Global IT Asset Disposition Market Size (2022-2030) Share, Industry Trends, Growth, Challenges, and Forecast: Custom Market Insights

The Global IT Asset Disposition Market size was estimated at USD 14.2 billion in 2021 and is expected to reach USD 15.80 billion in 2022 and is estimated to grow to USD 28.56 billion by 2030, with a compound annual growth rate (CAGR) of approximately 7.6% over the forecast period.

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.

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The 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.

The 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the expansion of the market for the disposal of IT assets is the rising demand for data and information security in outdated assets.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.

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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.

The IT Asset Disposition Market: Key Insights

A) As per the analysis shared by our research analyst, the IT Asset Disposition market is estimated to grow annually at a CAGR of around 7.6% over the forecast period (2022-2030).
B) In terms of revenue, the IT Asset Disposition market was valued at around USD 14.2 Billion in 2021 and is projected to reach USD 28.56 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The past several years have seen a notable increase in the demand for IT asset disposition, primarily due to increased investments, the expansion of end-use sectors, the adoption of cloud-based technologies, the usage of new technologies, and the BYOD trend.
D) The market is driven by the massive volume of e-waste created, the necessity for appropriate e-waste disposal techniques, and the demand that businesses follow environmental regulations. Small and medium-sized businesses' growing demand for IT asset disposal, as well as a growing trend toward the creation of energy-efficient products, also have an impact on the industry.
E) Additionally, it is anticipated that the absence of comprehensive IT asset liquidation policies, illegal norms, and unsustainable practices will restrain market expansion.

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The IT Asset Disposition Market: Regional Landscape

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.

The IT Asset Disposition Market: 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

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The IT Asset Disposition Market: Segments

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)

The IT Asset Disposition Market: Regions

North America

The U.S.
Canada
Mexico

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Australia
South Korea
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

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This release was published on openPR.