphones and tablets. One major concern among enterprises is the growing need to reduce their power consumption from servers. Owing to rising concerns regarding environmental policies, the IT asset disposition market is witnessing major growth. The media and entertainment industry vertical is expected to grow at the highest rate owing to the increasing adoption of the same.

Market Dynamics:

Growing adoption of information technology and devices and technological advances is the most significant driver of the market

The creation of antecedents such as adoption of information technology and devices, technological advancement resulting in technological obsolescence, falling cost and growing capabilities and capacities of new devices resulting in shortening lifecycle of devices, development of advanced resource intensive software’s, and others are the prime drivers of the market.

Enactment of regulations and growing concerns about data security is expected to result in faster growth of the market

The enactment of electronic recycling regulations around the globe owing to environmental concerns due to electronic scrap has triggered computer recycling for cash services. The development of the market for old computers has led to IT remarketing market. Advances in technology such as green electronic have led to recycle computer parts and computer recycling market.

Concerns over data security have led to the need for secure IT disposals, and secure data destruction is another prime driver of the market. The market has responded by IT asset disposal services and e-waste disposal companies offering hard drive shredder and hard drive destruction services. Development of it asset disposal best practices guidelines and technology for extracting valuable materials has further stimulated the market. Thus, businesses can recoup a part of losses in environmental fees and offset costs of purchasing new equipment. The development of free e-waste recycling, remarketing, and value recovery service has resulted in business models generating cash through gold recycled from motherboards and old equipment sold in auction websites.

Lack of awareness and high installation cost coupled with low recovery value from old computers hinders the adoption of the market

High investment in installation cost and lack of knowledge of the benefits of IT asset disposition services are the retardants impeding the growth of the ITAD market.

IT Asset Disposition Global Market - Segmentation

The IT asset disposition market can be classified into 4 key segments for the convenience of the report and enhanced understanding

Segmentation by Service Type: Comprises of de-manufacturing and recycling, remarketing and value recovery, data destruction/data sanitization, logistics management and reverse logistics and others.

Segmentation by Asset Type: Comprises of computer/laptops, servers, mobile devices, storage devices and peripherals.

Segmentation by Organization Size: Comprises of SMEs and Large Enterprises.

Segmentation by End User: Comprises of BFSI, IT & telecommunication, healthcare, aerospace & defense, manufacturing, media & entertainment, educational institutions and others.

Segmentation by Region: Comprises of Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

Dominant Players:

Some of the prominent players in global it asset disposition (ITAD) market include Arrow Electronics Inc. (U.S.), IT Renew Inc. (U.S.), Apto Solutions Inc. (U.S.), TBS Industries (U.S.), Iron Mountain Incorporated (U.S.), Hewlett Packard Enterprise Development LP (U.S.) Cloud Blue Technologies Inc. (U.S.), Sims Recycling Ltd. (U.K.), Dataserv Group (U.S.), Dell Inc. (U.S.), and others.

Industry News:

2015 - Leading electronics and waste recycler company ITAD Technologies collaborated with Glisson Camp & Retreat Center to resolve IT removal in corporate offices.

2015 - Storage and information management vendor Iron Mountain which acquired Crozier Fine arts, a leader in storage solution including secure storage, climate-controlled vaults, and others.

More Information@

https://www.marketresearchfuture.com/reports/it-asset-disposition-market-1002

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