Global IT Asset Disposition Market 2024 – 2033

Reports Description

Market Overview

According to Custom Market Insights (CMI), The Global IT Asset Disposition Market size was estimated at USD 14.2 billion in 2021 and is expected to reach USD 15.80 billion in 2022 and is estimated to grow to USD 28.56 billion by 2030, with a compound annual growth rate (CAGR) of approximately 7.6% over the forecast period.

Our research report offers a 360-degree view of the IT Asset Disposition market’s drivers and restraints, coupled with their impact on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the IT Asset Disposition market.

• IT asset disposition is the process through which unneeded or outdated equipment is typically disposed of in a secure and environmentally friendly way. ITAD suppliers are professionals at streamlining IT assets’ disposal while minimizing costs and maximizing loss recovery because businesses constantly modify their IT infrastructure. The replacement cycle for IT equipment in IT enterprises is exceptionally high. The adoption of ITAD services is fueled by the steadily increasing demand for consumer electronics and increased consumer awareness of the importance of efficiently disposing of IT assets. Additionally, the industry is growing due to current rules requiring secure and environmentally responsible e-waste disposal. The Sarbanes-Oxley Act (SOX) and the Fair and Accurate Credit Transactions Act are only two of the more than 550 rules in the US that are connected to disposing of IT assets, according to the Harvard Business Review (FACTA).
• Although many firms have a planned cycle for replacing electronic devices, businesses with outdated hardware must decide whether to restore, resell, recycle, or dispose of it. Internally, the asset management, accession, and risk management teams handle various aspects of the IT asset disposition process. A business may also work with outside ITAD-focused companies in collaboration.
• These companies often provide secure data destruction and ethical recycling of electronic trash. ITAD providers are professionals at rearranging the disposition of IT assets for their customers to reduce costs and possibly even recover some equipment value. The market for IT asset disposition has grown due to rising consumer awareness of the importance of effective IT asset disposition. Businesses also emphasize the advantages of cloud computing, which has led to a paradigm shift away from on-premise solutions and toward the cloud, which is a big market driver for IT disposition.
• The IT asset disposition market has a reverse value chain, as opposed to the forward value chain. While cost reduction, environmental restrictions, and profit maximization are prioritized in a forward value chain, cutting costs and boosting profits are two critical objectives in a reverse value chain. End users, product acquisition, reverse logistics, inspection and disposition, refurbishment, distribution, and sales are the six processes that comprise the value chain for disposing of IT assets.

Report Scope

The global IT Asset Disposition market research report offers an in-depth analysis of the global market size, further segmented into the regional and country-level market size and segmentation market growth. Also, it provides market share, sales analysis, competitive landscape, the impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations. The scope of the study includes market sizing and forecast for segmentation by asset type, end-use, and geography.

Key Market Dynamics

• The past several years have seen a notable increase in the demand for IT asset disposition, primarily due to increased investments, the expansion of end-use sectors, the adoption of cloud-based technologies, the usage of new technologies, and the BYOD trend.
• The market is driven by the massive volume of e-waste created, the necessity for appropriate e-waste disposal techniques, and the demand that businesses follow environmental regulations. Small and medium-sized businesses’ growing demand for IT asset disposal, as well as a growing trend toward the creation of energy-efficient products, also have an impact on the industry.
• Additionally, throughout the anticipated period, profitable prospects will be extended to market participants through strategic alliances and acquisitions and increased sales of used equipment on websites that offer online auctions or to employees.
• After their lifecycle, IT assets must be disposed of using the proper procedures and methods. However, it is anticipated that during the analysis period, factors like limited awareness and high service charges will restrain the growth of the IT Asset Disposition Market.
• Additionally, it is anticipated that the absence of comprehensive IT asset liquidation policies, illegal norms, and unsustainable practices will restrain market expansion.

North America Dominated the IT Asset Disposition Market in 2021

• During the forecast period, North America will hold the most significant market share for the disposal of IT assets. The market for disposing of IT assets in North America is expanding due to factors like adopting new technologies, product innovation, strict regulations, and environmental consciousness. Additionally, a growing number of cloud data centers and a thriving IT industry in the area are anticipated to drive growth in the North American IT asset disposition market over the forecast year.
• The region’s success is attributed to its booming IT industry and growing cloud data centers. Additionally, it is anticipated that the existence of various ITAD service providers and the widespread adoption of cloud-based technologies will accelerate market expansion. The flourishing IT business and expanding number of cloud data centers in the area are credited with the region’s success. Additionally, it is anticipated that the existence of various ITAD service providers and the widespread adoption of cloud-based technologies will accelerate market expansion.
• According to estimates, the sale of US IT assets will increase rapidly due to the introduction of new technology and digitalization, which will cause obsolete equipment to be replaced. Additionally, during the past few years, demand for ITAD has surged in the US to manage and guarantee the safe disposal of the created e-waste.
• During the anticipated period, the US will use ITAD the most frequently. The US IT asset disposition market is expanding due to adopting new technology, product innovation, strict regulations, and environmental consciousness.

Competitive Landscape

The key players in the IT Asset Disposition Market include Hewlett Packard Enterprise, IBM, Dell Technologies, Sims Limited, Iron Mountain, 3stepIT, CompuCom, TES, LifeSpan International, and Apto Solutions, among others.

These major companies, who hold a significant market share in IT asset disposition, focus on expanding their clientele into other nations. To increase their market share and earnings, these companies are collaborating strategically.

On the other hand, thanks to technological advancements and product breakthroughs, mid-size and smaller enterprises are increasing their market presence by securing new contracts and breaking into new sectors.

• 2022: To provide new levels of automation, security, and multi-cloud flexibility, Dell Inc. launched storage software improvements.
• 2022: Hewlett Packard Enterprise Development streamlines administration for open and traditional networks to automate RAN deployments.

List of the prominent players in the global IT Asset Disposition market:

• Apto Solutions Inc.
• Dell Inc
• Hewlett Packard Enterprise Development
• CompuCom Systems Inc.
• IBM Corporation
• Iron Mountain Incorporated
• LifeSpan Intern International Inc.
• Sims Lifecycle Services Inc.
• Ingram Micro Services

The global IT Asset Disposition market is segmented as follows:

By Service

• De-Manufacturing & Recycling
• Remarketing & Value Recovery
• Data Destruction/Data Sanitation
• Logistics Management & Reverse Logistics

By Asset Type

• Computers/Laptops
• Servers
• Mobile Devices
• Storage Devices
• Peripherals

By Organization Size

• Small & Medium-Sized Enterprises
• Large Enterprises

By End-User

• Banking
• Financial Services & Insurance (BFSI)
• IT & Telecom
• Education
• Healthcare
• Aerospace & Defense
• Public Sector & Government Offices
• Manufacturing
• Media & Entertainment
• Others (Energy & Utility, Construction & Real Estate, Logistics & Transportation)

Based on Geography

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America