Global IT Asset Disposition Market Overview
The key driver impacting the IT Asset Disposition market is the increasing regulatory compliances and environmental safety concerns towards e-waste due to rapid increases in the generation of e-waste. For instance, according to a new United Nations University report, there were 53.6 million tonnes of electronic waste in 2019, and it is expected to rise by 38 percent in the decade between 2020 and 2030; the International Telecommunication Union (ITU) member states had set recently set a target to raise the worldwide e-waste recycling rate to 30%. The regulatory appliance includes NIST and HIPAA/HITECH. Moreover, the Surging adoption of new technologies and BYOD trend contributes to IT Asset Disposition market demand later.
According to Value Market Research, the global IT Asset Disposition market size was valued at about USD 15 billion in 2020 and is expected to grow at a CAGR of around 8% during the forecast period 2021 to 2027.
The rising implementation of regulatory compliances and environment safety will likely augment the need for IT Asset Disposition in the forecast period. In addition, the increasing demand for data and information security in old assets is positively impacting the market growth. However, Low awareness and high service costs hamper the market in the long run. In addition, the lack of comprehensive IT asset disposition policies is negatively impacting the market growth. Nevertheless, the rise in demand for IT asset disposition from small and medium-sized enterprises and rising old equipment sales to employees or on auction websites might provide massive market opportunities to the market's key players.
The IT Asset Disposition market is widespread, with many local and international players. The market leaders follow diverse strategies to strengthen their market, such as extending product portfolio, acquisitions, contracts, amalgamation, product upgrades to raise their market share globally. The key players taken in the report are Dell, Inc, Apto Solutions, Exit Technologies, GreenTekReman Pvt. Ltd, Iron Mountain, Inc., ICEX Ltd, MultiTek, LLC., TBS Industries, LifeSpan International, Inc., The Centrics Group, Arrow Electronics, EOL IT Services, TBS Industries, Wisetek, Gigacycle, HP Ltd., CloudBlue, ITRenew, Inc., Maxicom Network, Inc., Sims Recycling Solutions, Inc., Maxicom Network, and Dataserv Group, etc.
In this research report, the IT Asset Disposition market is segmented by service, asset type, organization size, end-user, and region.
Analysis by Service:
By service, the report is segmented into de-manufacturing and recycling, data destruction/data sanitization, remarketing and value recovery, logistics management and reverse logistics, and other services. The remarketing and value recovery segment dominates the service segment with the highest share in 2020. It is due to the Reselling end-of-life assets enables the recovery of operating capital and reduces electronic waste. Moreover, the various secure IT asset disposition programs incorporate renovating and remarketing efforts to detain value from disposed of components and devices that are still useful. This will eventually assist businesses to achieve economic value from the lifecycle of assets contributing to the remarketing and value recovery segment's growth in the forecast period.
Analysis by Asset Type:
By asset type, the report is segmented into computers/laptops, servers, mobile devices, storage devices, and peripherals. The servers segment dominates the asset type segment with the highest share in 2020. Due to the extensive usage of social media and internet applications and the emergence of new technologies such as software-defined virtualization and networking, it leads to growth in usage of servers and data centers worldwide. Moreover, the surge in data breaches has forced data center providers to dispose of data and equipment before decommissioning them, contributing to the servers segment's growth in the forecast period.
Analysis by Organization Size:
By organization size, the report is divided into medium and small-sized enterprises and large enterprises. The small and medium-sized enterprises segment dominates the vertical segment with the highest market share in 2020. It is due to the various small and medium-sized companies are reducing their IT spending because of the overall economic uncertainties. Moreover, Small and medium-sized enterprises have very low budgets for their working operations with confined resources, which leads to more data destruction and remarketing services adoption than other IT asset disposition services to recuperate the costs from the used assets, contributes to its growth in the forecast period.
Analysis by End-user:
By end-user, the report is segmented into IT and telecom, educational institutions, banking, financial services, and insurance (BFSI), healthcare industry, aerospace and defense, public sector and government offices, manufacturing, media, and entertainment, and others. The (BFSI) industry segment dominates with a high market share in 2020. It is due to the BFSI industry holds highly secure and confidential data such as the personal information and account details of corporate and customers. Moreover, the high of data breaches associated with the banking sector contributes to the growth of the BFSI segment in the forecast period.
Analysis by Region:
In the regional outlook of the global IT Asset Disposition market, the North America region dominated with the largest market share in 2020. It is due to the high adoption of new technologies, high regulatory standards, and product innovation. Moreover, substantial growth in the IT industry and growing awareness of the conservation of the environment contribute to the tremendous efficient transportation system demand across North America.
Market Segmentation covered in the Report:
By Asset Type
- De-Manufacturing and Recycling
- Remarketing and Value Recovery
- Data Destruction/Data Sanitization
- On-site Data Destruction
- Off-site Data Destruction
- Logistics Management and Reverse Logistics
- Other Services
- On-site Equipment Audit Solution
- Online Client’s Portal
By Organization Size
- Mobile Devices
- Storage Devices
- Networking Devices
- I/O Devices
By End User
- Small and Medium-sized Enterprises
- Large Enterprises
- Banking, Financial Services, and Insurance (BFSI)
- IT and Telecom
- Educational Institutions
- Healthcare Industry
- Aerospace and Defense
- Public Sector and Government Offices
- Media and Entertainment
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.