World ITAD Market Growing at CAGR of 10.8%

SEATTLE (Scrap Monster):  The recent study report published by Trusted Business Insights foresees 10.8% CAGR growth to global IT Asset Disposition (ITAD) market over the period from 2019 to 2030. It must be noted that the market was valued at $13.7 billion in 2018.

According to the study, the ever-increasing demand for consumer electronics along with increased awareness among consumers on the need for safe and efficient disposition of IT assets is seen driving the demand for ITAD services. The ITAD market growth is further triggered by regulations by various countries that mandates disposition of IT assets in secure and environmentally compliant manner.

By type, the computers and laptop segment is likely to record highest growth, followed by smartphones and tablets segment. The penetration of mobile phones in the coming years and technological advancements is likely to result in obsolescence of huge volume of existing assets.

Asia Pacific region is predicted to witness a CAGR growth of over 12% during the period under consideration. Among countries in the region, Japan, China and India are likely to emerge as leaders in ITAD service market.

The key players operating in ITAD market include Hewlett Packard Enterprise Development LP, ITRenew Inc., TES-AMM Pte Ltd., Sims Recycling Ltd. and Ingram Micro among others.

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