Global ITAD Market to Witness Notable Revenue Surge

The growing impetus on environmental regulations and sustainability initiatives by various governments too has been a major driver.

SEATTLE (Scrap Monster): The latest market study report by Polaris Market Research suggests that global IT asset disposition (ITAD) market is projected to witness notable surge in revenue growth by 2032.

The market size and share of the market is currently valued at $16,828.37 million. The market is anticipated to generate an estimated revenue of $32,355.70 million by 2032. The Compound Annual Growth Rate (CAGR) of the market over the forecast period is estimated at around 8.5%, the report said.

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The increasing awareness among consumers on the importance of efficient IT asset disposal will act as the major driving force behind the market expansion. The demand for IT asset disposition services has increased significantly after the Covid-19 pandemic. The frequent upgrades and replacements of IT equipment by businesses as well as individuals has boosted the supply of discarded assets. The growing impetus on environmental regulations and sustainability initiatives by various governments too has been a major driver.

In 2023, the Asia-Pacific region had emerged as the global market leader. The region is predicted to dominate the global ITAD market during the forecast period, especially on account of stringent regulations on disposal of electronic waste implemented by various Asian countries.

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