Global IT Asset Disposition Market Share To worth USD 23.5 billion by 2027 | CAGR of 8.7%

The global IT Asset Disposition Market size is projected to grow from USD 15.5 billion in 2022 to USD 23.5 billion by 2027; it is expected to grow at a CAGR of 8.7% from 2022 to 2027. The key factors contributing to the growth IT asset disposition market include need for data and information security in old assets, shift towards energy efficient products and need to comply with regulatory compliances meant for environmental safety. However, low awareness and high service cost is hindering the growth of IT asset disposition market. Unauthorized service providers and unsustainable practices possesses a huge challenge to the industry. However, growing focus on partnerships and acquisitions is the biggest opportunity in the market space during the forecast period.

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The key players operating in the IT Asset Disposition market are Dell Technologies (US), Hewlett Packard Enterprise (US), IBM (US), Sims Limited (Australia), Iron Mountain (US), 3Step IT(Finland), TES (Singapore), and Apto Solutions (US). The players in this market have adopted various strategies to expand their global presence and increase their market shares.

IT Asset Disposition Market Dynamics

Driver: Evolution of technologies and consolidation of BYOD trend

Organizations adopt new technologies to improve the efficiency and effectiveness of various work processes. Unfortunately, many technology-based products and services never reach their full potential and are replaced with the new version. Additionally, the consolidation of data centers, virtualization, and growing migration to the cloud create unwanted IT equipment that need to be disposed. Also, as remote work has become the norm, most businesses are embracing bring your own device (BYOD) in the workplace.

Restraint: Lack of comprehensive IT asset disposition policies

IT asset disposition market equipments, such as computers, tablet computers, mobile phones, and digital storage devices, are vital and valuable assets to any modern organization; thus, the disposal of such equipment, due to its need for replacement or upgrade, or merely because it has become obsolete, surplus, or redundant, is a complex process because it may contain data or information that must be protected. The equipment may also be reused or recycled; thus, it must be disposed off safely according to the law and in an environmentally sustainable way, which necessitates standard IT asset disposition policies. Organizations often lack the commitment to initiate the asset disposition process on priority due to budgetary problems.

Opportunity: Growing sales of old equipment on auction websites

Irrespective of an upswing or slowdown in global economies, the used equipment market is likely to remain resilient, provided that the growing inventory of assets that needs to be disposed off is visible to interested buyers worldwide. While the slowdown in China, India, and the Middle East has increased the supply of used assets in these markets, it is being matched by a growing demand from markets in Africa, South America, and other parts of the world. Thus, to sell old assets, various auction websites are created. These sites auction used assets through their auctioneering division. They have an extensive customer base of buyers from across the world in IT asset disposition market. They can set up an on-site auction or an online webcast depending on customer needs. Various online selling marketplaces include Facebook Marketplace, Amazon, eBay, Swappa, Gazelle, and NextWorth.

Challenge: Lack of budget for IT asset disposition

Most organizations do not assign any special budget for the disposition of IT assets, as the process or services might be too expensive or unmanageable for them. Another major reason for not providing special budget is the limited funds of the organization, especially small and medium-sized enterprises. Organizations focus on providing funds by prioritizing necessary equipment and services, as the value recovery from the old assets is quite low although not providing necessary funds or choosing low-cost provider and not disposing off assets in a correct way could end up costing significantly more. Also, this would harm the environmental and worker health and create safety threats.

Dell Technologies (US) ranked second and held an 8-10% share of the IT asset disposition market in 2021. Strong brand name, product portfolio, wide geographic presence, and substantial expertise in handling IT assets are the key factors that have led to its substantial share in the IT asset disposition market. The company has a wide portfolio of IT asset disposition services starting from picking-up of IT assets from doorstep to IT asset recycle/resale. Dell Technologies has a very strong grip on the North America IT asset disposition market, and a substantial portion of its revenue gets generated from the US. However, the company also has a significant presence in other regions. For instance, the company has a noteworthy presence in over 30 European countries. Dell is further trying to expand its services by indulging in agreements and partnerships.

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The constant advancements taking place in asset disposition technology, such as developments in data security technology and the recycling process, are expected to boost the growth of the IT asset disposition market in North America. Furthermore, there is an increasing awareness of data security in the region, which is indirectly affecting the IT asset disposition market. Additionally, the augmented reliance on outsourced data hosting and processing, propelled by the increasing number of multi-tenant data centers (MTDC) in this region, is projected to boost the adoption of IT asset disposition solutions significantly over the next few years.

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