Citing a recent recycling industry report from Allied Market Research titled, “Global E-Waste Management Market – Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 – 2020,” John Shegerian, Chairman and CEO of Electronic Recyclers International (ERI), the nation’s leading recycler of electronic waste, has issued a public statement announcing that the dramatic growth forecasted in the report is “just the tip of the iceberg for this exponentially growing sector of the industry.”

According to the report, the global E-Waste Management Market is expected to reach an amount of $49.4 billion by 2020, registering a CAGR of 23.5% during 2014 – 2020. In his statement, Shegerian explained that thanks to the constant evolution of consumer electronics, those numbers are sure to continue with exponential growth.

“The constant need for adapting the latest technology is the driving force behind the accumulation of e-waste – the fastest growing sector in the world’s waste stream today,” said Shegerian. “The numbers from this comprehensive analysis by Allied Market Research further prove what we have now been saying for several years. Because it satisfies a perpetually growing need, the e-waste recycling industry is here to stay and continues its upward growth trend. The glut of e-waste is a problem, and effective recycling – when done properly – is proving to be the solution.”

“There is of course, still tremendous room for improvement as well,” added Shegerian, citing the study’s findings that the US still exports enormous amounts of e-waste overseas – usually to developing nations not safely equipped to dismantle the components. “As our industry grows, we do tend to find a number of organizations that don’t recycle ethically or responsibly. Make sure your recycler is certified so that your electronics are properly dismantled, your data is effectively destroyed and all safety and environmental standards are met.”