IT Asset Disposition Market is projected to grow beyond revenue of US$ 31.8 Bn by 2032 end at a steady CAGR | Get analytical data by Future Market Insights, Inc.
12/22/2022, Newark // Future Market Insights, Inc. //
According to a recent study done by Future Market Insights, the IT asset disposition market is expected to reach US$ 31.8 Billion by 2032, up from US$ 15.6 Billion in 2022, expanding at a high CAGR of 7.4%. This study explains that factors such as the strict data security compliance with environmental regulations, need to store assets in inventory for remarketing, the need to maximize asset value recovery, and the growing usage of electronic devices such as mobiles, laptops, and tablets for enterprise usage are expected to accelerate the market growth during the forecast period.
The major factor that is expected to propel the growth of the IT Asset Disposition Market during the forecast period includes the awareness of conserving the environment. In addition, the IT asset disposition market has been witnessing significant growth over the past years, mainly owing to regulatory compliances, and the growing need to prevent data breaches.
The market is further driven by the vast amounts of e-waste, the need for safe methods of disposing of e-waste, and environmental policies which are followed by industries. The surging adoption of new technologies and BYOD trend is also expected to considerably boost the IT asset disposition market in the coming years. Moreover, the increase in need for data and information security in old assets acts as one of the major factors fueling the growth of IT asset disposition market during the forecast period.
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Key Takeaways from the Market Study
- Global IT asset disposition market to be valued at US$ 15.6 Bn by 2022-end
- The U.S to account for the highest value share of US$ 11.4 Bn of global market demand for IT Asset Disposition Market in 2032
- From 2015 to 2021, IT Asset Disposition demand expanded at a CAGR of 8.1%
- By asset type, the servers category constitutes the bulk of IT asset disposition market with a CAGR of 7.1%.
Players in the global IT Asset Disposition Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:
- In August 2020, CompuCom (US) and Office Depot (US) partnered to provide a suite of IT hardware and service offerings for small and mid-sized businesses to support their remote workplaces. Companies with between 50 and 1,500 users can access a range of services, including remote IT support, on-site hardware and software repair, and eco-friendly disposal of IT equipment.
- In February 2020, Dell Technologies (US) entered an agreement with Symphony Technology Group (STG), Ontario Teachers’ Pension Plan Board (Ontario Teachers’), and AlpInvest Partners (AlpInvest) to acquire RSA. RSA provides risk, security, and fraud teams with the ability to holistically manage digital risk, including threat detection and response, identity and access management, integrated risk management and omnichannel fraud prevention.
- In July 2019, TES (Singapore) acquired Integrations et Services (I&S) (France), a leading provider of configuration to order, staging, and IT deployment services across France and mainland Europe, to deliver integrated end-to-end IT lifecycle solutions while also helping its clients manage the complexities and risks that are inherent in them.
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Know More About What the IT Asset Disposition Market Repost Covers
Future Market Insights offers an unbiased analysis of the global IT Asset Disposition Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032.
Key Segments Covered in the IT Asset Disposition Market Study
IT Asset Disposition by Service
- IT Asset De-Manufacturing and Recycling
- IT Asset Remarketing and Value Recovery
- IT Asset Data Destruction/Data Sanitization
- IT Asset Logistics Management and Reverse Logistics
- Other Services
IT Asset Disposition by Asset Type
- Computers/Laptops Disposition
- Servers Disposition
- Mobile Devices Disposition
- Storage Devices Disposition
- Peripherals Disposition
IT Asset Disposition by Organization Size
- IT Asset Disposition for SMEs
- IT Asset Disposition for Large Enterprise
IT Asset Disposition by End User
- IT Asset Disposition in Banking, Financial Services, and Insurance (BFSI)
- IT Asset Disposition in IT and Telecom
- IT Asset Disposition in Educational Institutions
- IT Asset Disposition in Healthcare Industry
- IT Asset Disposition in Aerospace and Defense
- IT Asset Disposition in Public Sector and Government Offices
- IT Asset Disposition in Manufacturing
- IT Asset Disposition in Media and Entertainment
- IT Asset Disposition in Other Industries
IT Asset Disposition by Region
- North America IT Asset Disposition Market
- Latin America IT Asset Disposition Market
- Europe IT Asset Disposition Market
- Asia Pacific IT Asset Disposition Market
- Middle East and Africa IT Asset Disposition Market
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