IT Asset Disposition (ITAD) Market Size, Share, Growth, and Industry Analysis by Type (De-Manufacturing and Recycling, Remarketing and Value Recovery, Data Destruction / Data Sanitization ‎), by Application (BFSI, Government & Public, IT & Telecom, Aerospace & Defense, Healthcare, Media and Media and Entertainment, Other), and Regional Forecast to 2032

Updated On: 10 September 2024

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IT ASSET DISPOSITION (ITAD) MARKET REPORT OVERVIEW

The global IT Asset Disposition (ITAD) Market size was USD 9.92 billion in 2023 and the market is projected to touch USD 33.05 billion by 2032, exhibiting a CAGR of 12.79% during the forecast period.

IT Asset Disposition (ITAD) is a process that lets you to get rid of surplus computer hardware. IT asset disposition (ITAD) is the procedure of disposing of end-of-life or excess IT assets in a safe, environmentally-friendly, and economical manner. IT assets can comprise hardware components such as workstations, servers, printers, and mobile devices as well as software licenses. Ecological worries and the push towards a circular economy are motivating the ITAD market. Firms are progressively aware of their eco-friendly footprint and are choosing for ITAD services that offer recycling and reuse options for IT equipment, thus decreasing electronic waste.

Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Companies need to stay updated with varying market trends and develop products that meet rising consumer needs. Companies coming up with advanced technological solutions for firming their positions.

COVID-19 Impact:  Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID- 19 pandemic has tremendously affected the complete world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

LATEST TRENDS

"Use Of Innovative Products To Boost The Market Growth"

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

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IT ASSET DISPOSITION (ITAD) MARKET SEGMENTATION

By Type Analysis

According to type, the market can be segmented into de-manufacturing and recycling, remarketing and value recovery, data destruction / data sanitization

De-manufacturing and recycling will capture the maximum market share through forecast period.  

De-manufacturing and recycling: De-manufacturing encompasses the disassembly of IT assets to separate several constituents and resources which can then be reprocessed or securely disposed of. Recycling refers to the procedure of transforming waste materials from de-manufactured IT assets into reusable materials.

Remarketing and value recovery: Remarketing encompasses refurbishing and reselling used IT assets. Value recovery refers to the procedure of extracting residual value from outdated IT equipment by selling renewed products or parts in secondary markets.

Data destruction / data sanitization: Data destruction or data sanitization refers to the procedure of firmly removing or terminating data stored on IT assets to prevent illegal access or data breaches.

By Application Analysis

According to application, the market can be segmented into BFSI, government & public, IT & telecom, aerospace & defense, healthcare, media and media and entertainment, other

IT asset disposition (ITAD) market players cover segment as BFSI will dominate the market share during forecast period.

BFSI: The BFSI segment handles huge volumes of delicate client and fiscal data, creating data security a top priority.

Government & Public: Government agencies handle categorised and private information, making safe IT asset disposal a matter of national security.

IT & Telecom: The IT and telecom sectors experience fast-paced technological progressions, leading to frequent upgrades and disposals of IT assets.

Aerospace & Defence: The aerospace and defence industry handles extremely sensitive and categorised information, requiring protected and compliant IT asset disposition processes.

Healthcare: Healthcare organisations progressively digitize patient records and medical data, the demand for ITAD services.

Media and Media and Entertainment: The media and entertainment industry produces and stores large volumes of digital content that need secure disposal to guard intellectual property.

DRIVING FACTORS

"Growing Focus on Environmental Sustainability To Boost The Market Growth"

Ecological worries and the push towards a circular budget are motivating the ITAD market. Companies are progressively conscious of their ecological footprint and are choosing for ITAD services that offer reprocessing and reuse options for IT equipment thus decreasing electronic waste.

Technological Advancement and Innovation To Upsurge The Market

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the IT asset disposition (ITAD) market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. The prompt step of technological progressions outcomes in a shorter lifecycle for IT assets, leading to a rising volume of electronic waste. This upsurge in e-waste has prompted organizations to pursue ITAD services to achieve their outdated equipment responsibly.

RESTRAINING FACTOR

"Lack Of Awareness To Hamper The Market Growth"

Many establishments, chiefly in emerging regions lack awareness of the significance of secure IT asset disposition. Moreover, there is frequently a lack of in-house expertise to manage the complex procedures involved in ITAD which can daunt companies from engaging in appropriate asset disposal practices.

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IT ASSET DISPOSITION (ITAD) MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.

"North America to Dominate the Region Due To High Level Of Technological Innovation "

North America is further expected to witness growth in the IT asset disposition (ITAD) market share. The region is dominating the market due to high level of technological improvement and adoption. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

KEY INDUSTRY PLAYERS

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.

List Of Market Players Profiled

• Cloudblue Technologies (U.S.)
• Dell (U.S.)
• Arrow Electronics (U.S.)
• Apto Solution (U.S.)
• Itrenew (U.S.)

INDUSTRIAL DEVELOPMENT

June 2022:  Apto Solutions announced the release of its new Environmental Impact Reporting Tool, which provides businesses with real-time data specifically created to support ESG reporting. This announcement is part of Apto Solutions' ongoing efforts to promote innovation in the IT asset disposition (ITAD) sector.

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.