With the constant evolution of technology, electronic equipment turns obsolete in a very short span of time. These abandoned, unmanaged and broken electronic devices known as e-waste (electronic waste) pollute the environment, making it unsuitable for human habitation. The rate at which technologies are going out of date has not only increased the volume of e-waste, but also triggered an immediate call for e-waste management.
An e-waste management system, on its part, establishes a value chain to ensure the collection of abandoned surplus and obsolete electronic devices. Along with this, the proper management of electronic waste can also be a valuable income stream.
Erase your e-waste: What’s trending in the industry?
Rising importance of e-waste recycling
As the usage of precious metals in electronic devices is increasing, governments have realized the potential savings on energy, and the pollution that can be controlled by creating a circular economy. A policy such as EPR (Extended producers’ responsibility) is one of the factors that are driving a circular economy. Companies such as Dell, Microsoft, HP, Panasonic, and Fuji Xerox have introduced programs by partnering with recycling firms to organize large take-back programs to recycle obsolete equipment and manage their e-waste.
Increasing adoption of electric vehicles (EVs) and energy storage systems
The global automotive market along with the EVs and HEVs industry has grown rapidly year over year. The upsurge in the adoption of electric vehicles across the world has resulted in the increased demand for battery usage in the automotive sector. Batteries have limited life after which they need to be disposed off in an eco-friendly manner. Therefore, stakeholders have found a way to extract and reuse the same components from old batteries in new ones through the recycling method.
Growing adoption of IoT devices
With the aim to adjust with the changing dynamics of grids and a host of next-generation consoles, televisions, laptops, and mobile devices, there has been rapid development in deploying smart devices such as smart home appliances and smart thermostats globally. This will result in devices to have additional electrical and communication components which in turn will increase the usage of precious metals such as gold.
Thus, the increased consumption of metals intensifies the need for recycling old devices to extract metals, in turn making a positive contribution to the circular economy wherein product resources can be reused and recycled.
Technavio solutions: A guide to boost your business
E-waste has become a significant issue in many countries around the world. The growing concern to reduce waste arising out of electronic components intensifies the demand for e-waste management. Vendors with advanced technologies have a great opportunity in the market.
Technavio’ s experts have completed an in-depth analysis of the global e-waste management market to aid players with detailed insights on the significant aspects including latest trends, industry applications, growth drivers, competitive landscape and other important facets of the industry.
For detailed information on e-waste management
