IT Asset Disposition (ITAD) Market Share, Size, Trends, Industry Analysis Report, By Asset Type; By Organization Size (Large Enterprises, Small and Medium-sized Enterprises); By Service; By Vertical; By Region; Segment Forecast, 2024 - 2032
- Published Date:Feb-2024
- Pages: 116
- Format: pdf
- Report ID: PM4504
- Base Year: 2023
- Historical Data: 2019 – 2022
Report Outlook
IT Asset Disposition (ITAD) Market size was valued at USD 15,578.94 million in 2023. The market is anticipated to grow from USD 16,828.37 million in 2024 to USD 32,355.70 million by 2032, exhibiting a CAGR of 8.5% during the forecast period.
IT Asset Disposition Market Overview
IT Asset Disposition (ITAD) involves the environmentally responsible and secure practices of repurposing, recycling, repairing, reusing, or disposing of unwanted IT equipment. By extending the lifespan of existing IT assets, ITAD plays a pivotal role in reducing the environmental impact of products and lessening the demand for the production of new items.
The main factor for growth is the rising global electronic waste. As per data from the E-waste Monitor Global, a collaborative effort involving the UN and various organizations, including the International Telecommunication Union, International Solid Waste Association, and UN Environment Programme, the year 2019 saw the development of 53.6 million metric tons of electronic waste. This projection indicates an increase to 74 million metric tons by 2030. This surge in electronic waste production has led to significant expansion in the ITAD market.
The company provides services encompassing data destruction, asset recovery, and lifecycle management. The existence of ITAD market players adhering to diverse regulatory standards minimizes the risk of theft of data, fostering increased acceptance of IT asset disposition services across a spectrum of government and business entities. This heightened adoption is anticipated to propel market growth throughout the forecast period.
For instance, in October 2022, NCS Global Services LLC inaugurated a new facility in Los Angeles to meet the demand from West Coast customers. This facility holds certifications for NAID AAA and ISO standards.
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Based on IT Asset Disposition (ITAD) industry analysis, the surge in cloud computing has emerged as a key driver for the robust expansion of the IT asset disposition market. Businesses are shifting from on-premises to cloud-based services due to considerations such as environmental sustainability, data security, and cost-effectiveness. This migration has led to a heightened demand for the disposition of various IT equipment, including network gears, servers, storage devices, and cables. The shift towards cloud computing has also resulted in a proliferation of data centers globally, amplifying the need for ITAD solutions tailored for these environments.
The advancement of technologies and the consolidation of the Bring Your Device (BYOD) trend are expected to drive the IT Asset Disposition and Disposal (ITAD) market growth. Organizations employ new technologies to improve the efficiency of various work processes. However, many technology-based services and products are often replaced with newer models before reaching their full potential. Furthermore, the disposal of unwanted IT equipment becomes necessary due to data center consolidation, virtualization, and the expanding adoption of cloud services.
The prevalent adoption of BYOD in workplaces, fueled by the trend of remote work, further supports market growth. For instance, in January 2022, Apple announced significant changes to how it will manage its devices in the future. The enhancements in Workspace ONE 2111 and iOS 15, particularly in User Enrollment and Needed Apps, improve BYOD experiences. The updated procedure in iOS 15 is more user-friendly and efficient, contributing to an enhanced user experience and encouraging higher rates of BYOD usage in organizations.
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IT Asset Disposition Market Dynamics
Market Drivers
The Escalating Volume of Electronic Waste (E-Waste) and a Heightened Awareness of Environmental Conservation Bolstered the Growth of the Itad (It Asset Disposition) Market
Appropriate disposal of electronic devices and IT assets is essential when they become obsolete or reach the end of their useful lives. These items designated for recycling or refurbishment are commonly known as electronic waste or e-waste. However, inadequate e-waste management or improper handling practices often lead to the accumulation of e-waste, posing potential environmental and habitat pollution, risks to human health, and threats to wildlife. The volume of e-waste continues to rise unabated as technological advancements drive the demand for the latest electronic devices and IT assets.
As a result, the increasing quantities of e-waste have become a global concern, necessitating a well-organized and secure plan for the disposal of electronic waste and obsolete IT equipment. Numerous state and federal regulations addressing environmental protection, data security, and privacy have been formulated to ensure proper e-waste disposal. Non-compliance with these regulations can result in substantial financial penalties.
Moreover, growing environmental awareness among individuals and businesses is also fostering the adoption of proper e-waste disposal methods. Many companies worldwide, as part of their corporate social responsibility initiatives, engage in recycling, recovery, or prioritized safe and secure disposal of e-waste and outdated IT assets. All these factors bode well for the growth of the IT asset disposition market in the forecast period.
Market Restraints
The Need for More Awareness Regarding It Asset Disposition (Itad) Solutions is Likely to Hamper the Growth of the Market
Proper procedures must be followed when disposing of IT assets reaching the end of their service life. Despite the significance of IT Asset Disposition (ITAD), many businesses need a comprehensive understanding of its principles, posing challenges in the management of ITAD processes. Consequently, numerous companies and consumers, particularly in developing nations, opt for improper disposal of their IT assets to cut costs associated with proper clearance.
Moreover, some organizations entrust the disposal of their assets to third-party service providers who often need more insight into the command and accountability structure. The real-time tracking and accurate reporting of IT assets play a crucial role in preventing improper disposal. Due to a lack of awareness concerning device visibility and governance, businesses need to be made aware of the associated risks and possible mitigation measures. It is expected that organizations disregarding environmental and governmental regulations in the disposition of IT assets will serve as a hindrance to IT asset disposition market trends.
Report Segmentation
The market is primarily segmented based on asset type, organization size, service, vertical, and region.
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By Organization Size |
By Service |
By Vertical |
By Region |
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IT Asset Disposition Market Segmental Analysis
By Service Analysis
During the forecast period, the data sanitization/data destruction segment is expected to dominate the IT asset disposition (ITAD) market, driven by increasing demand for proper disposal of IT assets and a heightened awareness of potential risks associated with storing sensitive information in outdated assets. Recognizing the pivotal role of data security, the thorough erasure of data from assets before physical destruction or transition is deemed essential to minimize risks related to financial consequences, data breaches, and potential harm to brand image.
IT asset disposition service providers utilize advanced software and solutions for comprehensive device sanitization, ensuring thorough data destruction. Blancco Drive Erasure, offered by Blancco Technology Group (US), is highlighted as a robust solution for laptops, PCs, servers, and loose drives. Experienced IT asset disposition service providers employ specialized software and appliances for this process, providing certification that data sanitization adheres to widely accepted industry standards, such as the US's National Institute of Standards and Technology (NIST).
By Asset Type Analysis
The servers segment held the largest revenue share in terms of the market size in 2023. The global proliferation of Internet and social media applications, coupled with the emergence of technologies like software-defined networking and virtualization, has triggered a widespread upswing in the utilization of servers and data centers. Servers, meticulously engineered for continuous and uninterrupted operation, encompassing vital components such as high-performance RAM, Central Processing Units (CPUs), and one or more hard drives.
Additionally, the growing utilization of advanced servers is driven by various factors, including technological advancements and an increasing number of businesses transitioning to cloud-based services. Numerous companies follow a consistent schedule of updating their data centers with networking or server upgrades every three to four years. Data center providers are increasingly adopting secure disposal protocols for data and equipment prior to decommissioning due to the rising risk of data breaches.
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IT Asset Disposition Market Regional Insights
The Asia Pacific Region Dominated the Global Market with the Largest It Asset Disposition (Itad) Market Share in 2023
This growth is attributed to the imposition of stringent regulations in various Asian countries, compelling businesses to embrace ITAD solutions and thereby propelling market expansion. For instance, in November 2022, the Government of India introduced its e-waste management rule, outlining aspects such as an expanded range of electronic goods, restricted use of hazardous substances, the requirement of an extended producer responsibility certificate, and the mandate for producers of electronic goods to ensure the recycling of 60% of electronic waste.
Europe is actively pursuing environmentally friendly initiatives, aiming to reduce pollution and other ecological impacts. This commitment is reflected in the IT Asset Disposition (ITAD) market, where Europe is anticipated to secure a substantial IT Asset Disposition (ITAD) market share of revenue. The region's proactive approach to e-waste disposal has been a driving force behind its growth. Furthermore, to meet the rising demand, numerous companies from outside Europe are entering the market. For example, in July 2021, TES inaugurated a new facility in the U.K. This facility will provide ITAD, managed deployment services, ICT refurbishment, and parts harvesting.
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Competitive Landscape
The IT Asset Disposition market outlook is fragmented and is anticipated to witness competition due to several players' presence. Major service providers in the market are constantly upgrading their technologies to stay ahead of the competition and to ensure efficiency, integrity, and safety. These players focus on partnership, product upgrades, and collaboration to gain a competitive edge over their peers and capture a significant IT Asset Disposition (ITAD) market share.
Some of the major players operating in the global market include:
- 3stepIT
- Apto Solutions Inc.
- Atea
- Blancco Technology Group
- BRP Infotech Pvt. Ltd.
- CHG-MERIDIAN
- CSI Leasing, Inc.
- Dell Inc.
- Flex IT Distribution
- Hewlett Packard Enterprise Development LP
- IBM
- Ingram Micro
- Inrego AB
- Iron Mountain, Inc.
- LifeSpan International Inc.
- OceanTech
- Park Place Technologies
- Prolimax
- ReluTech
- Renewtech
- Sims Limited
- TBS Industries Inc.
- TES
- Tier1
- Total IT Global
Recent Developments
- In August 2023, Hewlett Packard Enterprise (US) and Cyxtera (US) joined forces to provide Asset Upcycling Services, enabling organizations to securely and sustainably recover value from retired hardware. Within this partnership, HPE assists in the acquisition of outdated hardware when customers implement new, more efficient infrastructure in collaboration with Cyxtera.
- In March 2023, Redington Limited (India) collaborated with Dell Inc. (US) to advance sustainability efforts in India. In this partnership, Redington will provide Dell's Asset Resale and Recycling Services (ARRS) to assist businesses in securely and sustainably managing legacy IT equipment, thereby minimizing environmental impact.
- In January 2022, Iron Mountain, Inc. (US) completed the acquisition of ITRenew (US), a worldwide leader in mission-critical data center lifecycle management solutions. ITRenew now serves as the foundation for Iron Mountain's Global IT Asset Lifecycle Management business, bolstering its capacity to deliver comprehensive services across hyperscale, corporate data center, and corporate end-user device segments.
Report Coverage
The IT Asset Disposition market report emphasizes key regions across the globe to provide a better understanding of the product to the users. Also, the report provides market insights into recent developments and trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers an in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides a detailed analysis of the market while focusing on various key aspects such as competitive analysis, asset type, organization size, service, vertical, and futuristic growth opportunities.
IT Asset Disposition Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 16,828.37 million |
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Revenue Forecast in 2032 |
USD 32,355.70 million |
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CAGR |
8.5% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2024 to 2032 |
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Segments Covered |
By Asset Type, By Organization Size, By Service, By Vertical, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
Uncover the dynamics of the IT Asset Disposition (ITAD) sector in 2024 with detailed statistics on market share, size, and revenue growth rate meticulously curated by Polaris Market Research Industry Reports. This all-encompassing analysis extends to a forward-looking market forecast until 2032, complemented by a perceptive historical overview. Immerse yourself in the profound insights offered by this industry analysis through a complimentary PDF download of the sample report.
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FAQ's
The IT Asset Disposition (ITAD) Market report covering key segments are asset type, organization size, service, vertical, and region.
The global IT Asset Disposition market size is expected to reach USD 32,355.70 Million by 2032
IT Asset Disposition (ITAD) Market exhibiting a CAGR of 8.5% during the forecast period.
Asia Pacific is leading the global market
key driving factors in IT Asset Disposition (ITAD) Market escalating volume of electronic waste (E-Waste) and a heightened awareness of environmental conservation
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