NEW YORK, Oct. 28, 2015 /PRNewswire/ -- A Perspective on Growth Opportunities
Over the last decade owning electronics has become increasingly linked with the quality of life. As a result, sales and production of electronics have soared worldwide. Advances in technology have brought about a wide variety of products and newer versions each product are being launched constantly. This has resulted in an increase in the rate at which electronics are being discarded, and volumes of waste have increased manifold. Electronic Waste Report show this rise in the quantity of e-waste is a global phenomenon and has given rise to concerns about human and environmental exposure to this type of waste. This has paved the way for the growth of e-waste management services.
- Increased consumerism, growth of the Information Technology (IT) sector, and the high replacement rate of old electronic devices with new ones will stimulate market growth during the forecast period 2015–2019.
- The biggest challenge in Electronic Waste (e-waste) management is collection of waste from consumers. Collection of e-waste requires high awareness among consumers about safe disposal and a strong logistics network.
- E-waste market comprises a huge base of informal recyclers, who represent a threat to the organised collection network. Currently, there are very few organised participants holding a minor share in the overall market.
- The market is full of opportunities as a majority of waste remains untreated. With technology penetration of more than % in urban India, the greatest potential lies in this part of the country.
- Global economic growth is dependent on the manufacturing and services industries, and within this, information and communication and electrical and electronics play a major role. Advancements in science and technology mean that day-to-day life is incomplete without an electronic or electrical device.
- India is one of the largest growing consumer electronics markets globally and will be the fifth largest consumer electronics market by 2025, from its current 12th position. Though electrical and electronic equipment have enhanced the quality of our lives, their usage has also led to the generation of electronic waste (e-waste) that causes health and environmental issues.
- E-waste has a direct relationship with the country's economic growth and overall consumer spending. The purchasing power of millions of people has increases, as economic growth has lifted them from the lower-income group to middle- and high-income groups. According to the National Council of Applied Economic Research (NCAER) findings, the number of middle-income households is expected to touch million by 2015, and by 2025 it is likely to grow to million. Further, only % of middleincome households in India own air conditioners, suggesting that there is a huge % of households into which such goods have not penetrated.
- E-waste includes discarded computer monitors, motherboards, Cathode Ray Tubes (CRT), Printed Circuit Board (PCB), mobile phones and chargers, compact discs, headphones, white goods like Liquid Crystal Displays (LCD)/ Plasma televisions, air conditioners, refrigerators, and so on.
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