IT Asset Disposition Market Growing at a CAGR of 11.5% | By region, the North America region was the highest revenue contributor

IT asset disposition Market by Services (De-Manufacturing and Recycling, Remarketing and Value Recovery, Data Destruction/Data Sanitation, Logistics Management and Reverse Logistics and Others) Asset Type (Computers/Laptops, Servers, Mobile Devices, Storage Devices and Peripherals) Enterprise Size (Large Enterprises and Small and Medium-sized Enterprises) Industry Vertical (BFSI, IT and Telecom, Education, Healthcare, Manufacturing, Media and Entertainment, Government and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032".

According to the report, the global IT asset disposition industry generated $19.9 billion in 2022, and is anticipated to generate $57.4 billion by 2032, witnessing a CAGR of 11.5% from 2023 to 2032.

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The global IT asset disposition market is driven by factors such as growing awareness of the advantages of cloud-based computing, continued migration from on-premise to cloud-based services, and upsurge in awareness of environmental protection. However, lack of awareness about ITAD solutions and comprehensive IT asset disposition policies and unauthorized standards limit the expansion of the market. Moreover, Importance of green IT initiatives is expected to create lucrative opportunities in the industry.

Covid-19 Scenario

The COVID-19 pandemic brought about significant changes in consumer trends for the IT asset disposition market. With more people working remotely and using personal devices for work, there had a greater risk of sensitive data being compromised. This had led to an increased demand for ITAD services that offer secured data destruction to ensure confidential information is not accessible to unauthorized individuals.

Despite the challenges posed by the COVID-19 pandemic, the pandemic had also highlighted the importance of supply chain resilience and the need for businesses to have a reliable and secure process for managing their IT assets. This had led to an increased interest in ITAD providers who can provide secure logistics, tracking, and reporting for IT assets throughout the entire lifecycle.

Overall, the ITAD market presents several opportunities for ITAD providers to capitalize on emerging trends, adopt new technologies, and improve their sustainability practices.

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Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global IT asset disposition market revenue, due to the presence of a booming IT market and the rising number of cloud data centers within the region is expected to fuel the North American IT asset disposition market during the forecast period. In addition, the IT asset disposition market is placing a growing emphasis on secure and compliant data destruction as companies become more aware of the risks associated with data breaches. Thus, such trends are expected to continue shaping the IT asset disposition market in North America. However, the Asia-Pacific region is expected to witness the fastest CAGR of 14.8% from 2023 to 2032, and is likely to dominate the market during the forecast period, as the Asia-Pacific region generates the largest amount of e-waste in the world, with China being the biggest contributor. The increasing amount of e-waste is driving the ITAD market growth in the region.

The IT asset disposition market is expected to continue growing in the coming years, driven by increase in regulations related to data safety, security, and carbon neutrality, and a rise in regulatory compliance. The increase in cloud-based computing has been another significant factor that has resulted in the high growth of the ITAD market. Furthermore, an increase in the need to avoid data breaches is also anticipated to boost the demand for the market.

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Leading Market Players: -

Apto Solutions Inc.

CompuCom Systems, Inc.

CDW

Hewlett Packard Enterprise Development LP

Ingram Micro Services

Iron Mountain Incorporated

LifeSpan International Inc.

Sims Lifecycle Services

TES

UNDUIT LLC

The report provides a detailed analysis of these key players of the global IT asset disposition market. These players have adopted different strategies such as partnership, product launch, and expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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