Dublin, Sept. 20, 2022 (GLOBE NEWSWIRE) -- The "Global IT Asset Disposition Market by Service Type, Asset Type (Computers/Laptops, Servers, Mobile Devices, Storage Devices, Peripherals), Organization Size (Small & Medium-sized Enterprises, Large Enterprises), End-user and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global IT asset disposition market is valued at USD 15.5 billion in 2022 and is anticipated to be USD 23.5 billion by 2027; growing at a CAGR of 8.7% from 2022 to 2027
The growing demand of factors such as need for data and information security in old assets to grow the market at an estimated rate.
IT asset disposition services are highly useful in destroying confidential or sensitive data such as trade secrets, confidential lists, clients' names, credit card data, or other potentially high-risk information. The process involves on-site, as well as off-site, sanitizing or wiping service for safe and secure data destruction while preserving the use and functionality of the hard drive.
IT asset disposition service providers ensure that the company's sensitive data is destroyed before it leaves the facility. The provider erases, degausses, or physically shreds the media devices of the company.
Surge in data breaches has forced data center providers to dispose off IT assets before decommissioning
The components of servers include Central Processing Units (CPUs),high-performance RAMs, and one or more hard drives. Recycling a decommissioned server involves taking apart hardware and components, including drives, memory, fans, power supply, and network adapter cards that can be used again. If the chassis or board is too old or too damaged for reuse and resale, it is recycled responsibly with a qualified electronics recycling vendor.
Need to comply with regulatory compliances meant for environment safety
there is a growing awareness among people toward the need to protect the environment. This has led to the growing acceptance of appropriate processes and methods for the disposal of waste.
One of the most environmentally harmful components of waste is e-waste, which requires proper care and safety for its appropriate disposal and destruction, creating a demand for IT asset disposition services. Thus, many companies are implementing green technologies as a step toward environmental safety, which is also driving the IT asset disposition market.
Competitive landscape
The key players operating in the IT asset disposition market include a few globally established players such as Dell Technologies (US), Hewlett Packard Enterprise (US), IBM (US), Sims Limited (Australia), Iron Mountain (US), 3StepIT (Finland), TES (Singapore), and Apto Solutions (US).
Premium Insights
- Increasing Adoption of IT Asset Disposition in Asia-Pacific to Drive Market
- Small and Medium-Sized Enterprises to Register Higher CAGR During Forecast Period
- Computers/Laptops Dominated IT Asset Disposition Market in 2021
- North America: US and BFSI to Hold Largest Shares of IT Asset Disposition Market in 2027
- Remarketing and Value Recovery Segment to Register Highest CAGR from 2022 to 2027
- US to Hold Largest Share of IT Asset Disposition Market in 202
Market Dynamics
Drivers
- Need to Comply with Regulatory Compliances Meant for Environment Safety
- Requirement for Data and Information Security in Old Assets
- Evolution of Technologies and Consolidation of BYOD Trend
- Shift Toward Energy-Efficient Products
Restraints
- Low Awareness and High Service Costs
- Lack of Comprehensive IT Asset Disposition Policies
- Negligible Value Recovery from e-Waste
Opportunities
- Strategic Partnerships and Acquisitions
- Rise in Demand for IT Asset Disposition from Small and Medium-Sized Enterprises
- Growing Sales of Old Equipment on Auction Websites
Challenges
- Presence of Unauthorized Service Providers and Unsustainable Practices
- Lack of Budget for IT Asset Disposition
Technology Analysis
- Growing Use of Internet of Things (IoT) Positively Impacting IT Asset Disposition Market
- Integration of Artificial Intelligence with IT Asset Disposition Solutions
Case Study Analysis
- Top Health-Tech Company Fast Tracked Data Center Decommissioning with Iron Mountain's Services
- Excess Logic Helped Media Technology Company with Asset Disposition
- TES Helped Client Achieve USD 8.4 Billion Net Financial Return for Retired IT Equipment
- Ingram Micro Helped Healthcare Organization in Corporate Asset Refresh
Market Regulations and Standards
- Standards
- Regulations
- Restriction of Hazardous Substances (RoHS) and Waste Electrical and Electronic Equipment (WEEE)
- General Data Protection Regulation (GDPR)
- Import-Export Laws
- Standards in ITS/C-ITS
Company Profiles
Key Players
- Dell Technologies
- Hewlett Packard Enterprise
- IBM
- Sims Limited
- Iron Mountain
- 3StepIT
- TES
- Apto Solutions
- Lifespan International
- Total IT Global
Other Players
- Oceantech
- BRP Infotech
- Curvature
- TBS Industries
- Ingram Micro
- Inrego
- Atea
- Renewtech
- Blancco Technology
- Prolimax
- EOL IT Services
- Flex IT Distribution
- CSI Leasing
- CHG Meridian Group
For more information about this report visit https://www.researchandmarkets.com/r/iwdbsm
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