As per the current market research conducted by the CMI Team, the US IT Asset Disposition Market is expected to record a CAGR of 6.2% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 2.66 Billion. By 2032, the valuation is anticipated to reach USD 4.90 Billion.
US IT Asset Disposition Market: Growth Factors and Dynamics
- Increase in BYOD trend in the US and rising adoption of cloud computing: The increasing adoption of cloud computing and BYOD trend in the US companies is a significant catalyst for the growth of the ITAD market. Cloud computing helps businesses to conveniently access IT resources whenever necessary, thereby diminishing the requirement for on-site IT assets. Likewise, BYOD empowers employees to utilize their personal devices for work purposes, further decreasing the necessity for on-site IT assets.
- Increasing awareness of data security and privacy: Businesses are increasingly concerned about the security of their data, and they are looking for ways to dispose of old IT assets in a secure manner. ITAD providers offer a variety of services that help businesses securely dispose of their old IT assets.
- US Government Regulations: Stringent regulations by the US government on e-waste management are also driving the growth of the ITAD market. The government of the US is enacting regulations that require businesses to properly dispose of their e-waste. ITAD providers offer a variety of services that help businesses to comply with these regulations.
- Need for refurbished IT assets in the US: Refurbished IT assets are typically much cheaper than new IT assets, and they offer the same level of performance. Businesses in the US are increasingly looking for ways to save money, and they are turning to refurbished IT assets as a way to do so.
|Feature of the Report
|Market Size in 2023
|USD 2.86 Billion
|Projected Market Size in 2032
|USD 4.90 Billion
|Market Size in 2022
|USD 2.66 Billion
|CAGR Growth Rate
|By Asset Type, Service Type and Region
|Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
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US IT Asset Disposition Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the US IT Asset Disposition Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Disrupted supply chains: The pandemic disrupted supply chains across the country, leading to delays in the delivery of manufacturing equipment, and finished products. Restrictions on manufacturing, transportation, and logistics have led to delays in equipment disposal and recycling processes. This has impacted the production capacity of manufacturers and retailers, resulting in reduced sales and revenue.
- Increased Remote Workforce in the US: COVID-19 has forced many US companies to shift to work from home models. As a result, there has been an increase in demand for IT equipment, such as laptops and peripherals, to support remote work setups. This increased demand for IT assets has created a need for proper ITAD services to manage the disposal of old or outdated equipment.
- Increase in online sales: With social distancing measures in place, there has been a surge in online sales of IT equipment, such as laptops and peripherals, as more consumers prefer to shop from the safety of their homes. This has increased the demand for IATDD services and provided a new opportunity for manufacturers and retailers to expand their online presence and reach out to new customers.
- Shift Towards Sustainable Practices: The COVID-19 has highlighted the importance of environmental sustainability. Businesses are increasingly seeking ITAD services that prioritize eco-friendly practices, such as recycling and responsible disposal of electronic waste in an eco-friendly manner. This trend is expected to drive the adoption of ITAD services that align with sustainability goals.
In conclusion, the COVID-19 pandemic has had a mixed impact on the US IT Asset Disposition Market, with some challenges and opportunities arising from the pandemic. It has underscored the importance of secure data destruction, efficient supply chain management, and sustainable practices in ITAD operations.
List of the prominent players in the US IT Asset Disposition Market:
- Dell Technologies
- Arrow Electronics
- Sims Limited
- Iron Mountain Incorporated
- Apto Solutions
- Cascade Asset Management
- Wisetek Solutions
- HOBI International
- Ingram Micro ITAD
The US IT Asset Disposition Market is segmented as follows:
By Asset Type
- Mobile Devices
- Storage Devices
By Service Type
- De-Manufacturing & Recycling
- Remarketing & Value Recovery
- Data Destruction/Data Sanitation
- Logistics Management & Reverse Logistics
- Northeast Region
- West Coast
- Mid West
On the basis of US Geography
- Northeast Region
- Southeast Region
- Midwest Region
- West Coast Region
- Southwest Region
- Mountain States