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IT Asset Disposition (ITAD) Market Size

Report ID: GMI6549
Published Date: Aug 2023
Report Format: PDF

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IT Asset Disposition (ITAD) Market Size

IT Asset Disposition Market size was valued at USD 14.5 billion in 2022 and is projected to register a CAGR of 8% between 2023 and 2032. The stringent enforcement of data protection regulations, such as general data protection regulation, compels businesses to ensure meticulous data erasure and secure disposal of IT assets. The potential for substantial fines due to non-compliance drives the demand for professional ITAD services. This factor plays a crucial role in the growth of the market as organizations prioritize safeguarding sensitive information during the disposal process to prevent data breaches and maintain regulatory adherence.

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The rising need to prevent data leaks and breaches is a significant driver behind the growth of the market. ITAD services offer expertise in secure data destruction, ensuring that sensitive information is completely wiped from retired IT assets. As data privacy regulations become more stringent and breaches more costly, businesses seek reliable ITAD solutions to mitigate risks. This heightened awareness of data security fuels the demand for professional ITAD services, propelling the market expansion.

IT Asset Disposition Market Report Attributes
Report Attribute	Details
Base Year:	2022
IT Asset Disposition Market Size in 2022:	USD 14.5 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	8%
2032 Value Projection:	USD 31.4 Billion
Historical Data for:	2018 – 2022
No. of Pages:	220
Tables, Charts & Figures:	351
Segments covered:	Asset type, Services, Enterprise size, Industry Vertical
Growth Drivers:	Increasing data security & privacy concerns Rapid technological advancements in data centers Increasing demand for cloud computing Rising e-waste volumes Increasing awareness of environmental issues
Pitfalls & Challenges:	Poor resources E-waste disposal challenges

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Proper disposal and recycling of e-waste generated by IT assets are significant challenges to the IT asset disposition market. E-waste contains hazardous materials that can harm the environment and human health if not managed correctly. Many regions lack the necessary infrastructure for safe e-waste disposal & recycling, leading to improper disposal practices including informal recycling, incineration or landfilling, which release harmful substances into the air, soil & water. Investments in specialized recycling facilities and raising awareness about responsible e-waste management are required to address these challenges.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of IT asset disposition (ITAD) reached USD 14.5 billion in 2022 and is set to grow at over 8% CAGR from 2023 to 2032, due to the stringent enforcement of data protection regulations worldwide.

The large enterprises segment recorded more than 65% of the market share in 2022, owing to the greater focus on corporate social responsibility and sustainability.

North America held over 34% of the market share in 2022, driven by the increasing number of facilities offering specialized infrastructure to manage the intricate process of retiring IT assets in the region.

IBM Corporation, Iron Mountain Incorporated, Exit Technologies, Sims Recycling Ltd., Technimove, Dell Inc., Hewlett Packard Enterprise Development LP, Arrow Electronics, and TES-AMM Pte Ltd. are some of the major ITAD companies worldwide.