The global e-waste management market is projected to account for 63.705 million metric tons by the end of 2025, with a CAGR of 4.1% over the forecast period 2017 to 2025, according to a new report by Million Insights. The declining average lifespan of consumer electronic devices and the increasing number of machine to machine (M2M) connected devices are anticipated to increase the demand for electronic components. Thus, it is expected to fuel the demand for e-waste management systems in the forthcoming years. Additionally, with the rising demand for up-gradation in technologies, smart devices demand are increasing. As a result demand for electronic components such as sensors, chips, resistors and diodes,are also increasing, which in turn expected to generate huge amount of e- waste Thus, projected to boost the market growth in the upcoming years. Furthermore, manufacturers are continuously making efforts to reduce e-waste. For instance, Dell has launched an initiative, in which they will manufacturer electronics components and devices from recycled electronics. These types of initiatives are anticipated to amplify the growth of e-waste management market in the forthcoming years.
Growing implementation of cloud platforms, big data and IoT technologies in organizations, will increase the demand for electronic components and as a result, drive the demand for e-waste management solutions. Additionally, with the increasing volume of e-waste and the stringent government regulation are projected to augment the market growth. Furthermore, the rising number of collaborations and strategic partnerships among the leading players in the market are anticipated to fuel the market growth, during the forecast period, 2017 to 2025. For instance, Umicore N.V. is a leading e-waste management company that has partnered with the Audi in 2018. Furthermore, with the help of partnership, Umicore N.V. will improve the recycling process of Audi car batteries, which, in turn, is expected to reduce the huge amount of e-waste and material cost.
The rising disposable income, increasing population, and online channels has led to an increased the adoption of home appliances and electronic products. Thereby, increasing the demand for electronic components and as a result expected to generate the huge amount of e- waste. Thus, driving the e-waste management market growth. Additionally, now consumers are shifting from analog to digital technologies such as from monitor screen to flat-screen televisions, which is expected to increase the volume of electronic devices as well as components. Thereby, fuelling the demand for e-waste management systems. Additionally, the rising number of collaborations among leading players of the market such as HP, Cisco and Dell are projected to create a huge opportunity for the market. Furthermore, a growing number of electronic devices, which require constant repairs or become obsolete, are expected to generate a huge demand for e-waste management.
The updation in the policies of government regarding the electronic scrap generation and its recycling are expected to bolster the market growth. In Europe, cell-phones, TV, computers, and fridges, are the top electronic devices, which generate the highest amount of e-waste in the region. For example, all electronic devices manufacturers have been approved by the European Union (EU) and they have to take responsibility for the recycling of products. These types of initiatives are expected to create a huge opportunity for the market in the region.
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Further key findings from the report suggest:
• The metal segment has captured the largest market share in 2016, owing to the high incorporation of metal in electronic devices.
• The consumer electronics segment has accounted for the largest market share in 2016 and expected to see significant growth, over the forecast period. The declining lifespan of consumer products and advancements in the features of products are expected to increase the adoption of advanced electronic components. Thereby, fuelling the segment growth in the upcoming years.
• The disposal segment has captured the largest market share in 2016, owing to the development in the disposing process.
• The recycling segment is expected to see significant growth with a CAGR of 3.0%, during the forecast period, 2017 to 2025, owing to the rising number of initiatives taken by NGOs, in order to reduce the e-waste.
Million Insights has segmented the global e-waste management market on the basis of processed material, source, application, and region:
Processed Material Outlook (Volume, Million Metric Tons, 2014 - 2025)
Source Outlook (Volume, Million Metric Tons, 2014 - 2025)
• Industrial Electronics
• IT & Telecom Equipment
• Networking Cards/Equipment
• Digital Boards
• Medical Equipment
• Monitoring and Control Equipment
• Consumer Electronics
• Household Appliances
• Handheld Electronics
• IT Accessories
• Laptops Cases
• USD memory Sticks
• IT Equipment
Application Outlook (Volume, Million Metric Tons, 2014 - 2025)
Regional Outlook (Volume, Million Metric Tons, 2014 - 2025)
• North America
• Asia Pacific
• South Korea
• Latin America
• Middle East & Africa