IT Asset Disposition Market Size, Share, Growth Analysis, By Asset Type (Smartphones & Tablets, Servers), By End Use (IT & Telecom, Media & Entertainment), By Region -Industry Forecast 2024-2031
Report ID:
SQMIG45F2155 |
Region:
Global |
Published Date: November, 2024
Pages:
183
|Tables:
0
|Figures:
0
IT Asset Disposition Market Insights
The global IT Asset Disposition Market size was valued at USD 23.21 Billion in 2022 and is poised to grow from USD 26.27 Billion in 2023 to USD 62.57 Billion by 2031, at a CAGR of 13.2% during the forecast period (2024-2031).
IT asset disposition is projected to gain popularity on a global level as demand for secure disposal of IT assets to maintain data security and privacy increases. The imposition of new regulations and norms for the proper disposal of IT assets to maintain data privacy is also expected to promote the demand for IT asset disposition solutions and services in the future. Increasing incidence of data breaches has made organizations more aware of data security thereby bolstering the demand for certified IT asset disposition services and solutions. Growing adoption of cloud computing around the world and the rising popularity of the bring your own device (BYOD) trend are also estimated to uplift the sales of IT asset disposition solutions in the long run. On the contrary, hesitation in outsourcing IT asset disposition for data security concerns, lack of awareness regarding IT asset disposition, and high costs of services are some key constraints that are slated to slow down IT asset disposition market outlook in the long run.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
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IT Asset Disposition Market Segmental Analysis
The global IT asset disposition market is segmented based on asset type, end use, and region. Based on asset type, the market is segmented into computers/laptops, smartphones and tablets, peripherals, storages, servers, others. Based on the end use, the market is segmented into BFSI, IT & telecom, government, energy and utilities, healthcare, media and entertainment, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
Analysis by Asset Type
Smartphones and tablets disposition demand is projected to account for a dominant share of the global IT asset disposition market forecast. Rapid advancements in mobile technologies and the growing number of organizations focusing on upgrading their mobile devices more frequently are slated to help this segment bolster market growth in the long run. Increasing emphasis on reducing mobile device wastage around the world and growing demand for proper disposal of mobile devices in organizations are also expected to help this segment bring in more revenue than others across the study period. Investing in this segment will always be beneficial for market players.
On the other hand, the demand for server disposition is projected to increase at a rapid pace in the long run. Growing adoption of cloud computing and rising number of organizations migrating from on-premises to cloud solutions are promoting the demand for IT asset disposition services for servers. Increasing awareness regarding the benefits of cloud computing technologies among organizations will also be a key factor helping generate new opportunities for IT asset disposition providers via this segment in the long run. Growing number of decommissioned servers from public and private organizations as cloud adoption increases will further reiterate the significance of IT asset disposition services and boost market development.
Analysis by End Use
IT and telecom industry is forecasted to spearhead the global IT asset disposition market outlook in the future. Increasing migration of IT and telecommunication companies towards cloud technologies and rising number of remote workers in these organizations are also expected to aid the dominance of this segment across the study period. Growing adoption of the bring your own device (BYOD) trend is also forecasted to generate new opportunities for IT asset disposition companies focusing on IT and telecom organizations over the coming years. Moreover, rising use of advanced IT assets in these industries to keep up with technological advancements will also help in maintaining a dominant stance.
Meanwhile, the demand for IT asset disposition in the media and entertainment segment is slated to rise at a notable pace across the study period and beyond. Rise of streaming platforms and increasing proliferation of digital cameras and digital technologies in the entertainment industry are creating new opportunities for IT asset disposition providers. Utilization of cloud platforms by streaming companies such as Amazon, Hulu, and Netflix are also estimated to uplift the demand for IT asset disposition solutions and services as per this IT asset disposition market analysis.
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IT Asset Disposition Market Regional Insights
Asia Pacific is estimated to bring in the most revenue for any IT asset disposition company around the world. Imposition of new regulations to promote proper disposal of IT assets and the rising awareness regarding the importance of proper IT asset disposition among organizations are helping this region emerge as the leading market in the world. India, China, Australia, and Japan are forecasted to be the most rewarding markets for IT asset disposition providers operating in the Asia Pacific region through 2031 and beyond. Rising emphasis on properly managing e-waste in this region will also create new opportunities for IT asset disposition companies in the future.
Europe is forecasted to emerge as a highly opportune market for all IT asset disposition companies in the long run. Growing emphasis on sustainability and reduction of e-waste are expected to create lucrative business scope for IT asset disposition providers going forward. Germany, the United Kingdom, and France are slated to be the top markets for IT asset disposition companies to target in the European region through 2031. Increasing adoption of circular economy initiatives by organizations of this region will also be a key IT asset disposition market trend promoting revenue generation in Europe in the long run.
- Largest
- Fastest
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IT Asset Disposition Market Dynamics
Drivers
Growing Adoption of Cloud Computing
- The rising popularity of cloud computing and advancements in the same are rendering some IT assets useless and this has resulted in an increased demand for IT asset disposition services and solutions around the world. Growing migration of organizations on cloud platforms will further bolster IT asset disposition market growth in the future.
Imposition of Stringent Regulatory Compliance Norms
- Regulatory authorities and governments are imposing new regulations to ensure proper disposal of sensitive data stored on IT assets to ensure data privacy and security is maintained. This is pushing companies to opt for secure and certified IT asset disposition services thereby driving the global IT asset disposition industry development as well.
Restraints
Limited Awareness
- Awareness regarding the importance of proper IT asset disposition is quite limited in most organizations around the world and this is true especially for small and medium enterprises. This lack of awareness leads to reluctance in adoption of IT asset disposition solutions and services and thereby hurts revenue generation in all companies.
Data Security Concerns in Outsourcing
- Many organizations are skeptical regarding sharing their crucial data to a third-part vendor providing IT asset disposition services. Lack of transparency and knowledge about the data handling protocols of a IT asset disposition company also contribute to these data security concerns and impede the overall IT asset disposition market forecast going forward.
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IT Asset Disposition Market Competitive Landscape
IT asset disposition companies should focus on opting for sustainable and more secure technologies. Integration of circular economy trends and use of blockchain technologies will also present new opportunities for all IT asset disposition providers in the long run. Targeting developed regions will be more rewarding for market players at present but focusing on developing countries will pay off big time in the long run. Collaborations are also expected to emerge as preferred strategies for market expansion in the future. Developing new facilities and expanding the capacity of existing ones will also be a key strategy in the global IT asset disposition industry.
Top Player’s Company Profiles
- Apto Solutions Inc.
- CompuCom Systems, Inc.
- Dell Inc.
- OceanTech
- Park Place Technologies
- Prolimax
- Hewlett Packard Enterprise Development LP
- IBM Corporation
- Ingram Micro Services
- TBS Industries Inc.
- Atea
- Blancco Technology Group
- BRP Infotech Pvt. Ltd.
- CHG-MERIDIAN
- CSI Leasing, Inc.
- TES (Singapore) Pte Ltd.
- Arrow Electronics Inc.
- Iron Mountain
- ITRenew
- LifeSpan International Inc.
- Sims Lifecycle Services, Inc.
Recent Developments
- In February 2024, a new IT asset disposition facility was launched by Quantum Lifecycle Partner, a leading name in the IT asset disposition and e-waste recycling business. The new 7800 sq ft establishment is in Edmonton, Canada and helped Quantum expand its presence in the Canadian market.
- In March 2024, a new facility for IT asset disposition was launched in Virginia, United States by SK Ecoplant, a company based in Seoul, South Korea focusing on lowering Earth’s temperature. The new 12,000 sq ft facility designed especially for hyperscale data centers was launched through SK Ecoplant’s subsidiary SK tes
- Back in February 2023, a new proprietary Optech Capture system was launched by ERI, a leading IT asset disposition company. The new solution was designed to manage and track the asset chain of custody throughout the entire ITAD process to ensure transparency and security.
IT Asset Disposition Key Market Trends
- On-Site Data Destruction: IT asset disposition companies can focus on providing on-site data destruction services to overcome the hesitance faced by organizations for the security and privacy of their data. This IT asset disposition market trend is projected to boost client confidence in secure asset disposition and promote adoption to generate more revenue for companies in the long run.
- Use of Blockchain Asset Tracking: IT asset disposition providers can explore the use of blockchain technologies to provide transparent, tamper-proof tracking of IT assets throughout the disposal process. This will also help improve client trust whilst improving compliant and transparency in the whole IT asset disposition process. Proof of complete process and better accountability are added benefits of blockchain technology use.
IT Asset Disposition Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing adoption of cloud computing and imposition of strict regulations for proper IT asset disposal to maintain security are slated to primarily expand the global IT asset disposition market size in the future. However, limited awareness and data security concerns in outsourcing are slated to impede IT asset disposition demand outlook in the long run. Asia Pacific region is slated to emerge as the dominant market for IT asset disposition companies owing to increasing awareness regarding IT asset disposition services among organizations. Providing on-site data destruction services and use of blockchain technologies are slated to present new business scope for all IT asset disposition companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 23.21 Billion |
| Market size value in 2031 | USD 62.57 Billion |
| Growth Rate | 13.2% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on IT Asset Disposition Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on IT Asset Disposition Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the IT Asset Disposition Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the IT Asset Disposition Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the IT Asset Disposition Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the IT Asset Disposition Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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