A new market research study that has been recently presented by Transparency Market Research states that the global IT asset disposition market is expected to witness a high level of competition among the key players throughout the forecast period. The entry of new players and the increasing focus on technological advancements are projected to support the development of the market in the near future. In addition to this, the rising investments by the key players on the research and development activities and the rise in the mergers and acquisitions are projected to enhance the overall development of the global IT asset disposition market throughout the forecast period. The key players operating in the IT asset disposition market across the globe are Hewlett Packard Enterprise Development LP, Sims Recycling Ltd., Dell, Inc., TBS Industries, Apto Solutions, Inc., Dataserv Group, Iron Mountain Incorporated, ITRenew Inc., Arrow Electronics, Inc., LifeSpan International, Inc., CloudBlue Technologies, Inc., and TES-AMM Pte Ltd.
As per the market research study by TMR, in 2015, the global market for IT asset disposition was worth US$9.89 bn. The market is estimated to reach a value of US$18.18 bn by the end of 2024 and register a healthy 7.10% CAGR between 2016 and 2024.
Rising Adoption of Cloud Computing to Support IT Asset Disposition Market
The North America market for IT asset disposition is anticipated to hold a large share and remain in the leading position in the next few years. A significant rise in the adoption of cloud services is estimated to ensure the growth of this region in the coming years. In addition to this, the use of cloud computing is considered an important part of the IT ecosystem, which is further predicted to shorten the lifespan of the IT assets, thus supplementing the market growth in the next few years. The Middle East and Africa and Asia Pacific are projected to witness a promising growth in the next few years, owing to the rising contribution from India, China, and Australia.
The global IT asset disposition market has been categorized on the basis of end use into energy and utilities, aerospace, BFSI, telecom and IT, media and entertainment, government, education, and healthcare. Among the mentioned segments, the media and entertainment segment is estimated to hold a major share of the global IT asset disposition market in the next few years. The rising demand for the high-definition visual content is likely to supplement the development of the market in the coming few years. In addition to this, the rise in the use of customized disposable services is estimated to propel the market in the forecast period.
Advent of New Technology to Support IT Asset Disposition Market
The rising demand for data and information security for the old assets and the rising need for environment safety and regulatory compliances are projected to accelerate the growth of the global IT asset disposition market in the next few years. In addition to this, the rising trend of bring your own devices and the rising adoption of new technology are estimates to support the growth of overall market in the next few years.
On the flip side, the absence of inclusive policy for IT asset disposition and the high cost of services are estimated to curb the growth of the IT asset disposition market throughout the forecast period. Moreover, the unsustainable practices and the unauthorized standards are further expected to act as major challenges for the market players, thus restricting the market growth in the near future. Nonetheless, the value recovery from the obsolete assets is predicted to offer growth opportunities for the global market in the next few years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “IT Asset Disposition (ITAD) Market (Asset Type - Computers/laptops, Mobile devices, Peripherals, Storages, Servers, Other network equipment; Services - Data sanitization/data destruction, Recovery, Recycling, and Others; End Use - BFSI, Telecom and IT, Healthcare, Aerospace, Energy and Utilities, Media and Entertainment, Government, Education, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global IT asset disposition (ITAD) market has been segmented as below:
Global IT Asset Disposition (ITAD) Market, By Asset Type
Global IT Asset Disposition (ITAD) Market, By Service
Global IT Asset Disposition (ITAD) Market, By End-use
Global IT Asset Disposition (ITAD) Market, By Geography
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453