Published Date: 23-Sep-2022
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According to a new report, published by KBV research, The Global IT Asset Disposition Market size is expected to reach $23.8 billion by 2028, rising at a market growth of 8.5% CAGR during the forecast period.
The Mobile Devices segment is showcasing a CAGR of 8.8% during (2022 - 2028). Once a smartphone has some damage, it gets discarded and dumped in landfills. However, if it is repaired and sold, it will have had an opportunity to live. Any smartphone that has even a few dings or scrapes on it should never be discarded because it is extremely harmful to the environment.
The Data Destruction/Data Sanitation segment acquired maximum revenue share in the Global IT Asset Disposition Market by Service in 2021 thereby, achieving a market value of $9.9 billion by 2028. Due to the growing requirement for the correct disposal of IT assets and the danger of sensitive data contained in outdated assets being compromised. Data and information security are essential for any business.
The Small & Medium-sized Enterprises segment has shown the growth rate of 10.1% during (2022 - 2028). It is because it offers dependable processes and logistics, safe locations, and scalable infrastructure to guarantee enterprises in the regulated and unregulated private sectors the highest level of comfort, reliability, security, and value. Emphasis is placed on recycling e-waste to prolong the life of electronics and prevent their disposal in landfills.
The BFSI segment is leading the Global IT Asset Disposition Market by End User in 2021 thereby, achieving a market value of $5.3 billion by 2028. It is because the BFSI sector is home to highly protected and private data, including consumer and corporate account information and personal information. The main danger that this industry faces is a data breach because the devices may hold both private company information and sensitive client data, like social security numbers, banking information, and pay stubs.
The North America market dominated the Global IT Asset Disposition Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $8.7 billion by 2028. The Europe market is exhibiting a CAGR of 8.1% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Sims Limited, Iron Mountain Incorporated, 3Step IT Group Oy, Dell Technologies, Inc., Hewlett-Packard enterprise Company, IBM Corporation, TES – Sustainable Technology Lifecycle Solutions, Apto Solutions, Inc., LifeSpan International, Inc. (Bluum Technology), and CompuCom Systems, Inc. (Variant Equity Advisors).
By Asset Type
By Organization Size
By End User
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