Report Id: SNS/ICT/2624 | July 2022 | Region: Global | 139 Pages
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.
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.
Inadequate awareness and excessive service costs.
There are no comprehensive IT asset disposition procedures in place.
E-waste has a negligible value recovery.
Strategic alliances and acquisitions.
Increased demand for IT asset disposition from small and medium-sized businesses.
Increased sales of used equipment on auction websites.
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.
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
On The Basis of Asset Type
On The Basis of Organization Size
Small and Medium-sized Enterprises
On The Basis of End User
IT and Telecom
Aerospace and Defense
Public Sector and Government
Media and Entertainment
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.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
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
|Market Size in 2022||US$ 15.06 Billion|
|Market Size by 2030||US$ 28.43 Billion|
|CAGR||CAGR of 8.27% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• 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)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, 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)
|Company Profiles||IBM Corporations, Tes-Amm India Private Limited, EOL IT Services, Sims Recycling, Solutions. Inc, ITRenew, Exit Technologies, GreenTek Teman Pvt Ltd, Maxicom Network Inc, Dell, and HP|
|Key Drivers||•Compliance with environmental regulatory compliances is required.
•Data and information security requirements for ancient assets.
|RESTRAINTS||•Inadequate awareness and excessive service costs.
•There are no comprehensive IT asset disposition procedures in place.
Frequently Asked Questions (FAQ) :
Ans: - The forecast period of the IT Asset Disposition (ITAD) market is 2022-2028.
Ans: - Unauthorized service providers and unsustainable practices are present.
Ans: - 4 segments of the IT Asset Disposition (ITAD) Market.
Ans: - The major key players are IBM Corporations, Tes-Amm India Private Limited, EOL IT Services, Sims Recycling, Solutions. Inc, ITRenew, Exit Technologies, GreenTek Teman Pvt Ltd, Maxicom Network Inc, Dell, and HP.
Ans: - Manufacturers, Research Institutes, university libraries, suppliers, and distributors of the product.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. IT Asset Disposition (ITAD) Market Segmentation, by Service
8.1 De-Manufacturing and Recycling
8.2 Remarketing and Value Recovery
8.3 Data Destruction/Data Sanitization
8.4 Logistics Management and Reverse Logistics
8.5 Other Services
9. IT Asset Disposition (ITAD) Market Segmentation, by Asset Type
9.3 Mobile Devices
9.4 Storage Devices
9.6 Networking Devices
10. IT Asset Disposition (ITAD) Market Segmentation, by Organization Size
10.1 Small and Medium-sized Enterprises
10.2 Large Enterprises
11. IT Asset Disposition (ITAD) Market Segmentation, by End-User
11.3 Media & Entertainment
11.6 Government & Defense
11.7 Education & Research
11.9 Healthcare & Bioscience
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13. Company Profiles
13.1 IBM Corporations
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Tes-Amm India Private Limited
13.3 EOL IT Services
13.4 Sims Recycling Solutions. Inc
13.6 Exit Technologies
13.7 GreenTek Teman Pvt Ltd
13.8 Maxicom Network Inc
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
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