The IT asset disposition demand has been observing noteworthy growth through the past few years, primarily owing to rising concerns about conserving the environment, prevention of data breaches, and regulatory compliances. The sales is further driven by the need for appropriate e-waste disposition methods, environmental policies to be followed by industries, and the huge amount of e-waste generated. Moreover, the increasing adoption of BYOD trend backed by innovative technologies is anticipated to significantly flourish the IT asset disposition demand in the near future.
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The manufacturers focus is on launching products that are efficient in terms of energy. Their strategies include driving factors like product launch and development. In this way, they are catering to the needs of the customers, as well as, providing a good competitive edge in the sales. Furthermore, they are also playing a major part in spreading the required awareness and information amongst the businesses and customers about the need to dispose off the computer equipment post use.
Rising Environmental Safety Concerns and Implementation of Regulatory Compliances
Due to various regulatory compliances such as HIPAA/HITECH and NIST, companies are obliged to continuously re-evaluate their procedures for management of expired IT equipment. Most of the potential players do not have the robust position necessary to comply with the implementation of these regulations. In addition, lack of a secure and well-organized plan for disposing off worned-out IT equipment can create several issues, such as identification of fraud and theft. Hence, a variety of state and federal environmental and privacy regulations govern the appropriate disposition of computers and electronics, and failure to do so can result in major fines or penalties and audits.
Moreover, the rising awareness among people for environmental safety across the globe has led to increasing acceptance of suitable methods and processes for the disposal of IT waste.
US IT Asset Disposition Growth Outlook
US IT asset disposition sales is estimated to register a high growth rate backed by the introduction of technological advancements and digitalization, leading to the replacement of old equipment. Additionally, in order to manage and ensure the safe disposition of the e-waste generated, demand for ITAD has propelled in the US, over the last few years.
US to account for the largest share of the ITAD usage during the forecast period. The adoption of new technologies, product innovation, high regulatory standards, and awareness of the conservation of the environment are the factors driving the growth of the US IT asset disposition market.
High Demand of IT Asset Disposition across Europe
In Europe, companies are spending more time on IT asset disposition strategies in compliance with the legislations like the data security legislation, Waste Electrical and Electronic Equipment Directive (WEEE), and the General Data Protection Regulation (GDPR). Further, organizations are constantly investing in new technologies in order to keep up with dynamic technological advancements. These strategies help organizations identify cost saving methods while remaining current. In addition, many states are implementing regulations on how to dispose of IT hardware and related equipment.
Thus, Europe is projected to account for the second-largest share of the IT asset disposition services during the forecast period after North America. Germany and UK are major demand-generating countries for IT asset disposition services in this region.
Who are the Key Players in IT Asset Disposition Market?
The vendors offer numerous services such as decommissioning, data destruction, remarketing, recycling, and redeployment of retired IT hardware and equipment. Major players involved in the global IT asset disposition scenario include
- Dell, Inc.
- TES-AMM Singapore Pte Ltd.
- Lifespan International Inc.
- ICT Reverse
- 3stepIT
- Apto Solutions
- Brocent Asia Cloud Service Pte. Ltd.
- Atlantix Global Systems
- ITRenew Inc.
- Others
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By Asset Type:
- Computers/Laptops
- Smartphones and Tablets
- Peripherals
- Storage Devices
- Servers
- Others
By Service:
- De-Manufacturing and Recycling
- Remarketing and Value Recovery
- Data Destruction/Data Sanitization
- Logistics Management and Reverse Logistics
- Other
By Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
By End-use Industry:
- BFSI
- IT & Telecom
- Government
- Energy and Utilities
- Healthcare
- Media and Entertainment
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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