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The market for disposing of IT assets is estimated to register a CAGR of 7.4% from 2022 to 2032. The market for disposing of IT assets is predicted to grow from US$ 15.6 billion in 2022 to US$ 31.8 billion in 2032. The industry saw a Y-o-Y gain of 7.6% from 2021 to 2022.
“A key driver of market expansion during the analysis period is the increase in demand for data and information security in aged assets.”
Factors include the necessity to store assets in inventory for resale, the desire to maximise asset value recovery, and the rising use of electronic devices like mobile phones, laptops, and tablets for business usage are likely to boost market expansion over the forecast period.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.
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Important conclusions from the market study
According to an FMI researcher, “the growing necessity for data and information security in aged assets is a crucial element fueling the market expansion during the analysis period.”
Competitive Landscape
Players in the global IT Asset Disposition Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:
· In August 2020, CompuCom (US) and Office Depot (US) partnered to provide a suite of IT hardware and service offerings for small and mid-sized businesses to support their remote workplaces. Companies with between 50 and 1,500 users can access a range of services, including remote IT support, on-site hardware and software repair, and eco-friendly disposal of IT equipment.
· In February 2020, Dell Technologies (US) entered an agreement with Symphony Technology Group (STG), Ontario Teachers’ Pension Plan Board (Ontario Teachers’), and AlpInvest Partners (AlpInvest) to acquire RSA. RSA provides risk, security, and fraud teams with the ability to holistically manage digital risk, including threat detection and response, identity and access management, integrated risk management and omnichannel fraud prevention.
· In July 2019, TES (Singapore) acquired Integrations et Services (I&S) (France), a leading provider of configuration to order, staging, and IT deployment services across France and mainland Europe, to deliver integrated end-to-end IT lifecycle solutions while also helping its clients manage the complexities and risks that are inherent in them.
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Key Players
Key Segments Covered in the IT Asset Disposition Market Study
IT Asset Disposition by Service
IT Asset Disposition by Asset Type
IT Asset Disposition by Organization Size
IT Asset Disposition by End User
IT Asset Disposition by Region
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The post Global Asset Disposition Market to be spearheaded by Servers Disposition, flourishing at a 7.4% CAGR, forecasts FMI appeared first on Future Market Insights.