IT Asset Disposition Global Market Report 2024 - By Demand, Size, Share, Report, Outlook By 2033

The it asset disposition market size has grown strongly in recent years. It will grow from $17.94 billion in 2023 to $19.58 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to asset value recovery, emerging market demand, obsolete equipment handling, consumer electronics turnover, globalization and supply chain management.

The it asset disposition market size is expected to see strong growth in the next few years. It will grow to $28.36 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to data center decommissioning, asset recovery and value maximization, consumer awareness and e-waste management, end-of-life it hardware upgrades, globalization of itad services. Major trends in the forecast period include environmental regulations, circular economy initiatives, remote workforce trends, it hardware upgrades.

Market Overview -
IT asset disposition is a specialized practice that deals with technological assets such as laptops, desktop computers, tablets, enterprise equipment, data center cloud equipment, and smartphones. ITAD is an essential component of IT asset management. The IT asset disposition is used by companies to decommission, disposing of or utilize unwanted IT equipment, such as hardware and electronic devices, properly to avoid adverse environmental, financial, and reputational effects.

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Growing Usage Of Electronic Devices Propels It Asset Disposition Market
The growing usage of electronic devices is expected to propel the IT asset disposition market going forward. The COVID-19 pandemic and subsequent lockdowns have significantly impacted modern living. The increased usage of telecommuting for business, education, and recreation has increased the demand for electronic equipment. Electronic devices refer to the devices used to regulate the movement of electrical currents for the purpose of processing information and system control. IT asset disposition assists electronic devices in safeguarding business data and properly decommissioning and disposing of various electronic devices. For instance, in January 2023, according to the annual financial report 2022 published by LG, a South Korea-based consumer electronics company, With sales surpassing $60 billion for the first time in company history in 2022, LG recorded its biggest annual revenue ever, up 12.9% from 2021, when sales for the first time went over approximately $52.70 billion. Therefore, an increase in the growing usage of electronic device will drive the IT asset disposition market.

Competitive Landscape -
Major companies operating in the it asset disposition market report are Dell Technologies Inc., Hewlett Packard Enterprise Company, International Business Machines Corporation, Sims Limited, Iron Mountain Incorporated, Tes-Amm India Private Limited, Apto Solutions Inc., LifeSpan International Inc., Arrow Electronics Inc., EOL IT Services LLC, Exit Technologies Inc., GreenTek Teman Pvt Ltd, Maxicom Network Inc., TBS Industries Inc., CloudBlue Technologies Inc., CompuCycle USA LLC, EPC Inc., Electronic Recyclers International Inc., Excess Logic LLC, Insight Enterprises Inc., IT Liquidators LLC, IT Renew Inc., ITAD Solutions LLC, Liquid Technology Inc., NextUse LLC, PlanITROI Inc., Procurri LLC, Redemtech Inc., Stone Environmental Inc.

Eri Partners With Closed Loop Partners For Circular Supply Chains In It Asset Disposition
Strategic partnership is a key trend in the IT asset disposition market. Major players are enting into partnership to sustain in the market. Strategic partnership is a key trend in the IT asset disposition market. Major players are enting into a partnership to sustain in the market. For instance, in July 2021, ERI, a US-based IT asset disposition provider, partnered with Closed Loop Partners. Through this partnership, ERI will enhance circular supply chains that benefit people, the environment, and business. Closed Loop Partners is a US-based investment firm.

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Key Segments -
The it asset disposition market covered in this report is segmented -
1) By Service: De-Manufacturing And Recycling, Remarketing And Value Recovery, Data Destruction Or Data Sanitation, Logistics Management And Reverse Logistics, Other Services
2) By Asset Type: Computers Or Laptops, Servers, Mobile Devices, Storage Devices, Peripherals
3) By Organisation Size: Small And Medium-Sized Enterprises, Large Enterprises
4) By End-User: Banking, Financial Services And Insurance (BFSI), IT And Telecom, Education, Healthcare, Aerospace And Defense, Public Sector And Government Offices, Manufacturing, Media And Entertainment, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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