The global IT asset disposition (ITAD) Market is projected worth US$ 22,150.4 million by 2026 and the market is projected to showcase 6.9% CAGR during the forecast period. The IT asset disposition (ITAD)market is driven by advancement in IT industry and rise in usage of electronic devices globally.
The main development of the IT asset disposition (ITAD) market includes the changing IT industries, rising usage of electronic devices such as laptops, tablets, and mobiles, and increasing small and medium enterprises are the major factors driving the demand for ITAD market.However, the high cost of investment and lack of awareness of the benefits associated with the IT asset disposable among users are the restraining factors that are hindering the growth of IT asset disposition (ITAD) market.
The IT industry has gone rapid advancement due to the introduction of various technologies such as cloud computing, cognitive computing, Big Data analytics and Internet of Things (IoT) that are helping to expand businesses globally.The growing usage of ICT devices combined with the declining life cycle of IT products is expected to generate the need for businesses to dispose of the electronic waste securely. Therefore, the significant increase in e-waste generation is disturbing the environment, and to minimize these side effects of electronic waste, there is an increase in demand for IT asset disposition (ITAD) across the globe.
The global IT asset disposition (ITAD) market is segmented into asset type, service, enterprise size, end-use industry, and region. On the basis of asset type, the global IT asset disposition (ITAD) market is segmented into hardware, computer/laptops, mobile devices, peripherals, storages, servers, and others. On the basis of service, the global IT asset disposition (ITAD) market is segmented into data sanitation/destruction, recycling, remarking, asset discovery, and reverse logistics. On the basis of enterprise size, the global IT asset disposition (ITAD) market is segmented into small enterprises, medium enterprises, and large enterprises. On the basis of end-use industry, the global IT asset disposition (ITAD) market is segmented into BFSI, government & public, IT & Telecom, aerospace & defense, healthcare, energy & utilities, media and entertainment, data centers, and others. On the basis of the region, the global IT asset disposition (ITAD) market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Based on the end-use industry, the global IT asset disposition (ITAD) market can majorly be segmented into eightsub-segments, which are BFSI, government & public, IT & Telecom, aerospace & defense, healthcare, energy & utilities, media and entertainment, and data centers. The IT & Telecom sub-segment is projected to dominate the global IT asset disposition (ITAD) market as there is an increase in the number of companies that offer mobile devices to the employees for in-house communication which can be one of the driving forces that can boost the IT asset disposition (ITAD) market significantly.
The North America region is expected to hold a major share of the global IT asset disposition (ITAD) market followed by Europe and Asia Pacific region. The dominance of North America is owing to the substantial growth in the IT industry; and also the region is predicted to remain as the leading market for IT asset disposition (ITAD) in the coming years. Another reason is the presence of strict government regulations that is promising organizations to adopt the solutions for the safe disposal of IT assets. The Asia Pacific region is estimated to grow at a significant CAGR during the forecast period.
Some of the major players associated with the IT asset disposition (ITAD) market are Apto Solutions, Dell, Inc., Exit Technologies, GreenTekReman Pvt. Ltd, ICEX Ltd, Iron Mountain, Inc., LifeSpan International, Inc., MultiTek, LLC., TBS Industries, The Centrics Group, Arrow Electronics, EOL IT Services, Wisetek, Gigacycle, HP Ltd., Ingram Micro, Inc. (Formerly CloudBlue), ITRenew, Inc., Maxicom Network, Inc., Sims Recycling Solutions, Inc., and TES-AMM Pte Ltd. (Formerly Dataserv Group), etc.
Key manufacturers in the global IT asset disposition (ITAD) market are focused on investing heavily in research and development activities in order to offer innovative IT asset disposition (ITAD) solution for safe disposal of electronic waste.Moreover, the key players in the global IT asset disposition (ITAD) market are concentrating mainly on the continuous innovation, merger, and acquisition and developing strategic partnerships with other established players in order to expand their business geographically as well as to gain maximum market share.
Market By Asset Type
Market By Service
Market By Enterprise Size
Market By End-use Industry
Market By Geography
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