London, 30 January 2015 –New versions of hardware are constantly being released, making old computers and phones obsolete and spurring a CAGR of 10.7 percent from 2014-2019 in the Global E-waste Recycling Market, says research firm TechNavio.
About the Report
The latest report by TechNavio draws attention to the high obsolescence rate of electrical and electronic equipment. The average replacement rate has increased with the rise in the buying power of individuals, advances in technology and the booming IT industry.
“Gadgets like cellphones, cameras, PCs and other IT accessories have a replacement rate of no more than five years, which directly impacts the overall growth of this market,” says Faisal Ghaus, Vice President of TechNavio.
The report also emphasizes the growing need to prevent biological hazards. E-waste recycling companies have become more cautious about the biological hazards involved in handling e-waste products. Workers handling the chemicals from e-waste are exposed to serious health risks like damage to the nervous system, cancer, deterioration of metabolism and other similar serious biological effects.
“Increased awareness of the harmful effects of toxic chemicals in e-waste is the primary reason for the adoption of cautious methods by vendors in the market,” says Ghaus.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2019
Market Growth Drivers:
- High Technology Obsolescence Rate
- For a full detailed list, view our report.
Market Challenges:
- Increase in Negative Effects of E-waste
- For a full detailed list, view our report.
Market Trends:
- Need to Prevent Biological Hazards
- For a full detailed list, view our report.
Key Vendors:
- Cimelia Resource Recovery Pte Ltd.
- Electronic Recyclers International Inc. (ERI)
- SIMS Recycling Solutions Ltd.
Other Prominent Vendors:
- Ecomation
- Electrocycling
- E-waste
- Exitcom Recycling
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
