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Cloud Computing Data Center IT Asset Disposition Market Size Projected To Reach $25.03 Billion By 2034 With A Cagr Of 13.7%
Cloud Computing Data Center IT Asset Disposition
What Is the Projected Growth of the Cloud Computing Data Center IT Asset Disposition Market?
The market size of cloud computing data center IT asset disposition has seen fast-paced expansion in the past few years. Forecasts show an increase from $13.13 billion in 2024 to $14.97 billion in 2025, with a compound annual growth rate (CAGR) of 14.0%. The notable increase in the past years is credited to factors such as vendor and technology modification, strengthened environmental sustainability measures, heightened levels of data center relocation or migration, and considerations on lease expiration or hardware lifespan.
The market size for the cloud computing data center IT asset disposition industry is predicted to witness speedy expansion in the ensuing years, with estimates suggesting it will swell to $25.03 billion in 2029, registering an annual growth rate (CAGR) of 13.7%. Factors like cloud migration along with hybrid IT, developments in cyber security threat environment, optimization of costs, management of remote workforce and endpoint, and automation and orchestration of data centers will drive the growth during the projection period. Major development trends for the period include growth in the adoption of circular economy practices, the emergence of automation and artificial intelligence-powered solutions, prioritization of data privacy and security, cloud-based disposition solutions expansion, and amalgamation with data center lifecycle management.
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What Are the Different Cloud Computing Data Center IT Asset Disposition Market Segments?
The cloud computing data center it asset disposition market covered in this report is segmented -
1) By Service: Re marketing, Recycling, Data Destruction, Other Services
2) By Asset Type: Servers, Networking Equipment, Storage Devices, Other Asset Types
3) By End Users: Enterprises, Cloud Service Providers, Colocation Providers
Subsegments:
1) By Re marketing: Resale Of IT Equipment, Refurbishment Of Hardware
2) By Recycling: E-Waste Recycling, Component Recovery, Material Recycling
3) By Data Destruction: Hard Drive Shredding, Data Wiping and Degaussing, Secure Disposal Services
4) By Other Services: Inventory Management, Logistics And Transportation, Auditing and Reporting Services
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What Are the Primary Drivers Shaping the Cloud Computing Data Center IT Asset Disposition Market?
The growth of the cloud computing data center IT asset disposition market is projected to be driven by increasing use of cloud computing services. These services provide computing resources and IT capabilities over the internet on a pay-as-you-go basis, with rising adoption due to benefits like affordability, user-friendliness, adaptability, and scalability. They also boost the efficiency, security, scalability, and analytical prowess of IT asset disposition processes, thereby fostering innovation and market competitiveness. For instance, AAG IT Services, a non-governmental organization based in the UK, reported in June 2024 that about 89% of organizations they surveyed in 2022 used multi-cloud solutions for storage and workloads. Only a minor fraction, 9%, exploited a singular public cloud, and a mere 2% relied on a dedicated private cloud. Consequently, an upswing in the use of cloud computing services is bolstering the growth of the cloud computing data center IT asset disposition market.
Which Companies Are Leading in the Cloud Computing Data Center IT Asset Disposition Market?
Major companies operating in the cloud computing data center IT asset disposition market report are Dell Technologies Inc.; HP Development Company L.P.; Arrow Electronics Pvt Ltd.; Iron Mountain; Sims Recycling Services; Liquid Technology; TES-AMM; McPhersons Resources Ltd.; ITRenew's; Atlantix Global Systems; Wisetek Providers Inc.; CNET Global Solutions; Hyphen Services Ltd.; TechTurn Ltd.; Garbageman Ltd.; Apto Solutions Ltd.; CloudBlue Digital Ltd.; HOBI International; Cascade Asset Management LLC; GreenTek Solutions LLC; ServerMonkey LLC; ICT Reverse; Inrego AB
What Trends Are Expected to Dominate the Cloud Computing Data Center IT Asset Disposition Market in the Next 5 Years?
Leading corporations in the cloud computing data center IT asset disposition market are concentrating on the creation of innovative solutions like IT asset repurposing and processing facilities to cater to the rising need for secure and efficient discarding of decommissioned IT equipment. Facilities for IT asset repurposing and processing are unique locations designed to extract value from obsolete or decommissioned tech equipment. For example, in March 2024, TES amm, a provider of IT and services based in Singapore, launched its fresh IT asset repurposing and processing facility targeting prolonging the lifespan of technological assets and data center equipment. It specifically targets hyper-scale and enterprise equipment to accommodate the specialized requirements of the local data center industry. The facility has complete certification, including R2v3 accreditation, a recognized certification for responsible electronics recycling, and is set to generate over 100 new positions in the Fredericksburg area. The facility utilizes sophisticated technical tools to handle hyper-scale and enterprise equipment and guarantees complete forensic data extraction from tech devices. The aim of the site is to assist the area's data center industry by preventing the shipment of rare metals to landfills.
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What Are the Top Revenue-Generating Geographies in the Cloud Computing Data Center IT Asset Disposition Market?
North America was the largest region in the cloud computing data center IT asset disposition market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud computing data center it asset disposition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cloud Computing Data Center IT Asset Disposition Market?
2. What is the CAGR expected in the Cloud Computing Data Center IT Asset Disposition Market?
3. What Are the Key Innovations Transforming the Cloud Computing Data Center IT Asset Disposition Industry?
4. Which Region Is Leading the Cloud Computing Data Center IT Asset Disposition Market?
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