IT Asset Disposition (ITAD) Market Size, Share & Segmentation 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), by Regions and Global Market Forecast 2023-2030

Report Scope & Overview:

IT Asset Disposition (ITAD) Market size was valued at USD 15.06 Bn in 2022 and is expected to reach USD 28.43 Bn by 2030, and grow at a CAGR of 8.27 % over the forecast period 2023-2030.

Many businesses use IT asset disposal (ITAD) solutions to recycle and destroy IT equipment in an environmentally responsible, dependable, and secure way. Several businesses throughout the world are gradually deploying ITAD solutions to reduce the danger of data loss, manage IT equipment waste disposal, minimize future monetary loss, and decrease costs. Artificial intelligence (AI), cloud computing, the internet of things (IoT), and big data analytics have necessitated the need for IT asset disposal solutions to maintain data safety. Furthermore, the usage of cloud computing in ITAD has increased the reliability of the process.

MARKET DYNAMICS:

KEY DRIVERS:

• Compliance with environmental regulatory compliances is required.

• Data and information security requirements for ancient assets.

• Technology advancements and the consolidation of the BYOD trend

• Transition to more energy-efficient goods.

RESTRAINTS:

• Inadequate awareness and excessive service costs.

• There are no comprehensive IT asset disposition procedures in place.

• E-waste has a negligible value recovery.

OPPORTUNITY:

• Strategic alliances and acquisitions.

• Increased demand for IT asset disposition from small and medium-sized businesses.

• Increased sales of used equipment on auction websites.

CHALLENGES:

• Unauthorized service providers and unsustainable practices are present.

• Inadequate budget for IT asset disposal.

IMPACT OF COVID-19:

The global pandemic has had a negative impact on the markets of numerous economies. During the shutdown, the entire globe came to a halt. However, with government restrictions and prospects for merging and changing the supply chain analysis, the leading players in the ITAD market are taking significant measures to mitigate the negative consequences. Customers' rising possession of various types of electronic gadgets is functioning as a driving factor. ITAD disposal is well-supported equipment disposal that is devoid of any obstacles or difficulties. After their lifecycles have been completed, the products are disposed of. All of this is preparing for a huge ITAD resurgence after the COVID 19 era, expanding their worldwide market size.

MARKET ESTIMATION:

The IT asset disposition market has been divided into four service categories: de-manufacturing and recycling, remarketing and value recovery, data destruction/data sanitization, logistics management and reverse logistics, and other services. The remarketing and value recovery services are predicted to grow at the fastest rate over the projection period. End-of-life IT asset resale allows for the recovery of operational money while also reducing electronic waste. Various safe IT asset disposition strategies incorporate refurbishing and remarketing activities to capture value from discarded devices and components that are still usable, allowing enterprises to obtain economic value from an asset's lifespan.

During the forecast period, the ITAD market by asset type is estimated to be dominated by servers. The extensive use of the internet and social media apps, as well as the advent of new technologies such as software-defined networking and virtualization, are increasing the need for servers and data centers throughout the world. Because of the increase in data breaches, data center providers have been required to dispose of data and equipment before decommissioning them. Thus, with the assistance of IT asset disposition service providers, a data center disposes of servers that are no longer in use.

The market has been divided into small, medium-sized, and big firms based on organization size. Small and medium-sized firms are predicted to have the greatest CAGR throughout the projection period. Small and medium-sized businesses have modest budgets for their working operations with limited resources, therefore they employ data destruction and remarketing services more than other IT asset disposition services to recover expenses from used assets. Because of the broader economic uncertainty, many small and medium-sized businesses are limiting their IT spending. As a consequence, assets are improperly disposed of in landfills, which has a negative impact on the environment. However, this trend is projected to alter in the near future as IT asset disposal providers begin developing and marketing their services to small enterprises and as they become more aware of the hazards.

During the forecast period, the banking, financial services, and insurance (BFSI) industry is predicted to lead the IT asset disposal market by end user. The BFSI business stores highly safe and private data such as corporate and consumer personal information and account details. The biggest threat to this industry is a data breach, as the devices may include sensitive consumer data such as social security numbers, banking account information, and pay stubs, as well as proprietary information such as revenue estimates, payrolls, and other information. Any type of data leaking would harm consumers' and organizations’ brand image and reputation, as well as jeopardize their compliance with industry rules.

KEY MARKET SEGMENTS:

On The Basis of Service

• De-Manufacturing and Recycling

• Remarketing and Value Recovery

• Data Destruction/Data Sanitization

• Logistics Management and Reverse Logistics

• Other Services

On The Basis of Asset Type

• Computers/Laptops

• Servers

• Mobile Devices

• Storage Devices

• Peripherals

• Networking Devices

On The Basis of Organization Size

• Small and Medium-sized Enterprises

• Large Enterprises

On The Basis of End User

• BFSI

• IT and Telecom

• Educational Institutions

• Healthcare Industry

• Aerospace and Defense

• Public Sector and Government

• Manufacturing

• Media and Entertainment

• Others

REGIONAL ANALYSIS:

Because of the frequent and timely adoption of IT Asset Disposition Industry trends in North American areas, the market is already increasing in the present environment. In this sector, there are several top ITAD service providers. By the conclusion of the forecast period in 2028, the Asia-Pacific region is expected to be one of the key service providers in the IT Asset Disposition (ITAD) market. Many large and powerful technological organizations in the Asia-Pacific area are adopting the technology and migrating to BYOD. Furthermore, significant expenditures on technology, research, and development are required. Emerging data security requirements are also playing a significant influence in the increase by the end of 2028.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

KEY PLAYERS:

The major key players 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, and HP

Frequently Asked Questions (FAQ) :