IT Asset Disposition Market Definition
IT Asset Disposition (ITAD) deals in disposing of outdated or unwanted electronic assets in a safe and ecologically-responsible manner. IT Asset Disposition vendors are specialized in the process of streamlining disposition of IT assets while minimizing costs and maximizing the recouping of losses. The services offered by these ITAD include refurbishment, redeployment, resale, and recycling of retired IT assets. The increasing use of new updated IT assets has risen the need for their proper disposal so as to prevent the environment e-waste. This emergence of asset disposition has driven market growth.
The market study is broken down by Type (Computer/Laptops, Servers, Mobile Devices, Storage Devices and Peripherals), by Application (Healthcare Industry, Aerospace and Defense, BFSI, IT and Telecom, Public Sector and Government Offices, Manufacturing, Educational Institutions, Media and Entertainment and Others) and major geographies with country level splits. According to AMA, the Global IT Asset Disposition market is expected to see growth rate of 10.43% and may see market size of USD24.01 Billion by 2024.
In IT Asset Disposition Market, it has been observed that most of the companies are upgrading or introducing innovative services for the disposal of the assets. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global IT Asset Disposition market throughout the predicted period.
Hewlett Packard Enterprise Company (United States), IBM Corporation (United States), Arrow Electronics, Inc. (United States), Dell Inc. (United States), SIMS Recycling Solutions (United States), Iron Mountain Incorporated (United States), Apto Solution, Inc. (United States), TBS Industries (United States), ITrenew Inc. (United States), TES-AMM Singapore Pte Ltd. (Singapore) and Lifespan International Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Asset Management Ireland Ltd. (Ireland) and Cloudblue Technologies, Inc. (United States).
AdvanceMarketAnalytics has segmented the market of Global IT Asset Disposition market by Type, Application and Region. On the basis of Type, Computer/Laptops are dominating the market and held 48.14% of market share in the year 2018 where as Mobile Devices stood as second largest market share and accounted for 19.06%.
On the basis of geography, the market of IT Asset Disposition has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Services, the sub-segment i.e. De-Manufacturing and Recycling will boost the IT Asset Disposition market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size , the sub-segment i.e. Small and Medium Enterprises will boost the IT Asset Disposition market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In February 2015, Arrow Electronics acquired Regulatory DataCorp (RDC), a leading technology returns and asset management provider in Europe. This acquisition was aimed to expand the Arrow Electronics business in the EMEA region.
In February 2018, Arrow Electronics collaborated with Colorado State University (CSU) to deliver professional expertise and real-world learning opportunities to students registered in the course of “Sustainable Strategies for E-Waste Management”.
- Increasing Demand in Asia-Pacific Region
- Strict Data Security Compliance with Environmental Regulations
- Emergence of Information and Data Security for Old Assets
- Growing Adoption of New Technology and BYOD
- Value Recovery from Obsolete Assets
- Strategic Partnerships and Acquisitions
- Rising Adoption of Electronics Devices
- Unauthorized Standards and Unsustainable Practices
Analyst ViewDoes the IT Asset Disposition (ITAD) help the industries to lower their IT costs? Yes. ITAD providers the proper disposing company’s obsolete technology in a compliant way as well as help in cost-saving measures. It provides the IT asset audit & removal services, data sanitization services, destructive recycling, and maximize the financial potential of any redundant IT asset by further reselling them.
Key Target AudienceIT Asset Disposition Service Providers, Developers of Data Sanitization Software, Asset Destruction Machine Manufacturers, Logistics and Packaging Service Providers and Government Bodies and Associations
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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