The global IT asset reuse market is expected to garner substantial traction in future years. Big tech companies and major cloud computing providers pilot various projects to reuse their digital assets & components in server upgrades and refurbish inventory & hard drives that could be overwritten data for reuse where possible. The growing demand for the circularity of digital assets would support market growth.
Citing the growing efforts of organizations to reuse products with reused content and sound recycling programs, Market Research Future (MRFR) expects the global IT asset reuse market to grow to USD 11,397.5 MN by 2030, registering a 14.7% CAGR throughout the review period (2022–2030). While some materials are lost in shredding and tearing up, drive reuse is always better than recycling.
Major Players
Players leading the IT asset reuse market are TBS Industries Inc (US), CDW (US), Ingram Micro (US), SIMS Lifecycle Services (US), ERI (US), Dataserv.LLC (US), Apto Solutions Inc.(US), Iron Mountain Incorporated (US), Dell Inc.(US), IBM Corporation (US), Hewlett Packard Enterprise Development LP (US), Lifespan International Inc.(US), Compucom (US), TES-AMM PTE LTD (Japan), and 3STEPIT (Finland), among others.
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Organizations of all sizes continually invest in expanding data processing and data protection regulations. There are a number of decommissioning companies emerged in the market, fostering a circular economy in small to medium-sized businesses. Moreover, growing trends such as the rising uptake of data destruction, technology reuse, and manufacturing services provide innovative cloud storage solutions.
Increasing numbers of cutting-edge research and development projects substantiate the IT asset reuse market shares. The increasing demand for solutions allowing cloud-based IT asset reuse would contribute to market growth throughout the assessment period. On the flip side, data privacy and security concerns are major factors impeding the IT asset reuse market size.
Report Attribute/Metric |
Details |
Market Size in 2030 |
USD 11,397.5 Million |
Growth rate: |
CAGR of 14.7% from 2022 to 2030 |
Forecast Period |
2020-2030 |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Market USP Covered
Global IT Asset Reuse Market – Segments
The market is segmented into product types, organization sizes, verticals, and regions. The product type segment is sub-segmented into laptops/notebooks/computers, printers, peripherals, mobile devices, storage, servers, and others. The organization size segment is sub-segmented into small & medium-sized enterprises and large enterprises.
The vertical segment is sub-segmented into IT & telecom, BFSI, healthcare, aerospace, energy & utilities, government, education, and others. By regions, the report is sub-segmented into the Middle East & Africa, Americas, Asia-Pacific, Europe, and rest-of-the-world.
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Global IT Asset Reuse Market – Geographical Analysis
North America dominates the global IT asset reuse market. The largest market share is attributed to increasing workforces that result in the widespread adoption of IT assets across enterprises and require timely disposal or reuse. Besides, the early adoption of innovative advanced technologies in sharing solutions increases the IT asset reuse market size.
High R&D investments in developing other related technologies, penetration of cloud solutions, and high economic growth across the region foster the IT asset reuse market share. The North American IT asset reuse market is poised to retain its dominance throughout the forecast period.
Global IT Asset Reuse Market — Competitive Landscape
The highly competitive IT asset reuse market appears fragmented due to the presence of several notable players. Leading players adopt strategies like collaboration, mergers & acquisitions, expansion, and technology launches to gain a larger competitive share. These players also make substantial R&D investments in developing adept technologies. Considerable investments go into expansion plans to increase global reach and gain diverse expertise.
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Industry/ Innovation/ Related News
Oct. 15, 2022 — Bay Cities, a leading packaging & Design Company, announced a partnership with Homeboy Industries for its Electronic Recycling Program to support their sustainability initiatives by properly disposing electronics and other digital assets. Homeboy Industries’ full-service IT asset disposition and electronic recycling program allows for sustainable e-waste disposal and reuse of IT assets.
Under the terms of the partnership, Homeboy Industries will transfer all accumulated e-waste and properly dispose of or reuse it where applicable, furthering the improvement of Bay Cities’ sustainability initiatives. Isidore Electronics Recycling, a social enterprise of Homeboy Industries, focuses on the disposal and reuse of items like computers, monitors, cell phones, etc.
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