Global IT Asset Disposal (ITAD) Market to Reach $24.5 Billion by 2026 |


SAN FRANCISCO, March 3, 2022 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “IT Asset Disposition (ITAD) – Global Market Trajectory and Analysis”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.

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Editing: 7; Published: February 2022

Executive Pool: 2572

Companies: 107 – Players covered include Apto Solutions, Inc.; Asset Management Ireland Ltd. ; Dell Technologies; EOL IT Services Ltd. ; Output technologies; gigacycle ltd. ; GreenTek Reman Pvt. ltd. ; Hewlett-Packard Enterprise; IBM Corporation; ICEX Ltd. ; Ingram Microphone; Iron Mountain Incorporated; ITRenew, Inc.; LifeSpan International, Inc.; Maxicom Inc.; MultiTek, LLC; Sims Recycling Solutions, Inc.; TBS Industries Inc.; Tes-Amm India Pvt. ltd. ; Tes-Amm Singapore Pte Ltd. ; Wisetek Solutions, Inc. and others.

Blanket: All major geographies and key segments

segments: Service (Remarketing & Valuation, De-Manufacturing & Recycling, Data Destruction/Data Sanitization, Logistics Management & Reverse Logistics, Other Services); Asset type (computers/laptops, mobile devices, servers, peripherals, storage devices, other asset types); End use (computers and telecommunications, media and entertainment, BFSI, healthcare, government, educational institutions, other end uses)

Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia Pacific; Rest of the world.

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ABSTRACT-

Global IT Asset Disposition (ITAD) Market to Reach $24.5 billion by 2026

ITAD is primarily focused on disposing of unwanted, worn out and obsolete information technology (IT) equipment in a safe and environmentally responsible manner. Modern businesses typically have a heavy IT equipment replacement cycle and are regularly faced with decisions about reselling, refurbishing, disposing of, or recycling their old, worn-out business equipment. For these organizations, ITAD vendors extend support for streamlining the IT asset disposition process, while maximizing loss recovery and reducing costs. Extending a reliable response to many considerations when replacing obsolete commercial equipment, ITAD suppliers emphasize various related aspects such as asset tracking, responsible recycling, legal compliance, refurbishment and resale, destruction of data and harvesting of software.

Amid COVID-19 crisis, Global IT Asset Disposition (ITAD) Market Estimated at US$17.1 billion in 2022, is expected to reach a revised size of US$24.5 billion by 2026, growing at a CAGR of 8.8% over the analysis period. Remarketing and Value Recovery, one of the segments analyzed in the report, is expected to grow at a CAGR of 9.5% to reach US$7.3 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the De-Manufacturing & Recycling segment is readjusted to a revised CAGR of 7.9% for the next 7-year period. This segment currently accounts for a 21% share of the global IT asset disposal (ITAD) market.

The US market is estimated at $6.4 billion in 2022, when China is expected to reach $3.4 billion by 2026

The IT Asset Disposition (ITAD) market in the United States is estimated at US$6.4 billion in 2022. The country currently accounts for a 37.69% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$3.4 billion in 2026 with a CAGR of 12.1% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 7.6% and 8.8% respectively over the analysis period. In Europe, Germany is expected to grow around 7.6% CAGR while the rest of the European market (as defined in the study) will reach US$3.9 billion at the end of the analysis period.

A host of factors are expected to drive the ITAD services market outlook in the coming years. The ITAD services market generally stands to gain from a massive installed base of IT systems such as computers and servers; the growing adoption of advanced technologies and concepts such as cloud computing and BYOD; rapidly evolving role of IoT; and move to Industry 4.0 and “Smart Factory” environments. At the same time, factors such as environmental concerns and regulatory issues relating to IT asset disposal, as well as data security regulations such as GDPR will strongly impact the future growth of the services market. ITAD. In the post-COVID-19 era, businesses will be more willing to take advantage of ITAD services such as data recovery, recycling, destruction or sanitization, to manage waste disposal, limit the risk of data loss and subsequent financial losses, thus giving impetus to the ITAD services market. Growing demand for refurbished/used IT equipment and rapidly evolving data security issues related to discarded IT equipment are also driving the long-term growth of the ITAD services market.

Data destruction/cleaning segment to reach $7.2 billion by 2026

Data destruction and sanitization remains the largest service segment of the ITAD services market. There have been notable developments in the areas of data destruction and sanitization in recent years, some of which include new standards for media sanitization, the emergence of various data storage devices, sanitized commands dedicated to the destruction of data, the adoption of a cryptographic erasure method and the suitability of a -pass overwrite. In the global data destruction/sanitation segment, United States, Canada, Japan, China and Europe will drive the CAGR of 9% estimated for this segment. These regional markets representing a combined market size of US$3.3 billion will reach a projected size of US$6.1 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$685.3 million by 2026. Continued

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SOURCE Global Industry Analysts, Inc.

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