The global IT asset disposition (ITAD) market is predicted to touch USD 27 billion at a 12% CAGR between 2019- 2025 states the recent Market Research Future (MRFR) analysis. IT asset disposition or ITAD, simply put, is a process to dispose of unwanted or outmoded equipment in an environmentally responsible & safe manner. It has wide applications in media and entertainment, manufacturing, aerospace and defense, education, IT and telecom, BFSI, and others.
Various factors are propelling the global IT asset disposition market share. As per the current MRFR report, such factors include stringent data security compliance with environmental regulations, growing need for maximizing asset value recovery and storing assets in inventory, increasing use of electronic gadgets for enterprise usage such as tablets, laptops, and mobiles, demand for consumer electronics, need for efficient disposition of IT assets, and unprecedented use during the COVID-19 outbreak.
On the contrary, high capital investment, lack of awareness, requisite certification to get recognition, and concerns about data security are factors that may limit the global IT asset disposition market growth over the forecast period.
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The MRFR report provides an inclusive segmental analysis of the global IT asset disposition market based on industry vertical, organization size, service, and asset type.
By asset type, the global IT asset disposition market is segmented into peripherals, storage devices, servers, mobile devices, and computers. Of these, the mobile devices segment will lead the market over the forecast period and at a high CAGR. The rising number of tablets and smartphones for work for increasing popularity of BYOD is adding to the growth of the segment.
By service, the global IT asset disposition market is segmented into remarking, logistics management, remarketing and value recovery, de-manufacturing, reverse logistics, recycling, and data destruction.
By organization size, the global IT asset disposition market is segmented into large enterprises and SMEs. Of these, the SMEs segment will dominate the market over the forecast period. The rising trend of BYOD at workplaces is adding to the growth of the segment.
By industry vertical, the global IT asset disposition market is segmented into media and entertainment, manufacturing, aerospace and defense, education, IT and telecom, BFSI, and others. Of these, the media and entertainment industry will command the largest share in the market over the forecast period and at a high CAGR.
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