Northbrook, IL 60062 -- (SBWIRE) -- 08/03/2022 -- The IT asset disposition market size is valued at USD 15.5 billion in 2022 and is anticipated to USD 23.5 billion by 2027; growing at a CAGR of 8.7% from 2022 to 2027. Sift towards energy-efficient products and need for data and information security are expected to boost the market during the forecast period.
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IT asset disposition market based on service has been segmented into De-manufacturing &Recycling, Remarketing & Value Recovery, Data Destruction/ Data Sanitization, Logistics Management & Reverse Logistics and Other Services. The data destruction/data sanitization service segment is expected to continue to account for the largest size of the IT asset disposition market during the forecast period. The growing need for the proper disposal of IT assets and the risk of important information stored in old assets getting leaked are fueling the demand for data destruction/data sanitization services.
The IT asset disposition market has been segmented on the basis of asset type. Based on asset type the market has been fragmented into Computers/Laptops, Servers, Mobile Devices, Storage Devices, and Peripherals. In 2021, the computers/laptops segment accounted for the largest share of the IT asset disposition market. The servers segment is expected to grow at the highest CAGR during the forecast period. In the current scenario, IT departments are still highly dependent on PCs and laptops for most employees.
The IT asset disposition market based on organization is classified into Small and Medium-sized Enterprises and Large Enterprises. The large enterprises segment is expected to continue holding the larger share of the IT asset disposition market during the forecast period. IT asset disposition adoption rates are considerably higher for multinational and large companies with more than 10,000 workers. Additionally, many smaller businesses with less than 100 workers do not use external IT disposal services. This trend is expected to change in the near future as IT asset disposition providers are developing and marketing their services to small and medium-sized businesses.
The IT asset disposition market based on end users has been segmented into Banking, Financial Services & Insurance (BFSI), IT & Telecom, Education, Healthcare, Aerospace & Defense, Public Sector & Government Offices, Manufacturing, Media & Entertainment and Others (energy and utilities, construction, retail, and logistics and transportation industries). Technological advancements and increase in demand for large storage devices have generated high demand for media and entertainment services. The demand for computers/laptops has increased rapidly due to the rising trend of working from home.
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North America dominated the IT asset disposition market and is expected to maintain this position through the forecast period. Due to the region's high spending power and presence of a large number of IT asset disposition service providers in the region, North America is expected to hold the largest market size during the forecast period.