SAN FRANCISCO, U.S., Sept. 13, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “IT Asset Disposition Market Size, Share, Growth Analysis Report By Service (De-Manufacturing & Recycling, Remarketing & Value Recovery, Data Destruction/Data Sanitation, Logistics Management & Reverse Logistics, Other Services (On-site Audit solutions and Clients’ Online Portals)), By Asset Type (Computers/Laptops, Servers, Mobile Devices, Storage Devices, Peripherals), By Organization Size (Small & Medium-Sized Enterprises, Large Enterprises), By End-User (Banking, Financial Services & Insurance (BFSI), IT & Telecom, Education, Healthcare, Aerospace & Defense, Public Sector & Government Offices, Manufacturing, Media & Entertainment, Others (Energy & Utility, Construction & Real Estate, Logistics & Transportation)), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global IT Asset Disposition Market size & share was valued at approximately USD 14.8 billion in 2021. The market is expected to grow above a CAGR of 8.40% and is anticipated to reach over USD 24.01 billion by 2028.”
The report analyses the IT Asset Disposition market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global IT Asset Disposition market.
Market Overview:
Disposing of outdated or unneeded equipment in a secure and ecologically friendly manner is known as IT asset disposition. Data security for storage devices is managed along with properly disposing of environmentally sensitive elements in IT asset disposition. The replacement cycle for IT equipment in IT firms is extremely high, and ITAD vendors are experts at streamlining IT assets' disposal while minimizing costs and maximizing loss recovery. Businesses frequently change their IT infrastructure. Due to the potential risks to data security and environmental concerns posed by all deactivated electronic equipment, disposing of IT assets may be a difficult and dangerous procedure for large businesses.
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Key Insights from Primary Research
- As per the analysis, the IT Asset Disposition market is likely to grow above a CAGR of around 8.40% between 2022 and 2028.
- The IT Asset Disposition market size was worth around US$ 14.8 billion in 2021and is estimated to hit approximately US$ 24.01 billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- By services, the data destruction/sanitation category dominated the market in 2021.
- By end-user, the media and entertainment category dominated the market in 2021.
- On the basis of region, North America dominated the global IT asset disposition market in 2021
Competitive Players
The report contains qualitative and quantitative research on the global IT Asset Disposition Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global IT Asset Disposition market include:
- DELL TECHNOLOGIES
- STEPIT
- IRON MOUNTAIN
- TES
- HEWLETT PACKARD ENTERPRISE
- IBM
- SIMS LIMITED
- APTO SOLUTIONS
- LIFESPAN INTERNATIONAL
- TOTAL IT GLOBAL
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Market Dynamics
One of the key elements fueling the expansion of the global IT assets disposition market is the rising demand for data and information security in outdated assets. The market expansion is accelerated by implementing regulatory compliances and environmental safety, made possible by legislation requiring secure and ecologically responsible disposal of e-waste. Small and medium-sized businesses' growing desire for IT asset disposal and increased propensity to create energy-efficient products impact the industry. The market for disposing of IT assets is positively impacted by investment growth, development of end-use sectors, acceptance of cloud-based technologies, use of new technologies, and the BYOD trend.
Additionally, throughout the projected period, profitable opportunities for market participants will be expanded by strategic alliances & acquisitions and increased sales of used equipment on websites that host online auctions or employees. Conversely, it is anticipated that a lack of specific IT asset disposition regulations, unofficial norms, and unsustainable practices will impede market expansion. The IT asset disposition market is expected to face challenges over the forecast period due to low awareness and expensive service charges.
COVID-19 Impact Analysis
The global epidemic has had a negative impact on the markets of many different economies. The shutdown resulted in a complete and total standstill across the entire planet. On the other hand, the most significant companies in the ITAD market are making significant efforts to counteract the unfavorable effects, which are made possible by rules enacted by the government as well as opportunities for integrating and altering supply chain analyses. The increasing number of electronic gadgets that are owned by individual consumers is one reason that is driving this trend.
The ITAD is a way of disposing of equipment that is both well-supported and devoid of problems. After the products have reached the end of their useful lives, the next step for them is to be disposed of. This is in preparation for a big rebound of ITAD after the age of COVID-19, which will increase their share of the worldwide market.
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Segmentation Analysis
The global IT asset disposition market has been segmented into service, asset type, deployment mode, organization size, verticals, and region.
Based on the service, the IT asset disposition market is segregated into de-manufacturing & recycling, remarketing & value recovery, data destruction/data sanitation, logistics management & reverse logistics, and other services (on-site audit solutions and client online portals). Among these, the data destruction/data sanitation segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Based on the asset type, the IT asset disposition market is segregated into computers/laptops, servers, mobile devices, storage devices, and peripherals. Among these, the computers/laptops segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. The IT asset disposition market is segregated into small & medium-sized enterprises and large enterprises based on organization size. Among these, the large enterprise segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period.
Based on end-user, the IT asset disposition market is segmented into banking, financial services & insurance (BFSI), IT & telecom, education, healthcare, aerospace & defense, manufacturing, public sector & government offices, media, & entertainment, and others (energy & utility, logistics & transportation, construction, and real estate). Among these, the media & entertainment segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period.
Regional Analysis
The global IT asset disposition market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. North America dominated the global IT asset disposition market in 2021 due to a booming IT industry and an increase in cloud data centers in the region. Due to ongoing developments in asset disposal technology, such as advancements in data security and recycling techniques, it is projected that the market for IT asset disposition in North America will grow. Furthermore, the region is becoming more concerned with data security, which unintentionally affects the market for selling IT assets. Additionally, it is predicted that over the coming years, there will be a significant increase in the adoption of IT asset disposition solutions due to a greater reliance on outsourced data hosting and processing, driven by the expansion of multi-tenant data centers (MTDC) in this region.
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Recent Industry Developments:
- February 2022: Three firms signed a memorandum of agreement allowing energy companies to build and run green hydrogen facilities: IBM, Worley, and ABB. Worley will supply engineering and construction services, ABB will provide electrical infrastructure, and IBM will provide system integration services.
- November 2020: Sims Lifecycle Services joined forces with the Dutch Data Center Association to become a high-quality provider of data center services. This collaboration bolstered the data center sector's economic growth and presence in the European region.
Key questions answered in this report:
- What is the market size and growth rate forecast for IT Asset Disposition industry?
- What is the main driving factors propelling the IT Asset Disposition Market forward?
- What are the leading companies in the IT Asset Disposition Industry?
- What segments does the IT Asset Disposition Market cover?
- How can I receive a free copy of the IT Asset Disposition Market sample report and company profiles?
Report Scope:
| Report Attribute | Details |
| Market Size in 2021 | USD 14.8 Billion |
| Projected Market Size in 2028 | USD 24.01 Billion |
| CAGR Growth Rate | 8.40% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | DELL TECHNOLOGIES, STEPIT, IRON MOUNTAIN, TES, HEWLETT PACKARD ENTERPRISE, IBM, SIMS LIMITED, APTO SOLUTIONS, LIFESPAN INTERNATIONAL, TOTAL IT GLOBAL, and Others |
| Key Segment | By Service, Asset Type, Organization size, End-User, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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The global IT Asset Disposition market is segmented as follows:
By Service
- De-Manufacturing and Recycling
- Remarketing and Value Recovery
- Data Destruction/Data Sanitation
- Logistics Management and Reverse Logistics
- Other Services (On-site Audit solutions and Clients’ Online Portals)
By Asset type
- Computers/Laptops
- Servers
- Mobile Devices
- Storage Devices
- Peripherals
By Organization size
- Small and Medium-sized Enterprises
- Large Enterprises
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
- Others (Energy and Utility, Construction and Real Estate, Logistics and Transportation)
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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