Global ITAD Market to Touch $31 Billion by 2032

SEATTLE (Scrap Monster): The latest research study by Global Market Insights Inc. predicts the global IT asset disposition market to touch USD 31 billion. The projected market demand will be mainly driven by the increased implementation of strict environmental regulations and e-waste management laws and rising awareness among companies on the need for responsible recycling of IT assets.

ALSO READ:

ERI Leads NCSL Debate on ITAD and E-Waste Recycling

Sunnking's Reycling Process Featured in Smithsonian Museum Exhibit

According to the report, the SMEs segment accounted for a major share of the ITAD market during the previous year. The ongoing expansion and upgradation of IT assets will further drive the demand for specialized ITAD service providers.

Based on asset type, the ITAD disposition market from the smartphones and tablets is likely to exhibit robust growth during the forecast period. Among regions, Asia-Pacific’s IT asset disposition market is expected to surpass $8.7 billion by 2032, driven by rapid economic development and penetration of digital transactions, mainly in China and India.

The report also noted that the major IT asset disposition market participants include IBM Corporation, Iron Mountain Incorporated, Exit Technologies, Sims Recycling Ltd., Technimove, Dell Inc., Hewlett Packard Enterprise Development LP, Arrow Electronics, TES-AMM Pte Ltd., and LifeSpan International.