Industry Statistics:
IT Asset Disposition Market value reached over USD 13.9 Billion in 2022 and is projected to expand at more than 8.7% through 2023 - 2032. By the end of the forecast period, the market is expected to surpass nearly USD 32.7 Billion.
IT Asset Disposition (ITAD) is a specialized practice that manages technology assets, such as desktops, laptops, tablets, datacenter cloud equipment, enterprise equipment, and smartphones at the end of their useful lives in a manner that reduces risks related to compliance, data security, and environmental responsibility. The ITAD process begins with secure reverse logistics and focuses on streamlining the refurbishment and disposition of assets through remarketing. If remarketing is not feasible, IT spare parts can be harvested from these assets to extend the life of other components. Alternatively, if recycling is necessary, valuable materials from IT hardware can be extracted using advanced recycling techniques, eliminating the need for virgin materials.
Growth Factors:
IT asset disposition (ITAD) market has been experiencing significant growth in recent years, and this trend is expected to continue in the coming years. The growth of the ITAD market can be attributed to several factors, including the increasing amount of e-waste generated globally, the growing concern for data security, and the rising adoption of cloud computing and other advanced technologies. As more and more organizations look for sustainable ways to dispose of their IT assets, the demand for ITAD services is increasing. Additionally, the increasing regulatory compliance requirements for electronic waste management and data security are also driving the growth of the ITAD market.
Technological advancements and BYOD consolidation are both ongoing trends
As technology continues to evolve, organizations seek to enhance the efficiency and effectiveness of their work processes through adoption of new technologies. However, many technology-based products and services fall short of their potential and are eventually replaced by newer versions. In addition, the consolidation of data centers, virtualization, and the shift towards cloud computing result in the accumulation of unwanted IT equipment that must be disposed of. Furthermore, with the widespread adoption of remote work, many businesses have begun to embrace the trend of bringing one's own device (BYOD) to the workplace.
Auction websites are experiencing a growth in sales of old equipment
IT asset disposition market for used equipment is expected to remain strong, regardless of the state of the global economy, as long as interested buyers worldwide have access to the increasing supply of assets that need to be disposed of. Although there has been a slowdown in China, India, and the Middle East resulting in an increase in the supply of used assets in these regions, this has been counterbalanced by a growing demand from markets in Africa, South America, and other parts of the world. To sell used assets, auction websites have emerged, providing a platform for auctioning off assets through their auctioneering division to a diverse global customer base in the IT asset disposition (ITAD) market. These auction websites can offer on-site auctions or online webcasts, depending on the needs of their customers. Online selling marketplaces such as Facebook Marketplace, Amazon, eBay, Swappa, Gazelle, and NextWorth are also available options for those seeking to sell their used equipment.
Regional Overview:
Asia Pacific region is a significant contributor to the global IT Asset Disposition market. The region's rapid economic growth, coupled with the increasing adoption of digital technologies, has resulted in a substantial increase in the amount of electronic waste generated in the region. Several countries in the Asia Pacific region, including China, India, Japan, and South Korea, have implemented regulations to manage e-waste effectively. For instance, China has adopted the "Regulation for the Management of Recycling and Disposal of Waste Electrical and Electronic Products," which requires manufacturers to be responsible for the disposal of their goods at the end of their life cycle. In India, the "E-waste (Management) Rules, 2016" mandates the collection and disposal of e-waste by producers and authorized recyclers.
Recent Development:
- In April 2022, Vyta Group, a pioneering secure IT recycling company based in Ireland, has acquired FGD, an IT disposal company based in Essex. MML Growth Capital Partners Ireland paid $12.34 million for a minority stake in Vyta Group in this transaction.
- In February 2022, IBM, Worley, and ABB signed an agreement for energy companies to build and operate green hydrogen facilities. Worley will provide construction and engineering services, while ABB will provide electrical infrastructure and IBM will provide system integration services.
Leading companies includes in the global IT asset disposition market:
- Apto Solutions, Inc.
- Dell, Inc.
- Sims Recycling Solutions, Inc.
- RDC (R D Trading Ltd.)
- LifeSpan International Inc.
- EOL IT Services
- Iron Mountain, Inc.
- ITRenew, Inc. (Iron Mountain, Inc.)
- Hewlett Packard Enterprise Company
- Ingram Micro, Inc.
- TBS Industries
In-depth analysis of IT asset disposition market along with industry coverage and forecasting for the following segments:
Market Value Insights, By Asset Type
- Mobile Devices
- Computers/Laptops
- Storages
- Peripherals
- Servers
- Others
Market Value Insights, By Organization Size
- SMEs
- Large Enterprises
Market Value Insights, By Service
- Asset Recovery
- Data Sanitization/Destruction
- Recycling
- Reverse Logistics
- Remarketing
Market Value Insights, By Industry Vertical
- BFSI
- Energy and Utility
- Telecom and IT
- Government and Public
- Media and Entertainment
- Aerospace and Defense
- Healthcare
- Others
Market Value Insights, By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America