Growing adoption of information technology and devices and technological advances is the most significant driver of the market
The creation of antecedents such as adoption of information technology and devices, technological advancement resulting in technological obsolescence, falling cost and growing capabilities and capacities of new devices resulting in shortening lifecycle of devices, development of advanced resource intensive software’s, and others are the prime drivers of the market.
Enactment of regulations and growing concerns about data security is expected to result in faster growth of the market
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The enactment of electronic recycling regulations around the globe owing to environmental concerns due to electronic scrap has triggered computer recycling for cash services. The development of the market for old computers has led to IT remarketing market. Advances in technology such as green electronic have led to recycle computer parts and computer recycling market.
Concerns over data security have led to the need for secure IT disposals, and secure data destruction is another prime driver of the market. The market has responded by IT asset disposal services and e-waste disposal companies offering hard drive shredder and hard drive destruction services. Development of it asset disposal best practices guidelines and technology for extracting valuable materials has further stimulated the market. Thus, businesses can recoup a part of losses in environmental fees and offset costs of purchasing new equipment. The development of free e-waste recycling, remarketing, and value recovery service has resulted in business models generating cash through gold recycled from motherboards and old equipment sold in auction websites.
Lack of awareness and high installation cost coupled with low recovery value from old computers hinders the adoption of the market
High investment in installation cost and lack of knowledge of the benefits of IT asset disposition services are the retardants impeding the growth of the ITAD market.
Some of the prominent players in global it asset disposition (ITAD) market include Arrow Electronics Inc. (U.S.), IT Renew Inc. (U.S.), Apto Solutions Inc. (U.S.), TBS Industries (U.S.), Iron Mountain Incorporated (U.S.), Hewlett Packard Enterprise Development LP (U.S.) Cloud Blue Technologies Inc. (U.S.), Sims Recycling Ltd. (U.K.), Dataserv Group (U.S.), Dell Inc. (U.S.), and others.
2015 – Leading electronics and waste recycler company ITAD Technologies collaborated with Glisson Camp & Retreat Center to resolve IT removal in corporate offices.
2015 – Storage and information management vendor Iron Mountain which acquired Crozier Fine arts, a leader in storage solution including secure storage, climate-controlled vaults, and others.
To generate an accurate understanding of the market the global it asset disposition (ITAD) market is segmented by service type, product type, application, and regions.
Based on the service type, the market is segmented by recovery & reselling and recycling services and others.
Based on the product type, the market is segmented by computers, mobile devices, servers and storages and others.
Based on the application, the market is segmented by IT, telecommunication, government, and others.
Based on regions, the market has been segmented by North America, Europe, Asia Pacific, Middle East and Africa.
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North America led by the U.S. accounts for the most significant share of the global IT asset disposition (ITAD) market, owing to the extensive adoption of devices, faster adoption of new technology and growing concerns over electronic waste. The enactment of Protocol for Conducting Environmental Compliance, Audits of Treatment, Storage and Disposal Facilities under the Resource Conservation and Recovery Act (RCRA) has further stimulated the U.S. market.
However, regulations such as National Emissions Standards for Hazardous Air Pollutants (NESHAP) and air toxics regulations such as Stratospheric Ozone Regulations has resulted in the dumping of e-waste in poor developing countries constraining the market.
Europe is led by Germany, France, and U.K. Europe is followed by the Asia Pacific led by China, India, and Japan. The Middle East and Africa region is dominated by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
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