e-Waste (electronic waste) refers to discarded or repurposed electronic devices that are old or unable to be used. Examples of electronic waste are mobile phones, computers, and televisions, but they even include cables, wire,, batteries, and so on. e-Waste management is important because as technology advances, we need to manage and properly dispose of the devices and data we don’t use anymore.
The e-Waste Management Global Market Report 2024 outlines in detail the current status of the e-Waste industry worldwide, the growth in the market compared to 2023, and what to expect for the future. e-Waste Management is here to provide you with the summary of that detailed report so that you feel confident in knowing what the future holds in terms of our technology.
State of the e-Waste Management Industry
By the end of 2024, the electronic waste industry is expected to grow to $70 billion. In 2023, the industry stood at $60.25 billion. This growth accounts for a compound annual growth rate of 16.2%. Various factors contributed to this growth, including increased electronic device production, increased pressure on corporations’ social responsibility, environmental concerns, EPA requirements, state regulations and more.
The Global e-Waste Industry
Within the e-Waste Management Global Market Report, countries included are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, the United States of America, Canada, Italy, and Spain. Europe accounted for the largest region in the e-Waste management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the 2024 forecast period.
In terms of global advancements, Australia created a new recycling software that minimizes challenges with a simplified inventory upload. Furthermore, in 2023 we saw a few electronic waste management companies merge.
The Future of the Electronic Waste Market
By 2028, the industry is predicted to reach $118.32 billion worldwide – a compound annual growth rate of 14%. Factors such as data security and environmental impact are helping to fuel the industry’s growth as consumers and businesses seek cleaner processes and better fulfill our social responsibility.
The Impact of Improper e-Waste Disposal
As mentioned above, there are precautions that you should be aware of in regard to electronic waste. Negative environmental impacts have been traced to improper disposal of electronic devices. For example, toxic additives like mercury, seep into groundwater harming wildlife and disrupting food cycles. Furthermore, improper disposal has been recorded to potentially harm the human brain and nervous system with those same elements getting into groundwater impacting the food we grow and the food livestock consumer. These further support the goal of improving our e-Waste management processes for businesses and individuals so we can continue to uphold our social responsibility.
e-Waste Management Overview
Overall, the e-Waste management industry is rapidly growing, and for good reason. As we satisfy the need to make technological advancements, we will have an identical need to properly dispose of the old devices. When it comes to proper disposal, relying on companies that not only dispose of the device but safely remove that device’s sensitive information is critical. w-Waste, LLC in Hudson provides effective e-Waste solutions for businesses in need of technology upgrades. Find security in e-Waste, LLC for all your company’s electronic recycling services and ensure that you are protecting yourself, your company, and the environment.
