Environmental, Regulatory, And Data Breach Concerns Will Drive The IT Asset Disposition To $31.8 Billion Mark

CIO Review APAC | Friday, May 13, 2022

The global IT Asset Disposition (ITAD) market is projected to reach USD 31.8 billion by 2032, up from USD 15.6 billion in 2022, expanding at a high CAGR of 7.4 per cent.

FREMONT, CA: The global IT Asset Disposition (ITAD) market is expected to reach USD 31.8 billion by 2032, up from USD 15.6 billion in 2022, with a CAGR of 7.4 per cent. This development is due to a growing awareness of environmental preservation, legal compliance, and the need to avoid data breaches. Large amounts of e-waste also push the market, the need for secure e-waste disposal methods, and the environmental standards that businesses follow. Furthermore, the growing usage of new technologies and the BYOD trend will significantly boost the IT asset disposition market in the following years.

With a CAGR of 7.1 per cent, the United States is expected to reach a market value of USD 11.4 billion by 2032. China's market is expected to reach USD 2.2 billion by 2032, representing a 7.2 per cent annual growth rate. In 2032, Japan and the United Kingdom are expected to have market sizes of USD 1.7 billion and USD 1.3 billion, respectively, with growth rates of 5.9 per cent and 6.4 per cent. On the other hand, South Korea is expected to reach a market size of USD 1.1 billion by 2032, representing a CAGR of 5 percent.

Hewlett Packard Enterprise (HPE), Dell Technologies, IBM, Sims Limited, Iron Mountain, CompuCom, 3stepIT, TES, Apto Solutions, and LifeSpan International are among the top companies in the global IT Asset Disposition Market. These big corporations, which control a significant portion of the ITAD, are seeking to expand their customer base into other regions. These companies use strategic partnership operations to grow their market share and revenues. As a result of technological breakthroughs and product improvements, mid-sized and smaller businesses are expanding their market presence by acquiring new contracts and entering new markets. In August 2020, CompuCom and Office Depot merged to offer a portfolio of IT hardware and service offerings to assist small and medium-sized businesses' remote offices.

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