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E-waste and Information Technology Asset Disposition Market Size to Reach USD 115.06 Billion in 2028 | Emergen Research
Tuesday, August 3, 2021
VANCOUVER, BC, July 26, 2021 /PRNewswire/ -- The global E-waste and IT Asset Disposition (ITAD) market size is expected to reach USD 115.06 Billion at a steady revenue CAGR of 8.6% in 2028, according to latest analysis by Emergen Research. Global E-waste and IT Asset Disposition market revenue growth is driven by increasing usage of advanced technologies, electronic devices, and equipment globally, and disposal of these products after end-of-useful life. Rising concerns regarding the harmful effects of E-waste on human health and the environment is a key factor driving market revenue growth. Environmental risks of E-waste are severe as waste contains hazardous and toxic materials, including lead, mercury, chromium, beryllium, cadmium, and chemical flame retardants, which can leach into water and soil. High level of E-waste generation each year is expected to continue to drive revenue growth of the market to a significant extent.
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Rise in demand for advanced and aesthetically pleasing home appliances is also resulting in rapid increase of the amount of discarded consumer electronic devices. This is also turning the E-waste and ITAD market into billion-dollar industry. Accumulation of vast volumes of E-waste is posing a major threat to the environment. Governments and various organizations across the globe are adopting innovative ways to manage the ever-increasing volumes of electronic waste. The urgent need for recycling to reduce these products in landfills and rising awareness among consumers is also having a positive impact on how E-waste is being managed.
Companies generate vast volumes of IT wastes and are currently re-evaluating their procedures for management of IT equipment owing to implementation of stringent regulatory compliances such as HIPAA/HITECH and NIST. Lack of proper plan to dispose of old IT equipment is creating concerns related to identity theft and fraud issues, which is creating rising concerns regarding privacy. Another factor hampering market growth is the additional cost of disposition services. Most companies have no proper disposal plans and several have admitted to delaying implementation of proper plans due to the additional cost of setting a program.
Some Key Highlights From the Report
-- In June 2021, Singapore started a nation-wide E-waste recycling program,
and on July 1(st), certain type of items will be regulated - including
ICT equipment, light bulbs and tubes, large appliances, and batteries.
These items are being regulated due to their widespread use and impact
on the environment. The new program will also make it easy for consumers
to recycle their E-waste.
-- Home appliance segment accounted for a significantly large revenue share
in 2020 as households in developed regions use multiple electronic
devices which are replaced at regular intervals thus generating vast
amounts of E-waste. Examples of E-waste include refrigerators, washing
machines, televisions, air-conditioners, phones, and computers. Rise in
awareness among consumers and practice of sustainable purchasing options
will help reduce such waste going ahead.
-- Media and entertainment segment accounted for a significantly large
revenue share in 2020 as the industry is using the latest devices and
storage equipment to attract more customers. The industry is rapidly
changing due to emergence of new graphics and screens which renders
older versions obsolete. Movie industry finds usage of several storage
devices, sport stadium deploy advanced scoreboards, arcade are deploying
virtual reality technologies and using numerous lighting systems for
special effects, flight simulators and immersive 4D gaming experiences
also require numerous support systems and electronics, and this is
expected to further continue to generate electronic waste going ahead.
-- Asia Pacific market revenue is expected to register a rapid growth rate
during the forecast period as the region is an electronics product
manufacturing hub and a major in the semiconductor industry. The region
accounts for 60% of the global semiconductor sales, of which China alone
accounts for 30%. Increased spending on electronic R&D initiatives in
China, Japan, Taiwan, and South Korea is propelling market growth in the
region. In addition, governments in these countries are taking E-waste
seriously and launching more efficient E-waste management and recycling
programs to tackle the issue.
-- Key players in the market include Dell Technologies, Electronic
Recyclers International, Inc., Hewlett Packard Enterprise, LifeSpan
International, Umicore S.A., Aurubis AG, Tetronics (International) Ltd.,
IBM Corporation, Boliden AB, and Iron Mountain.
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Emergen Research has segmented the global E-waste and ITAD market on the basis of type, source, end-use, and region:
-- Type Outlook (Revenue, USD Billion; 2018-2028)
-- Home Appliances
-- Medical Equipment
-- Laboratory Devices
-- IT Devicesa. Computers/Laptopsb. Serversc. Mobile Devicesd.
Storage Devicese. Peripherals
-- Others
-- Source Outlook (Revenue, USD Billion; 2018-2028)
-- Household
-- Consumer
-- Industrial
-- Others
-- End-use Outlook (Revenue, USD Billion; 2018-2028)
-- IT and Telecom
-- Banking, Financial Services, and Insurance (BFSI)
-- Healthcare Industry
-- Media and Entertainment
-- Aerospace and Defense
-- Educational Institutions
-- Public Sector and Government Offices
-- Manufacturing
-- Others
Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/e-waste-and-information-technology-asset-disposition-market
-- Regional Outlook (Revenue, USD Billion; 2018-2028)
-- North Americaa. U.S.b. Canadac. Mexico
-- Europea. Germanyb. U.K.c. Franced. Spaine. BENELUXf. Rest of
Europe
-- Asia Pacifica. China b. Indiac. Japand. South Koreae. Rest of
APAC
-- Latin Americaa. Brazilb. Rest of LATAM
-- Middle East & Africaa. Saudi Arabiab. UAEc. Israeld. Rest Of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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