According to Stratistics MRC, the E-Waste Management Market is valued at $2.4 billion in 2015 and is projected to reach $9.5 billion by 2022 growing at a CAGR of 21.4% from 2015 to 2022. The factors such as rapid product innovations, adoption of latest technologies and agreements are boosting the market growth. Growing market penetration in developing countries, replacement of markets in developed countries and a high undesirability rates are some of the key factors driving the market growth. However, some components such as toxic substances, increasing the pollution of land, air and water are hampering the market growth. As electronic products is rapidly becoming obsolete and are being replaced at a very short life span. This reducing life span of electronic device is however a challenge before the technology industry.
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