Few markets evolve as rapidly as the mobile phone industry. Cutting-edge devices become obsolete within months, and in most cases, users consider anything more than few-years old to be ”mobile garbage” or the technical term, e-waste. The Global Green and Recycled Phone Market has been taking steps to capitalize on these discarded cellular devices for the past few years, and is poised to continue growing at a CAGR of 19.1 percent through to 2015.
We’ve all heard the age-old saying, ”one man’s trash is another man’s treasure”, and this serves as the foundation of the market for recycled phones. While a lot of the industry is built upon the necessity of properly disposing the hazardous materials in cellphones, e-waste itself is a goldmine for vendors-both literally, and metaphorically.
One of the market’s primary driving factors is the presence of valuable materials in e-waste, including gold, silver, aluminum, and copper. Hundreds of tonnes of these precious metals are discarded with used mobile phones annually. By extracting these metals for reuse, market players are able to help conserve natural resources while also profiting from resale revenue.
The other treasure trove in Global Green and Recycled Phone Market is the increasing demand for high-value mobile phones. These days, most of the ”must-have” phones with high-tech features have high price-tags to match, which many customers cannot afford. In order to capture these customers, many mobile phone vendors are linking up with players in the recycled phone market to sell used and refurbished devices.
In addition to the inherent value of discarded phones, other drivers propelling the market include:
- Expanding Market Awareness among Consumers
- Increasing Environmental Awareness
- Increase in Production of Recyclable Phones
When it comes down to it, almost all factors point towards the continued success of vendors in the green and recycled phone industry. While other markets face obstacles like limited resources or lack of consumer interest, the global supply of discarded phones is replenished almost daily, and increasing concern for pollution guarantees a steady demand for recycling solutions.
”Green is the new black”, and the way things are going, it’s also likely to be the colour of success for vendors in the Global Green and Recycled Phone Market.
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