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IT Asset Disposition (ITAD) Market Size
- Report ID: GMI6549
- Published Date: Aug 2024
- Report Format: PDF
IT Asset Disposition Market Size
IT Asset Disposition Market size was valued at USD 15.4 billion in 2023 and is expected to grow at over 8% CAGR between 2024 and 2032, owing to the growing presence of stringent regulations regarding the disposal and recycling of electronic waste (e-waste). For instance, organizations must comply with laws such as the WEEE Directive in Europe and the E-Waste (Management) Amendment Rules, 2018 in India.
According to E-Waste Amendment Rules in India, all organizations should forward 70% of their generated e-waste to the recycling or dismantling centre. In case an organization is unable to meet the above requirements, it should stop manufacturing electronic items and it can start manufacturing again only after the conditions are met.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| IT Asset Disposition Market Size in 2023: | USD 15.4 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 8% |
| 2032 Value Projection: | USD 31.9 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 220 |
| Tables, Charts & Figures: | 300 |
| Segments covered: | Asset type, Services, Enterprise size, Industry Vertical |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Moreover, data breaches are becoming more common and costly, which has increased the demand for ITAD services the need to protect sensitive information and avoid legal repercussions. According to the 17th annual Data Breach Investigations Report (DBIR) 2024, published by Verizon Business, the company analysed over 8,300 security incidents in EMEA, of which over 70% are confirmed breaches.
ITAD services offer expertise in secure data destruction, ensuring that sensitive information is completely wiped from retired IT assets. Furthermore, laws including the GDPR in Europe and the CCPA in California mandate secure data destruction practices, ensuring sensitive information is not compromised during asset disposition. This further contributes to the growth of the market.
Inadequate resources for recycling can significantly impact the effectiveness and efficiency of IT asset disposition (ITAD) market. In developing countries, there is a lack of advanced recycling facilities capable of processing various types of electronic waste (e-waste). This limits the ability to recycle components and materials effectively. Furthermore, existing recycling facilities may use outdated technology that is less efficient in recovering valuable materials and may not meet modern environmental standards. Investments in specialized recycling facilities and raising awareness about responsible e-waste management is required to address these challenges.
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IT Asset Disposition Market Scope
