Pune, March 01, 2023 (GLOBE NEWSWIRE) -- IT Asset Disposition (ITAD) Market Scope & Growth Analysis:
As per SNS Insider, the IT asset disposition (ITAD) Market was valued at USD 15.06 billion in 2022 and is anticipated to expand at a CAGR of 8.27% during the forecast period of 2023-2030, ultimately reaching a valuation of USD 28.43 billion.
The IT asset disposition (ITAD) market is witnessing significant growth, largely driven by the focus of leading vendors on product development and new product launches. These factors have resulted in more efficient products that provide a competitive edge in the market, especially in terms of energy efficiency. This has led to increased demand for ITAD solutions among businesses of all sizes, including small and large enterprises. The growing use of IT systems across various industries has been a major factor contributing to the growth of the ITAD market.
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Major Trends Observed for IT Asset Disposition (ITAD) Market
- The large-sized enterprises segment is expected to show the highest growth in the market during the forecasted period. This growth can be attributed to the increasing use of IT systems in these organizations, which is creating a need to dispose of outdated or obsolete equipment.
- The destruction of data segment holds the largest share, and this trend is expected to continue in the coming years. This can be attributed to the emerging developments in media sanitization, data storage devices, and the adoption of cryptographic erase methods.
- North America is currently leading the global market and is expected to continue to dominate during the forecasted period. The region's growth can be attributed to the increasing installation of IT systems, including computers and servers, in various industries.
Major Key Players Included in this Report are:
- IBM Corporations
- Tes-Amm India Private Limited
- EOL IT Services
- Sims Recycling, and Solutions. Inc
- ITRenew
- Exit Technologies
- GreenTek Teman Pvt Ltd
- Maxicom Network Inc
- Dell
- HP
Impact of recession on IT Asset Disposition (ITAD) Market:
The ITAD market has experienced steady growth in recent years, driven by the increasing demand for electronic devices and the need for secure and sustainable disposal solutions. However, the market has also been impacted by economic recessions, which can have significant implications for the ITAD industry. During a recession, companies may be more inclined to hold onto their electronic assets rather than dispose of them, as a way to reduce costs and maximize the lifespan of their equipment.
IT Asset Disposition (ITAD) Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 15.06 Billion |
| Market Size by 2030 | US$ 28.43 Billion |
| CAGR | CAGR of 8.27% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Key Market Segments | • By Service (De-Manufacturing and Recycling, Remarketing and Value Recovery, Data Destruction/Data Sanitization, Logistics Management and Reverse Logistics, and Other Services) • By Deployment Asset Type (Computers/Laptops, Servers, Mobile Devices, Storage Devices, Peripherals, and Networking Devices) • By Organization Size (Small and Medium-sized Enterprises, and Large Enterprises) • By End User (BFSI, IT and Telecom, Educational Institutions, Healthcare Industry, Aerospace, and Defense, Public Sector and Government, Manufacturing, Media and Entertainment, and Others) |
| Key Regional Coverage | North America, Europe, Asia-Pacific, The Middle East & Africa, Latin America |
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Key Developments Related to IT Asset Disposition (ITAD) Market:
- ERI, a leading ITAD provider and hardware destruction company based in Fresno, California, has announced the launch of its proprietary Optech Capture system. The new system is designed to manage and track the asset chain of custody throughout the entire ITAD process, providing comprehensive data and analytics to ERI clients.
- Apto Solutions, a leading provider of IT asset disposition (ITAD) services, has announced the launch of its new Environmental Impact Reporting Tool. The tool is designed to provide real-time data to clients, specifically tailored to aid in ESG reporting. With this tool, companies can track the amount of greenhouse gas emissions saved from reuse and recycling activities with Apto Solutions.
Key Market Segments are Listed in this Report:
Segment by Service
- De-Manufacturing and Recycling
- Remarketing and Value Recovery
- Data Destruction/Data Sanitization
- Logistics Management and Reverse Logistics
- Other Services
Segment by Asset Type
- Computers/Laptops
- Servers
- Mobile Devices
- Storage Devices
- Peripherals
- Networking Devices
Segment by Organization Size
- Small and Medium-sized Enterprises
- Large Enterprises
Segment by End User
- BFSI
- IT and Telecom
- Educational Institutions
- Healthcare Industry
- Aerospace and Defense
- Public Sector and Government
- Manufacturing
- Media and Entertainment
- Others
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