Global IT Asset Disposition (ITAD) Market Set to Reach $34 Billion by 2030 with a CAGR of 9.2%: Remarketing and Data Security Drive Growth

News provided by

Sep 29, 2023, 20:30 ET

DUBLIN, Sept. 29, 2023 /PRNewswire/ -- The "IT Asset Disposition (ITAD) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global IT Asset Disposition (ITAD) market is poised for remarkable growth, with an estimated value of US$16.8 billion in 2022, and a projected surge to US$34 billion by 2030. This impressive expansion is anticipated at a solid CAGR of 9.2% over the analysis period spanning 2022 to 2030.

Remarketing & Value Recovery Leads the Way

Among the segments analyzed in the report, Remarketing & Value Recovery stands out, projected to achieve a significant 9.9% CAGR, reaching a value of US$8.6 billion by the end of the analysis period. Growth in the De-Manufacturing & Recycling segment is also notable, with an estimated 8.2% CAGR over the next eight years.

Global Leaders and Geographic Highlights

The United States IT Asset Disposition (ITAD) market is estimated at a substantial US$6.3 billion in 2022, highlighting strong growth prospects. Meanwhile, China, as the world's second-largest economy, is set to reach an impressive projected market size of US$5.1 billion by 2030, driven by a compelling CAGR of 11.7% from 2022 to 2030. Other noteworthy geographic markets include Japan and Canada, each forecasted to experience robust growth at 8% and 9.1%, respectively, during the 2022-2030 period. Within Europe, Germany is expected to grow at a steady 9% CAGR.

Key Competitors

Key players in the IT Asset Disposition (ITAD) market include:

Apple, Inc.
Adamec Recycling GmbH
ADL Process, Inc.
Advanced Technology Recycling
Advantage E-Cycling
Asset LifeCycle LLC
Apto Solutions, Inc.
A2Z Group
406 Recycling
A1 Assets, Inc.
ARCA Recycling, Inc.
ADAPTURE Technology Group
Adonis
Akooba
3 Step IT Group

Optimistic Economic Outlook

The global economic outlook is showing signs of improvement, with growth recovery expected for the upcoming years. The United States has successfully navigated recession threats despite slowing GDP growth. In the Euro area, easing headline inflation is boosting real incomes and driving economic activity. China is poised for substantial GDP growth as the pandemic recedes, and India is on track to become a trillion-dollar economy by 2030, surpassing Japan and Germany.

Despite these positive trends, various challenges persist, including uncertainty around the war in Ukraine, slower-than-expected global headline inflation decline, and ongoing food and fuel inflation in developing countries. High retail inflation is affecting consumer confidence and spending. Governments are addressing these challenges by raising interest rates to combat inflation, which may impact job creation and economic activity. The regulatory environment is also tightening, with growing pressure to integrate climate change into economic decisions.

Investment Opportunities in Emerging Technologies

While corporate investments may face inflation-related concerns and weaker demand, the rise of new technologies presents opportunities. Generative AI, applied AI, machine learning industrialization, next-generation software development, Web3, cloud and edge computing, quantum technologies, electrification, renewables, and climate technologies are poised to reshape the global investment landscape. These technologies have the potential to drive significant incremental growth and value to global GDP in the coming years.

In this dynamic environment, businesses and leaders who exhibit resilience and adaptability are well-positioned to seize the opportunities that lie ahead.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed?
Progress on Vaccinations: Why Should Businesses Care?
With IMF's Upward Revision of Global GDP Forecasts, Most Companies are Bullish about an Economic Comeback Despite a Continuing Pandemic
A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2023
IT Asset Management Industry from the Pandemic Lens
COVID-19-Induced Challenges Affecting IT Asset Disposition Programs
Asset Storage & Relocation Services Gain Traction
IT Asset Disposition Players to Gain from Delayed Projects & Pent-Up Demand in 2022 and Beyond
ITAD Vendors Innovate with Disposal Box Programs
Competitive Scenario
Electronics Recycling & IT Asset Disposition Players Mend Ways to Deal with COVID-19
With Impact of COVID-19 Waning Gradually, IT Asset Disposition Companies Get Back to Business
IT Asset Disposition (ITAD) - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Global Market Prospects & Outlook
World IT Asset Disposition Market by Asset Type (2020 & 2027): Percentage Breakdown of Revenues for Computers/Laptops, Mobile Devices, Servers, Peripherals, Storage Devices, and Other Asset Types
COVID-19-Led New Normal Holds Major Implications for IT Asset Disposition Strategy
ITAD Market to Remain in Upswing Mode & Move Forward Swiftly
Key Trends & Disruptions Impacting the Market
Analysis by Service Type
Data Destruction & Data Sanitization: Largest Service Segment
World IT Asset Disposition Market by Service (2020 & 2027): Percentage Breakdown of Revenues for Remarketing & Value Recovery, De-Manufacturing & Recycling, Data Destruction/Data Sanitization, Logistics Management & Reverse Logistics, and Other Services
Remarketing & Value Recovery Services Remain Highly Relevant
Robust Demand for ITAD De-Manufacturing & Recycling Services
Logistics Management & Reverse Logistics Gain Traction
BFSI, IT & Telecom, and Media & Entertainment: Major End-Users Presenting Growth Opportunities
World IT Asset Disposition Market by End-Use (2020 & 2027): Percentage Breakdown of Revenues for IT & Telecom, Media & Entertainment, BFSI, Healthcare, Government, Educational Institutions, and Other End-Uses
While Developed Regions Remain Major Revenue Generators, Developing Regions Emerge as Fastest Growing Markets
World IT Asset Disposition Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
Global IT Asset Disposition Market - Geographic Regions Ranked by Value CAGR for 2020-2027: China, Asia-Pacific, Rest of World, Canada, USA, Europe, and Japan
Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Thriving Trends with Big Implications for IT Asset Disposition
ITAD: A Critical Strategy to Stay Relevant in Changing & Evolving Technology Arena
Ongoing Drive towards Digital Transformation Instigates Opportunities
Global Digital Transformation Spending (In US$ Trillion) for the Years 2019 through 2023
Large Installed Base of IT Assets & Sustained Investments on IT Devices Augurs Well
Quicker Obsolescence of IT Devices & Resulting E-Waste Volumes Amplify the Need for ITAD
Average Lifespan (in Years) of Select IT Products
Data Security Concerns associated with Discarded IT Equipment Build Robust Momentum
Critical Importance of IT Asset Management in Modern Enterprise Environments Points Towards Progressive Adoption of ITAD Services
Expanding IoT Ecosystem Provides Steady Demand Prospects
Global Number of IoT Connected Devices (In Billion) for the Years 2016, 2018, 2020, 2022 & 2025P
Global IoT Spending: Percentage Breakdown by Industry Vertical for the Years 2018 and 2022E
IoT Big Data Generated by Connected Devices Worldwide (In Zettabytes) for the Years 2018 & 2025P
Widespread Adoption of Cloud Computing Elevates Prospects for ITAD
Global Public Cloud Computing Market (in US$ Billion) by Segment for the Years 2019 and 2022E
Key Benefits Driving Adoption of Cloud Services of Large, Medium and Small Businesses
Rise of Cloud Data Center Spurs the Demand for ITAD Services
Global Data Center IP Traffic Breakdown (in %) by Cloud and Traditional Data Centers for the Years 2017, 2019 and 2021E
With BYOD Evolving into Mainstream Enterprise Concept, Opportunities Galore for ITAD Services Market
Key Factors Encouraging BYOD Trend among Enterprises Ranked by Importance Attached by Enterprises
Smartphone Nurtures BYOD Ecosystem
Worldwide Smartphone Sales (in Million Units) by Geographic Region/Country for the Years 2018 & 2022E
Smartphone Adoption Worldwide by Region (in %): 2018 & 2025P
Surging Smartphone Penetration: Smartphone Users as % of Global Population for the Period 2018-2022E
Tablet PCs
Growing Use of Recyclable Materials in Making IT Devices Augurs Well for ITAD Market
Involvement of Device Manufacturers & Retailers Boosts Market Prospects
Ongoing Trade Wars to Impact the ITAD Market
Resolving Prevailing Issues & Challenges: Critical for Future Success of ITAD Services Market
Transit Challenges
Material & Process Level Challenges
Smaller & Thinner IT Devices Amplify the Complexity
Low Awareness Levels Thwart Industry Efforts
Low Commodity Price Values: A Major Challenge
Pandemic Led Changing IT Landscape Throws Challenges for ITAD

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/mdiymy

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets