Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “IT Asset Disposition (ITAD) Market (By Asset Type: Hardware, Computer/Laptops, Mobile Devices, Peripherals, Storages, Servers, Others; By Service: Data Sanitation / Destruction, Recycling, Remarking, Asset Discovery, Reverse Logistics; By Enterprise Size: Small Enterprises, Medium Enterprises, Large Enterprises; By End-use Industry: BFSI, Government & Public, IT & Telecom, Aerospace & Defense, Healthcare, Energy & Utilities, Media and Entertainment, Data Centers, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”.
LOS ANGELES, March 26, 2019 (GLOBE NEWSWIRE) -- The global IT asset disposition (ITAD) market size is anticipated to around USD 22,150.4 million by 2026, this market is anticipated to grow with 6.9% CAGR during the forecast time period. The increase in IT waste disposal is one of the factors that is expected to drive the growth of the global IT asset disposition (ITAD) market.
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The rising demand for IT asset disposition (ITAD) from the IT industry is projected to boost the global IT asset disposition (ITAD) market. Numerous factors such as the increase in disposable income, ecological impact, and rise in consumer awareness are the latest trends that are urging the overall IT industry. In turn, these factors are anticipated to fuel the demand for the IT asset disposition (ITAD) market in the upcoming years. Moreover, the growing IT industry is some of the major factors expected to boost the demand for IT asset disposition (ITAD) market during the forecast period.
Data breaches result in monetary losses. When the IT asset is used for disposal, then it is necessary for the organization to guarantee that the data stored in the asset is either transferred or destroyed. The growing trend of migration of data to the cloud is the primary reason for the replacement of older IT infrastructure. This is expected to drive the IT asset disposition (ITAD) market significantly. Furthermore, the governments are focused on undertaking the environmental concerns that are arising from electronic waste, thus causing in the introduction of several regulations regarding the harmless disposal of IT assets. These regulations are convincing companies to approach the ITAD vendors in order to dispose of their IT assets as per the industry standards. All these factors are expected to drive the demand for the global IT asset disposition (ITAD) market.
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The global IT asset disposition (ITAD) market is segmented into asset type, service, enterprise size, end-use industry, and region. On the basis of asset type, the global IT asset disposition (ITAD) market is segmented into hardware, computer/laptops, mobile devices, peripherals, storages, servers, and others. On the basis of service, the global IT asset disposition (ITAD) market is segmented into data sanitation/destruction, recycling, remarking, asset discovery, and reverse logistics. On the basis of enterprise size, the global IT asset disposition (ITAD) market is segmented into small enterprises, medium enterprises, and large enterprises. On the basis of end-use industry, the global IT asset disposition (ITAD) market is segmented into BFSI, government & public, IT& telecom, aerospace & defense, healthcare, energy & utilities, media and entertainment, data centers, and others. On the basis of the region, the global IT asset disposition (ITAD) market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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The North America region is expected to lead the global IT asset disposition (ITAD) market followed by Europe and Asia Pacific region. The market in North America is expected to grow significantly which is attributed ti due to the significant growth in the IT industry; the region is anticipated to remain the largest market for IT asset disposition (ITAD) in the coming years. Another factor is the strict government policies which are encouraging organizations to adopt the means for safe and proper disposal of their assets. Europe was the second largest market in the global ITAD market. The data security and safety regulations are supporting the growth of the IT asset disposition (ITAD) market in the Europe region. Countries such as Germany, France, and the UK have shown substantial demand for ITAD services. The Asia Pacific is expected to be at the forefront of global demand and increasing at a significant CAGR during the forecast period.
The prominent players operating in the global IT asset disposition (ITAD) market are Apto Solutions, Dell, Inc., Exit Technologies, GreenTekReman Pvt. Ltd, ICEX Ltd, Iron Mountain, Inc., LifeSpan International, Inc., MultiTek, LLC., TBS Industries, The Centrics Group, Arrow Electronics, EOL IT Services, Wisetek, Gigacycle, HP Ltd., Ingram Micro, Inc. (Formerly CloudBlue), ITRenew, Inc., Maxicom Network, Inc., Sims Recycling Solutions, Inc., and TES-AMM Pte Ltd. (Formerly Dataserv Group), etc.The demand for IT asset disposition (ITAD) in the North America region is expected to grow rapidly during the forecast period owing to the huge consumption of electronic devices.The market across the globe is dominated by large players and is moderately consolidated. The strategic initiatives initiated by global companies include partnerships, new product launch, acquisitions, and mergers.The R&D investments coupled with the advanced technologies are expected to offer innovative solutions that are estimated to offer lucrative growth opportunities for industry players in the global IT asset disposition (ITAD) market.
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