IT Asset Disposition Global Market – Overview
The global IT asset disposition market is showing immense growth; mainly due to the emergence of technological advancements in the field of electronics. Also, increasing adoption of mobile devices is one major factor driving the growth of the market. Increasing inclination towards development of energy efficient products and growing adoption of the same is another major factor driving the market growth.
According to a recent study report published by Market Research Future, The global market of IT Asset Disposition is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023). Also, increasing demand for IT asset disposition from medium and small enterprises is one major factor driving the market growth. IT Asset Disposition Market is highly competitive due to the increase in cloud based technologies and increasing adoption of smartphones and tablets. One major concern among enterprises is the growing need to reduce their power consumption from servers. Owing to rising concerns regarding environmental policies, the IT asset disposition market is witnessing major growth. The media and entertainment industry vertical is expected to grow at the highest rate owing to the increasing adoption of the same.
On the other hand, lack of awareness and high service costs are major factors hindering the growth of IT asset disposition market. For proper disposal of IT assets, awareness regarding the rules and regulations is necessary. If proper ITAD services are not used and the IT assets are disposed in an improper way, it may badly affect the environment.
Hewlett Packard Enterprise Company (U.S.), IBM Corporation (U.S.), Arrow Electronics, Inc. (U.S.), Dell Inc. (U.S.), SIMS Recycling Solutions (U.K), Iron Mountain Incorporated (U.S.), Apto Solution, Inc. (U.S.), TBS Industries (U.S.), ITrenew Inc. (U.S.), TES-AMM (Singapore) Pte Ltd., Lifespan International Inc. (U.S.), Ingram Micro ITAD (U.S.) and PlanITROI, Inc. (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global IT Asset Disposition Market.
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November 2017 – Ingram Micro ITAD opens new facility South of Seattle. This facility enhances the company’s ability to serve clients in the Pacific Northwest with both traditional IT Asset Disposition services and a full suite of onsite services, including drive erasure and mobile drive destruction.
November 2017 – Iron Mountain adds secure IT asset disposition services to its GSA schedule. The addition of Iron Mountain’s SITAD services to the GSA Schedule makes it easier for agencies to procure a comprehensive suite of NARA-compliant records management and storage solutions that span the full information lifecycle, including the responsible and secure disposition of their outdated IT assets.
December 2017 – Sims Recycling Solutions reaches settlement with DTSC regarding former Roseville operation. The settlement relates to large-scale indoor electronics shredding operations that were previously conducted at the Facility. The settlement, made out of a desire to avoid costly, protracted litigation, consists of a $275K civil penalty and a payment of $125K to reimburse DTSC for its costs incurred in this matter.
IT Asset Disposition Market – Competitive Analysis
The market of IT asset disposition appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
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IT Asset Disposition Market – Segmentation
The IT asset disposition market can be classified into 4 key segments for the convenience of the report and enhanced understanding;
Segmentation by Service Type: Comprises of de-manufacturing and recycling, remarketing and value recovery, data destruction/data sanitization, logistics management and reverse logistics and others.
Segmentation by Asset Type: Comprises of computer/laptops, servers, mobile devices, storage devices and peripherals.
Segmentation by Organization Size: Comprises of SMEs and Large Enterprises.
Segmentation by End User: Comprises of BFSI, IT & telecommunication, healthcare, aerospace & defense, manufacturing, media & entertainment, educational institutions and others.
Segmentation by Region: Comprises of Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
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IT Asset Disposition Global Market – Regional Analysis
North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the IT asset disposition market in North America owing to the presence of a large number of established key players such as Hewlett Packard Enterprise Company, IBM Corporation, Arrow Electronics, Inc., Dell Inc., Iron Mountain Incorporated, Apto Solution, Inc., TBS Industries and ITrenew Inc. among others. Also, due to a considerable shift towards the adoption of laptops and smartphones in the region, the market is likely to show immense growth in the coming future. IT asset disposition market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2023 due to rise in IT technology in the region. Whereas, the Middle East & Africa market for IT Asset Disposition is expected to grow at a considerable CAGR (2017-2023).
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