What is Asset Recovery Services Market?
Asset recovery is also known as investment or resource recovery. It is the process of maximizing the value of unused or end-of-life assets through effective reuse or divestment. It is the process of liquidating excess inventory, refurbished items and equipment returned at the end of the lease.
Highlights from Asset Recovery Services Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), Sims Recycling Solutions (United Kingdom), Dell (United States), Lenovo (China), Hewlett Packard Enterprise (United States), Minntek Solutions Inc. (United States), Atlantix Global (United States), Avnet (United States), NorthStar (United States) and iQor (United States) |
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Asset Recovery Services market throughout the forecasted period.
IBM (United States), Sims Recycling Solutions (United Kingdom), Dell (United States), Lenovo (China), Hewlett Packard Enterprise (United States), Minntek Solutions Inc. (United States), Atlantix Global (United States), Avnet (United States), NorthStar (United States) and iQor (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are PCM, Inc. (United States) and Nokia Networks (Finland). Asset Recovery Services Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Personal, Commercial, Military and Other |
Type | SD Card, Hard Disk, USB Drive, Mobile Phone, PC & Tablet and Other |
On the basis of geography, the market of Asset Recovery Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Demand for Asset Recovery Services
Market Growth Drivers:
Easy To Use and Eliminates Excess Storage and Provides Accurate Reporting
Challenges:
Lack of Awareness in Developing Regions
Restraints:
Lack Of Comprehensive IT Asset Disposition Policies
Opportunities:
Growing Demand from End-User Industry
Key Target Audience
Asset Recovery Services Providers, Research Professionals, Emerging Companies, Government Body & Associations and End user
Market Leaders & Development Strategies
In February 2023, Dell launched a new partner program with the start of fiscal year 2024. However, this inadvertently coincided with news that Dell was laying off 5% of its workforce due to deteriorating market conditions. After warning of headwinds last November, Dell joined a chorus of business and economists predicting long-term uncertainty.
In April 2023, Hewlett Packard Enterprise announced new file, block, disaster, and backup recovery data services designed to help customers eliminate data silos, reduce cost and complexity, and improve performance. New file storage data services deliver scalable enterprise-class performance for data-intensive workloads, and extended block services deliver mission-critical storage with mid-range economics.