Growing concerns about the harmful effects of e-waste on human health and the environment and implementing regulations
VANCOUVER, BC, CANADA, May 9, 2022 /EINPresswire.com/ — The Global Electronic Waste and IT Asset Disposal (ITAD) Market the size is expected to reach USD 115.06 billion with a stable revenue CAGR of 8.6% in 2028, according to the latest analysis from Emergen Research. E-waste and ITAD market revenue growth is driven by the rollout of regulatory compliance and increased awareness of the negative impact of e-waste on health and the environment. In 2019, approximately 54 million tons of electronic waste was generated worldwide. E-waste contains 75% of environmentally hazardous waste found in landfills and less than 20% is recycled each year. Growing focus on more efficient e-waste management and disposal of IT assets is expected to support the market growth in the future.
Consumption of electronic devices continues to grow at a dramatically rapid rate, and the Consumer Technology Association has stated that households in the United States own up to 24 electronic products. The constant development and introduction of new and more innovative electronic devices and the reduction in the cost of these devices is leading to increasing consumer adoption. As devices become more advanced, older versions become obsolete. To reduce e-waste, many countries have passed laws prohibiting e-waste from going to incinerators and landfills. An estimated 70% of heavy metals in landfills in the United States come from electronics, and this trend is expected to continue.
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The competitive landscape of the report has been formulated considering all the essential parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial condition, market position and expansion plans. The report also examines in detail recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government agreements, and partnerships, among others. The report also sheds light on recent technological developments and product advancements in the Electronic Waste and IT Asset Disposal (ITAD) market.
Some major companies in the market report include Dell Technologies, Electronic Recyclers International, Inc., Hewlett Packard Enterprise, LifeSpan International, Umicore SA, Aurubis AG, Tetronics (International) Ltd., IBM Corporation, Boliden AB, and Iron Mountain.
In July 2021, S2S Group, which is an ITAD company, expanded its operations in London by acquiring the assets and customer base of Data Eliminate Ltd. The acquisition will enhance S2S Group’s presence in London with immediate effect. The company has also invested $2.04 million to purchase a secure warehouse and office complex in Rotherham.
The computing device segment accounted for the largest share of revenue in 2020 as new technologies are released every year and Gen X and Millennials are obsessed with gadgets. The most common computing devices found in the trash are desktop LCD monitors, smartphones. and laptops.
The consumption of these devices is not decreasing and it has been observed that an average mobile phone user replaces their phone every 18 months and 1 billion mobile phones, and 300 million computers go into production every year. This figure is expected to increase further in the coming years.
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The global Electronic Waste and Information Technology Asset Disposal (ITAD) market is broadly segmented on the basis of different product types, application range, end-use industries, key regions and an extremely competitive landscape. This section of the report is intended solely for readers seeking to strategically select the most suitable and lucrative segments of the e-Waste and Information Technology Asset Disposal (ITAD) industry. Sector analysis also helps companies interested in this sector to make optimal business decisions and achieve the desired goals.
Emergen Research has segmented the global e-waste and ITAD market based on type, source, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
Source Outlook (Revenue, USD billion; 2018-2028)
End-Use Outlook (Revenue, USD Billion; 2018-2028)
IT and Telecom
Banking, Financial Services and Insurance (BFSI)
The health industry
Media and Entertainment
Aeronautics and Defense
Public sector and government offices
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The report further examines the market in key regions of the world with respect to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of leading players in the regions. The report also covers the expansion plans undertaken by the companies in the regions under the regional analysis section.
Key market regions include:
Rest of EU
Rest of APAC
Rest of Latin America
Middle East and Africa
United Arab Emirates
Rest of MEA
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Key questions answered by the report:
What will be the estimated growth rate of the Electronic Waste and IT Asset Disposal (ITAD) market by 2028?
Who are the key market distributors, vendors and manufacturers?
What are the driving and restraining factors for the Electronic Waste and IT Asset Disposal (ITAD) market growth throughout the forecast period?
What are the current and future market trends of the Electronic Waste and IT Asset Disposal (ITAD) market?
What are sales and price analysis of the product by types, applications and regions?
What are the expected opportunities for companies and new entrants in the years to come?
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