The COVID-19 pandemic brought forward numerous challenges regarding the ever growing workforce. With more and more workers opting ‘work from home’ for an extended period of time, the purchase and demand of digital products such as computers, laptops, smart phones, internet dongles, speakers, and other peripherals is growing with the help of e-commerce platforms.
What happens post pandemic, when the offices start working in full numbers again? It is predicted that E-waste management systems will face an enormous burden once the companies open their office doors for business as usual. Growing trends of teenage digital addiction, easier transactions with digital currencies and online transactions are some of the major key drivers behind the growth of E-waste management systems market.
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E-waste management is the system responsible for the resale, reuse, and recycle of the disposed digital gadgets. With an enormous growth in the digital and electronic industries, the demand for e-waste management services has been rising steadily.
High competition in the field sees players opting for expansion or mergers
The existing competition between reputed and established players in the market is tough. A few of the major players in this market include companies like Waste Management Incorporation, E-Waste Harvesters, Aurubis AG, Desco Electronic Recyclers, Electronic Recyclers International Incorporation, MBA Polymers Incorporation, Enviro-Hub Holdings Limited, etc. Expansion strategy is usually adopted by the competitors to remain competitive.
Governmental initiatives are active in the market and result in even more intensified competition. Hence, a number of companies, like MBA Polymers Incorporations and Desco Electronic recyclers are implementing measures such as joint ventures, mergers, and acquisitions, among other practices as driven strategies to rule the market. As the need for e-waste management increases, new players are entering the market, which creates a stiff competition.
The need for E-waste management services is high in the regions of North America (NA), Asia Pacific (APAC), and Europe (EU). NA and EU are the regions where E-waste generation market is fiercely leading. The pollution rates are continuously and alarmingly rising in NA and EU regions, leading to high growth of E-waste management market.
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