New York, NY, Feb. 02, 2024 (GLOBE NEWSWIRE) -- The latest research report [115+] pages with 360-degree visibility, titled “IT Asset Disposition (ITAD) Market Share, Size, Trends, Industry Analysis Report, By Asset Type; By Organization Size (Large Enterprises, Small and Medium-sized Enterprises); By Service; By Vertical; By Region; Segment Forecast, 2024 - 2032" published by Polaris Market Research in its research repository.
The global IT asset disposition (ITAD) market size and share is currently valued at USD 15,578.94 million in 2023. It is anticipated to generate an estimated revenue of USD 32,355.70 million by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 8.5% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024-2032.
Market Definition
- What is IT Asset Disposition? How Big is IT Asset Disposition (ITAD) Market Size & Share?
IT asset disposition is a procedure that big firms use to obligingly abandon and reclaim their out moded instrument. Frequently indicated as IT asset recycling, ITAD indicates the holistic industry of abandoning outmoded or unwanted equipment in an eco-friendly and accountable manner. The rapidly rising demand for IT asset disposition (ITAD) market can be attributed to the fact that with safety, security, and obedience in mind, ITAD donors concentrate on diminishing payments and accelerating the value of the IT assets for their buyers while offering steady data demolition with series of safe keeping testimony to reinforce ecologically friendly e-waste recycling solutions.
The IT asset disposition (ITAD) market growth can be attributed to the proliferating electronic waste. As per the data from E-Waste Monitor Global, a combined endeavor including the UN and several firms, including the International Telecommunication Union, International Solid Waste Association, and UN Environment Programme, the year 2019 witnessed an advancement of 53.6 million metric tons of electronic waste. This estimate designates a surge to 74 million metric tons by 2030. This rise in electronic waste production has caused notable augmentation in the ITAD market.
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Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Market’s Key Companies
- 3stepIT
- Apto Solutions Inc.
- Atea
- Blancco Technology Group
- BRP Infotech Pvt. Ltd.
- CHG-MERIDIAN
- CSI Leasing, Inc.
- Dell Inc.
- Flex IT Distribution
- Hewlett Packard Enterprise Development LP
- IBM
- Ingram Micro
- Inrego AB
- Iron Mountain, Inc.
- LifeSpan International Inc.
- OceanTech
- Park Place Technologies
- Prolimax
- ReluTech
- Renewtech
- Sims Limited
- TBS Industries Inc.
- TES
- Tier1
- Total IT Global
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Key Highlights
- Ecologically friendly e-waste recycling solutions are causing the market to grow exponentially.
- The IT asset disposition (ITAD) market segmentation is primarily based on asset type, organization size, service, vertical, and region.
- Asia Pacific dominated the market in 2023
Market Developments
- Growth Drivers
Recycling: Relevant disposal of electronic gadgets and IT strengths is necessary when they become outdated to get through the termination of convenient lives. The IT asset disposition (ITAD) market size is expanding as these pieces delegated to reclaiming or restoration are normally known as electronic waste or e-waste. Nevertheless, deficient e-waste handling or irregular grasping implementation frequently causes the assemblage of e-waste to present probable ecological and surrounding contamination, probabilities to human health, and menaces to flora and fauna. The proportion of e-waste persists to surge relentlessly as technological progression pushes the demand for the newest electronic gadgets and IT assets.
Growing environmental awareness: Additionally, increasing ecological consciousness among persons and businesses is also stimulating the acquisition of appropriate e-waste destruction practices. The IT asset disposition (ITAD) market sales are soaring as several firms globally, as a fraction of their corporate social responsibility inventiveness, captivates reclaiming, recovery, or categorized secure abandonment of e-waste and outmoded IT assets.
- Industry Trends
Rise in cloud computing: Dependent on industry securitization, the rise in cloud computing has surfaced as a prominent propeller for the strong augmentation of the market. Businesses are moving from campus to cloud-based assistance because of deliberations such as environmental viability, data safety, and frugality. This relocation has caused an intensified demand for the constitution of many IT instruments, including network equipment, servers, storage gadgets, and cables. This move towards cloud computing has also caused an increase in data centers worldwide, stepping up the requirement for ITAD solutions customized for this ambiance.
Technological progressions: The progression of technologies and the merging of the Bring Your Device (BYOD) trend are anticipated to push the IT asset disposition (ITAD) market. Firms engage contemporary technologies to enhance the competence of several work procedures. Nevertheless, several technology-dependent services and commodities are frequently substituted with contemporary models prior to reaching their complete potential. Additionally, the discarding of undesired IT equipment becomes essential because of data center connecting, virtualization, and the enlarging acquisition of cloud services.
- Restraints
Curtailing prices: Appropriate processes must be followed when discarding IT assets and getting through the termination of their service life. In spite of the importance of ITAD, several businesses require a panoramic comprehension of its assumptions, producing provocations in the handling of ITASD procedures. Subsequently, several firms and customers, especially in advancing countries, decide on inappropriate scrapping of their IT assets to curtail prices linked with appropriate dispensation.
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Segmentation Overview
- The Data Sanitization/Data Destruction Segment Witnessed a Steep Surge
Based on service, the data sanitization/data destruction segment witnessed a steep surge. This is due to the growing demand for the appropriate discarding of IT assets and an enhanced consciousness of possible probabilities linked with robust diplomatic particulars in outmoded assets. The IT asset disposition (ITAD) market demand is on the rise as identifying the important part of data security, the exhaustive scoring out of data from assets prior to tangible tearing down or transformation is considered important to reduce probabilities connected to fiscal outcomes, data violation, and probable damage to brand image.
- The Servers Segment Dominated the Market
Based on assets, the servers segment dominated the market. The worldwide proliferation of the internet and social media entreaties, together with the surfacing of technologies such as software-interpreted collaboration, and virtualization, has activated a universal uplifting in the usage of servers and data centers. The IT asset disposition (ITAD) market trends include servers, carefully pulling for constant and undisturbed performance, circumscribing important ingredients such as escalated conducting RAM, Central Processing Units (CPU), and an additional hard drive.
IT Asset Disposition (ITAD) Market: Research Report Scope & Dynamics
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 32,355.70 Million |
| Market size value in 2024 | USD 16,828.37 Million |
| Expected CAGR Growth | 8.5% from 2024 – 2032 |
| Base Year | 2023 |
| Forecast Year | 2024 – 2032 |
| Top Market Players | 3stepIT, Apto Solutions Inc., Atea, Blancco Technology Group, BRP Infotech Pvt. Ltd., CHG-MERIDIAN, CSI Leasing, Inc., Dell Inc., Flex IT Distribution, among others |
| Segments Covered | By Asset Type, By Organization Size, By Service, By Vertical, By Region |
| Regional scope |
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| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Browse Press Release: IT Asset Disposition (ITAD) Market Size Worth $32,355.70 Million By 2032 | CAGR: 8.5%
Regional Insights
Asia Pacific: This region held the largest IT asset disposition (ITAD) market share due to the infliction of strict directives in several Asian nations, forcing businesses to welcome ITAD solutions and thus pushing market augmentation. For instance, in November 2022, the Government of India initiated its e-waste handling directive defining features such as dilated gamut of electronic goods, constricted usage of detrimental material, the requirement of enlarged fabricator accountability proof, and the direction of producers of electronic commodities to guarantee the reclaiming of electronic goods to ascertain the reclaiming of 60% of e-waste.
Europe: This region is diligently following ecologically friendly intending to decrease contamination and alternate ecological influences. This allegiance is mirrored in the market, where Europe is expected to assure a sizeable market share of revenue. The region's dynamic viewpoint on e-waste discarding has been a propelling force behind its growth.
Browse the Detail Report “IT Asset Disposition (ITAD) Market Share, Size, Trends, Industry Analysis Report, By Asset Type; By Organization Size (Large Enterprises, Small and Medium-sized Enterprises); By Service; By Vertical; By Region; Segment Forecast, 2024 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/it-asset-disposition-itad-market
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Key Questions Addressed in the Report:
- What is the CAGR expected to be recorded for the IT asset disposition (ITAD) market?
Ans: The CAGR expected to be recorded is 8.5%.
- What is the current and estimated market value of the market?
Ans: The current market value is USD 16,828.37 million, and the estimated market value is 32,355.70 million for the forecast period 2024-2032.
- Which are the major players operating in the industry?
Ans: Some of the major players operating in the industry are 3stepIT, Apto Solutions Inc., and Atea.
- Which segments are covered by the report?
Ans: The segments covered by the report are asset type, organization size, service, vertical, and region.
Polaris Market Research has segmented the IT Asset Disposition market report based on asset type, organization size, service, vertical, and region:
By Asset Type Outlook
- Mobile Devices
- Computers/Laptops
- Storage Devices
- Servers
- Peripherals
By Organization Size Outlook
- Large Enterprises
- Small and Medium-sized Enterprises
By Service Outlook
- Data Destruction/Data Sanitation
- Remarketing and Value Recovery
- De-manufacturing and Recycling
- Logistics Management and Reverse Logistics
- Other Services
By Vertical Outlook
- Public Sector and Government
- Healthcare
- IT & Telecom
- Aerospace & Defense
- Manufacturing
- Banking, Financial Services & Insurance (BFSI)
- Education
- Media & Entertainment
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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