ITAD is a procedure for the safe disposal of IT assets of an organization. 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. The global ITAD market is anticipated to expand with the rising demand for used/refurbished IT equipment and increasing data security concerns across the globe.
The global ITAD market is expected to expand at a CAGR of 7.3% during the forecast period 2019 to 2027. The market is expected to reach US$ 23,184.9 Mn by 2027. Data breaches result in monetary losses. When an IT asset is set out for disposal, it is essential for the company to ensure that the data stored in the asset is either migrated or destroyed. The rising trend of migration of data to the cloud is leading to replacement of older IT infrastructure. This is expected to drive the ITAD market significantly.
Furthermore, governments around the globe are concentrating on resolving the environmental issues that are arising from e-waste, thus resulting in introduction of several rules and regulations regarding the safe disposal of IT assets.These rules and regulations are compelling companies to approach ITAD vendors in order to dispose their assets as per the industry standards. All these factors are expected to drive the global ITAD market.
The global ITAD market has been segmented based on asset type, service, enterprise size, and end-use industry. On the basis of asset type, the market has been segmented into computers/laptops, mobile devices, peripherals, storages, servers, and others. Based on service, the ITAD market has been bifurcated into data sanitization/destruction, recycling, remarketing, asset recovery, and reverse logistics.
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In terms of enterprise size, the market has been classified into small enterprises, medium enterprises, and large enterprises. On the basis of end-use industry, the market has been classified into BFSI, Telecom & IT, government & public, aerospace & defense, energy & utilities, healthcare, media & entertainment, data centers, and others. Revenue data is estimated for all the above mentioned segments.
The ITAD market is also bifurcated on the basis of regions into North America, Europe, South America, Middle East &Africa, and Asia Pacific. In terms of region, the market in Asia Pacific is expected to expand at the fastest rate at a CAGR of around 8.7% during the forecast period 2019-2027. Rising number of companies providing mobile devices to their employees for internal communication is expected to boost the ITAD market significantly. For instance, according to the report titled- “The Mobile Economy 2017,” published by Global System for Mobile Communications (GSMA), approximately 75% of mobile connections in developed regions are from smartphones. Furthermore, according to GSMA, the total number of smartphone users in Europe was approximately 296 million in 2016 and a steady growth is expected in the coming years, thus positively impacting the growth of the ITAD market.
The report also includes competitive profiling of key players associated with the market around the globe. The important business strategies adopted by leading players, their market positioning, financials, and recent developments have been identified in the research report.The competitive landscape section of the report gives an overview about the major regions/countries providing opportunities for key players in order to strengthen their market position in the future.
Global ITAD Market: Research Methodology
The ITAD market data estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. In order to compile the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represents the bulk of our research efforts, supplemented by extensive secondary research. Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the ITAD market, across geographies. Primary interviews are usually conducted on an ongoing basis with industry experts and participants in order to get latest market insights and validate the existing data and analysis.
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Primary interviews offer new and fresh information on important factors such as market trends, market size, competitive landscape, growth trends, etc. These factors help to validate and strengthen secondary research findings. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding purposes. Secondary research also includes a study of recent trade journals, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
