Global IT Asset Reuse Market to Reach USD 30,505.19 Million by 2031 | CAGR of 7.8%
Category : IT And Telecommunications | Published Date : Oct 2024 | Type : Press Release
IT Asset Reuse Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the IT Asset Reuse Market size was valued at USD 16,693.29 Million in 2023 and is projected to reach USD 30,505.19 Million by 2031, growing at a CAGR of 7.8% from 2024 to 2031. IT asset reuse involves the practice of redeploying IT components, such as hardware and software, to extend their lifecycle. These assets include computers, servers, and networking devices, aiding organizations in reducing e-waste, lowering operational costs, and meeting sustainability goals.
The report comprises the IT Asset Reuse Market Share, Size & Industry Analysis, By Product (Computer/Laptop, Printers, Mobile Devices, Peripherals, Storages, Servers, Others), Vertical (BFSI, Telecom and IT, Healthcare, Aerospace, Energy and Utilities, Government, Education, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on IT Asset Reuse Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Rising awareness of sustainability in IT and significant cost savings for businesses are key drivers of market growth. Additionally, expansion in refurbished IT equipment offers growth opportunities.
Segmental Analysis :
Based on product, the market includes computers/laptops, printers, mobile devices, peripherals, storage, servers, and others.
- Computer/Laptop accounted for the largest revenue share in 2023, driven by the potential for extended usability, which supports cost savings and sustainability goals.
- Peripherals are anticipated to grow at the fastest CAGR, benefiting from longer lifecycles and high redeployment rates, especially in sectors like education and government.
Based on vertical, the market covers BFSI, telecom and IT, healthcare, aerospace, energy and utilities, government, education, and others.
- Telecom and IT held the largest share in 2023, driven by demand to reduce operational costs and meet sustainability targets through refurbishing IT hardware.
- Telecom and IT are also expected to grow at the fastest CAGR, given the sector's reliance on extensive IT infrastructure that benefits from asset reuse strategies.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- Asia-Pacific led the market in 2023, driven by digital adoption and demand for affordable IT devices in emerging economies, particularly in China.
- North America is projected to grow at a notable CAGR due to rising environmental consciousness and increasing adoption of sustainable IT asset practices.
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2031 | USD 30,505.19 Million |
| CAGR (2024-2031) | 7.8% |
| By Product | Computer/Laptop, Printers, Mobile Devices, Peripherals, Storage, Servers, Others |
| By Vertical | BFSI, Telecom and IT, Healthcare, Aerospace, Energy and Utilities, Government, Education, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the IT Asset Reuse Industry:
- TBS Industries Inc. (US)
- SIMS Lifecycle Services (US)
- ERI (US)
- CDW (US)
- Dataserv LLC (US)
- Ingram Micro (US)
- Iron Mountain Incorporated (US)
- Apto Solutions Inc.(US)
- Dell Inc.(US)
- Hewlett Packard Enterprise Development LP (US)
Recent Industry Developments :
- In May 2024, NTT DATA partnered with HP to launch a Device-as-a-Service solution focusing on IT asset reuse, sustainability, and circular economy objectives.
- In November 2023, Closed Loop Partners acquired a majority stake in Sage Sustainable Electronics to expand sustainable IT asset management services in North America.
