2012-11-02 13:49:32 - Global e-waste management market booming due to rapid advancements in technology
The global e-waste management market has been forecast to increase at a compound annual growth rate (CAGR) of 17.6% over the next five years, rising from 41.5 million tons in 2011, to reach 93.5 million tons by 2016, giving the industry a market value of $20.25 billion.Rapid advancement in technology is resulting in new electronic products being launched, along with upgraded versions of existing products such as laptops and mobile phones flooding the market on a regular basis is leading to the equally rapid abandonment of old models which no longer meet the mark, making e-waste one of the fastest growing waste streams, globally. This trend is causing an accumulation of electronic waste that triggers the need to recycle electronic
products; which implies the fact that the recycling industry will always have its share in the market.The rate of generation of e-waste is high in both developed and developing economies. The main reason for the high growth rate in developing countries is the increasing market penetration of electrical and electronics goods., while in developed economies, the rate of e-waste generation is high because of the high obsolescence rate and high replacement rate of electrical and electronics items.There is an increasing demand for proper e-waste management techniques since e-waste consists of toxic materials, which if not properly disposed, can lead to high levels of pollution. Such pollution, if not controlled, can lead to irreversible damage to human health as well as the environment.It is expected that stringent government regulations pertaining to e-waste management and increasing demand for the recycled material will drive the e-waste management market. Key manufacturers such as Apple Inc., Dell Inc. and Hewlett Packard Development Company (HP) are taking steps to ensure the safe and environmentally friendly disposal of their discarded products.For more information on the global e-waste management market, see the latest research: Global E-Waste Management MarketFollow us on Twitter @CandMResearch
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