Global IT Asset Disposition Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global IT Asset Disposition Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

IT asset disposition services are primarily used by IT departments for disposing of and/or recycling their assets when they have reached their retirement phase. These assets mainly consist of hardware equipment that, if not properly disposed of, can risk data loss, environmental consequences, and lead to brand issues. With IT hardware becoming more advanced and hardware equipment needing upgrades more frequently, IT asset disposal services are becoming a more popular option for data safety and clean waste solutions for both the workplace and at home.

Market Overview:

The latest research study on the global IT Asset Disposition market finds that the global IT Asset Disposition market reached a value of USD 9185.71 million in 2022. It’s expected that the market will achieve USD 13104.03 million by 2028, exhibiting a CAGR of 6.1% during the forecast period.

Influence of COVID-19 Outbreak on IT Asset Disposition (ITAD) Industry Development

The COVID-19 pandemic presents unique challenges for businesses of all sizes when dealing with IT hardware that has reached the end of its life cycle (EOL). In the past, the main concern for IT teams was the speed of advancement that required efficient management of redundant equipment. The workers are sitting in their offices and the equipment is on site. However, since the COVID-19 pandemic began, there has been a huge shift in labor -- 1.5 billion people worldwide work remotely.

Working from home is expected to be a continuing trend. Since COVID-19 made landfall in the United States, 88% of organizations have encouraged or required their employees to telecommute. Teleworking may make data security more difficult to control, and the interactive use of personal devices and company devices will provide opportunities for cybercrime. Failure to properly dispose of IT equipment can have serious consequences for data, the environment, and brand reputation. The epidemic situation has promoted the growth of cybercrimes, thus prompting enterprises to seek safer solutions. This massive change will promote the information technology asset disposition (ITAD) industry.

Strength

Benefits of IT asset disposition services

IT asset disposition services can assist with maintenance management, hardware optimization, and even return management. This lets users know they are saving as much money as possible and make the most of their equipment in the final stages of use. Users can also rest assured that they know their data has not been compromised in the disposition of their assets.

As the need for devices upgrades increases, IT Asset Disposition services are becoming more widely used for corporate and personal purposes

ITAD typically involves common terminal devices such as mobile phones, laptops and tablets. In such cases, ITAD partners can help companies properly clean up large amounts of terminal equipment for recycling, donation, or redistribution to other employees. ITAD is also ideal for large jobs, such as erasing sensitive information from a medical cart or decommission data center servers. In fact, as many organizations migrate from internal data centers to hybrid or cloud environments, data center ITAD is probably one of the most common scenarios. In this case, consider using the ITAD service to ensure that the data center hardware is thoroughly purged, all asset tags are removed, and the individual hardware is decomposed. ITAD may also involve hard drive or storage device destruction and data center decommissioning. Basically, any device related to information technology can be a candidate for ITAD. This also means that ITAD services can be tailored to the business needs of an enterprise, whether it is preparing to upgrade mobile phones for end users or wants to move an entire data center to the cloud and say goodbye to physical servers.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Dell , IBM , Hewlett Packard Enterprise (HPE) , Ingram Micro and Iron Mountain (Itrenew included) are the five key players in the global IT Asset Disposition market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global IT Asset Disposition market in the past 5 years.

Dell is an American multinational computer technology company that develops, sells, repairs, and supports computers and related products and services. Named after its founder, Michael Dell, the company is one of the largest technology corporations in the world, employing more than 165,000 people in the U.S. and around the world. It is one of the biggest PC product companies in the world. Dell sells personal computers (PCs), servers, data storage devices, network switches, software, computer peripherals, HDTVs, cameras, printers and electronics built by other manufacturers.

International Business Machines Corporation (IBM) is an American multinational technology and consulting company headquartered in Armonk, New York, with more than 350,000 employees serving clients in 170 countries. IBM focuses on cloud, mobile, cognition, security, research, Watson, analysis, consulting, business, experience design, Internet of Things, technical support, industry solutions, system services, flexible services, finance and IT infrastructure.

Segmentation Overview:

Among different product types, De-Manufacturing and Recycling segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the IT and Telecom segment occupied the biggest share from 2017 to 2022.

Key Companies in the global IT Asset Disposition market covered in Chapter 3:

Lenovo
Iron Mountain (Itrenew included)
Ingram Micro
CDW
Apto Solution
TES
IBM
Dell
Sims Lifecycle Services
Quantum Lifecycle Partners LP
Arrow Electronics
Hewlett Packard Enterprise (HPE)
Koei Shoji

In Chapter 4 and Chapter 14.2, on the basis of types, the IT Asset Disposition market from 2018 to 2029 is primarily split into:

De-Manufacturing and Recycling
Remarketing and Value Recovery
Data Destruction/Data Sanitization
Reverse Logistics
Other Service

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the IT Asset Disposition market from 2018 to 2029 covers:

Banking, Financial Service and Insurance (BFSI)
IT and Telecom
Healthcare Industry
Aerospace and Defense
Public Sector and Government
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)