IT Asset Disposition Global Market Report 2024

The global it asset disposition market has grown strongly in recent years. It will grow from $17.94 billion in 2023 to $19.58 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth observed in the historical period can be linked to several factors, including the recovery of asset values, increased demand in emerging markets, management of obsolete equipment, turnover in consumer electronics, the impact of globalization, and advancements in supply chain management.

The global it asset disposition market is expected to see strong growth in the next few years. It will grow to $28.36 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The projected growth in the upcoming period is anticipated to stem from various factors such as data center decommissioning, efforts towards maximizing asset recovery and value, increasing consumer awareness leading to better e-waste management, and the upgrade of end-of-life IT hardware. Additionally, the globalization of ITAD (IT Asset Disposition) services is expected to contribute to this growth. Noteworthy trends in the forecasted period encompass environmental regulations, initiatives promoting the circular economy, shifts in remote workforce dynamics, and increased IT hardware upgrades.

The proliferation of electronic device usage is projected to drive the IT asset disposition market ahead. The COVID-19 pandemic and subsequent lockdowns have notably influenced contemporary lifestyles, leading to increased reliance on electronic equipment for business, education, and leisure. These devices are designed to manage electrical currents for information processing and system control. IT asset disposition plays a crucial role in securing business data and appropriately managing the decommissioning and disposal of diverse electronic devices. For instance, LG, a South Korea-based consumer electronics company, reported record-breaking sales exceeding $60 billion in 2022, marking a 12.9% surge from 2021. This upswing highlights the surging adoption of electronic devices, subsequently driving the IT asset disposition market.

The escalating adoption of cloud-based solutions is poised to fuel growth in the IT asset disposition market. Cloud adoption involves leveraging cloud technologies to optimize business operations, bolster scalability, curtail costs, and mitigate risks. Cloud-based IT asset disposition (ITAD) entails retiring IT assets securely through decommissioning and disposal, managed via cloud-based platforms. These solutions offer centralized asset management, real-time disposition tracking, and secure data destruction. For example, Eurostat reported a 41% adoption of cloud computing among EU enterprises in 2021, predominantly for hosting e-mail systems and storing electronic files, marking a 5% rise from 2020. Large EU businesses showcased a 72% adoption rate, surging by 7% from 2020. Consequently, the increased adoption of cloud-based solutions is propelling the IT asset disposition market.

Strategic partnerships emerge as a pivotal trend in the IT asset disposition market, with major players forging partnerships to bolster their market presence. For instance, US-based IT asset disposition provider ERI entered a partnership with Closed Loop Partners to fortify circular supply chains benefiting society, the environment, and business. For instance, in July 2021, ERI, a US-based IT asset disposition provider, partnered with Closed Loop Partners. Through this partnership, ERI will enhance circular supply chains that benefit people, the environment, and business. Closed Loop Partners is a US-based investment firm.

Key industry players in the IT asset disposition market are focused on introducing innovative tools like real-time environmental impact reporting tools to gain competitive advantages. These tools furnish real-time data tailored for ESG (environmental, social, and governance) reporting. Apto Solutions, a US-based IT asset disposition service provider, launched its Environmental Impact Reporting Tool in June 2022. This tool, integrated into their Pulse platform, offers real-time emissions data, empowering clients to demonstrate their ITAD initiatives' positive environmental effects in ESG reports.

In January 2022, Iron Mountain Incorporated, a renowned US information management entity, completed the acquisition of ITRenew, an undisclosed transaction. This strategic move signifies a significant development within Iron Mountain's global IT asset lifecycle management division, now powered by ITRenew's platform. This acquisition substantially bolsters the company's capabilities, enabling comprehensive services across corporate end-user devices, corporate data centers, and hyper-scale segments. ITRenew, a US-based company specializing in IT asset disposition services, is now part of Iron Mountain's expanded portfolio.

Major companies operating in the it asset disposition market report are Dell Technologies Inc., Hewlett Packard Enterprise Company, International Business Machines Corporation, Sims Limited, Iron Mountain Incorporated, Tes-Amm India Private Limited, Apto Solutions Inc., LifeSpan International Inc., Arrow Electronics Inc., EOL IT Services LLC, Exit Technologies Inc., GreenTek Teman Pvt Ltd., Maxicom Network Inc., TBS Industries Inc., CloudBlue Technologies Inc., CompuCycle USA LLC, EPC Inc., Electronic Recyclers International Inc., Excess Logic LLC, Insight Enterprises Inc., IT Liquidators LLC, IT Renew Inc., ITAD Solutions LLC, Liquid Technology Inc., NextUse LLC, PlanITROI Inc., Procurri LLC, Redemtech Inc., Stone Environmental Inc.

Asia-Pacific was the largest region in the IT asset disposition market in 2023. The regions covered in the it asset disposition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the it asset disposition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary services within IT asset disposition encompass de-manufacturing and recycling, remarketing and value recovery, data destruction or sanitation, logistics management including reverse logistics, alongside additional services like on-site audit solutions and client-centric online portals. De-manufacturing services involve dismantling gadgets to recycle every usable component. It's a recycling method aimed at disassembling objects to retrieve maximum recyclable material. Assets in IT asset disposition include computers, laptops, servers, mobile devices, storage devices, and peripherals utilized across various business verticals such as BFSI, IT and telecom, education, healthcare, aerospace and defense, public sector, manufacturing, media and entertainment, and other sectors.

This report provides IT asset disposition market statistics, including IT asset disposition industry global market size, regional shares, competitors with a IT asset disposition market share, detailed IT asset disposition market segments, market trends and opportunities, and any further data you may need to thrive in the IT asset disposition industry. This IT asset disposition market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The IT asset disposition market includes revenues earned by entities by destruction of data, reverse logistics, remarketing, value recovery, de-manufacturing and recycling. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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