A $24 Billion Global Opportunity for IT Asset Disposition (ITAD) by 2026 - New Research from StrategyR

SAN FRANCISCO , June 17, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "IT Asset Disposition (ITAD) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 8; Released: June 2022
Executive Pool: 2572
Companies: 294 - Players covered include Apto Solutions, Inc.; Dell Technologies Inc.; EOL IT Services Ltd.; Exit Technologies, Inc.; Gigacycle Ltd.; GreenTek Reman Pvt. Ltd.; Hewlett-Packard Enterprise; IBM Corporation; ICEX Ltd.; Ingram Micro Inc.; Iron Mountain Inc.; ITRenew, Inc.; LifeSpan International Inc.; Maxicom Inc.; MultiTek, LLC; Sims Lifecycle Services, Inc.; TBS Industries Inc.; Tes-Amm India Pvt. Ltd.; Tes-Amm Singapore Pte Ltd.; Wisetek Solutions, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Service (Remarketing & Value Recovery, De-Manufacturing & Recycling, Data Destruction/Data Sanitization, Logistics Management & Reverse Logistics, Other Services); Asset Type (Computers/Laptops, Mobile Devices, Servers, Peripherals, Storage Devices, Other Asset Types); End-Use (IT & Telecom, Media & Entertainment, BFSI, Healthcare, Government, Educational Institutions, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.

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ABSTRACT-

Amid the COVID-19 crisis, the global market for IT Asset Disposition (ITAD) estimated at US$16.7 Billion in the year 2022, is projected to reach a revised size of US$24 Billion by 2026, growing at a CAGR of 8.5% over the analysis period. Remarketing & Value Recovery, one of the segments analyzed in the report, is projected to grow at a 9.2% CAGR, while growth in the De-Manufacturing & Recycling segment is readjusted to a revised 7.6%.  Although, the IT Asset Disposition (ITAD) services market experienced decelerated growth in the year 2020 due to the COVID-19 pandemic, the future prospects for the market remain highly promising amid growing relevance of ITAD in the modern digital corporate ecosystem. ITAD is basically focused on disposal of unwanted, worn-out, and obsolete information technology (IT) equipment in a safe and ecologically-responsible manner. Modern enterprises usually have a heavy replacement cycle of IT equipment and are regularly faced with decisions pertaining to whether resell, refurbish, dispose or recycle their worn out old business equipment.

A host of factors are expected to boost the prospects for ITAD services market in the coming years. ITAD services market typically stands to gain from massive installed base of IT systems such as computers and servers; growing adoption of advanced technologies and concepts such as cloud computing and BYOD; fast evolving role of IoT; and shift towards Industry 4.0 & 'Smart Factory' environments. At the same time, factors such as environmental concerns and regulatory issues pertaining to IT assets disposal, and data security regulations such as GDPR will have a strong bearing on future growth of the ITAD services market. In post COVID-19 period, enterprises will be more willing to leverage ITAD services such as recovery, recycling, data destruction or data sanitization, to manage the waste disposal, restrict the risk of data loss, and the subsequent financial losses, thus giving impetus to ITAD services market. Rising demand for refurbished/used IT equipment and rapidly evolving data security concerns with discarded IT equipment, also favor long-term growth in the market.

ITAD services market seamlessly caters to various needs of enterprises pertaining to processing of retired computers/laptops, mobile devices, servers, peripherals, storage devices, and other IT assets. Of various types, Servers represent the largest category, while mobile devices represent the fastest growing category. Computers represent one of the leading segments of the global ITAD recycling market owing to their extensive use across nearly all industries, government agencies, and educational institutions. By service segment, Data Destruction/Data Sanitization and Remarketing & Value Recovery represent the most established and largest ITAD service categories. These two services also constitute the fastest growing service segments. De-Manufacturing & Recycling and Logistics Management & Reverse Logistics represent the other major service verticals. ITAD services remain relevant to enterprises operating in various sectors including IT & Telecom, Media & Entertainment, BFSI, Healthcare, Government, and Educational Institutions. BFSI represents the highly established market for ITAD services, constituting over 1/4th share of the market. On the other hand, Media & Entertainment constitutes the fastest growing end-use sector.

Geographically, North America and Europe are estimated to register great demand for ITAD recycling. The regional markets are anticipated to gain from implementation of stringent regulations and legal directives for recovering and reusing materials and components from e-waste. On the other hand, Asia-Pacific (including China) is projected to experience the highest growth rate on account of large volumes of e-waste and availability of cheap labor. The regional market is expected to also benefit from increasing collection and recycling of e-waste coupled with integration of the recycling markets. While ITAD Services market is likely to maintain a positive momentum in the long-term, there are certain challenges that are likely to impede the market growth at the global level. Lack of recycling infrastructure, proper regulatory policies, low level of awareness across several developing and underdeveloped regions, and inadequate number of e-waste collection centers in these regions remains major growth impediments for the global market, potentially inhibit the market expansion. Furthermore, low recycling rate, lack of proper incentive policies, and high cost of e-waste management are limiting the growth rate in developing and underdeveloped regions. Moreover, factors like uncontrolled dismantling, disposal and burning of electronic waste are likely to adversely affect the market. Some of the other prominent challenges include compliance with local, state and federal legislations, data security, management of logistics and auditing & management of downstream processors and e-waste recyclers. More 

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.