Summary: ITAD industry is seeing immense growth in recent times owing to shortened IT asset refresh cycles, the evolution of technology, the growth of new devices, increased regulatory concerns, and the alarming growth of e-waste generation. ITADs play a significant role in reducing the burden of e-waste. This blog will focus on how environmental concerns have helped ITADs nurture their business.
Climate change and environmental concerns have been hotly discussed due to their widespread reach and impact. In addition, the digital revolution, augmented by the fast pace of technological advancements and the broad reach of high-speed internet connectivity, has increased the frequency at which IT assets are disposed of and replaced.
As a result, around 54 million metric tons of electronic waste were produced globally in 2019. Predictions indicate that by 2030, this number will have climbed by 30 percent to reach 74.7 million metric tons. The growth of Electronic Waste (e-Waste) has contributed significantly to the ever-growing size of our landfills and the release of toxic gases into the air.
ITADs have the potential, expertise, and reach to bring about a massive increase in the recycling of IT assets, & reducing the overall impact of e-waste.
Environmental Concerns That Drive the Growth of ITAD Business
E-waste is harmful, non-biodegradable, and builds up in the land, air, water, and other living things in the environment. It poses a major risk because it is directly responsible for more than 70% of the hazardous compounds found in landfills.
For example, toxic substances are released into the environment when approaches like open-air burning and acid baths are employed to recover valuable elements from electronic components. In addition, this garbage pollutes the air, water, and soil because it contains dangerous chemicals, including lead, arsenic, cadmium, mercury, etc.
Environmental Concerns of e-waste:
End-of-life IT assets usually get dumped in landfills. These assets contain toxic chemicals and non-biodegradable components that seep into and pollute the land. For example, when e-waste gets heated, the toxic and melted plastic fumes rise and pollute the air. Also, hazardous chemicals from landfills seep downwards to pollute underground water. Furthermore, rain causes polluted soil to release hazardous heavy metals into water systems. As a result, it severely pollutes freshwater, marine plants, and other living creatures– leading to dwindling habitats and loss of biodiversity.
How Are Environmental Concerns Driving IT Asset Disposition Business?
Researchers from the Arizona State University and Rochester Institute of Technology estimated that 70% of the energy a typical laptop will consume during its life span is used in manufacturing the computer.
Therefore, repair, recycling, & reuse are the three driving factors behind the concept of R3 that every certified ITAD (IT Asset Disposition Company) pursues. Responsible recycling eliminates or reduces e-waste and helps promote a circular economy, enabling less privileged ones to access good refurbished devices.
A certified IT Asset Disposition company can go a long way in helping businesses meet their sustainability goals and in promoting a circular economy. A certified ITAD utilizes systems and procedures that adhere to local, national, and international e-waste disposal legislation, regulations, and best practices.
ITADs are the catalyst that will play long-lasting effects in our bid to have a circular economy.
ITADs significantly reduce the environmental impact of e-waste, driving the growth of the ITAD industry as a whole and the rise of certified ITADs in particular.
Businesses store a lot of confidential and critical information on their IT assets. It is both legally and morally crucial for businesses to safeguard this accumulated data. Unfortunately, businesses tend to either discard or physically destroy data-bearing devices.
As an expert in device disposal, IT Asset Disposition companies stand a chance to take the right action of opting for physical destruction as a last resort. With responsible recycling and reuse as a focus of every certified ITAD, these devices don’t end up getting dumped into landfills. Data Sanitization is an approach to destroy data irreversibly and renders devices reusable. ITADs utilize simple DIY tools to sanitize the data and make the device ready to be reused.
Once the media device has been sanitized, the devices can be resold, donated, or repurposed. This option of reusability carries immense potential, as businesses can derive residual value by reselling the devices. This scenario not only reduces the mining burden but also reduces the energy cost of IT Asset Disposition.
Studies estimate that only 17% of the 53.6 million tonnes of e-waste produced in 2019 was recycled. ITADs have the potential, expertise, and reach to bring about a massive increase in the recycling of IT assets, reducing the overall impact of e-waste.
For example, a PC may be old, but its motherboard and chips might still contain parts that can be reused. In addition, there are many different materials present in them that can be melted and reused.
A circular economy produces and consumes goods that prioritize sharing, reusing, repairing, and recycling already manufactured goods for as long as possible. IT Asset Disposition companies are the catalyst that will play long-lasting effects in our bid to have a circular economy. The assets can be sanitized and reused for as long as they can generate some value, and then they can be recycled for parts and disposed of in an environmentally sustainable way.
ITAD businesses are a vital cog in reducing e-waste drastically. At a CAGR of 12%, the size of the worldwide IT asset disposal market, which was estimated at USD 18,572 million in 2021, is anticipated to rise to USD 51,377 million by 2030.
Learning Curve: ITADs for a Sustainable Future
Profitability & Sustainability can go hand in hand; ITADs have made this once-unheard combination of words possible. In addition, they have been at the forefront of the charge toward an environmentally sustainable IT asset disposition. As a result, ITADs can significantly reduce e-waste that pollutes the environment and pave the way for a better future.
It’s time for businesses to look beyond conventional methods and adopt an ecological approach to waste management. The environmental concerns listed in the blog and the ever-evolving technology will continue to drive the growth of the IT Asset Disposition industry!