China Emerges as a Major Player in the IT Asset Disposition Market, Poised to Reach $5.1 Billion by 2030

Dublin, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The "IT Asset Disposition (ITAD) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global IT Asset Disposition (ITAD) market is poised for remarkable growth, with an estimated value of US$16.8 billion in 2022, and a projected surge to US$34 billion by 2030. This impressive expansion is anticipated at a solid CAGR of 9.2% over the analysis period spanning 2022 to 2030.

Remarketing & Value Recovery Leads the Way

Among the segments analyzed in the report, Remarketing & Value Recovery stands out, projected to achieve a significant 9.9% CAGR, reaching a value of US$8.6 billion by the end of the analysis period. Growth in the De-Manufacturing & Recycling segment is also notable, with an estimated 8.2% CAGR over the next eight years.

Global Leaders and Geographic Highlights

The United States IT Asset Disposition (ITAD) market is estimated at a substantial US$6.3 billion in 2022, highlighting strong growth prospects. Meanwhile, China, as the world's second-largest economy, is set to reach an impressive projected market size of US$5.1 billion by 2030, driven by a compelling CAGR of 11.7% from 2022 to 2030. Other noteworthy geographic markets include Japan and Canada, each forecasted to experience robust growth at 8% and 9.1%, respectively, during the 2022-2030 period. Within Europe, Germany is expected to grow at a steady 9% CAGR.

Key Competitors

Key players in the IT Asset Disposition (ITAD) market include:

1. Apple, Inc.
2. Adamec Recycling GmbH
3. ADL Process, Inc.
4. Advanced Technology Recycling
5. Advantage E-Cycling
6. Asset LifeCycle LLC
7. Apto Solutions, Inc.
8. A2Z Group
9. 406 Recycling
10. A1 Assets, Inc.
11. ARCA Recycling, Inc.
12. ADAPTURE Technology Group
13. Adonis
14. Akooba
15. 3 Step IT Group

Optimistic Economic Outlook

The global economic outlook is showing signs of improvement, with growth recovery expected for the upcoming years. The United States has successfully navigated recession threats despite slowing GDP growth. In the Euro area, easing headline inflation is boosting real incomes and driving economic activity. China is poised for substantial GDP growth as the pandemic recedes, and India is on track to become a trillion-dollar economy by 2030, surpassing Japan and Germany.

Despite these positive trends, various challenges persist, including uncertainty around the war in Ukraine, slower-than-expected global headline inflation decline, and ongoing food and fuel inflation in developing countries. High retail inflation is affecting consumer confidence and spending. Governments are addressing these challenges by raising interest rates to combat inflation, which may impact job creation and economic activity. The regulatory environment is also tightening, with growing pressure to integrate climate change into economic decisions.

Investment Opportunities in Emerging Technologies

While corporate investments may face inflation-related concerns and weaker demand, the rise of new technologies presents opportunities. Generative AI, applied AI, machine learning industrialization, next-generation software development, Web3, cloud and edge computing, quantum technologies, electrification, renewables, and climate technologies are poised to reshape the global investment landscape. These technologies have the potential to drive significant incremental growth and value to global GDP in the coming years.

In this dynamic environment, businesses and leaders who exhibit resilience and adaptability are well-positioned to seize the opportunities that lie ahead.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed?
• Progress on Vaccinations: Why Should Businesses Care?
• With IMF's Upward Revision of Global GDP Forecasts, Most Companies are Bullish about an Economic Comeback Despite a Continuing Pandemic
• A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2023
• IT Asset Management Industry from the Pandemic Lens
• COVID-19-Induced Challenges Affecting IT Asset Disposition Programs
• Asset Storage & Relocation Services Gain Traction
• IT Asset Disposition Players to Gain from Delayed Projects & Pent-Up Demand in 2022 and Beyond
• ITAD Vendors Innovate with Disposal Box Programs
• Competitive Scenario
• Electronics Recycling & IT Asset Disposition Players Mend Ways to Deal with COVID-19
• With Impact of COVID-19 Waning Gradually, IT Asset Disposition Companies Get Back to Business
• IT Asset Disposition (ITAD) - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
• Global Market Prospects & Outlook
• World IT Asset Disposition Market by Asset Type (2020 & 2027): Percentage Breakdown of Revenues for Computers/Laptops, Mobile Devices, Servers, Peripherals, Storage Devices, and Other Asset Types
• COVID-19-Led New Normal Holds Major Implications for IT Asset Disposition Strategy
• ITAD Market to Remain in Upswing Mode & Move Forward Swiftly
• Key Trends & Disruptions Impacting the Market
• Analysis by Service Type
• Data Destruction & Data Sanitization: Largest Service Segment
• World IT Asset Disposition Market by Service (2020 & 2027): Percentage Breakdown of Revenues for Remarketing & Value Recovery, De-Manufacturing & Recycling, Data Destruction/Data Sanitization, Logistics Management & Reverse Logistics, and Other Services
• Remarketing & Value Recovery Services Remain Highly Relevant
• Robust Demand for ITAD De-Manufacturing & Recycling Services
• Logistics Management & Reverse Logistics Gain Traction
• BFSI, IT & Telecom, and Media & Entertainment: Major End-Users Presenting Growth Opportunities
• World IT Asset Disposition Market by End-Use (2020 & 2027): Percentage Breakdown of Revenues for IT & Telecom, Media & Entertainment, BFSI, Healthcare, Government, Educational Institutions, and Other End-Uses
• While Developed Regions Remain Major Revenue Generators, Developing Regions Emerge as Fastest Growing Markets
• World IT Asset Disposition Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
• Global IT Asset Disposition Market - Geographic Regions Ranked by Value CAGR for 2020-2027: China, Asia-Pacific, Rest of World, Canada, USA, Europe, and Japan
• Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Thriving Trends with Big Implications for IT Asset Disposition
• ITAD: A Critical Strategy to Stay Relevant in Changing & Evolving Technology Arena
• Ongoing Drive towards Digital Transformation Instigates Opportunities
• Global Digital Transformation Spending (In US$ Trillion) for the Years 2019 through 2023
• Large Installed Base of IT Assets & Sustained Investments on IT Devices Augurs Well
• Quicker Obsolescence of IT Devices & Resulting E-Waste Volumes Amplify the Need for ITAD
• Average Lifespan (in Years) of Select IT Products
• Data Security Concerns associated with Discarded IT Equipment Build Robust Momentum
• Critical Importance of IT Asset Management in Modern Enterprise Environments Points Towards Progressive Adoption of ITAD Services
• Expanding IoT Ecosystem Provides Steady Demand Prospects
• Global Number of IoT Connected Devices (In Billion) for the Years 2016, 2018, 2020, 2022 & 2025P
• Global IoT Spending: Percentage Breakdown by Industry Vertical for the Years 2018 and 2022E
• IoT Big Data Generated by Connected Devices Worldwide (In Zettabytes) for the Years 2018 & 2025P
• Widespread Adoption of Cloud Computing Elevates Prospects for ITAD
• Global Public Cloud Computing Market (in US$ Billion) by Segment for the Years 2019 and 2022E
• Key Benefits Driving Adoption of Cloud Services of Large, Medium and Small Businesses
• Rise of Cloud Data Center Spurs the Demand for ITAD Services
• Global Data Center IP Traffic Breakdown (in %) by Cloud and Traditional Data Centers for the Years 2017, 2019 and 2021E
• With BYOD Evolving into Mainstream Enterprise Concept, Opportunities Galore for ITAD Services Market
• Key Factors Encouraging BYOD Trend among Enterprises Ranked by Importance Attached by Enterprises
• Smartphone Nurtures BYOD Ecosystem
• Worldwide Smartphone Sales (in Million Units) by Geographic Region/Country for the Years 2018 & 2022E
• Smartphone Adoption Worldwide by Region (in %): 2018 & 2025P
• Surging Smartphone Penetration: Smartphone Users as % of Global Population for the Period 2018-2022E
• Tablet PCs
• Growing Use of Recyclable Materials in Making IT Devices Augurs Well for ITAD Market
• Involvement of Device Manufacturers & Retailers Boosts Market Prospects
• Ongoing Trade Wars to Impact the ITAD Market
• Resolving Prevailing Issues & Challenges: Critical for Future Success of ITAD Services Market
• Transit Challenges
• Material & Process Level Challenges
• Smaller & Thinner IT Devices Amplify the Complexity
• Low Awareness Levels Thwart Industry Efforts
• Low Commodity Price Values: A Major Challenge
• Pandemic Led Changing IT Landscape Throws Challenges for ITAD

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/5ex53a

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