Market Size of Europe IT Asset Disposition Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.90 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe IT Asset Disposition Market Analysis
The Europe IT Asset Disposition Market is expected to grow at a CAGR of 7.9% during the forecast period. The demand for consumer electronics is continually rising, and consumers are becoming more conscious of the value of properly disposing of IT assets, which is driving the use of IT asset disposal (ITAD) services in Europe.
- Even though many businesses have a plan for replacing electronic devices, businesses with old hardware still need to decide whether to dispose of them, recycle them, resell them, or restore them. When internally disposing of IT assets, the asset management, accession, and risk management teams oversee some of its components. A corporate could also collaborate and cooperate with other businesses that have ITAD expertise.
- It may be very technical and difficult to dispose of hardware once it has reached the end of its useful life. It relates to data sanitization, recycling, refurbishing, reuse, and other disposal procedures. Companies such as Procurri work to the highest possible disposition standards, exceeding legal and industry standards to manage IT asset disposal in the most ethical, secure, and environmentally friendly way possible.
- Despite the importance of ITAD, many businesses struggle to manage the related processes because they lack a solid understanding of ITAD and the standards that govern it. As a result, many companies and clients in European countries dispose of their information technology assets improperly to save money on the costs associated with their proper clearance.
- Different geographical places have different laws and rules regarding IT asset disposal. The WEEE directive, which applies to all electronic waste forms in EU member states and the United Kingdom's ex-EU territory, governs safe and responsible recycling, recovery, and collecting practices.
- The COVID-19 pandemic has affected most European countries significantly. For IT firms, the key concern was the rate of development. Therefore, efficient management of surplus equipment was required. Due to the move to remote work during the pandemic, businesses were forced to purchase new IT equipment. Concerns about how companies would handle the rise in electronic or IT asset waste resulting from the expansion of acquisitions of IT assets associated with remote working have been raised.
