Scope of the Study
IT Asset Disposition (ITAD) deals in disposing of outdated or unwanted electronic assets in a safe and ecologically-responsible manner.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 from e-waste. This emergence of asset disposition has driven market growth. Furthermore, a successful IT Asset Disposition strategies help organizations to generate value from their IT assets and reduce risk.
The market study is being classified by Type (Computer/Laptops, Servers, Mobile Devices, Storage Devices and Peripherals) and major geographies with country level break-up. 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.
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 profiled in the study. Additionally, the Players which are also part of the research are Asset Management Ireland Ltd. (Ireland) and Cloudblue Technologies, Inc. (United States).
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 predicts that North America Players will contribute to the maximum growth of Global IT Asset Disposition market throughout the predicted period.
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 in the year 2018 where as Mobile Devices stood as second largest market share.
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. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Strict Data Security Compliance with Environmental Regulations
- Emergence of Information and Data Security for Old Assets
- Growing Adoption of New Technology and BYOD
- Increasing Demand in Asia-Pacific Region
- Rising Adoption of Electronics Devices
- Value Recovery from Obsolete Assets
- Strategic Partnerships and Acquisitions
- Unauthorized Standards and Unsustainable Practices
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”.
Analyst CommentThe IT Asset Disposition (ITAD) helps the industries to lower their IT costs. ITAD provides the proper disposing company’s obsolete technology in a compliant way as well as helps in cost saving measure. It provide 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
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