Albany, NY -- (SBWIRE) -- 02/09/2017 -- The global IT asset disposition (ITAD) market, was valued at US$ 9.89 Bn in 2015 and is expected to witness growth at a CAGR of 7.1 % from 2016 to 2024. ITAD is a procedure for the safe disposal of organizations' IT assets. ITAD comprises several processes, including data sanitization/data destruction, recovery, and recycling. Companies increasingly demand the resale and remarketing of used equipment in order to reap the maximum possible ROI.

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Data breaches result in monetary losses. When an IT asset is set out for disposal, it is essential from to ensure that the data stored in the asset is either migrated or destroyed. The rising trend of migration toward the cloud is leading to older IT infrastructure being replaced; ITAD plays an important role in this process, taking care of data security and offering the maximum ROI during disposal. Governments around the globe are concentrating on environmental issues arising from e-waste, leading to the drafting of various regulations. Furthermore, organizations demand that ITAD service provides are regionally certified; these certifications include eSteward and Responsible Recycling (R2). ITAD service providers are focused on attaining the highest levels of certification in order to establish themselves in new markets, and are also investing in emerging markets in order to expand their operations at a global scale.

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The demand for used IT components is increasing, due to their availability at lower prices; this benefits small businesses, educational institutions, and domestic users. The global ITAD market has been segmented on the basis of asset type, services, and end-use. Asset types include computers/laptops, mobile devices, peripheral, storages, servers, and other network equipment. Services comprise data sanitization/data destruction, recovery, and recycling. The end-use segments, from where obsolete assets are procured, comprise the banking, financial services, and insurance (BFSI); telecom and IT; aerospace; government; media and entertainment; energy and utilities; education; and other industries.

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In recent years, increased stringency in legal requirements surrounding environmental concerns have enhanced the importance of industry standards and certifications. Certifications are expected make standards that differentiates among vendors, and the client can make choices on the basis of the vendors' conformity to these standards. Some of the key industry standards include Responsible Recyclers Certification (R2), eStewards, ISO 9001 Certification, ISO 14001 Certification, OHSAS 18001 Certification, and NAID AAA Certification. Key service providers of ITAD include TBS Industries, ITRenew Inc., Arrow Electronics, Inc., CloudBlue Technologies, Inc., Sims Recycling Ltd., Iron Mountain Incorporated, Dataserv Group, Apto Solutions, Inc., TES-AMM Pte Ltd., LifeSpan International, Inc., Dell, Inc., and Hewlett Packard Enterprise Development LP.

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