ID: MRFR/ICT/0496-HCR | August 2022 | Region: Global | 110 pages
Impact of COVID-19 on the Global IT Asset Disposition (ITAD) Market
IT asset disposition (ITAD) is the process of disposing of unwanted computer equipment in an ecologically responsible manner. The improper disposal of IT equipment results in an adverse impact on the environment. The ITAD vendors help organizations to manage the recycling, remarking, and remarketing of IT equipment to avoid legal risks, unnecessary costs, and environmental concerns. The primary factor responsible for the growth of the market is the increasing demand for electronic devices such as computers, laptops, and handheld devices. The COVID-19 outbreak has impacted most countries around the globe. The world is fighting against the pandemic as well as with the economic slowdown. Most of the countries are still under lockdown owing to the rapidly spreading coronavirus. The lockdown has resulted in the shutting down of companies. In order to stop the spread of COVID-19, people are maintaining social distancing and have been compelled to stay at home. The employees working from home are using their laptops or handheld devices provided by the company, which is driving the adoption of ITAD services. The growing bring your own devices (BYOD) trend is also expected to drive the growth of the market. The benefits provided by the BYOD policy include lower employee attrition rate, reduced hardware acquisition costs, seamless transition to remote work, and higher productivity.
The lockdown has positively impacted the cloud computing technology market owing to the remote working trend, and the companies are using robust collaborative tools to run the operations smoothly. In the healthcare sector, cloud computing plays a vital role by providing remote access to health professionals as well as doctors to analyze the data of coronavirus affected patients. The shift toward cloud-based services has resulted in a decline in the IT infrastructure or IT hardware market, which, in turn, is creating a significant opportunity for the IT asset disposition market. North America dominates the market owing to the increasing number of cloud data centers. The widespread adoption of cloud-based technologies and the presence of ITAD service providers in the region are expected to drive the growth of the market over the forecast period.