E-Waste and Information Technology Asset Disposition (ITAD) Market Revenue, Key Players, Growth and Forecast Till 2028
June 23, 2022
Market Size – USD 59.23 Billion in 2020, Market Growth – at a CAGR of 8.6%, Market Trends – Implementation of stringent regulations
VANCOUVER, BC, CANADA, June 23, 2022 /EINPresswire.com/ -- The global E-waste and Information Technology Asset Disposition (ITAD) market size is expected to reach USD 115.06 Billion at a steady revenue CAGR of 8.6% in 2028, according to latest analysis by Emergen Research. E-waste and ITAD market revenue growth is driven by deployment of regulatory compliance and increased awareness regarding the adverse impact of E-waste on health and on the environment. In 2019, approximately 54 million metric tons of electronic waste was generated worldwide. E-waste contains 75% of environmentally hazardous waste found in landfills and less than 20% is recycled each year. Rising focus on more efficient management of E-waste and information technology asset disposition is expected to support market growth going ahead. Consumption of electronic devices continues to increase at a substantially rapid rate and Consumer Technology Association has stated that households in the US have up to 24 electronic products. Steady development and introduction of new and more innovative electronic devices and reducing costs of such devices is resulting rising adoption among consumers. As devices are becoming more advanced, older versions are becoming obsolete. To reduce E-waste, many countries have passed laws banning such waste from going into incinerators and landfills. An estimated 70% of heavy metals in landfills in the US are from electronics, and this trend is expected to continue going forward.
The study on the Global E-waste and Information Technology Asset Disposition (ITAD) Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The E-waste and Information Technology Asset Disposition (ITAD) market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the E-waste and Information Technology Asset Disposition (ITAD) industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall E-waste and Information Technology Asset Disposition (ITAD) industry.
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Some Key Highlights from the Report
In July 2021, S2S Group, which is an ITAD company, expanded its operations in London by acquiring assets and customer base of Data Eliminate Ltd. The acquisition will improve S2S Group’s presence in London with immediate effect. The company also invested USD 2.04 million to purchase a secure warehouse and office complex in Rotherham.
IT devices segment accounted for largest revenue share in 2020 as new technologies are being launched every year and GenX and millennials are gadget-obsessed. Most common IT devices found in wastes are LCD desktop monitors, smartphones. and laptops. Consumption of these devices is not reducing and it has been observed that an average cell phone user replaces their phone every 18 months and 1 billion cellphones, and 300 million computers go into production ever year. This is expected to increase further in the coming years.
BFSI segment accounted for a significantly large revenue share in 2020 as the industry has highly confidential and secure data such as personal information and account details of customers and corporates. Any data breach could compromise crucial information and affect a company’s reputation and hamper credibility. Thus, these sectors are adopting reliable and efficient ITAD programs, not only to dispose old devices, but to also properly manage E-waste.
North America accounted for largest revenue share in 2020 as the region shows a trend of high demand for latest technologies and product innovation. Implementation of various regulations to promote proper disposal of E-waste and ITAD and increased awareness among public regarding sustainable consumerism is driving growth of the market. Developed countries used to export their E-waste to less developed countries, but as most of these countries are limiting acceptance of such wastes, developed countries are taking initiatives to manage E-waste.
Leading Companies of the E-waste and Information Technology Asset Disposition (ITAD) Industry and Profiled in the Report are:
Dell Technologies, Electronic Recyclers International, Inc., Hewlett Packard Enterprise, LifeSpan International, Umicore S.A., Aurubis AG, Tetronics (International) Ltd., IBM Corporation, Boliden AB, and Iron Mountain.
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Furthermore, the report divides the E-waste and Information Technology Asset Disposition (ITAD) market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Emergen Research has segmented the global E-waste and ITAD market on the basis of type, source, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
Source Outlook (Revenue, USD Billion; 2018–2028)
End-use Outlook (Revenue, USD Billion; 2018–2028)
IT and Telecom
Banking, Financial Services, and Insurance (BFSI)
Media and Entertainment
Aerospace and Defense
Public Sector and Government Offices
The report sheds light on the region expected to dominate the E-waste and Information Technology Asset Disposition (ITAD) market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the E-waste and Information Technology Asset Disposition (ITAD) market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Key Points of E-waste and Information Technology Asset Disposition (ITAD) Market:
Extensive coverage of the analysis of the E-waste and Information Technology Asset Disposition (ITAD) market
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the E-waste and Information Technology Asset Disposition (ITAD) market
Complete data about the key manufacturers and vendors in the E-waste and Information Technology Asset Disposition (ITAD) market
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
E-waste and Information Technology Asset Disposition (ITAD) Market Size Worth USD 115.06 Billion in 2028.