IT Asset Disposition (ITAD) Market size is set to grow by USD 14.85 bn from 2024-2028, growing implementation of regulatory compliances regarding data security to boost the market growth, Technavio

NEW YORK, May 14, 2024 /PRNewswire/ -- The global it asset disposition (itad) market size is estimated to grow by USD 14.85 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 11.48% during the forecast period.

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Key Market Trends Fueling Growth

• The rising demand for data migration, particularly from databases to cloud platforms, is exerting a profound influence on IT infrastructure disposition.
• The need for effective management and disposition of decommissioned IT assets has surged in recent years, propelled by the widespread adoption of cloud services worldwide.
• Cloud-based IT Asset Disposition (ITAD) solutions are gaining traction among businesses due to their ability to efficiently and securely recycle and erase information.
• Cloud technologies and mobile work options are opening new avenues for innovation within organizations, presenting fresh opportunities for business leaders.
• Leveraging Bring Your Own Device (BYOD) trends, business leaders craft strategies to enhance competitiveness, elevate productivity and efficiency, and fortify customer relationships.
• BYOD, an IT policy permitting employees to use personal mobile devices such as smartphones, tablets, and laptops to access enterprise data, is increasingly prevalent.
• However, implementing a BYOD policy entails complexities as it brings both advantages and disadvantages if not executed properly.
• Despite challenges, a well-implemented BYOD policy can bolster productivity and foster innovation, factors poised to drive growth in the global IT Asset Disposition (ITAD) market in the forecast period.

Market Challenges

• Many organizations tend not to allocate dedicated budgets for IT asset disposal due to perceiving the process or associated services as excessively costly or challenging to manage.
• Disposing of IT assets can be daunting, particularly as these assets may contain sensitive data that requires safeguarding, making it challenging to discard them when they become obsolete, redundant, or outdated.
• Furthermore, since equipment may be recycled or repurposed, it must be disposed of in a legal and sustainable manner, necessitating adherence to established IT Asset Disposition (ITAD) regulations.
• Limited resources, especially prevalent among small and medium enterprises (SMEs), represent another significant factor contributing to the scarcity of specialized budgets for IT asset disposal.
• Organizations typically prioritize allocating funds towards essential equipment and services, as the value recovery from outdated assets is often minimal.
• However, failing to allocate adequate funds, opting for lower-cost providers, or neglecting proper asset disposal procedures may result in substantially higher costs and pose risks to both workers and environmental health, as well as expose security vulnerabilities.
• These factors have the potential to impede the growth of the global IT Asset Disposition (ITAD) market in the forecast period.

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Segment Overview

This it asset disposition (itad) market report extensively covers market segmentation by

1. Industry Application
• 1.1 Large organizations
• 1.2 Small organizations
2. Type
• 2.1 Computers
• 2.2 Mobile devices
• 2.3 Others
3. Geography
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Large organizations- The IT Asset Disposition (ITAD) market plays a vital role in managing the disposal of IT assets, including Mobile Devices, Servers, Digital Storage Devices, and Peripherals, for large organizations. With the rapid adoption of new technologies and frequent retirement of old assets, ITAD services provide scalability for efficient disposition. The Data Destruction segment is a critical aspect of ITAD, ensuring secure destruction of Persona Identifying Information to prevent data breaches and comply with regulatory requirements such as HIPAA security rule and NAID AAA. ITAD also includes Reverse Logistics, De-Manufacturing, Remarketing, and Recycling. Major verticals like Aerospace & Defense, Energy and Power, and the IT & telecom segment rely on ITAD services for Asset recovery, Data destruction, and Lifecycle management services. The Data Destruction process adheres to ISO standards and uses advanced techniques like cloud-based computing and virtualization for secure destruction. Obstacles in ITAD include the consolidation of data centers and the evolution of technologies and organizations' work processes. IT equipment like iOS 15 devices require specialized handling and data security. Environmental protection is another concern, with companies like ERI and Iron Mountain Incorporated leading the way in responsible recycling. The ITAD market caters to various industries, including the Aerospace & Defense, Energy and Power, and the IT & telecom segment. It offers comprehensive ITAD programs, addressing the challenges of data security, regulatory requirements, and environmental protection during Cloud migration and the retirement of old assets.

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Research Analysis

The IT Asset Disposition (ITAD) market encompasses a range of services, including ISO-standardized asset recovery, data destruction, and lifecycle management. These solutions are crucial for managing Personally Identifying Information (PII) in the context of cloud-based computing and data centers. Compliance with regulatory requirements, such as HIPAA security rules, is essential. ERI, Netflix, Amazon, and other organizations leverage ITAD services for old assets and technologies during consolidation and cloud migration. BYOD trends add complexity, necessitating comprehensive ITAD programs. Energy-efficient products and environmental protection are also key considerations. Iron Mountain Incorporated and other providers offer IT lifecycle solutions, addressing obstacles through the evolution of technologies.

Market Research Overview

The IT Asset Disposition (ITAD) market is a significant segment of the global tech industry. It involves the proper disposal and recycling of IT assets, including servers, desktops, laptops, and other electronic devices. The process includes data security, de-provisioning, transportation, and disposal or resale of IT equipment. Companies specializing in ITAD services ensure secure destruction of data and adherence to environmental regulations. They provide organizations with a cost-effective solution for end-of-life IT assets, maximizing return on investment through data recovery, refurbishment, and resale. The market is driven by the increasing adoption of technology, the need for data security, and the growing awareness of environmental sustainability. Additionally, regulatory compliance and the potential for revenue generation through ITAD services are key factors fueling market growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Industry Application
• Large Organizations
• Small Organizations
• Type
• Computers
• Mobile Devices
• Others
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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