IT Asset Disposition (ITAD) Market Trends
IT asset disposition (ITAD) is a process of disposing of unwanted computer equipment in an ecologically safe manner. ITAD vendors help organizations to manage remarking, recycling, and remarketing of computer equipment to evade environmental concerns, unnecessary costs, and legal risks. Outsourcing ITAD activities can reduce and prevent administrative hassles, lower labor and storage costs. The successful ITAD asset disposition includes certified data destruction, certified chain-of-custody, and certified electronics recycling. There are various ITAD asset disposition vendors offering computer equipment destruction services in an environment-friendly manner. For instance, Iron Mountain Incorporated offers IT asset disposition service and secure e-waste, with secure chain-of-custody methods and proper logistics to ensure security, sustainability, and compliance for all the computer equipment.
Growing BYOD trend and increasing adoption of electronic devices such as computer/laptops, office equipment, and handheld devices are some of the factors responsible for the growth of the market. As the electronics industry is one of the most dynamic industries globally, vendors are focused on product development and product launches for delivering energy-efficient products so as to remain competitive in the market. This led to the increasing ownership of electronic devices such as office equipment and computers/laptops. However, it becomes difficult for businesses to dispose of existing equipment. The ITAD asset disposition supports hassle-free disposing of equipment. In this regard, the rising penetration of electronic devices is the factor propelling the growth of the market.
However, high service cost and lack of awareness are some of the factors expected to affect the growth of the market during the forecast period. IT assets in an organization require proper process and procedure for disposal after completing their lifecycle. Also, many organizations are unaware of ITAD service and do not assign any budget for the disposal of assets due to lack of funds. This led to disposal of IT assets in an improper manner, thus affecting the environment.
IT asset disposition (ITAD) involves disposing of obsolete or unwanted equipment conforming to safety, ecological ethics, and regulatory rules.
Market Dynamics:
Growing adoption of information technology and devices and technological advances is the most significant driver of the market
The creation of antecedents such as adoption of information technology and devices, technological advancement resulting in technological obsolescence, falling cost and growing capabilities and capacities of new devices resulting in shortening lifecycle of devices, development of advanced resource intensive software’s, and others are the prime drivers of the market.
Enactment of regulations and growing concerns about data security is expected to result in faster growth of the market
The enactment of electronic recycling regulations around the globe owing to environmental concerns due to electronic scrap has triggered computer recycling for cash services. The development of the market for old computers has led to IT remarketing market. Advances in technology such as green electronic have led to recycle computer parts and computer recycling market.
Concerns over data security have led to the need for secure IT disposals, and secure data destruction is another prime driver of the market. The market has responded by IT asset disposal services and e-waste disposal companies offering hard drive shredder and hard drive destruction services. Development of it asset disposal best practices guidelines and technology for extracting valuable materials has further stimulated the market. Thus, businesses can recoup a part of losses in environmental fees and offset costs of purchasing new equipment. The development of free e-waste recycling, remarketing, and value recovery service has resulted in business models generating cash through gold recycled from motherboards and old equipment sold in auction websites.
Lack of awareness and high installation cost coupled with low recovery value from old computers hinders the adoption of the market
High investment in installation cost and lack of knowledge of the benefits of IT asset disposition services are the retardants impeding the growth of the ITAD market.
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IT Asset Disposition (ITAD) MarketIT asset disposition (ITAD) involves disposing of obsolete or unwanted equipment conforming to safety, ecological ethics, and regulatory rules.Market Dynamics:Growing adoption of information technology and devices and technological advances is the most significant driver of the marketThe creation of antecedents such as adoption of information technology and devices, technological advancement resulting in technological obsolescence, falling cost and growing capabilities and capacities of new devices resulting in shortening lifecycle of devices, development of advanced resource intensive software’s, and others are the prime drivers of the market.Enactment of regulations and growing concerns about data security is expected to result in faster growth of the marketThe enactment of electronic recycling regulations around the globe owing to environmental concerns due to electronic scrap has triggered computer recycling for cash services.
The development of the market for old computers has led to IT remarketing market.
Advances in technology such as green electronic have led to recycle computer parts and computer recycling market.Concerns over data security have led to the need for secure IT disposals, and secure data destruction is another prime driver of the market.
The market has responded by IT asset disposal services and e-waste disposal companies offering hard drive shredder and hard drive destruction services.
Development of it asset disposal best practices guidelines and technology for extracting valuable materials has further stimulated the market.
Thus, businesses can recoup a part of losses in environmental fees and offset costs of purchasing new equipment.
IT Asset Disposition (ITAD) Market ReportIT asset disposition (ITAD) involves disposing of obsolete or unwanted equipment conforming to safety, ecological ethics, and regulatory rules.Market Dynamics:Growing adoption of information technology and devices and technological advances is the most significant driver of the marketThe creation of antecedents such as adoption of information technology and devices, technological advancement resulting in technological obsolescence, falling cost and growing capabilities and capacities of new devices resulting in shortening lifecycle of devices, development of advanced resource intensive software’s, and others are the prime drivers of the market.Enactment of regulations and growing concerns about data security is expected to result in faster growth of the marketThe enactment of electronic recycling regulations around the globe owing to environmental concerns due to electronic scrap has triggered computer recycling for cash services.
The development of the market for old computers has led to IT remarketing market.
Advances in technology such as green electronic have led to recycle computer parts and computer recycling market.Concerns over data security have led to the need for secure IT disposals, and secure data destruction is another prime driver of the market.
The market has responded by IT asset disposal services and e-waste disposal companies offering hard drive shredder and hard drive destruction services.
Development of it asset disposal best practices guidelines and technology for extracting valuable materials has further stimulated the market.
Thus, businesses can recoup a part of losses in environmental fees and offset costs of purchasing new equipment.
Market AnalysisThe global IT asset disposition (ITAD) market is predicted to touch USD 27 billion at a 12% CAGR between 2019- 2025 states the recent Market Research Future (MRFR) analysis.
It has wide applications in media and entertainment, manufacturing, aerospace and defense, education, IT and telecom, BFSI, and others.
As per the current MRFR report, such factors include stringent data security compliance with environmental regulations, growing need for maximizing asset value recovery and storing assets in inventory, increasing use of electronic gadgets for enterprise usage such as tablets, laptops, and mobiles, demand for consumer electronics, need for efficient disposition of IT assets, and unprecedented use during the COVID-19 outbreak.On the contrary, high capital investment, lack of awareness, requisite certification to get recognition, and concerns about data security are factors that may limit the global IT asset disposition market growth over the forecast period.Market SegmentationThe MRFR report provides an inclusive segmental analysis of the global IT asset disposition market based on industry vertical, organization size, service, and asset type.By asset type, the global IT asset disposition market is segmented into peripherals, storage devices, servers, mobile devices, and computers.
Of these, the mobile devices segment will lead the market over the forecast period and at a high CAGR.
The rising number of tablets and smartphones for work for increasing popularity of BYOD is adding to the growth of the segment.By service, the global IT asset disposition market is segmented into remarking, logistics management, remarketing and value recovery, de-manufacturing, reverse logistics, recycling, and data destruction.By organization size, the global IT asset disposition market is segmented into large enterprises and SMEs.
Of these, the SMEs segment will dominate the market over the forecast period.
The Global IT Asset Disposition (ITAD) Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.
The report classifies the market into different segments.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Final Report will cover the impact of COVID-19 on this industry.Browse the complete Global IT Asset Disposition (ITAD) Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 @ https://www.decisiondatabases.com/ip/54502-it-asset-disposition-itad-market-report The report also covers the complete competitive landscape of the global IT Asset Disposition (ITAD) market with company profiles of key players such as:Arrow Electronics, Inc.Sims Recycling SolutionsTBS IndustriesCloudBlue Technology, Inc.TES-AMMPte LtdDellLifeSpan International, Inc.Apto Solutions, Inc.Iron Mountain IncorporatedHewlett Packard Enterprise CompanyITRenew, Inc.IBMThe detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT:By ServiceDe-Manufacturing and RecyclingRemarketing and Value RecoveryData Destruction/Data SanitizationLogistics Management and Reverse LogisticsOther Services (On-Site Equipment Audit SolutionOnline Clients’ Portal)By Asset TypeComputer/LaptopsServersMobile DevicesStorage DevicesPeripherals(Networking Devices, I/O Devices)By Organization SizeSOHO and Medium EnterprisesLarge EnterprisesBy End UserBanking, Financial Service, and Insurance (BFSI)IT and TelecomEducational InstitutionsHealthcare IndustryAerospace and DefensePublic Sector and Government officesManufacturingMedia and EntertainmentOthers(Energy and UtilityConstruction and Real EstateLogistics and Transportation)By GeographyNorth America (NA) – US, Canada, and MexicoEurope (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of EuropeAsia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APACLatin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin AmericaMiddle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South AfricaDownload Free Sample Report of Global IT Asset Disposition (ITAD) Market @ https://www.decisiondatabases.com/contact/download-sample-54502The Global IT Asset Disposition (ITAD) Market has been exhibited in detail in the following chapters –Chapter 1 IT Asset Disposition (ITAD) Market PrefaceChapter 2 Executive SummaryChapter 3 IT Asset Disposition (ITAD) Industry AnalysisChapter 4 IT Asset Disposition (ITAD) Market Value Chain AnalysisChapter 5 IT Asset Disposition (ITAD) Market Analysis By ServiceChapter 6 IT Asset Disposition (ITAD) Market Analysis By Asset TypeChapter 7 IT Asset Disposition (ITAD) Market Analysis By Organization SizeChapter 8 IT Asset Disposition (ITAD) Market Analysis By End UserChapter 9 IT Asset Disposition (ITAD) Market Analysis By GeographyChapter 10 Competitive Landscape Of IT Asset Disposition (ITAD) CompaniesChapter 11 Company Profiles Of IT Asset Disposition (ITAD) IndustryPurchase the complete Global IT Asset Disposition (ITAD) Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-54502Other Reports by DecisionDatabases.com:Global Enterprise Asset Management (EAM) Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Digital Asset Management Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 Global Returnable Transport Assets Management System Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
