IT Asset Disposition Market Size Worth $54,535.4 Million By 2030

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However, the market faces challenges, particularly due to concerns surrounding data theft. The sensitive nature of the information managed by government agencies and other organizations has impeded market growth,

The global IT asset disposition (ITAD) market was valued at approximately USD 20,513.0 million in 2022 and is projected to experience substantial growth, with an anticipated compound annual growth rate (CAGR) of 13.3% from 2023 to 2030. A significant factor driving this growth is the rising volume of electronic waste (e-waste) generated worldwide. According to the Global E-waste Monitor Statistics—developed by the United Nations in collaboration with organizations such as the International Solid Waste Association, the International Telecommunication Union, and the UN Environment Programme—approximately 53.6 million metric tons of e-waste were produced in 2019, with projections estimating this figure will soar to 74 million metric tons by 2030. This escalating generation of e-waste is a primary catalyst for the expansion of the ITAD market.

 

However, the market faces challenges, particularly due to concerns surrounding data theft. The sensitive nature of the information managed by government agencies and other organizations has impeded market growth, as there is heightened vigilance around data security. In response to these challenges, many companies within the IT asset disposition sector are enhancing their facilities and services focused on secure IT asset disposition, with an emphasis on data destruction. A notable example is NCS Global Services LLC, a U.S.-based ITAD company that opened a new facility in Los Angeles in October 2022. This facility is certified under NAID AAA and ISO standards, demonstrating a commitment to high-quality data protection and disposal practices, thereby helping the market regain momentum.

 

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

 

End-use Segmentation Insights

 

In terms of end-use segments, the IT telecom sector is expected to capture the largest revenue share by 2030. The telecommunications industry has experienced significant growth, particularly due to the increasing number of internet users. For instance, data from The World Bank Group indicates that in 2021, 91% of Germany's population and an impressive 99% of Denmark's population accessed the internet.

 

This surge in internet usage has escalated the demand for various IT assets, including switches, telecom towers, routers, and fiber optic cables, among others. Consequently, the heightened reliance on IT infrastructure has also led to increased electronic waste, further propelling the growth of the IT telecom segment within the ITAD market.

 

On the other hand, the media and entertainment sector is projected to witness the highest CAGR from 2023 to 2030. This growth can be attributed to the rising consumption of content from major media companies. Platforms like Netflix and Amazon have increasingly relied on cloud services to deliver their offerings, which has driven the expansion of data centers. As the number of data centers grows, so too does the utilization of services and storage devices, ultimately resulting in higher volumes of e-waste generated by these facilities. The increased content consumption and the expansion of media companies into underserved markets have amplified the amount of electronic waste produced, fostering growth in the media and entertainment segment.

 

Additionally, the healthcare sector is expected to see substantial growth over the forecast period. IT asset disposition solutions are increasingly being adopted in healthcare settings such as hospitals, clinics, and other medical institutions. The Health Insurance Portability and Accountability Act (HIPAA) security rule necessitates the protection of electronically protected health information (ePHI) through appropriate physical, administrative, and technical safeguards. As healthcare organizations strive to comply with these regulations, the demand for secure ITAD solutions will likely continue to rise, contributing to the overall expansion of the market.

 

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