SEATTLE (Recycling Monster): The latest research report published by IMARC Group suggests significant growth to global e-waste management market in the upcoming years.
The market is projected to exhibit a CAGR of 11.6% during the period from 2024 to 2032. The market is projected to reach $195.4 billion by 2032. It must be noted that the global e-waste management market was valued at $71.5 billion in 2023.
The volume of electronic waste has witnessed substantial surge, mainly due to the unprecedented rise in the consumption of electronic devices, including smartphones, laptops, tablets, and a myriad of other electronic gadgets. The challenges posed by the increasing accumulation of electronic waste can be addressed only by advanced e-waste management technologies, including artificial intelligence (AI) technologies and robotics.
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By material type the e-waste management market is classified into metal, plastic, glass and others. Metal accounts for the largest market share. The discarded electronic waste contains significant amounts of copper, aluminum and gold.
The fresh implementation as well as strengthening of regulations regarding disposal and recycling of electronic waste by various counties may promote electronic recycling. The Asia-Pacific region will dominate the global e-waste management market, IMARC Group noted.
