IT Asset Disposition (ITAD) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 09/02/2016 -- TMR report points out that the opportunity in the global IT asset disposition market will be worth US$18.18 bn by 2024 as compared US$9.89 bn in 2015. During the forecast period of 2016 and 2024, the global market is expected to expand at a CAGR of 7.1%. The telecom and IT sector is projected to be the biggest end user of the assets and services available in the overall market. Meanwhile, the media and entertainment segment will surge at a CAGR of 8.9% in the same forecast period.
The key players shaping the trajectory of the global IT asset disposition (ITAD) market are focused on increasing their geographical reach to assert their presence and win more customers. The top five leading players in the global ITAD market are HP Ltd., Dell Inc., Arrow Electronics, Inc., CloudBlue Technologies, Inc. and Sims Recycling. These are expected to increase their presence in other vertical markets through PC manufacturing. Simultaneously, HP Ltd., and Dell Inc. are will be investing in expanding their ITAD services to enable reserve logistics.
The competitive landscape of the global ITAD market is also being defined by strategic mergers and acquisitions made by leading players to enhance their knowledge base, products and services portfolio, and their increase their presence in certain areas of the world.
Changing IT Landscape Demands Safer Disposal of IT Assets
A TMR analyst says, "The revolution brought about by the unstoppable progress and penetration of cloud computing solutions, big data analytics, cognitive computing, and the Internet of Things (IoT) in the IT industry has completely changed businesses and consumer behaviors." The constantly changing IT landscape is the primary growth driver as the industry requires safe and reliable methods of disposing e-waste to mitigate the impact of pollution on the environment. Thus, the developments made to customize efficient disposal of e-waste are anticipated to drive the sale of assets and services in near future. Supportive regulatory framework to ensure safe disposal of e-waste across the world is also augmenting this market.
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The need for ITAD services and assets will especially increase amongst small and medium enterprises (SME) in the near future as the regulator pressure increases. Therefore, booming SMEs, especially in the emerging economies, will have a positive impact on the rise of the ITAD market. Catering to specific needs of the customers will also open up new opportunities for the vendors operating in the global ITAD market.
High Investments Discourage Consumers Despite Significant ROI
Despite the promising outlook on the progress of the overall ITAD market, it is being tugged in the opposite direction due to restraints such as high initial investment. Customers are showing reluctance towards adopting ITAD solutions despite its high return on investment due to its capital-intensive nature. The lack of awareness about the benefits of proper disposable of IT assets amongst the global population is yet another factor dissuading the market from realizing its preset objectives. The concerns regarding data security while disposing of the IT assets is also a significant impediment for the vendors in the market.
The review of the global IT asset disposition market has been based on the findings published by Transparency Market Research titled "IT Asset Disposition (ITAD) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024." Report- http://www.transparencymarketresearch.com/it-asset-disposition-market.html
IT Asset Disposition (ITAD) Market Segmentation
By Asset Type
Other network equipment
Data sanitization/data destruction
Telecom and IT
Energy and utilities
Middle East and Africa (MEA)