According to a new market research report published by Credence Research “IT Asset Disposition (ITAD) Market (Product – Mobile Devices, Computers/Laptops, Peripherals, Server Equipment, Network Equipment and Others; Service Type – Asset Tracking, Destruction/Sanitation, Recovery, Recycling and Others; Industry Vertical – IT & Telecom, BFSI, Government & Defense, Media & Entertainment, Education, Healthcare, Manufacturing and Others) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025”, the global IT asset disposition market to expand with a CAGR of 6.7% from 2017 to 2025.
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The IT asset disposition market is majorly driven by the rising electronics industry worldwide. Being one of the most dynamic industries worldwide, manufacturers are always inclined towards developing more energy efficient products so as to cater to the ever-changing industry requirements. This however results into a major concern for business enterprises to dispose of the existing infrastructure. Due to continually rising penetration of electronic products such as handheld devices, office equipment, computer/laptops and others, proper recycling of such products becomes a major concern.
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One of the major concerns for enterprises (principally data centers) is to reduce their power consumption from server equipment. Thus, it becomes highly essential to periodically replace the existing infrastructure so as to ensure no device performs inefficiently. Opting for IT asset disposition service vendors simplifies the overall IT asset lifecycle process. Although IT asset disposal is time consuming and relatively costly service, it is highly crucial for business enterprises having heavy IT infrastructure.
Another major factor driving the market growth is increasing activity in the overall e-recycling and smelting industries. The overall electronics industry is not more inclined towards reusing the resources used across different devices and systems. Additionally, due to rising concerns regarding the environmental policies, IT asset disposition has been witnessing increased interest from different industry verticals. Improper disposal of electronic devices results into adverse impact on environment. Subsequently, several regulations have been enforced upon organizations for suitable recycling of electronic assets. This is another major factor propelling the market growth.
The overall IT asset disposition market is segmented on the basis of products, service type, industry verticals and geographic regions. On the basis of products, the market is segment into mobile devices, computers/laptops, peripherals, server equipment, network equipment and others. Further, based on the services, the market is segmented into asset tracking, destruction/sanitation, recovery, recycling and others. Based on industry verticals, the market is categorized into IT & Telecom, BFSI, government & defense, media & entertainment, education, healthcare, manufacturing and others. As of 2016, the market is led collectively by the IT & telecom and media & entertainment industry verticals. On the basis of geographic regions, the market is classified into North America, Europe, Asia Pacific and rest of the world (RoW).
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