ITAD Trends for a New Decade
CDR Global looks into the future of IT asset disposition.
The 5G network is already at work in a few select markets, but by the end of the 2020s we expect that more of North America, Europe, and parts of Asia will be covered with 5G than not. This network improves on 4G by allowing vastly more bandwidth with dramatically less latency. When it’s finally in place, the 5G networks will finally allow us to realize autonomous vehicles, interactive VR, and almost immediate sharing of data files of all sizes.
Internet of Things
The Internet of Things (IoT) is going to be mentioned a lot, so get used to hearing and using it in conversation. If you’re not sure what the term means, we’ve got your back. It refers to how more and more aspects of our lives connect to the Internet and interact with each other.
Your smart watch, your refrigerator, your car, the Roomba – they’re all going to be interconnected. This raises a number of different issues, chief among them being security and bandwidth concerns, but it also offers a level of everyday convenience that we’ve never before experienced.
Reduction of in-house servers, land-line phones
On the business-side of the predictions, it looks like the next decade will very likely see the end of landlines in most offices. As networks develop, what happened in our homes will simply extend to the workplace and all phones will go mobile. Cloud-based hosting will also expand, meaning that very few operations will be maintaining their own physical servers.
Emerging Economic Regions
Global shifts in economic and demographic groups aren’t a new concept, but it does seem like there is somewhere or someone on the up-and-coming list. In the next decade we’re going to see development in the economies of Brazil, Russia, India, and China that will shift global trade. Countries like Thailand, Poland, Vietnam, and South Africa are also poised to become emerging markets that will experience rapid growth changing global consumption patterns as their economies develop.
In predicted demographic shifts, about 2.56 billion people will be between the ages of 15 and 34 during the 2020’s, and 61% of those live in Asia. This population segment, commonly referred to as Millennials and Gen Y in the US and Europe, has already shown a markedly different set of beliefs, values, and lifestyles when compared to previous generations. We can expect a similar shift in attitudes as this group comes of age and flexes its collective muscle across the other hemisphere.
So how does any of this relate to ITAD?
In our industry, we need to pay attention to and get in front of important changes. Waves of change, be it social, technological, environmental, or even economic, can make a difference as it relates to when and how people or organizations choose to get rid of their hardware. It’s estimated that the ITAD industry will be worth over $21 billion by 2022, and here’s a few ways we think the changes above are going to impact our industry and bring us to record capacity:
5G is going to cause a huge change in every market it touches. Connectivity will become ubiquitous, and most of the hardware that you’re now using to connect to the internet (phones, tablets, laptops, etc.) will become old news as 5G-compatible hardware will be the hot item. This means that for hardware recyclers, volume will be on the rise. We’ll need to find more avenues for repurposing usable equipment or breaking down pieces that have reached the end of their lifespan. Challenges will abound, but at CDR Global we love a good challenge.
Internet of Things
The Internet of Things (IoT) is going to present the next challenge, and much of that is related to data security. Until now, you just had to worry about your phone, tablet, or computer holding sensitive data. Now you have to make sure that your Bluetooth coffee maker and Roomba aren’t giving up your secrets when they die. This means that to make the most of this new situation, we’ll need to market ourselves to families and even individuals, not just businesses. Education, marketing, and a more personal touch to our service will be required, but it’s going to be an exciting time.
The beauty of the ITAD industry is that it isn’t just one thing – It’s a web of services, products, vendors, and markets. As other parts of the world develop, they’ll be looking to outfit their new technological capacity. Being new players in the tech market also means that before long they’ll be upgrading their gear like everyone else, and they’ll need ITAD vendors to help recycle or repurpose that hardware. The development of emerging economies means that we should definitely begin making inroads to help these new customers connect with our more established marketplaces.
What’s on your ITAD plan for the next decade? You can always count on change, so when it comes time to upgrade or unload old hardware, be sure to give CDR Global a call. As that tech-horizon gets closer and closer to present day, we’ll be there to help you make the most of this new landscape.