ERI Co-Founder and Executive Chairman John Shegerian Explains the Massive Growth of ITAD Services Market

NEW YORK--()--Citing recently reported statistics showing demand for ITAD services at an all-time high, John Shegerian, Co-Founder and Executive Chairman of ERI, the largest fully integrated IT and electronics asset disposition provider and cybersecurity-focused hardware destruction company in the United States, has claimed that the biggest driver of the ITAD trend is the dramatic increase in cyber- and hardware hacking claims.

A recent market report issued by Wise Guy Reports claimed that the global IT asset disposition (ITAD) market boasted an annual growth rate of 10.71% from 2014 to 2017 and is now expected to reach a market size of $20,090 million by 2022.

Researchers point to a number of major factors driving the growth of the ITAD market, including increasing adoption of new technology leading to swifter turnover of devices, and the “bring your own device” (BYOD) trend in many organizations. BYOD has created demand for IT assets disposition because employees are using old version on their laptops. In addition, technological advances in cloud computing, big data analytics, and the Internet of Things (IoT) are reducing the lifespan of IT equipment and thus increasing the dependence on ITAD services.

Regulatory changes across the globe aimed at minimizing the environmental hazards which are created by electronic waste are also causing an uptick in the IT asset disposition market. Government regulations for saving the data and environmental protection have grown more demand for IT assets service. Many industries are regulated by different kinds of privacy protection rules such as HIPAA or FACTA.

Shegerian adds that an unfortunate but very real consideration that is also leading to increased need for ITAD services is the escalating number of cybercrime and hardware hacking incidents reported in recent months.

“Hackers have become very sophisticated, leading to an urgent need for responsible and fully-integrated ITAD services,” noted Shegerian. “When it comes to data theft, businesses are no longer only at risk in cyberspace – outdated hardware has increasingly become the target of choice. It is urgent that outdated devices be replaced – and then responsibly destroyed. Here in the US, that process should be done domestically and should always include complete, physical data destruction. The hardware security issue is significant now on a number of levels because it leads to the wholesale liquidation of our national security and the privacy of the corporations and individuals of the United States. It is more imperative than ever that we recycle these devices and do it the right way – from both environmental and data destruction standpoints.”

Shegerian added that ERI currently provides the only dually certified nationwide solution offering 100 percent guaranteed data destruction for consumer electronics devices, e-waste, and hardware.

Further bolstering its position in the industry, ERI was also once again included among the annual listing of “Representative Vendors” in Gartner’s 2018 Market Guide to IT Asset Disposition.

ERI is the largest fully integrated IT and electronics asset disposition provider and cybersecurity-focused hardware destruction company in the United States. ERI is certified to de-manufacture, recycle, and refurbish every type of electronic device in an environmentally responsible manner. ERI has the capacity to process more than a billion pounds of electronic waste annually at its eight certified locations, serving every zip code in the United States. ERI’s mission is to safeguard organizations, people and the environment. For more information about e-waste recycling and ERI, call 1-800-ERI-DIRECT or visit https://eridirect.com.

Contacts

For ERI:
Paul Williams, 310-569-0023
paul.williams@eridirect.com

Release Summary

ERI's John Shegerian points to cyber crime as a driver for the current boom in ITAD services requests.

Contacts

For ERI:
Paul Williams, 310-569-0023
paul.williams@eridirect.com