IT Asset Disposition Market
One of the key elements fueling expansion of the market for the disposal of IT assets is the rising demand for data and information security in outdated assets.
PORTLAND, PORTLAND, OR, UNITED STATE, May 24, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The IT Asset Disposition Market Expected to Reach USD 57.4 Billion by 2032 | Top Players Such as -CDW, TES and UNDUIT.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global IT asset disposition market size was valued at USD 19.9 billion in 2022, and is projected to reach USD 57.4 billion by 2032, growing at a CAGR of 11.5% from 2023 to 2032.
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The global IT asset disposition market is driven by factors such as growing awareness of the advantages of cloud-based computing, continued migration from on-premise to cloud-based services, and upsurge in awareness of environmental protection. However, lack of awareness about ITAD solutions and comprehensive IT asset disposition policies and unauthorized standards limit the expansion of the market. Moreover, Importance of green IT initiatives is expected to create lucrative opportunities in the industry.
The IT asset disposition market is segmented on the basis of service, asset type, enterprise size, industry vertical, and region. By service, the market is classified into de-manufacturing & recycling, remarketing & value recovery, data destruction/data sanitation, logistics management & reverse logistics, and others. By asset type, it is categorized into computers/laptops, servers, mobile devices, storage devices, and peripherals. By enterprise size, it is bifurcated into large enterprises and small & medium-sized enterprises. On the basis of industry vertical, it is divided into BFSI, IT & telecom, education, healthcare, manufacturing, media & entertainment, government, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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By asset type, the computers and laptops segment attained the highest growth in IT asset disposition market Share in 2022. This is due to the fact that companies have become more environmentally conscious, and this is reflected in their ITAD practices. ITAD companies are increasingly focused on reducing their carbon footprint and promoting sustainable practices, such as using renewable energy sources in their facilities.
On the basis of services, the data destruction/data sanitation segment registered the highest revenue in IT asset disposition market share in 2022. This is due to the increasing use of mobile devices in the workplace, there is a growing need for secure data destruction and data sanitation services for these devices.
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On the basis of region, North America dominated the market share in 2022. This is due to the adoption of new technologies, product innovation, high regulatory standards, and awareness of the conservation of the environment. Moreover, the presence of a booming IT market and the rise in number of cloud data centers within the region are expected to fuel the North American IT asset disposition market during the forecast period.
The key players profiled in the IT asset disposition market analysis are Apto Solutions Inc., CompuCom Systems, Inc., CDW, Hewlett Packard Enterprise Development LP, Ingram Micro Services, Iron Mountain Incorporated, LifeSpan International Inc., Sims Lifecycle Services, TES and UNDUIT LLC.
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Covid-19 Scenario
● The COVID-19 pandemic brought about significant changes in consumer trends for the IT asset disposition market. With more people working remotely and using personal devices for work, there had a greater risk of sensitive data being compromised. This had led to an increased demand for ITAD services that offer secured data destruction to ensure confidential information is not accessible to unauthorized individuals.
● Despite the challenges posed by the COVID-19 pandemic, the pandemic had also highlighted the importance of supply chain resilience and the need for businesses to have a reliable and secure process for managing their IT assets. This had led to an increased interest in ITAD providers who can provide secure logistics, tracking, and reporting for IT assets throughout the entire lifecycle.
● Overall, the ITAD market presents several opportunities for ITAD providers to capitalize on emerging trends, adopt new technologies, and improve their sustainability practices.
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