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From GlobeNewswire: 2024-10-24 09:00:00

The IT Asset Disposition Market was valued at USD 18.4 billion in 2023 and is projected to reach USD 40.9 billion by 2032, growing at a CAGR of 9.3%. Organizations prioritize data security and compliance with regulations, driving the demand for ITAD services encompassing data sanitization, refurbishment, and recycling.

Data sanitization and destruction services dominated the ITAD market in 2023, driven by the need to mitigate data breaches. Companies are investing in secure ITAD solutions to ensure data is irretrievably erased and reduce electronic waste, contributing to sustainable practices in business operations.

The IT and telecom industry emerged as the dominant end-use sector in the ITAD market in 2023, driven by technological advancements and high turnover rates of IT equipment. Healthcare and finance industries are also recognizing the importance of effective ITAD strategies to safeguard sensitive data and comply with regulations.

North America held the leading share in the ITAD market in 2023, followed by the Asia-Pacific region experiencing the highest growth rate. Europe is also witnessing significant growth due to stringent data protection regulations and a focus on sustainability. Major players in the ITAD market include Sims Lifecycle Services, Iron Mountain, and Dell Technologies.

Recent developments in the ITAD market include partnerships to enhance data sanitization capabilities, introduction of AI-driven platforms for asset tracking, and initiatives to reduce electronic waste through refurbishment and resale of IT assets. Companies are focusing on sustainability and compliance with industry standards in their IT asset disposition processes.



Read more at GlobeNewswire: IT Asset Disposition (ITAD) Market to Reach USD 40.9