IT Asset Reuse Market - Size, Share, Industry Trends, and Forecasts (2024 - 2031)

By Product:

Based on the product, the market is segmented into computers/laptops, printers, mobile devices, peripherals, storage, servers, and others.

Trends in the Product:

• The trend towards reusing computers/laptops helps organizations to reduce capital expenditure significantly in the IT industry.
• Peripherals including keyboards, monitors, printers, and others generally have a longer life cycle that allows redeployment and ensures sustainability goals.

The computer/laptop accounted for the largest revenue share of 27.33% of the overall IT asset reuse market share in 2023.

• Computers and laptops play a significant role due to their potential for extended usability beyond initial deployment.
• Refurbishment and redeployment of these devices offer organizations an opportunity to reduce capital expenditure while minimizing electronic waste.
• Additionally, the reuse of computers and laptops aligns with sustainability initiatives, contributing to both environmental conservation and corporate responsibility objectives.
• For instance, according to Circular Computing, purchasing remanufactured computers/laptops can reduce approximately 9 million tons of CO2 emission over the next several years.
• Hence, according to the analysis, the reuse of computers and laptops provides sustainability and low-cost options which in turn drive the global IT asset reuse market trends.

The peripherals are anticipated to register the fastest CAGR during the forecast period.

• Peripherals including keyboards, mice, monitors, and printers also offer significant potential for repurposing.
• Peripherals generally have longer life cycles compared to core IT assets and can be easily redeployed.
• Educational institutes, small businesses, government agencies, and others benefit from IT asset reuse because the cost is low compared to the new products.
• For instance, in October 2024, Remota streamlined IT asset logistics by providing end-to-end solutions for onboarding, off-boarding, refurbishing, and recycling of endpoint devices including peripherals.
• Therefore, the rising trend of using peripherals for sustainability and enhanced resource optimization is anticipated to boost the industry during the forecast period.

By Vertical:

Based on the vertical, the market is segmented into BFSI, telecom and IT, healthcare, aerospace, energy and utilities, government, education, and others.

Trends in the Vertical:

• Telecom and IT sectors are increasingly adopting IT asset reuse strategies to reduce costs and meet sustainability goals.
• There is a rising trend of using refurbished hardware that facilitates reducing e-waste and decreasing carbon footprint.

Telecom and IT accounted for the largest revenue share of the total IT asset reuse market share in the year 2023 and are anticipated to register the fastest CAGR during the forecast period.

• The telecom and IT industry play a crucial role since the industries rely heavily on IT equipment.
• Telecom companies, with their vast networks of servers, routers, and other communication devices benefit from repurposing older assets to reduce operational costs.IT firms manage extensive hardware systems and optimize their resources by refurbishing and redeploying outdated IT equipment which in turn drives the IT asset reuse market expansion.
• IT firms manage extensive hardware systems and optimize their resources by refurbishing and redeploying outdated IT equipment which in turn drives the IT asset reuse market expansion.
• For instance, in August 2022, Royal Mint collaborated with Circular Computing for remanufactured Lenovo laptops to reduce carbon emissions.
• Thus, the analysis states that refurbishing and redeploying outdated IT assets allows IT firms to maximize resource utilization, in turn driving market growth and trends.

Regional Analysis:

The regions covered are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

Asia Pacific region was valued at USD 5,613.12 Million in 2023. Moreover, it is projected to grow by USD 5,966.28 Million in 2024 and reach over USD 10,542.59 Million by 2031. Out of this, China accounted for the maximum revenue share of 36.1%.

The Asia Pacific region is at the forefront of digital adoption, with rapid economic growth and a prevalence of substantial consumers seeking affordable computing devices. Hence the analysis states that price-sensitive customers, especially in emerging markets are driving the IT asset reuse market growth.

• For instance, in November 2022, Hewlett Packard Enterprise collaborated with Yahoo! JAPAN for asset upcycling services to meet its sustainability objectives.

North America is estimated to reach over USD 9,230.87 Million by 2031 from a value of USD 5,037.62 Million in 2023 and is projected to grow by USD 5,343.41 Million in 2024. As per the analysis, the increase in the influence of environmental consciousness, technological advancements, and access to affordable computing solutions is projected to drive the IT asset reuse market growth in North America during the forecast period.

• In November 2023, Closed Loop Partners acquired a majority stake in Sage Sustainable Electronics, to strengthen its position as a prominent provider of sustainable IT asset management and disposition services in North America.

Additionally, according to the IT asset reuse market analysis, Europe is anticipated to witness substantial development. The region is backed by well-developed IT infrastructure and the growing consciousness around sustainability, along with the increasing demand for affordable IT asset solutions, and other related needs across the region.

Moreover, the Middle East & Africa is poised for moderate development. The key factors affecting the growth of the IT asset reuse market include growing demand in the SME sector, cost considerations, and initiatives to bridge the digital gap in Saudi Arabia and the UAE.

Further, the Latin American region is experiencing a growth in IT equipment backed by growing IT infrastructure. Countries such as Brazil, Argentina, and others are representing the cumulative expansion of the IT asset reuse market in the region.