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Global IT Asset Disposition (ITAD) Market to Reach $24.5 Billion by 2026
SAN FRANCISCO, July 14, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "IT Asset Disposition (ITAD) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 6; Released: July 2021
Executive Pool: 2572
Companies: 107 - Players covered include Apto Solutions, Inc.; Asset Management Ireland Ltd.; Dell Technologies; EOL IT Services Ltd.; Exit Technologies; Gigacycle Ltd.; GreenTek Reman Pvt. Ltd.; Hewlett-Packard Enterprise; IBM Corporation; ICEX Ltd.; Ingram Micro; Iron Mountain Incorporated; ITRenew, Inc.; LifeSpan International, Inc.; Maxicom Inc.; MultiTek, LLC; Sims Recycling Solutions, Inc.; TBS Industries Inc.; Tes-Amm India Pvt. Ltd.; Tes-Amm Singapore Pte Ltd.; Wisetek Solutions, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Service (Remarketing & Value Recovery, De-Manufacturing & Recycling, Data Destruction/Data Sanitization, Logistics Management & Reverse Logistics, Other Services); Asset Type (Computers/Laptops, Mobile Devices, Servers, Peripherals, Storage Devices, Other Asset Types); End-Use (IT & Telecom, Media & Entertainment, BFSI, Healthcare, Government, Educational Institutions, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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ABSTRACT-
Global IT Asset Disposition (ITAD) Market to Reach $24.5 Billion by 2026
Amid the COVID-19 crisis, the global market for IT Asset Disposition (ITAD) estimated at US$14.6 Billion in the year 2020, is projected to reach a revised size of US$24.5 Billion by 2026, growing at a CAGR of 8.8% over the analysis period. Remarketing & Value Recovery, one of the segments analyzed in the report, is projected to grow at a 9.5% CAGR to reach US$7.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growthin the De-Manufacturing & Recycling segment is readjusted to a revised 7.9% CAGR for the next 7-year period. This segment currently accounts for a 21% share of the global IT Asset Disposition (ITAD) market.
The U.S. Market is Estimated at $5.8 Billion in 2021, While China is Forecast to Reach $3.4 Billion by 2026
The IT Asset Disposition (ITAD) market in the U.S. is estimated at US$5.8 Billion in the year 2021. The country currently accounts for a 37.69% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$3.4 Billion in the year 2026 trailing a CAGR of 12.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.6% and 8.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.6% CAGR while Rest of European market (as defined in the study) will reach US$3.9 Billion by the close of the analysis period.
A host of factors are expected to boost the prospects for ITAD services market in the coming years. ITAD services market typically stands to gain from massive installed base of IT systems such as computers and servers; growing adoption of advanced technologies and concepts such as cloud computing and BYOD; fast evolving role of IoT; and shift towards Industry 4.0 & 'Smart Factory' environments. At the same time, factors such as environmental concerns and regulatory issues pertaining to IT assets disposal, and data security regulations such as GDPR will have a strong bearing on future growth of the ITAD services market. In post COVID-19 period, enterprises will be more willing to leverage ITAD services such as recovery, recycling, data destruction or data sanitization, to manage the waste disposal, restrict the risk of data loss, and the subsequent financial losses, thus giving impetus to ITAD services market. Rising demand for refurbished/used IT equipment and rapidly evolving data security concerns with discarded IT equipment, also favor long-term growth in the ITAD services market.
Data Destruction/Data Sanitization Segment to Reach $7.2 Billion by 2026
Data destruction and data sanitization remains the largest service segment within the ITAD services market. There have been noteworthy developments in data destruction and data sanitization domains in recent years, some of which include new standards for media sanitization, emergence of diverse data storage devices, dedicated sanitized commands for data destruction, adoption of cryptographic erase method, and relevance of one-pass overwrite. In the global Data Destruction/Data Sanitization segment, USA, Canada, Japan, China and Europe will drive the 9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.3 Billion in the year 2020 will reach a projected size of US$6.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$685.3 Million by the year 2026. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.
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