Cloud Computing Data Center IT Asset Disposition (ITAD) Market Size And Forecast

Cloud Computing Data Center IT Asset Disposition (ITAD) Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2024 to 2031.

The growing need for data migration, out of databases and onto the cloud, is contributing considerably to the rising disposition of IT infrastructure. Continuous technological improvements in the IT sector are diminishing the durability of existing IT assets, necessitating the purchase of new IT equipment and the disposal of old IT equipment. Compliance with government rules is critical in IT asset disposition and management services to ensure the safe handling of private data as well as harmful IT components found in outdated IT assets. The Global Cloud Computing Data Center report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Cloud Computing Data Center IT Asset Disposition (ITAD) Market Definition

IT asset disposal (ITAD) solutions assist many firms in recycling and destroying IT equipment in an ecologically responsible, dependable, and secure manner. Several enterprises throughout the world are progressively implementing ITAD solutions to limit the risk of data loss, manage IT equipment waste disposal, prevent eventual monetary loss, and cut expenses.

The IT sector’s revolution and technological advancements such as artificial intelligence (AI), cloud computing, the Internet of things (IoT), and big data analytics have required the need for IT asset disposal solutions to ensure data protection. Furthermore, the use of cloud computing in ITAD has boosted the process’s dependability. Global Cloud Computing Data Center IT Asset Disposition (ITAD) Market.

Global Cloud Computing Data Center IT Asset Disposition (ITAD) Market Overview

One of the key drivers of the IT Asset Disposition business has been the possibility of data breaches. Companies have been seeking effective strategies to prevent rising levels of piracy and data-based assaults. Unfortunately, many individuals are unaware that many data breaches occur as a result of discarded purportedly obsolete equipment. Organizations disregard data security while selling their IT assets. Secure data ends up somewhere in a warehouse, where anyone may take it and exploit it for malicious purposes.

Hard drives are not wiped, computers are not erased, and safe data is left in a warehouse where anybody may pick it up and use it for harmful reasons. ITAD services can assist in avoiding such scenarios and reduce risk by entirely erasing data from any disposed devices. The increasing adoption of regulatory compliances and environmental safety is predicted to propel the Cloud Computing Data Center IT Asset Disposition (ITAD) Market forward. Companies must re-evaluate their procedures for end-of-life management of IT equipment due to regulatory compliances such as NIST and HIPAA/HITECH. Many market participants lack the market power required to deal with the implementation of these rules.

Furthermore, not having a well-organized and secure plan in place for disposing of outdated IT equipment can lead to problems such as identity theft and fraud. As a result, a multitude of federal and state environmental and privacy standards control computer and electronics disposal, and failing to do so can result in audits and severe fines or penalties. According to the United Nations Environment Programme (UNEP), electronic rubbish, or e-waste, creates between 20 and 50 million metric tons of hazardous waste each year, with the need for new technology only increasing.

These projections put consumers and producers under pressure to create solutions that will help minimize the quantity of e-waste created in underdeveloped countries throughout the world. ITAD companies make it simple to buy and remove surplus IT equipment for safe disposal, recycling, or resale. They may also be in charge of decommissioning your data center in a safe manner. However, challenges such as lack of knowledge, high service costs, and the lack of comprehensive IT asset disposition rules are limiting market growth over the projection period.

Global Cloud Computing Data Center IT Asset Disposition (ITAD) Market: Segmentation Analysis

The Global Cloud Computing Data Center IT Asset Disposition (ITAD) Market is Segmented on the basis of Asset Type, Solution, And Geography.

Cloud Computing Data Center IT Asset Disposition (ITAD) Market, By Asset Type

• IT Equipment
• Server
• Storage Devices
• Network Gears
• Cables
• Racks
• Support Infrastructure
• Physical Security Systems
• Environmental Controls
• Uninterruptible Power Sources (UPS)

Based on Asset Type, The market is segmented into IT Equipment, Server, Storage Devices, Network Gears, Cables, Racks, Support Infrastructure, Physical Security Systems, Environmental Controls, and Uninterruptible Power Sources (UPS). Servers, CPUs, and SSD are likely to dominate the market by asset type throughout the forecast period, owing to the rising spread of cloud computing, the expanding number of data centers, and the growing number of big data applications.

Cloud Computing Data Center IT Asset Disposition (ITAD) Market, By Solution

• Data Sanitization
• Recovery (Reuse, Resale, and Remarketing)
• Recycling

Based on Solution, The market is segmented into Data Sanitization, Recovery (Reuse, Resale, and Remarketing), and Recycling. Due to increased compliance with data mining from various regulatory bodies, data cleaning and destruction is likely to keep the majority of the market share and expand at a substantial growth rate during the projection period.

Cloud Computing Data Center IT Asset Disposition (ITAD) Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, The Global Cloud Computing Data Center IT Asset Disposition (ITAD) Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is expected to lead the worldwide Cloud Computing Data Center IT Asset Disposition (ITAD) Market, followed by Europe and Asia-Pacific. North America’s supremacy is ascribed to government regulations that push enterprises to establish strategies for securely and correctly disposing of their IT assets. Europe is the world’s second-largest market for ITAD. Because of data security and law, the ITAD business in Europe is expanding. ITAD services are already popular in countries such as Germany, France, and the United Kingdom.

Key Players

The “Global Cloud Computing Data Center IT Asset Disposition (ITAD) Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as SAP Ariba, Arrow, Sims Recycling, IT Renew, DIGITAL REALTY, AMI, Apto Solutions, Iron Mountain, Delta Network Systems Hongkong Limited and CloudBlue.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• On 8 February 2022, Quantum Lifecycle Partners LP, Canada’s biggest supplier of IT Asset Disposition (ITAD) and Electronics Recycling, announced the acquisitions of REfficient and TechReset.

Report Scope

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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