DUBLIN, September 29, 2022 /PRNewswire/ — The “Global IT Asset Disposal Market by Service Type, Asset Type (Computers/Laptops, Servers, Mobile Devices, Storage Devices, Peripherals), Organization Size (Small and Medium Enterprises, Large Enterprises), User and Region Report – Forecast to 2027” has been added to from ResearchAndMarkets.com offer.
Global IT Asset Disposition Market is valued at $15.5 billion in 2022 and should be $23.5 billion by 2027; growing at a CAGR of 8.7% from 2022 to 2027
The growing demand for factors such as the need for data and information security in old assets to grow the market at an estimated rate.
IT asset disposal services are great for destroying confidential or sensitive data such as trade secrets, confidential lists, customer names, credit card data, or other potentially high-risk information. The process involves onsite and offsite sanitization or wipe service for safe and secure destruction of data while preserving hard drive usability and functionality.
IT asset disposal service providers ensure that sensitive corporate data is destroyed before it leaves the facility. Supplier erases, degausses or physically destroys company media devices.
Rise in data breaches has forced data center providers to dispose of IT assets before dismantling
Server components include central processing units (CPUs), high-performance RAMs, and one or more hard drives. Recycling a decommissioned server involves dismantling hardware and components, including disks, memory, fans, power, and network adapters that can be reused. If the chassis or board is too old or too damaged to be reused and resold, it is recycled responsibly with a qualified electronics recycling provider.
Need to comply with regulatory compliance for environmental safety
people are increasingly aware of the need to protect the environment. This has led to the growing acceptance of proper processes and methods for waste disposal.
One of the most environmentally harmful waste components is electronic waste, which requires proper care and security for proper disposal and destruction, creating demand for IT asset disposal services. Thus, many companies are implementing green technologies as a step towards environmental safety, which is also driving the IT asset disposal market.
Competitive landscape
Key players operating in the IT asset disposal market include few globally established players such as Dell Technologies (US), Hewlett Packard Enterprise (US), IBM (US), Sims Limited (Australia), Iron Mountain (USA), 3StepIT (Finland), YOUR (Singapore) and Apto Solutions (USA).
Premium Previews
- Increased adoption of IT asset disposition in Asia Pacific to drive the market
- Small and medium enterprises will register a higher CAGR during the forecast period
- Computers/Laptops Dominated the IT Asset Disposal Market in 2021
- North America: US and BFSI to Hold Largest IT Asset Disposal Market Shares in 2027
- Remarketing and Value Recovery Segment to Register Highest CAGR from 2022 to 2027
- US Holds Largest IT Asset Disposal Market Share in 202
Market dynamics
Drivers
- Need to comply with regulatory compliances intended for environmental safety
- Requirement for data and information security in legacy assets
- Evolution of technologies and consolidation of the BYOD trend
- Switch to energy efficient products
Constraints
- Low awareness and high service costs
- Lack of comprehensive IT asset disposal policies
- Negligible value recovery of e-waste
Opportunities
- Strategic partnerships and acquisitions
- Rise in Demand for IT Asset Disposal from Small and Medium Businesses
- Increased sales of old equipment on auction websites
Challenges
- Presence of unauthorized service providers and unsustainable practices
- Lack of budget for disposal of IT assets
Technological analysis
- Growing use of Internet of Things (IoT) is positively impacting IT Asset Disposal Market
- Integration of artificial intelligence with IT asset disposal solutions
Case study analysis
- Accelerated Dismantling of Top Health Tech Company’s Data Center with Iron Mountain Services
- Excess Logic helped a multimedia technology company dispose of assets
- TES helped the customer achieve $8.4 billion Net financial return for obsolete IT equipment
- Ingram Micro helped a healthcare organization refresh its corporate assets
Market regulations and standards
- Standards
- Regulations
- Restriction of Hazardous Substances (RoHS) and Waste Electrical and Electronic Equipment (WEEE)
- General Data Protection Regulation (GDPR)
- Import-export laws
- Standards in ITS/C-ITS
Company Profiles
Key players
- Dell Technologies
- Hewlett Packard Enterprise
- IBM
- sims limited
- iron mountain
- 3StepIT
- EST
- AptoSolutions
- International lifespan
- Global IT Total
Other players
- Oceantech
- BRP Infotech
- Curvature
- SCT Industries
- Ingram Microphone
- Inrego
- A tea
- Renewtech
- Blancco Technology
- Prolimax
- End of life IT services
- Flexible IT distribution
- CSI leasing
- CHG Meridian Group
For more information about this report visit https://www.researchandmarkets.com/r/cf4cr
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SOURCE Research and Markets