The Global IT Asset Disposition Market size is expected to reach $23.8 billion by 2028, rising at a market growth of 8.5% CAGR during the forecast period

New York, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global IT Asset Disposition Market Size, Share & Industry Trends Analysis Report By Asset Type, By Service, By Organization Size, By End User, By Regional Outlook and Forecast, 2022 – 2028" - https://www.reportlinker.com/p06322135/?utm_source=GNW

Since outdated technology can harm ecosystems and increase the amount of plastic and other waste on the earth if it is not properly disposed of or recycled, ITAD also addresses environmental and sustainability issues. To assist ensure that all of their outdated or superfluous gear is disposed of in a manner that is safe, secure, and sustainable, businesses and organizations rely on expert IT asset disposition service providers like Transpere.

The technological waste that results from updating hardware or switching to new systems accelerates along with technology's ever-increasing rate of evolution. As a result, safe disposal of that gear is now more important than it was in the past when businesses could have been able to use the same technology for years or even decades. While minimizing expenses and environmental impact, the correct ITAD services provider can guarantee secure disposal of all devices.

IT asset disposition services for the data center are a rising business amidst this hardware expansion. All businesses currently directly handle some amount of IT gear, and eventually, all data center equipment will need to be repaired, resold, or responsibly disposed of. Therefore, it should come as no surprise that, despite the appearance of prolonged refresh cycles, the market for data center ITAD services continues to develop in terms of spend and breadth.

Top ITAD suppliers now provide a lot more than just compliant disposition. A sizable portion of the ITAD budget is already spent on services like data sanitization. Organizations are understandably eager to remove potentially sensitive data from obsolete storage devices. Businesses that ignore this reality risk severe penalties.

COVID-19 Impact Analysis

There have been questions regarding how businesses will manage the increases in electronic or IT asset waste that would emerge from the expansion of remote working-related IT asset purchases. The pandemic dramatically boosted the need for IT asset disposition services. Businesses adopted the "work from home" strategy and encouraged staff to utilize their own IT resources as a result of the COVID-19 pandemic. As remote work became commonplace, businesses started to get rid of their outdated and underused IT equipment, which raised the demand for ITAD solutions.

Market Growth Factors

Technology Development And BYOD Trend Consolidating

BYOD, or bring your own device, is a trend in which employers provide employees their mobile software and devices to use for both personal and professional reasons. Mobile device penetration has expanded significantly as a result of organizations adopting BYOD more frequently. Due to the variety of services, applications, and capabilities available, mobile devices store, transmit and receive large volumes of data. The majority of the data stored on mobile devices is sensitive, including usernames, passwords, and credit card numbers.

Increasing Environmental Preservation Awareness For Growing E-Waste Volume

When they become obsolete or reach the end of their useful lives, electronic gadgets and IT assets like mobile phones, smartwatches, computers, servers, and peripherals must be properly disposed of. These electronic items, often known as electronic garbage or e-waste, are intended for recycling or rehabilitation. The accumulation of e-waste, which has the potential to harm humans, wildlife, and the environment, is typically caused by inadequate supervision of e-waste or poor handling techniques.

Market Restraining Factors

Policies For Disposing Of It Assets Are Not Comprehensive Enough

Any modern organization needs IT equipment, such as computer systems, tablets, smartphones, and digital storage devices. Because this equipment may contain information or data that needs to be protected, disposing of it when it needs to be replaced or upgraded or simply because it is surplus or redundant is a complicated process. The equipment may also be recycled or reused; hence, it must be disposed of legally and sustainably, which calls for the application of standard IT asset disposition procedures.

Services Outlook

Based on the Services, the IT Asset Disposition Market is divided into De-Manufacturing & Recycling, Remarketing & Value Recovery, Data Destruction/Data Sanitation, Logistics Management & Reverse Logistics, and Other Services. The Remarketing & Value Recovery segment witnessed a substantial revenue share in the IT Asset Disposition Market in 2021. Reselling and Value Recovery is the idea of reusing and reselling previously used or retired assets to the market to recover some value or create some cash from it.

Asset Type Outlook

On the basis of Asset Type, the IT Asset Disposition Market is segmented into Computers/Laptops, Servers, Mobile Devices, Storage Devices, and Peripherals. The Computers/Laptops segment procured the largest revenue share in the IT Asset Disposition Market in 2021. This is because there are many recoverable items present, including plastics, ferrous metals, aluminum, copper, gold, and silver.

Organization size Outlook

By Organization size, the IT Asset Disposition Market is classified into Small and Medium-sized Enterprises, and Large Enterprises. The Large Enterprises segment garnered the highest revenue share in the IT Asset Disposition Market in 2021. It is because large organizations are typically long-standing businesses with established activities on a regional, national, or international scale. Such businesses employ over 1,000 people and operate from several sites.

End-User Outlook

On the basis of End-User, the IT Asset Disposition Market is divided into Banking, Financial Services and Insurance (BFSI), IT and Telecom, Education, Healthcare, Aerospace and Defense, Public Sector and Government Offices, Manufacturing, Media and Entertainment, and Others. The IT and Telecom segment witnessed a significant revenue share in the IT Asset Disposition Market in 2021. By reselling expenses and materials recovered during recycling, a well-designed ITAD program lets companies recover the most value from their obsolete IT and telecom equipment both directly and indirectly. Overall, ITAD is critical to the company.

Regional Outlook

Region-wise, the IT Asset Disposition Market is divided into North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region procured a promising revenue share in the IT Asset Disposition Market in 2021. The development of new technologies and the advent of digitalization have led to the modernization of current infrastructure in the Asia-Pacific region. China, Japan, and India are now at the forefront of the ITAD market due to their fast-growing information technology marketplaces.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sims Limited, Iron Mountain Incorporated, 3Step IT Group Oy, Dell Technologies, Inc., Hewlett-Packard enterprise Company, IBM Corporation, TES – Sustainable Technology Lifecycle Solutions, Apto Solutions, Inc., LifeSpan International, Inc. (Bluum Technology), and CompuCom Systems, Inc. (Variant Equity Advisors).

Strategies Deployed in IT Asset Disposition Market

Jun-2022: Apto Solutions unveiled Environmental Impact Reporting Tool, delivering businesses real-time data specifically developed to assist in ESG reporting. The tool permits clients to witness the amount of greenhouse gas emissions preserved from reuse and recycling activities with Apto, savings that can be calmly factored into a business's wider ESG endeavors.

Apr-2022: Dell Technologies expanded its prevailing Dell Asset Recovery Services. The new service enables Channel partners to build value from existing IT assets and the performance of endurable recycling and recovery benefits at scale. Additionally, it assists any label of the laptop, server, desktop, peripheral or accessory.

Mar-2022: IBM came into a partnership with Flexera, a SaaS-based IT management solution. Together, the companies aimed to help their consumers and resume velocity as the market leader for technology value optimization. Additionally, The Flexera and IBM partnership include three newsworthy aspects including Certification: Flexera One's IT Asset Management (ITAM) is now a certified option for ILMT, OEM agreement: IBM can now resell Flexera One, and Integration: IBM Turbonomic integration to offset performance with licensing concerns.

Jan-2022: Iron Mountain took over ITRenew, a global authority in data center lifecycle management solutions. With this acquisition, ITRenew becomes the medium for Iron Mountain's Global IT Asset Lifecycle Management enterprise. Additionally, The integration particularly enhances the Firm's capability to deliver end-to-end services for the hyper-scale, corporate end-user device, and corporate data center segments.

Jan-2022: Lifespan introduced ITAD for Enterprise @ Home. The new program provides devices produced by home workers are completely decommissioned via an assured cycle of data erasure and performance upgrading and testing. Additionally, Lifespan has designed a refresh & deployment schedule to sustain the companies work-from-home IT refresh necessities.

Dec-2021: Sims Lifecycle formed a partnership with Back Market, the world's foremost reliable renewed tech marketplace. Together, the companies aimed to provide high-quality professionally reconditioned electronic devices and machines to consumers in 16 countries. Additionally, the ITAD provider is now marketing products on Back Market's marketplace.

Dec-2021: The Sims Metal completed the acquisition of Atlantic Recycling Group, a full-service scrap metal recycling business. With this acquisition, the Atlantic Recycling Group delivers Sims Metal with access to a complementary industry and reinforces the already solid East Coast imprint in North America.

Sep-2021: Hewlett Packard Enterprise completed the acquisition of Zerto, a provider of disaster recovery, backup, and workload mobility software. Under this acquisition, the company aimed to instantly place the HPE GreenLake edge-to-cloud platform in the growing data protection business with a verified solution and further drives HPE's storage enterprise into a cloud-native, software-defined data services industry.

Dec-2020: 3stepIT unveiled REstepIT, an endurable IT disposal service. The REstepIT service strives to assist companies to recover financial value from new or obsolete IT assets and decrease electronic scrap. Additionally, REstepIT buys in repetitious enterprise IT and securely renovates the machines for re-use, using best-in-class data erasure processes.

Jun-2020: TES expanded its geographical footprint by establishing a new facility in Hong Kong and Thailand. The new facilities deliver TES reaffirms its adherence to delivering complete lifecycle IT solutions for clients across the world. Additionally, TES has counted a 1000 m2 facility to its current buildings in the Fanling location.

Scope of the Study

Market Segments covered in the Report:

By Asset Type

• Computers/Laptops

• Mobile Devices

• Storage Devices

• Servers

• Peripherals

By Service

• Data Destruction/Data Sanitation

• De-Manufacturing & Recycling

• Remarketing & Value Recovery

• Logistics Management & Reverse Logistics

• Others

By Organization Size

• Large Enterprises

• Small & Medium-sized Enterprises

By End User

• BFSI

• IT & Telecom

• Healthcare

• Education

• Public Sector & Government Ofiices

• Manufacturing

• Aerospace & Defense

• Media & Entertainment

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Sims Limited

• Iron Mountain Incorporated

• 3Step IT Group Oy

• Dell Technologies, Inc.

• Hewlett-Packard enterprise Company

• IBM Corporation

• TES – Sustainable Technology Lifecycle Solutions

• Apto Solutions, Inc.

• LifeSpan International, Inc. (Bluum Technology)

• CompuCom Systems, Inc. (Variant Equity Advisors)

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