PUBLISHER: Allied Market Research | PRODUCT CODE: 1344411
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344411
According to a new report published by Allied Market Research, titled, "IT Asset Disposition Market," The it asset disposition market was valued at $19.9 billion in 2022, and is estimated to reach $57.4 billion by 2032, growing at a CAGR of 11.5% from 2023 to 2032.
The rising adoption of bring your own device is a key driver for the growth of IT asset disposition market. Bring your own device (BYOD) is the practice of employees using their personal devices, such as smartphones, tablets, and laptops, for work purposes. This trend has gained popularity in recent years, as it allows employees to work remotely and increase their productivity. As a result, businesses are increasingly turning to ITAD service providers to help them manage the secure and responsible disposal of personal devices used for work purposes. In addition, growing awareness of the advantages of cloud-based computing and the growing awareness of environmental protection are major driving factors for the market. However, the lack of comprehensive IT asset disposition policies and unauthorized standards is a major factor for hampering the growth of the market as many businesses do not have a clear understanding of the importance of proper IT asset disposition policies and do not have implemented comprehensive policies for their organization. Without clear policies and standards, there is a risk of inconsistency in the disposal process, which can lead to increased risk of data breaches or environmental damage. Contrarily, importance of green IT initiatives to provide lucrative opportunities for the market. As awareness of environmental issues continues to grow, more organizations are looking to implement green IT initiatives. These initiatives can help organizations reduce their carbon footprint, conserve natural resources, and promote sustainable practices, which will provide an opportunity to scale up IT asset disposition market in the forecast period.
The IT asset disposition market is segmented on the basis of services, asset type, enterprise size, and industry vertical. Based on service, the market is segmented into de-manufacturing and recycling, remarketing and value recovery, data destruction/data sanitation, logistics management and reverse logistics and others. Based on asset type, it is segmented into computers/laptops, servers, mobile devices, storage devices and peripherals. Based on enterprise size, it is segmented into large enterprises and small and medium-sized enterprises. On the basis of industry vertical, it is segmented into BFSI, IT and telecom, education, healthcare, manufacturing, media and entertainment and others. By region, it is analysed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the IT asset disposition market such as 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. These players have adopted various strategies to increase their market penetration and strengthen their position in the IT asset disposition market.