ITAD is a procedure for the safe disposal of IT assets of an organization. ITAD comprises several processes, including data sanitization/data destruction, recovery, and recycling. Companies increasingly demand the resale and remarketing of used equipment in order to reap the maximum possible RoI. The global ITAD market is anticipated to expand with the rising demand for used/refurbished IT equipment and increasing data security concerns across the globe.
The global ITAD market is expected to expand at a CAGR of 7.3% during the forecast period 2019 to 2027. The market is expected to reach US$ 23,184.9 Mn by 2027. Data breaches result in monetary losses. When an IT asset is set out for disposal, it is essential for the company to ensure that the data stored in the asset is either migrated or destroyed.
The rising trend of migration of data to the cloud is leading to replacement of older IT infrastructure. This is expected to drive the ITAD market significantly. Furthermore, governments around the globe are concentrating on resolving the environmental issues that are arising from e-waste, thus resulting in introduction of several rules and regulations regarding the safe disposal of IT assets.These rules and regulations are compelling companies to approach ITAD vendors in order to dispose their assets as per the industry standards. All these factors are expected to drive the global ITAD market.
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