A report from Research and Markets indicates the electronics recycling market will exceed $30 billion within the next five years. The firm reports overall electronics recycling revenue will reach $32.4 billion by 2022.
When a new electronic device is introduced to the market, an older electronic device is no longer needed. With the number of new devices increasing each year, more users and enterprises are discarding older devices that are no longer in use.
The electronics recycling market’s anticipated growth is a result of shorter device life cycles, growing knowledge of e-waste disposal regulations and the repercussions for violating e-scrap disposal legislation. As more users and companies choose to upgrade their devices, more will seek reliable electronics recycling vendors to safely recycle and refurbish their retired devices.