The global IT asset disposition (ITAD) market 2020 study by Market Research Future offers comprehensive analysis by saying that the market is anticipated to witness significant momentum of USD 27 billion during the years from 2019 to 2025. The growth rate is prone to be 12% of CAGR in the anticipated period, owing to the trend of BYOD, which is keeping shares of the most prominent players in this landscape. Along with this, in-depth commentary on the key influencing factors, market statistics in terms of revenues, segmental data, and regional data are equally offered in the study that captures all the facets of the global IT asset disposition market.
Top Impacting Factors
The development in the adoption of technology has led to the mass manufacturing of several products, thus lessening the cost of much IT equipment and leading to the surging adoption of technology in emerging regions. The reception and implementation of technology are pivotal for the determination of the success of many industries in existence. As more consumers adopt technology such as Smartphones as a tool for universal use in their everyday life, the potential for the growth of the IT asset disposition market increases.
MRFR also emphasizes on the fact that regulatory compliances and environmental safety are one of the significant motivating forces when it comes to the IT asset disposition market’s expansion. Governments are now more focused on undertaking the environmental concerns that are arising from electronic waste. All these factors have catered to the market’s expansion to a great extent that could expand more in the mentioned forecast period.
The escalation of the market is further driven by more factors such as the need to store assets in inventory for remarketing, strict data security compliance with environmental regulations, and necessitate to exploit asset value recovery. The surging usage of electronic devices such as laptops, mobiles, and tablets for enterprise usage is also forceful towards the demand for IT asset disposition, thus impacting the market to a great extent.
On the contrary, the factor of lack of comprehensive IT asset disposition policy might hamper the overall growth of the IT asset disposition market at a global level.
Segmentation of Market: IT Asset Disposition
The global IT Asset Disposition (ITAD) market, as per the study, has been segmented among service, asset type, industry vertical, and organization size.
By the segment of asset type, the market includes mobile devices, computers, storage devices, servers, and peripherals. The mobile devices segment might exhibit the highest CAGR owing to the rising number of Smartphones and tablets for work under the growing popularity of BYOD.
By the segment of service, the market has included recycling, data destruction, de-manufacturing, reverse logistics, logistics management, remarketing & value recovery, and remarking.
By the segment of the organization, the market includes small, medium, and large enterprises. Among these, small and medium enterprise segments might record the higher CAGR during the forecast period in support of the growing trend of BYOD at workplaces.
By the segment of industry vertical, the market has included IT & telecom, BFSI, aerospace & defense, education, media & entertainment, manufacturing, and others. Wherein the media & entertainment industry, might exhibit the highest CAGR during the forecast period.
The geological analysis of the global IT Asset Disposition (ITAD) market has been conducted for the key regions of Europe, North America, the Middle East & Africa, Asia-Pacific, and South America.
Among these, the region of North America is leading the global IT Asset Disposition (ITAD) market owing to the existence of early adopters of the latest technologies. Besides, giant companies such as Dell, IBM Corporation, Arrow Electronics, HP, and Cloud Blue are leading the IT Asset Disposition (ITAD) markets in this region. These are some of the factors accountable for the augmentation of the global IT Asset Disposition (ITAD) market during the assessment period.
The market in Asia-Pacific might also register the highest CAGR in the global IT Asset Disposition (ITAD) market during the assessment period owing to the existence of tech giants such Iron Mountain Incorporated, as Blancco Technology Group, and Tech Dynamic Pte Ltd. The other factors liable for the growth of the market are the early adoption of technology and the mounting shift to BYOD. Furthermore, the expanding need for data security and augmented investments in research & development by countries of Japan, China, and India are other factors driving the growth of the market.
Top Market Contenders
The top key players of IT Asset Disposition (ITAD) market are listed as Dell (US), IBM Corporation (US), Arrow Electronics (US), HP (US), Sims Recycling Solutions, Inc.(India), CloudBlue (US), Apto Solutions, Inc. (US), TBS Industries Inc. (US), Tes-Amm India Pvt. Ltd (India), ITRenew (US), EOL IT Services (UK), GreenTek Reman Pvt. Ltd (India), Maxicom Network, Inc (India), Exit Technologies (France), and Iron Mountain Incorporated (US).
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