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
Albany, NY -- (SBWIRE) -- 07/14/2016 -- The competitive landscape of the global IT asset disposition (ITAD) market is dominated by Dell and HP, which have achieved strong global presence and extensive penetration. According to Transparency Market Research, at present, the global IT asset disposition market is marked by the increasing efforts by companies intended to boost their global presence.
"The increasing volume of opportunities in emerging regions such as Southeast Asia and Latin America is driving efforts to expand operations in these regions," according to TMR's lead analyst.
Other key players in the global IT asset disposition market include TBS Industries, CloudBlue Technologies Inc., Iron Mountain Incorporated, Arrow Electronics Inc., LifeSpan International, Inc., Sims Recycling Ltd., and Dataserv Group.
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Increasing Adoption of Cloud Computing Beneficial for Global ITAD Market
The increasing migration to cloud computing in the corporate sector is the prime driver for the global IT asset disposition market. Adoption of cloud computing leads to the removal of older IT assets, which are made obsolete by cloud computing. This leads to a risk of a security breach, since the smallest manual error can lead to large volumes of data becoming available without authorization. IT asset disposition services monitor the data security closely, helping the end users increase their overall ROI.
The increasing demand for used computing hardware has also driven the global IT asset disposition market. Due to the cheaper costs of previously used hardware in comparison to new equipment, an increasing number of consumers prefer buying the former. Small businesses and educational institutes also usually opt for used IT equipment, which keeps their own IT costs low. IT asset disposition companies can also carry out these sales, further increasing the profit margin of the end user.
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The widespread prevalence of stringent regulations governing the disposition of IT assets is another major driver for the global IT asset disposition market. Being made from plastics, e-waste is nonbiodegradable and a major component of global pollution. This has led to several governments around the world cracking down on manufacturers of e-waste. The penalties for improper disposal are forcing companies to either opt for resale of IT assets or ensure proper disposal, which has driven the demand for IT asset disposition services.
Computers and Laptops Lead ITAD Market, APAC Likely to Dominate Global Market
Among the various types of IT assets under the purview of the global market, computers and laptops held a dominant 30% share in the global market in 2015. Computers and laptops have been the dominant IT equipment in the global corporate sector so far and are accordingly expected to remain the largest product segment of the global IT asset disposition market. Other major product types in the market include mobile devices, servers, peripherals, and storages.
Of the various end users of IT asset disposition services, the telecom and IT industry naturally emerged as the leading application segment of the global IT asset disposition market in 2015. The inevitably extensive dependence of the IT and telecom industry on IT assets led to the segment accounting for 42% of the global market. Other key end-use segments of the global IT asset disposition market are BFSI, education, energy and utilities, government, media and entertainment, manufacturing, aerospace, healthcare, and others.
Regionally, North America was the largest market for IT asset disposition services in 2015. However, the rising demand from Asia Pacific is likely to make it the largest regional segment of the global ITAD market by 2024.
This review is based on the findings of a market report by Transparency Market Research, titled 'IT Asset Disposition (ITAD) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.' The report indicates that the global IT asset disposition market is expected to exhibit a sturdy 7.10% CAGR between 2016 and 2024, rising from a 2015 valuation of close to US$9.9 bn to almost US$18.2 bn.
The global IT asset disposition market is segmented as follows:
By Asset Type
Other network equipment
Data sanitization/data destruction
By End use
Telecom and IT
Energy and utilities
Middle East and Africa (MEA)