The global IT Asset Disposition Market size is projected to be USD 54,535.4 million by 2030, according to the latest study conducted by Grand View Research, Inc. The market is expected to exhibit a CAGR of 13.3% from 2023 to 2030. The growth of the ITAD market can be attributed to the increasing e-waste and the rising requirement for recycling in consideration of sustainability and a green planet.
For
instance, according to the Indian Ministry of Electronics and Information
Technology, India generated 3.2 million tonnes of electronic waste in 2019, and
only 10% of e-waste was taken up for recycling. Such an alarming figure has
resulted in the demand for ITAD solutions, thereby driving the market’s growth.
Various
companies have been coming up with ITAD solutions with enhanced capabilities,
which can serve multiple industries. Moreover, companies operating in the ITAD
market have also been involved in various strategic initiatives and R&D,
among others, to improve their share in the ITAD market. For instance, in
January 2023, ERI announced that it had become 100% carbon neutral for all its
operational emissions across the U.S.
The
company achieved this by implementing carbon-reducing measures such as
energy-efficient lighting, using zero-emission vehicles, fleet management, and
using electric forklifts, among others. 100% Carbon neutrality would help the
company better position in the ITAD market, which would thereby help in driving
the growth of the ITAD market over the forecast period.
Cloud
transition is another significant aspect that has been pivotal in driving the
growth of the IT asset disposition industry over the forecast period. Cloud
migration's benefits include increased flexibility and agility, reduced costs,
enhanced cybersecurity, simplified management, and disaster recovery. All these
attributes have made it a go-to area for businesses operating in various
industries.
Moreover,
the presence of ITAD solution providers in the market who are equipped to
assist in cloud migration services and ITAD has been a significant boost to the
growth of the IT asset disposition industry. For instance, Apto Solutions Inc.
offers cloud migration services, in which the company handles the existing
hardware for carrying out the following operations.
- Data
destruction
- Asset
inventory
- Logistics to
one of the company’s certified facilities
Post
carrying out these operations, the company either sells or recycles the
hardware component. The presence of companies that offers a total solution, as
in the case of Apto Solutions Inc., has been a significant boon to the growth
of the IT asset disposition industry.
List of Key Players in the IT Asset Disposition Market
- Apto
Solutions Inc.
- CompuCom
Systems, Inc.
- Dell Inc.
- Hewlett
Packard Enterprise Development LP
- IBM
Corporation
- Ingram Micro
Services
- Iron
Mountain
- ITRenew
- LifeSpan
International Inc.
- Sims
Lifecycle Services, Inc.
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Asset Disposition Market Report
IT Asset Disposition Market Report Highlights
- The
computers/laptops segment is expected to occupy the largest revenue share
by asset type in 2030. The growth can be attributed to digitalization,
especially in low-income countries, and rising internet users, among
others
- The
smartphone segment is expected to witness the highest CAGR by asset type
during the forecast period. The growth can be attributed to increased
smartphone sales, increasing internet penetration, and smartphones coming
up with enhanced smartphones quite often, among others
- The IT &
telecom industry is expected to occupy the largest share of the market in
terms of end-use by 2030, owing to an increase in internet users, adoption
of 5G technology, and increased demand for connectivity worldwide, among
others
- Asia Pacific
is projected to witness the highest CAGR from 2023 to 2030. The region is
home to some tech giants such as Samsung, Sony Corporation, and LG
electronics, among others. Moreover, the increasing digitalization in
countries such as Indonesia, Vietnam, and Bangladesh is another factor
contributing to the growth of the Asia Pacific region
- Global
players include Apto Solutions Inc.; Dell Inc.; IBM Corporation; and Iron
Mountain. These major players are embracing organic and inorganic growth
strategies, which include product innovation, investments in R&D, and
M&A activities to acquire a larger industry share
IT Asset Disposition Market Segmentation
Grand
View Research has segmented the global IT asset disposition market based on
asset type, end-use, and region:
IT Asset Disposition Asset Type Outlook (Revenue; USD
Billion, 2018 - 2030)
- Computers/Laptops
- Smartphones
and Tablets
- Peripherals
- Storages
- Servers
- Others
IT Asset Disposition End-use Outlook (Revenue; USD
Billion, 2018 - 2030)
- BFSI
- IT &
Telecom
- Government
- Energy and
Utilities
- Healthcare
- Media and
Entertainment
- Others
IT Asset Disposition Regional Outlook (Revenue; USD
Billion, 2018 - 2030)
- North
America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Singapore
- South Korea
- Rest of
Asia Pacific
- Latin
America
- Brazil
- Mexico
- Argentina
- Middle East
& Africa
- UAE
- Saudi
Arabia
- South
Africa
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