IT Asset Disposition Industry Overview

The global IT asset disposition market size was estimated at USD 20,513.0 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 13.3% from 2023 to 2030.

The increasing electronic waste across the globe is the primary growth driver. According to Global E-waste Monitor Statistics (formed by the UN along with other associations such as the International Solid Waste Association, International Telecommunication Union, and UN Environment Programme), 53.6 million metric tons of electronic waste was generated in the year 2019, which has been anticipated to increase to 74 million metric tons by 2030. The increased generation of electronic waste has resulted in the high growth of the ITAD market.

Data theft is among the significant factors that have been decelerating the market's growth, owing to the secretive nature of the data handled by government agencies. However, many companies in the IT asset disposition market have been coming up with facilities for IT asset disposition, with special care taken towards data destruction, enabling the market to get back on track in terms of growth. For instance, in October 2022, NCS Global Services LLC (a U.S.-based IT asset disposition company) opened a new IT asset disposition facility in Los Angeles to cater to demand among West Coast customers. The facility is NAID AAA and ISO standards certified.

Gather more insights about the market drivers, restrains and growth of the IT Asset Disposition   Market

The company offers asset recovery, data destruction, and lifecycle management services. The presence of companies in the ITAD market that comply with various regulatory standards enables fewer chances of data theft, resulting in broader adoption of ITAD services among various businesses and government organizations. The wider adoption is expected to accelerate the growth of the market over the forecast period.

North America is home to major companies in the ITAD market, including Apto Solutions Inc.; CompuCom Systems, Inc.; Dell Inc.; and Hewlett Packard Enterprise Development LP. The significant presence of such companies in the region has resulted in the higher adoption of ITAD services among businesses and government organizations. The high demand for ITAD solutions has resulted in several companies opening new facilities in the region. For instance, in January 2023, ERI (a U.S.-based ITAD solution provider) opened its new ITAD and electronic recycling facility in the U.S. state of Arizona. This new facility is the company’s 13th operational location and 9th full-scale recycling unit.

Key players engage in strategic partnerships to offer a better solution to gain traction in the market. The strategic initiatives include alliances, collaboration, and acquisitions. For instance, in May 2022, Vyta Ltd. (an Irish IT recycling company) announced the acquisition of FGD Solutions Ltd. (a U.K.-based IT asset disposal company), post an investment from MML Growth Capital Partners Ireland (MML) of EUR 11 million. After the acquisition, FGD Solutions Ltd. rebranded under Vyta Ltd.

Similarly, in February 2022, Quantum Lifecycle Partners (a Canada-based ITAD provider) announced the acquisition of Ontario-based ITAD companies REfficient and TechReset. The acquisition would enable Quantum Lifecycle Partners to capture a broader ITAD market in the North and Latin America region. Such initiatives from ITAD companies are expected to positively impact the industry growth over the forecast period.

The high cost of ITAD solutions is among the significant factors derailing the growth of the IT asset disposition industry over the forecast period. Moreover, the need for greater awareness among various companies regarding disposing of IT assets has been another aspect troubling the market. For instance, in September 2022, the SEC (Securities and Exchange Commission) fined Morgan Stanley Smith Barney USD 35 million for improper disposal of devices that contained customer Persona Identifying Information.

Although various businesses have been less responsible in properly disposing of their IT assets containing customer information, strict actions taken by various government organizations are expected to continue. It is likely to impact the market growth positively.

Browse through Grand View Research's IT Services Applications Industry Research Reports.

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IT Asset Disposition Market Segmentation

Grand View Research has segmented the global IT asset disposition market based on asset type, end-use, and region:

IT Asset Disposition Asset Type Outlook (Revenue; USD Billion, 2018 - 2030)

• Computers/Laptops
• Smartphones and Tablets
• Peripherals
• Storages
• Servers
• Others

IT Asset Disposition End-use Outlook (Revenue; USD Billion, 2018 - 2030)

• BFSI
• IT Telecom
• Government
• Energy and Utilities
• Healthcare
• Media and Entertainment
• Others

IT Asset Disposition Regional Outlook (Revenue; USD Billion, 2018 - 2030)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Singapore
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East Africa
  • UAE
  • Saudi Arabia
  • South Africa

Key Companies profiled:

• Apto Solutions Inc.
• CompuCom Systems, Inc.
• Dell Inc.
• Hewlett Packard Enterprise Development LP
• IBM Corporation
• Ingram Micro Services
• Iron Mountain
• ITRenew
• LifeSpan International Inc.
• Sims Lifecycle Services, Inc.

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