Abundance of e-waste is opportunity in disguise
Today’s consumers are only interested in the usable lifetime of their devices and rarely concern themselves with its structural value or potential environmental impact. The rapid industrialization and advancements in technology has therefore led to the accumulation of electrical and electronic waste. To further add to the problem, the lack of regulations addressing e-waste has made APAC a global collection center for disposal.
However, the abundance of e-waste creates significant opportunities for businesses. According to a study by Frost & Sullivan, the APAC e-waste recycling market, worth US$1.85 billion in 2012 and is expected to reach US$4.01 billion in 2017.
Though most countries in APAC have not yet established comprehensive regulations on controlling the disposal of e-waste, efforts are being made to study the current state and potential of implementing the right regulatory infrastructure.
However, the lack of consumer awareness about the hazards of unprocessed disposal of electrical and electronic products hinders the market. Further, the heavy investments required to recover precious metals from e-waste processing deter companies from enter this market.
In this highly competitive market, it is as common to see companies exit the market as it is to see new entrants. The ones that stay afloat are those that understand the need to increase their technological capabilities to maximize their output from recycling.
- Brexit: A Mixed Bag For Indian IT Sector
- VaaS To Dominate Market With Revenue Flow
- India 5th Largest Producer Of E-waste In The World
- Innovative Tech Stimulate Growth For Advanced Test Equipment
- B2B E-Commerce Poised For A Big Leap
- How OEMs, Retailers Can 'Scientifically' Recycle India's E-Waste
- Budget 2016: How Govt Can Address Tax Concerns
- Data-Driven Healthcare: Is India There Yet?
- Mobile Gaming To Reach $7 Bn By 2019
- Designing A Sustainable Digital Strategy