IT Asset Disposition Market Size to be Worth US$31.8 Billion by 2032

SEATTLE (Scrap Monster): According to a recent study done by Future Market Insights, the IT asset disposition market is expected to reach US$ 31.8 Billion by 2032, up from US$ 15.6 Billion in 2022, expanding at a high CAGR of 7.4%.

This study explains that factors such as the strict data security compliance with environmental regulations, need to store assets in inventory for remarketing, the need to maximize asset value recovery, and the growing usage of electronic devices such as mobiles, laptops, and tablets for enterprise usage are expected to accelerate the market growth during the forecast period.

The major factor that is expected to propel the growth of the IT Asset Disposition Market during the forecast period includes the awareness of conserving the environment. In addition, the IT asset disposition market has been witnessing significant growth over the past years, mainly owing to regulatory compliances, and the growing need to prevent data breaches.

The market is further driven by the vast amounts of e-waste, the need for safe methods of disposing of e-waste, and environmental policies which are followed by industries. The surging adoption of new technologies and BYOD trend is also expected to considerably boost the IT asset disposition market in the coming years.

Moreover, the increase in need for data and information security in old assets acts as one of the major factors fueling the growth of IT asset disposition market during the forecast period.

Key Takeaways from the Market Study

-Global IT asset disposition market to be valued at US$ 15.6 Bn by 2022-end

-The U.S to account for the highest value share of US$ 11.4 Bn of global market demand for IT Asset Disposition Market in 2032

-From 2015 to 2021, IT Asset Disposition demand expanded at a CAGR of 8.1%

-By asset type, the servers category constitutes the bulk of IT asset disposition market with a CAGR of 7.1%.

 Courtesy: www.fmiblog.com