IT Asset Reuse Market By Size, Growth, Trends and Forecast 2018-2028

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 24.55 Billion
CAGR (2023-2028)	7.5%
Fastest Growing Segment	Computer/Laptop/Notebooks
Largest Market	Europe

Market Overview

Global IT Asset Reuse Market was valued at USD 24.55 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 7.5 %through 2028. Technology has progressed to the point where it is now useful in all aspects of the business. Most common and highly demanded IT assets in any organization are computers and laptops that are used at work to stay on top of a variety of professional matters.

Key Market Drivers

The IT asset reuse market encompasses the recycling, refurbishing, and reselling of used IT equipment and hardware, including computers, servers, networking devices, and other technology assets. Some of the key drivers of this market include:

Cost Savings: One of the primary drivers for IT asset reuse is cost savings. Many organizations opt to refurbish and reuse IT equipment to reduce capital expenditures on new hardware. This approach can significantly lower the total cost of ownership (TCO) and extend the lifespan of IT assets.

Sustainability and Environmental Concerns

Environmental consciousness and sustainability have become increasingly important factors in IT asset management. Reusing IT equipment helps reduce electronic waste and the environmental impact associated with the disposal of electronic waste. Companies often prioritize IT asset reuse as part of their corporate social responsibility (CSR) initiatives. Many countries and regions have introduced regulations and standards for electronic waste disposal and recycling. Compliance with these regulations can be a driver for IT asset reuse, as organizations seek to avoid fines and penalties associated with improper disposal of IT equipment.

Circular Economy: The concept of a circular economy, where products are designed to be reused, refurbished, and recycled, has gained traction. IT asset reuse is aligned with this concept, promoting a more sustainable approach to IT equipment lifecycles.

Data Security: Proper disposal of IT assets is crucial for data security. Refurbishing and reusing IT equipment often involve secure data erasure or destruction, which is essential for protecting sensitive information. Data breaches and cybersecurity concerns have driven organizations to adopt secure IT asset reuse practices.

Technological Advancements: Advancements in technology, such as the increasing use of virtualization and cloud computing, have reduced the need for some physical IT assets. This has led to organizations evaluating existing equipment for potential reuse rather than purchasing new hardware.

Access to Affordable IT Equipment

Small and medium-sized enterprises (SMEs) and organizations with budget constraints often turn to the IT asset reuse market to acquire affordable and functional IT equipment. Periodic shortages of new IT equipment, driven by factors like supply chain disruptions, have led organizations to consider the reuse of existing assets as a viable alternative to mitigate these shortages.

Warranty Extension: Some IT asset reuse providers offer extended warranties on refurbished equipment, providing additional incentives for organizations to consider reuse options.

Job Creation and Economic Impact: The IT asset reuse market can create jobs in refurbishment and recycling, contributing to local economies.

Please note that the IT asset reuse market is dynamic, and market conditions may have changed since my last update. It's essential to conduct thorough market research and consult current sources for the latest trends and developments in this sector.

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Key Market Challenges

Data Security and Privacy: Data security and privacy concerns are significant challenges in IT asset reuse. Ensuring that sensitive data is securely wiped or destroyed from retired IT equipment is essential. Data breaches can result in significant legal and financial consequences.

Compliance and Regulations: Meeting regulatory requirements for the handling and disposal of IT assets can be complex and costly. Different regions and industries may have specific regulations governing electronic waste disposal and data privacy.

Asset Identification and Tracking: Organizations need efficient systems for identifying, tracking, and managing IT assets throughout their lifecycle. Accurate record-keeping is crucial for compliance, security, and auditing purposes.

Quality Control and Reliability: Refurbished IT equipment must meet certain quality and reliability standards. Ensuring that reused assets function as expected and have an extended operational lifespan is critical to maintain customer trust.

Compatibility and Integration: Compatibility issues may arise when integrating reused IT assets into existing infrastructure. Ensuring that refurbished equipment seamlessly works with current systems and applications is a challenge.

Rapid Technological Advancements

The pace of technological change can render some IT assets obsolete quickly. Organizations must make informed decisions about which equipment to reuse and when it's more cost-effective to upgrade to newer technology.

Trust and Reputation: Trust is essential in the IT asset reuse market. Customers and clients need to have confidence in the quality and security of refurbished equipment and services. Building and maintaining a good reputation is a continuous challenge.

Environmental Sustainability: While IT asset reuse can reduce electronic waste, it's not without environmental challenges. Energy consumption during the refurbishment process, transportation, and the use of hazardous materials in some electronics can have negative environmental impacts.

Liability and Warranty Issues: Organizations may face challenges related to warranties and liability for refurbished equipment. Providing warranties and after-sales support for reused assets can be complex.

End-of-Life Disposal: After multiple cycles of use, IT assets may reach a point where they can no longer be refurbished or reused. Proper disposal and recycling of these end-of-life assets present challenges, especially in meeting environmental regulations.

Supply Chain and Sourcing: Access to a consistent supply of quality IT assets for reuse can be a challenge. Supply chain disruptions or shortages of specific components can impact the availability of refurbished equipment.

Data Center Decommissioning: Decommissioning large-scale data centers and reusing their components can be a complex and time-consuming process, involving logistics, coordination, and potential business interruptions.

Skill and Expertise: Effective IT asset reuse requires skilled personnel who can assess, refurbish, and manage IT equipment. A shortage of qualified personnel can be a challenge in some regions.

It's important to note that the IT asset reuse market is continually evolving, and some of these challenges may have been addressed or changed in response to industry developments and advancements. Organizations involved in IT asset reuse need to adapt and innovate to overcome these challenges and seize opportunities in this dynamic sector.

Key Market Trends

Circular Economy Adoption

The adoption of circular economy principles was a significant trend. Businesses and governments were increasingly recognizing the importance of extending the lifespan of IT assets and reducing electronic waste. IT asset reuse aligns with the circular economy by promoting the refurbishing and reusing of equipment. Many organizations were implementing sustainability initiatives that included IT asset reuse as a core component. They were actively seeking to reduce their environmental footprint by refurbishing and repurposing equipment, thus contributing to a greener IT industry.

Data Security and Privacy: With growing awareness of data security and privacy concerns, there was a trend toward more stringent data erasure and disposal processes. Service providers and organizations were adopting advanced data wiping and destruction methods to ensure that sensitive information was adequately protected when reusing IT assets.

Asset Management Solutions: The use of advanced asset management and tracking solutions was on the rise. These technologies helped organizations better manage their IT assets throughout their lifecycle, from acquisition to disposal, and optimize their reuse strategies.

Customization and Upcycling

Some companies were offering customization and upcycling services, allowing organizations to personalize refurbished IT equipment to meet specific needs or branding requirements. This trend catered to businesses seeking unique and tailored solutions.

Remote Work and BYOD (Bring Your Own Device): The COVID-19 pandemic accelerated the adoption of remote work, and many organizations allowed employees to use their personal devices for work. This trend increased the importance of securely managing and reusing personal devices and equipment.

Extended Warranties and Support: To build trust and attract customers, IT asset reuse providers were offering extended warranties and support services on refurbished equipment. This trend aimed to reassure clients about the reliability and durability of reused assets.

Online Marketplaces and E-commerce: The growth of online marketplaces and e-commerce platforms specializing in refurbished IT equipment was notable. These platforms provided convenient access to a wide range of reused IT assets for both businesses and consumers.

Market Consolidation: The market was seeing consolidation with larger IT asset management and reuse companies acquiring smaller players. This trend aimed to expand service offerings, reach new markets, and provide comprehensive solutions to clients.

IT Asset Lifecycle Planning: Organizations were increasingly adopting IT asset lifecycle planning as part of their overall IT strategy. This approach involved careful planning for the acquisition, use, and eventual reuse or disposal of IT assets, promoting cost-efficiency and sustainability.

Cloud Services and Virtualization: The trend toward cloud services and virtualization was influencing IT asset reuse. Some organizations opted to reuse existing equipment while shifting more workloads to cloud environments, reducing the need for on-premises hardware.

Artificial Intelligence and Automation: AI and automation technologies were being utilized in the assessment and refurbishment of IT assets. These technologies helped identify potential issues, streamline refurbishment processes, and improve quality control.

Segmental Insights

Product Type Insights

The Computers/Laptops/Notebooks accounted for the largest market share at USD 1508.8 Million in 2021 and is expecetd to grow at a CAGR of 13.7% during the anticipated timeframe.The global market, based on organization size, has been segmented into Large Enterprises, and Small And Medium Sizes Enterprises.The global market, based on vertical, has been segmented into BFSI, telecom and IT, Healthcare, Aerospace, Energy and Utilities, Government, Education, and others.

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Regional Insights

Europe accounted for the largest market share of 52% in 2021 due to government imposition of environmental regulations by the government on handling of redundant assets.Germany is one of the leading countries and at the forefront of innovation and technology, having the presence of major players in the field of semiconductors, power electronics, and information and communication technology (ICT). Furthermore, some of the other factors that fuel the market growth in the rest of Europe include the growing technology literacy of people and the rising adoption of next-generation technologies across the BFSI and healthcare industries, which are supporting the domestic vendors of IT asset reuse market.

Recent Developments

In 2022, Iron Mountain Incorporated (US) acquired Reimagine Technology Partners, a leading provider of IT asset management services, for $1.1 billion. This acquisition strengthens Iron Mountain's position in the IT asset reuse market and expands its ability to offer comprehensive IT lifecycle management solutions to its customers.
In 2022, Dell Technologies announced a $100 million investment in Aptos Solutions Inc.(US), a provider of IT asset management software. This investment will support Aptos' development of innovative software solutions that help businesses optimize their IT asset management practices and increase the reuse and recycling of IT assets.
Hewlett Packard Enterprise (US) has been actively investing in IT asset reuse initiatives, including the development of new refurbishment and redeployment services. In 2022, the company launched its Circular Economy Transformation program, which aims to provide businesses with comprehensive solutions to extend the life of their IT assets and reduce their environmental impact.
IBM Corporation (US) has also made significant investments in IT asset reuse, including the development of new technologies that can automate the data erasure and refurbishment processes. In 2022, the company partnered with Lifespan International Inc.(US) to offer a comprehensive IT asset reuse solution to its customers.
TES-AMM PTE LTD (Japan), a global provider of IT asset management and recycling services, has been expanding its operations into new markets. In 2022, the company opened a new refurbishment facility in Singapore to meet the growing demand for IT asset reuse services in the Asia-Pacific region.

Key Market Players

CDW (US)
TBS Industries Inc
Ingram Micro
ERI
SIMS Lifecycle Services
Dataserv.LLC
Iron Mountain Incorporated (US)
Aptos Solutions Inc
Dell Inc.
Hewlett Packard Enterprise Development LP

By Product Type

By Vertical

By Organization Size

By Region

Computer/Laptop/Notebooks, Printers
Mobile Devices
Peripherals
Storages
Servers
Other

BFSI
Telecom and IT
Healthcare
Aerospace
Energy and Utilities
Government
Education
Others

Large Enterprises
Small and Medium Enterprises

North America
Europe
South America
Middle East & Africa
Asia Pacific

Report Scope:

In this report, the Global IT Asset Reuse Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

· Global IT Asset Reuse Market, By Product Type:

o Computer/Laptop/Notebooks, Printers

o Mobile Devices

o Peripherals

o Storages

o Servers

o Other

· Global IT Asset Reuse Market, By Vertical:

o BFSI

o Telecom and IT

o Healthcare

o Aerospace

o Energy and Utilities

o Government

o Education

o Others

· Global IT Asset Reuse Market, By Organization Size:

o Large Enterprises

o Small and Medium Enterprises

· Global IT Asset Reuse Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Asia-Pacific

§ China

§ India

§ Japan

§ South Korea

§ Indonesia

o Europe

§ Germany

§ United Kingdom

§ France

§ Russia

§ Spain

o South America

§ Brazil

§ Argentina

o Middle East & Africa

§ Saudi Arabia

§ South Africa

§ Egypt

§ UAE

§ Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global IT Asset Reuse Market.

Available Customizations:

Global IT Asset Reuse Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global IT Asset Reuse Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.3. Markets Covered

1.4. Years Considered for Study

1.5. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

4. Voice of Customers

5. Global IT Asset Reuse Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Product Type (Computer/Laptop/Notebooks, Printers, Mobile Devices, Peripherals, Storages, Servers, Other)

5.2.2. By Organization Size (Large Enterprises, Small and Medium Enterprises)

5.2.3. By Vertical (BFSI, Telecom and IT, Healthcare, Aerospace, Energy and Utilities, Government, Education, Others)

5.2.4. By Region

5.3. By Company (2022)

5.4. Market Map

6. North America IT Asset Reuse Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Product Type

6.2.2. By Organization Size

6.2.3. By Vertical

6.2.4. By Country

6.3. North America: Country Analysis

6.3.1. United States IT Asset Reuse Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Product Type

6.3.1.2.2. By Organization Size

6.3.1.2.3. By Vertical

6.3.2. Canada IT Asset Reuse Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Product Type

6.3.2.2.2. By Organization Size

6.3.2.2.3. By Vertical

6.3.3. Mexico IT Asset Reuse Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Product Type

6.3.3.2.2. By Organization Size

6.3.3.2.3. By Vertical

7. Asia-Pacific IT Asset Reuse Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Product Type

7.2.2. By Organization Size

7.2.3. By Vertical

7.2.4. By Country

7.3. Asia-Pacific: Country Analysis

7.3.1. China IT Asset Reuse Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Product Type

7.3.1.2.2. By Organization Size

7.3.1.2.3. By Vertical

7.3.2. India IT Asset Reuse Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Product Type

7.3.2.2.2. By Organization Size

7.3.2.2.3. By Vertical

7.3.3. Japan IT Asset Reuse Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Product Type

7.3.3.2.2. By Organization Size

7.3.3.2.3. By Vertical

7.3.4. South Korea IT Asset Reuse Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Product

7.3.4.2.2. By End User

7.3.5. Indonesia IT Asset Reuse Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Product Type

7.3.5.2.2. By Organization Size

7.3.5.2.3. By Vertical

8. Europe IT Asset Reuse Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Product Type

8.2.2. By Organization Size

8.2.3. By Vertical

8.2.4. By Country

8.3. Europe: Country Analysis

8.3.1. Germany IT Asset Reuse Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Product Type

8.3.1.2.2. By Organization Size

8.3.1.2.3. By Vertical

8.3.2. United Kingdom IT Asset Reuse Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Product Type

8.3.2.2.2. By Organization Size

8.3.2.2.3. By Vertical

8.3.3. France IT Asset Reuse Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Product Type

8.3.3.2.2. By Organization Size

8.3.3.2.3. By Vertical

8.3.4. Russia IT Asset Reuse Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Product Type

8.3.4.2.2. By Organization Size

8.3.4.2.3. By Vertical

8.3.5. Spain IT Asset Reuse Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Product Type

8.3.5.2.2. By Organization Size

8.3.5.2.3. By Vertical

9. South America IT Asset Reuse Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Product Type

9.2.2. By Organization Size

9.2.3. By Vertical

9.2.4. By Country

9.3. South America: Country Analysis

9.3.1. Brazil IT Asset Reuse Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Product Type

9.3.1.2.2. By Organization Size

9.3.1.2.3. By Vertical

9.3.2. Argentina IT Asset Reuse Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Product Type

9.3.2.2.2. By Organization Size

9.3.2.2.3. By Vertical

10. Middle East & Africa IT Asset Reuse Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Product Type

10.2.2. By Organization Size

10.2.3. By Vertical

10.2.4. By Country

10.3. Middle East & Africa: Country Analysis

10.3.1. Saudi Arabia IT Asset Reuse Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Product Type

10.3.1.2.2. By Organization Size

10.3.1.2.3. By Vertical

10.3.2. South Africa IT Asset Reuse Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Product Type

10.3.2.2.2. By Organization Size

10.3.2.2.3. By Vertical

10.3.3. UAE IT Asset Reuse Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Product Type

10.3.3.2.2. By Organization Size

10.3.3.2.3. By Vertical

10.3.4. Israel IT Asset Reuse Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Product Type

10.3.4.2.2. By Organization Size

10.3.4.2.3. By Vertical

10.3.5. Egypt IT Asset Reuse Market Outlook

10.3.5.1. Market Size & Forecast

10.3.5.1.1. By Value

10.3.5.2. Market Share & Forecast

10.3.5.2.1. By Product Type

10.3.5.2.2. By Organization Size

10.3.5.2.3. By Vertical

11. Market Dynamics

11.1. Drivers

11.2. Challenge

12. Market Trends & Developments

13. Company Profiles

13.1. CDW.

13.1.1. Business Overview

13.1.2. Key Revenue and Financials

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services

13.2. TBS Industries Inc.

13.2.1. Business Overview

13.2.2. Key Revenue and Financials

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Services

13.3. Ingram Micro.

13.3.1. Business Overview

13.3.2. Key Revenue and Financials

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Services

13.4. ERI.

13.4.1. Business Overview

13.4.2. Key Revenue and Financials

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Services

13.5. SIMS Lifecycle Services.

13.5.1. Business Overview

13.5.2. Key Revenue and Financials

13.5.3. Recent Developments

13.5.4. Key Personnel

13.5.5. Key Product/Services

13.6. Dataserv.LLC.

13.6.1. Business Overview

13.6.2. Key Revenue and Financials

13.6.3. Recent Developments

13.6.4. Key Personnel

13.6.5. Key Product/Services

13.7. Iron Mountain Incorporated.

13.7.1. Business Overview

13.7.2. Key Revenue and Financials

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Services

13.8. Aptos Solutions Inc.

13.8.1. Business Overview

13.8.2. Key Revenue and Financials

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Services

13.9. Dell Inc.

13.9.1. Business Overview

13.9.2. Key Revenue and Financials

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Services

13.10. Hewlett Packard Enterprise Development LP.

13.10.1. Business Overview

13.10.2. Key Revenue and Financials

13.10.3. Recent Developments

13.10.4. Key Personnel

13.10.5. Key Product/Services

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global IT Asset Reuse Market in 2022?

The market size of the Global IT Asset Reuse Market was USD 24.55 Billion in 2022.

Which was the dominant segment in the Global IT Asset Reuse Market in 2022?

The Global IT Asset Reuse Market was dominated by the Computer/Laptop/Notebooks segment in 2022.

What is the main Challenge in the Global IT Asset Reuse Market?

One of the biggest challenges facing the IT asset reuse market is data security. When businesses dispose of their IT assets, they need to ensure that all sensitive data is securely wiped or destroyed to prevent data breaches and protect their privacy. This can be a complex and expensive process, and many businesses are hesitant to reuse IT assets due to these concerns.

What are the major drivers for the Global IT Asset Reuse Market?

Technology has progressed to the point where it is now useful in all aspects of the business. Most common and highly demanded IT assets in any organization are computers and laptops that are used at work to stay on top of a variety of professional matters.

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Sakshi Bajaal

Business Consultant

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Press Release

Computer/Laptop/Notebooks Segment is Expected to Dominate the Global IT Asset Reuse Market

Jan, 2024

Technology has progressed to the point where it is now useful in all aspects of the business are the factors driving the market growth.

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