LeapZipBlog: Market-NewsFlash's blog: IT Asset Disposition Market (ITAD) Expected To Cross USD 27 Billion By 2025: Global Forecast News

IT Asset Disposition Market (ITAD) Expected To Cross USD 27 Billion By 2025: Global Forecast News

November 18, 2019 by Market-NewsFlash  

Global IT Asset Disposition (ITAD) Market Research Report: By Asset Type (Computer, Mobile Devices, Servers, Storage Devices, and Peripherals), Service (Data Destruction, Recycling, Reverse Logistics, De-Manufacturing, Remarketing & Value Recovery, Logistics Management, and Remarking), Organization Size (SMEs and Large Enterprise), and Industry Vertical (Aerospace & Defense, Energy and Power, Pharmaceutical, Oil & Gas, Food & Beverages, Chemical, Automotive, and Others), and Region (North America, Europe, Asia Pacific, the Middle East & Africa, and South America) — Forecast till 2025

IT Asset Disposition Global Market — Overview

The global IT asset disposition market is showing immense growth; mainly due to the emergence of technological advancements in the field of electronics. Also, increasing adoption of mobile devices is one major factor driving the growth of the market. Increasing inclination towards development of energy efficient products and growing adoption of the same is another major factor driving the market growth.

According to a recent study report published by Market Research Future, The global market of IT Asset Disposition is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017–2023). Also, increasing demand for IT asset disposition from medium and small enterprises is one major factor driving the market growth. IT asset disposition market is highly competitive due to the increase in cloud based technologies and increasing adoption of smartphones and tablets. One major concern among enterprises is the growing need to reduce their power consumption from servers. Owing to rising concerns regarding environmental policies, the IT asset disposition market is witnessing major growth. The media and entertainment industry vertical is expected to grow at the highest rate owing to the increasing adoption of the same.

On the other hand, lack of awareness and high service costs are major factors hindering the growth of IT asset disposition market. For proper disposal of IT assets, awareness regarding the rules and regulations is necessary. If proper ITAD services are not used and the IT assets are disposed in an improper way, it may badly affect the environment.

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IT Asset Disposition Global Market — Regional Analysis

North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the IT asset disposition market in North America owing to the presence of a large number of established key players such as Hewlett Packard Enterprise Company, IBM Corporation, Arrow Electronics, Inc., Dell Inc., Iron Mountain Incorporated, Apto Solution, Inc., TBS Industries and ITrenew Inc. among others. Also, due to a considerable shift towards the adoption of laptops and smartphones in the region, the market is likely to show immense growth in the coming future. IT asset disposition market in Asia Pacific is expected to grow at a substantial CAGR during 2017 to 2023 due to rise in IT technology in the region. Whereas, the Middle East & Africa market for IT Asset Disposition is expected to grow at a considerable CAGR (2017–2023).

IT Asset Disposition Global Market — Competitive Analysis

The market of IT asset disposition appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.

Key Players:

Hewlett Packard Enterprise Company (U.S.), IBM Corporation (U.S.), Arrow Electronics, Inc. (U.S.), Dell Inc. (U.S.), SIMS Recycling Solutions (U.K), Iron Mountain Incorporated (U.S.), Apto Solution, Inc. (U.S.), TBS Industries (U.S.), ITrenew Inc. (U.S.), TES-AMM (Singapore) Pte Ltd., Lifespan International Inc. (U.S.), Ingram Micro ITAD (U.S.) and PlanITROI, Inc. (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global IT Asset Disposition Market.

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