IT Asset Disposition (ITAD) Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

The global IT Asset Disposition (ITAD) market size is projected to reach USD 15920 Million by 2027, from USD 8391 Million in 2020, at a CAGR of 9.6% during 2021-2027. The market for IT asset disposition has grown dramatically in recent years, owing mostly to regulatory compliance and the rising need to avoid data breaches. The vast amounts of e-waste created, the need for safe e-waste disposal solutions, and industry-wide environmental policies are all driving the ITAD market.

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One of the key drivers for the IT Asset Disposition market has been the possibility of data breaches. Piracy and data-based attacks have reached all-time highs, and businesses have been looking for effective solutions to prevent them. Unfortunately, many people are unaware that many data breaches occur as a result of discarded, ostensibly obsolete equipment. Organizations sometimes disregard data security when selling of IT assets. Secure data ends placed in a warehouse, where it can be picked up and used for malicious purposes by anyone. Secure data ends up sitting someplace in a warehouse, where anyone can pick it up and use it for harmful purposes. Hard drives aren't wiped, computers aren't erased, and secure data ends up sitting somewhere in a warehouse. By entirely erasing data from any discarded devices, ITAD services can help to avoid such scenarios and reduce risk.

The expansion of the IT Asset Disposition (ITAD) market is predicted to be driven by the increasing adoption of regulatory compliances and environmental safety. Companies must re-evaluate their end-of-life management practises due to regulatory compliances such as NIST and HIPAA/HITECH. Many market participants lack the required market clout to deal with policy execution. Furthermore, neglecting to have a well-organized and secure plan in place for removing old IT equipment can result in difficulties such as identity theft and fraud. As a result, the correct disposal of computers and electronics is governed by a number of federal and state environmental and privacy standards, and failing to do so can result in audits and large fines or penalties.

Electronic rubbish, or e-waste, generates between 20 and 50 million metric tonnes of hazardous waste each year, according to the UN Environment Programme (UNEP), and the need for new technology is only increasing. These figures put a lot of pressure on consumers and producers to come up with solutions to help minimise the quantity of e-waste generated in poor countries throughout the world. ITAD companies make it simple to sell and remove your surplus IT equipment for safe disposal, recycling, or resale. They may also be in charge of decommissioning your data centre in a secure manner.

IT Asset Disposition (ITAD) Market Share Analysis
The remarketing and value section of the IT Asset disposition market is predicted to be one of the most lucrative categories based on type. End-of-life IT assets can be resold to generate revenue while decreasing electronic waste. Various safe IT asset disposition programmes combine refurbishing and remarketing efforts to extract value from discarded but still useable devices and components, allowing businesses to get the most out of an asset's lifecycle.

The BFSI business is predicted to be one of the top contributors to the IT asset disposition market share, based on application. The BFSI industry, which is particularly safe and sensitive, holds personal information and account details of corporations and customers. Because the devices may contain both sensitive customer data such as social security numbers, banking account information, and pay stubs, as well as firm proprietary data such as revenue predictions, payrolls, and other information, the most serious threat to this industry is a data breach. As a result, proper data destruction via the sanitization method-which involves degaussing, overwriting, or physical annihilation-is an essential component of data protection.

North America is expected to lead the worldwide ITAD market, followed by Europe and Asia-Pacific. Government regulations that encourage corporations to establish strategies for securely and correctly disposing of their IT assets are credited with North America's dominance. Europe is the second-largest market for ITAD in the globe. Because of data security and legislation, the ITAD industry in Europe is booming. In nations like Germany, France, and the United Kingdom, ITAD services are already in high demand.

By Type
• De-Manufacturing and Recycling
• Remarketing and Value Recovery
• Data Destruction/Data Sanitization

By Application
• BFSI
• Government & Public
• IT & Telecom
• Aerospace & Defense
• Healthcare
• Media and Media and Entertainment

Key Players
• Arrow Electronics, Inc.
• Sims Recycling Ltd.
• IBM
• HPE
• Atlantix Global Systems
• Iron Mountain Incorporated.
• GEEP
• Dell Inc.
• ITRenew Inc.
• Apto Solutions, Inc.
• CloudBlue
• Dataserv
• TES-AMM Pte Ltd.
• LifeSpan International, Inc.

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