PUNE, India, November 16, 2016 /PRNewswire/ --
The report "IT Asset Disposition (ITAD) Market by Service (De-Manufacturing and Recycling, Remarketing and Value Recovery, Data Destruction/Data Sanitization, Reverse Logistics), Asset Type, Organization Size, End-User, & Geography - Global Forecast to 2022", published by MarketsandMarkets, was valued at USD 10.12 Billion in 2015 and is expected to reach USD 20.09 Billion by 2022, at a CAGR of 9.83% during the forecast period.
Browse 78 market data Tables and 57 Figures spread through 157 Pages and in-depth TOC on "IT Asset Disposition (ITAD) Market"
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The evolution of technologies such as cloud computing, Big Data analytics, Internet of Things (IoT), and the changing IT landscape have contributed to the increase in e-waste generation. Thus, IT asset disposition is being adopted by many companies to minimize the environmental impact as well as risk of data loss by following regulatory standards and environmental policies.
"Remarketing and value recovery service expected to hold the largest market size during the forecast period"
IT asset remarketing service is a revenue-sharing program that is designed to obtain maximum returns. The services help the service providers to determine the asset recovery strategy that is most closely aligned to the clients' business objectives. The industry is now realizing the risks associated with improper IT asset disposal, which is leading to the growing trend of the sale of old equipment on auction websites or to employees.
"Small office/home office (SOHO) and medium enterprises industry is expected to grow at a high rate"
Small-scale industries often do not use authorized IT asset disposition processes due to budget constraints, lack of awareness or technical expertise, or lack of stringent regulations. This results in the disposal of assets into landfills in an improper way, which can severely impact the environment. This trend is expected to change in the near future as ITAD starts developing and marketing its services to the small business sector and the industry also comes to better realize the risks.
"The market in APAC is expected to grow at the highest rate during the forecast period"
Several initiatives such as investments for expansions and various other developments in the APAC region are providing several growth opportunities for ITAD market players operating in the region. For instance, in April, 2015 Arrow electronics Inc. (U.S.) opened its first facility in Singapore to provide services for IT asset disposition and reverse logistics in Asia-Pacific. The facility has been designed to comply with the stringent standards of the Arrow Global Compliance Program as well as the local, national, and international standards for data security and environmental regulations, including the Responsible Recycling Practices (R2), OHSAS 18001, and International Standards Organization 9001 and 14001.
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Major players operating in the IT asset Disposition Market include Arrow Electronics, Inc. (U.S.), Sims Recycling Solutions (Australia), TBS Industries (U.S.), CloudBlue Technology, Inc. (U.S.), TES-AMM (Singapore) Pte Ltd, (Singapore), Dell (U.S.), LifeSpan International, Inc. (U.S.), Apto Solutions, Inc. (U.S.), Iron Mountain Incorporated (U.S.), Hewlett Packard Enterprise Company (U.S.), ITRenew, Inc. (U.S.), and IBM (U.S.), among others.
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