Research and Markets issued a report indicating the global e-waste management market will reach $49.4 billion by 2020. This report estimates the market’s CAGR will reach 23.5 percent or more from 2014-2020. Waste management companies in the Asia-Pacific region comprised the largest revenue share of the report, with European countries placing second.
The growing need for proper e-waste disposal is no surprise. Annual electronics sales are increasing substantially year-to-year, with more than three million cellphones sold in Q3 2015 alone. The increasing number of electronics sales generates more than 54 million tons of e-waste annually.
This market growth is great news for e-waste management professionals everywhere, because it indicates proper e-waste disposal is becoming more commonplace. When choosing to dispose of e-waste, enterprises should partner with a certified electronics recycling company to ensure devices are properly disposed of, instead of taking up space in a landfill.
HOBI International is an R2, RIOS, ISO 14001 certified IT asset management and electronics recycling company. HOBI offers reliable, full-scale electronics remarketing and recycling. We work with enterprises of all sizes to choose the best path for devices at the end of their use.