The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The data center IT asset disposition (ITAD) market has been experiencing strong growth, driven by various factors. This blog delves into the current state and future prospects of this burgeoning market.

Recent Market Growth

Impressive Market Expansion

• Market Size: The data center ITAD market grew from $12.42 billion in 2023 to $13.49 billion in 2024, with a CAGR of 8.6%.
• Key Drivers:
  • Regulatory Compliance: Adhering to regulations mandates proper disposal of IT assets.
  • Technology Obsolescence: Rapid technological advancements make older equipment redundant.
  • Data Security Concerns: Protecting sensitive data during disposal is crucial.
  • Cost Reduction Initiatives: Efficient ITAD processes can reduce overall costs.
  • Environmental Sustainability: Emphasis on eco-friendly disposal methods.

Future Market Outlook

Strong Forecasted Growth

• Projected Market Size: Expected to reach $18.91 billion by 2028, with a CAGR of 8.8%.
• Growth Drivers:
  • Electronic Waste Management: Increasing demand for managing e-waste effectively.
  • Data Security and Regulatory Compliance: Enhanced focus on securing data and complying with regulations.
  • Circular Economy Practices: Emphasis on reusing and recycling IT assets.
  • Expanding Data Center Infrastructure: Growth of data centers globally boosts ITAD demand.

View More On The Data Center IT Asset Disposition Market Report 2024 – https://www.thebusinessresearchcompany.com/report/data-center-it-asset-disposition-global-market-report

Key Trends Shaping the Market

Emerging Trends

• Secure Data Erasure Solutions: Advanced methods to ensure complete data removal from decommissioned assets.
• Asset Tracking and Management Technologies: Improved tracking systems for better asset management.
• Specialized ITAD Firms: Growth of firms specializing in IT asset disposal.
• Regulatory Compliance Expansion: Stricter regulations necessitating comprehensive ITAD processes.

Cyberattacks Driving ITAD Growth

Importance of ITAD in Cybersecurity

• Rising Cyberattacks: Increasing frequency of cyberattacks highlights the need for secure IT asset disposal.
• Key Statistics: In Q1 2023, global weekly cyberattacks rose by 7%, with each organization facing an average of 1,248 attacks per week.
• Security Measures:
  • Data Breach Prevention: Proper ITAD prevents sensitive data breaches.
  • Mitigating Insider Threats: Secure disposal mitigates risks from internal sources.
  • Supply Chain Protection: Ensures that decommissioned assets don’t pose a risk.
  • Regulatory Compliance: Meets data protection regulations during asset disposal.

Major Players in the Market

Leading Companies

The market features prominent players such as:

• Dell Inc.
• IBM Corporation
• Arrow Electronics Inc.
• Hewlett Packard Enterprise (HPE)
• Iron Mountain Incorporated
• Sims Recycling Solutions
• Procurri Corporation
• ITRenew Inc.
• Quantum Lifecycle Partners
• TES-AMM Pte Ltd.

Innovations in ITAD

Innovative Solutions

• IT Asset Repurposing and Disposal:
  • TES Launch: In March 2024, TES launched a facility for refurbishing and recycling IT assets.
  • Focus: Preventing rare metals from reaching landfills and ensuring secure data removal.

Acquisition Strategies

• Iron Mountain Inc. and Regency Technologies:
  • Acquisition Details: In January 2024, Iron Mountain acquired Regency Technologies.
  • Objective: Enhance asset lifecycle management services and promote environmental sustainability.

Market Segmentation

Diverse Market Segments

• By Product: Servers, Memory Modules, Hard Disk Drive, CPUs, and more.
• By Organization Size: Small and Medium Enterprises, Large Enterprises.
• By Application: Data Sanitation/Destruction, Remarketing/Resale, Recycling.
• By End Users: Enterprises, Cloud Service Providers, Colocation Providers.

Regional Insights

Geographic Focus

• North America: Largest market in 2023.
• Asia-Pacific: Expected to be the fastest-growing region in the forecast period.

In conclusion, the data center ITAD market is on a robust growth trajectory, driven by regulatory requirements, technological advancements, and the need for secure data disposal. As cyberattacks become more prevalent, the importance of effective IT asset disposition cannot be overstated. With innovations and strategic acquisitions, the market is set to expand significantly, offering ample opportunities for growth and sustainability.

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The Data Center IT Asset Disposition Global Market Report 2024  provides comprehensive insights on the data center IT asset disposition market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the data center IT asset disposition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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