SAN FRANCISCO, Jan. 16, 2020 /PRNewswire/ -- The global IT asset disposition market size is anticipated to reach USD 27.9 billion by 2025 and register a CAGR of 10.8%, according to a study conducted by Grand View Research, Inc. Increasing use of electronic devices and growing need among enterprises to dispose their IT assets efficiently are the major factors driving the market. In addition, rising awareness regarding the benefits associated with proper disposition of assets is expected to boost the demand in the coming years.

Key suggestions from the report:

• The mobile device segment is expected to register a CAGR of more than 11% due to penetration of smartphones, especially in developing economies
• Asia Pacific is expected to witness substantial growth during the forecast period owing to positive outlook of the already established IT industry in the region
• The IT asset disposition market is highly fragmented with the presence of large number of service providers. Some of the leading service providers in the ITAD market are CloudBlue Technologies Inc.; Arrow Electronics Inc.; Dataserv Group; Dell Inc.; LifeSpan International; Ingram Micro; Hewlett Packard Enterprise Development LP; and Sims Recycling Ltd.
• Players are focusing on partnerships, acquisitions and mergers, and service portfolio expansion in order to strengthen their market presence. For instance, in June 2018, Sims Recycling Solutions (SRS) extended its hardware processing lines in the Netherlands and made further developments with respect to metal and plastic separation technologies.

Read 90 page research report with ToC on "IT Asset Disposition Market Size, Share & Trends Analysis Report By Asset Type (Computers/Laptops, Mobile Devices), By End Use (BFSI, IT & Telecom), By Region, And Segment Forecasts, 2019 - 2025'' at: https://www.grandviewresearch.com/industry-analysis/it-asset-disposition-market

Furthermore, on-going paradigm shift from housing IT infrastructure on-premise to deploying cloud-based services has necessitated businesses to dispose majority of their existing IT hardware. At the same time, the imminent need to secure data/information while disposing old assets has prompted businesses to prefer ITAD programs and services.

Over the last few years, the demand for IT asset disposition services has witnessed strong growth with business organizations emphasizing on limiting their carbon footprints. The market is poised to register strong growth in the coming years owing to growing awareness regarding the need to reduce the environmental threats created by e-waste and the prevailing dynamic regulatory landscape worldwide. With regulations in place and high penalties for defaulters, enterprises are increasingly availing services of ITAD vendors to dispose their assets as per the set standards.

Enterprises are leveraging services of third-party ITAD vendors for data sanitization, recycling and component recovery, and onsite hard drive destruction. They are focusing on reducing the inventory cost associated with obsolete hardware by opting for an efficient ITAD program offering any of the above-mentioned services. ITAD service providers are focusing on attaining the highest level of certifications such as eSteward and Responsible Recycling (R2) to get recognition and strengthen their market presence.

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

• IT Asset Disposition (ITAD) Asset Type Outlook (Revenue, USD Billion, 2015 - 2025)
• Computers/Laptops
• Smartphones and Tablets
• Peripherals
• Storages
• Servers
• Others
• IT Asset Disposition (ITAD) End-use Outlook (Revenue, USD Billion, 2015 - 2025)
• BFSI
• IT & Telecom
• Government
• Energy and Utilities
• Healthcare
• Media and Entertainment
• Others
• IT Asset Disposition (ITAD) Regional Outlook (Revenue, USD Billion, 2015 - 2025)
• North America
• U.S.
• Canada
• Europe
• U.K.
• France
• Germany
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East and Africa

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.