The Global IT Asset disposition is becoming a problem for all the IT-enabled companies, big and small. Their proper disposal is necessary for legal compliance. Due to this, the demand for the companies offering ITAD as their primary service is having good growth in the Industry.
As per a recent survey, it is found that the ITAD companies are seeing a CAGR of 10.8% on a global level. A recent study conducted by Grand View Research, Inc has found that that the:
Market size for ITAD companies is experiencing exponential growth & is poised to reach USD 27.9 Billion by 2025.
Other than these insightful statistics, the below-mentioned reasons will help you to understand the importance of ITAD service providers for your business and what you should look for in an ideal ITAD service provider.
Many factors contribute to this high rate of growth. The fast-changing IT environment, the swift introduction of new technologies is among the main reasons. The IT-enabled companies find their current IT assets obsolete and are forced to dispose of them even before they reach their end of a lifetime.
Moreover, we find that there are a variety of electronic devices in a connected global environment that is making traditional IT equipment obsolete so often. The increased migration to cloud-based systems is also making the IT disposal a must for all the companies that are maintaining a considerable amount of IT infrastructure.
The law relating to data security, e-waste management is becoming stricter by the day. The awareness to save the environment from the hazards of unscientific disposal of electronic waste is also contributing more to the emergence of companies offering proper disposal of IT assets as their main service.
The difficulty faced by the companies in dedicating men and resources necessary for the follow-up, destruction, and securing the data contained in the IT assets requires specialized service providers that guarantee the highest possible data security and scientific and prudent disposal of the IT assets.
The quantity of IT assets that become obsolete and coming for early disposal is growing day by day as smartphones have penetrated deep into the lives of the people. Today’s smartphones have become more versatile and are capable of doing many functions that were hitherto done by desktop and laptop computers.
It is estimated that the CAGR of smartphones is at 11%, and they are finding more uses in the developing economies. The Asia Pacific region leads in the electronic proliferation, and due to the substantial growth of the IT industry, there is going to be more demand for ITAD services from this region.
Relevant Resource: Why Do Electronics Get Outdated So Fast?
It is a well-known fact that the ITAD market is still highly fragmented on a global level with a handful of big players. These large players are in the phase of consolidation in the market and entering into partnerships and mergers to penetrate the lucrative ITAD local markets. Many ITAD service providers are also acquiring local ITAD companies that have a wide service portfolio with a strong presence in the local market.
The growth of cloud-based services and the ability to migrate to the cloud has made large amounts of IT assets disposable at the same time, which the companies cannot handle without the help of resourceful ITAD Service providers.
Added to this is the necessity and compulsion to maintain a higher degree of data security and protection to the sensitive information contained in the IT assets that are to be disposed of also adds to the necessity of finding a reliable ITAD service provider to take charge of the ITAD functions of the companies.
Moreover, the awareness of environmental safety and attempts to reduce the carbon footprint has also made the ITAD service providers indispensable for the companies.
The ITAD service providers segregate the IT Assets that can be reused and find suitable buyers for them and help the companies get the least part of their IT assets value.
This process also prevents the unscientific way of recycling all the disposed IT assets and blindly dumping them in landfills. This also helps the companies to mitigate the environmental threat as well as to comply with the dynamic and rigorous global regulatory regime.
The increasing tendency of the Governments to penalize the violators and defaulters for improper disposal of IT assets is also leading to the spurt of growth of ITAD service providers. This is making their services more necessary for the proper compliance of the laws in existence.
Yet another factor that is boosting the services of the third party ITAD vendors is the necessity to perform certain essential functions like
during the ITAD process also adds more value to the services of a good ITAD company.
The desire of the companies to recover at least a part of the invoice value of the IT assets that are marked for disposal also needs the services of a reliable ITAD Company.
In addition to this, the ITAD companies are also putting their efforts into obtaining the highest possible certification for their services. This way, they benchmark their quality of services. This attracts the companies to make use of a good certified ITAD service provider to handle their ITAD processes.
Relevant Resource: How ITAD Services Can Help Your Company
In 2018, the asset performance Management market had a market size of USD 13, 237.85 million, and from 2019 to 2025, it is poised to grow with a CAGR of 9.15%.
As far as the Warehouse management services are concerned, the market size in 2017 was at USD 1.69 billion in 2017 and forecasted that it would grow with an annual CAGR of 16.0%.
Likewise, the Cable management Market had a market share of USD 14.26 billion in 2017 and is expected to have CAGR of 8.2%
Many other reasons also increase the demand for the services of an ITAD company, and they include
Most of the well-structured and experienced ITAD service companies have taken steps to get certified for a higher level of ITAD service offerings. The presence of the Globally acclaimed certifications like these shows their level and proficiency of the ITAD services:
They provide all the documentation necessary for tracking the goods, services they are doing to each one of them, certificates of destruction to certify that the assets are destroyed, wiped, or recycled as per their contract terms.
They take care of environmental protection by adopting greener ways of recycling the IT assets scientifically and safely with minimum to nil damage to the environment, assuring sustainability and continuity in the reuse and repurposing of the IT Assets that are taken by them for disposal.
The present-day ITAD companies resort to remarketing of the IT assets that have remaining residual life, which can be reused and repurposed after taking all the necessary actions to make them safe to be remarketed. This helps the companies to recover a part of the value for the disposed of assets.
Above all, your ITAD company partners with you to give the best form of service based on trust and reliability and helps you save your company from the hassles of data security, data wiping, and data destruction and help you with easy compliance of law and regulations.
They also help you reduce your carbon footprint and undertake to complete the entire ITAD functions on your behalf with minimum effort on your part.
Thus, your ITAD service provider is an indispensable part of your company, and exercise more care and caution while choosing the right one. Why don’t you connect with our resale experts today & let us help you get the best returns on your retired IT assets.
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