ITAD Market Expected to Reach 18.18 Billion US-Dollar

According to a new market report*) published by Transparency Market Research, the IT Asset Disposition (ITAD) Market is expected to reach a value of 18.18 billion US-Dollar by 2024, rising from 9.89 billion US-Dollar in 2015.

The market is estimated to expand at a CAGR (compound annual growth rate) of 7.1 percent from 2016 to 2024. Asia Pacific is expected to observe the fastest growth during the forecast period, followed by the Middle East, Africa and Latin America.

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Rapid changes in technology have resulted in the reduction of the life cycle of IT equipment. Organizations need to upgrade equipment to remain competitive in the market. This leads to the generation of a large amount of discarded IT assets, worldwide. ITAD ensures safe disposal of these assets. “This is one of the key factors driving the ITAD market around the globe,” the market researchers underlined. “Another important factor fueling the market‘s growth is the growing demand for used computers, mobile devices, and other electronic equipment from educational institutions, small-scale enterprises, and individual customers, as this equipment is readily available at low prices.” According to Transparency Market Research, ITAD service providers are seeking to expand globally and hence are entering into various partnerships to execute IT asset disposal efficiently. The introduction of automation in ITAD helps service providers keep a record of every asset in an enterprise and helps asset managers to plan strategy for asset disposition. This is another factor likely to boost the market‘s growth in the near future.
*) “IT Asset Disposition Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”