Explore Business Standard
Circular electronics business model, comprising product design to recycling, can create a total addressable market of up to USD 20 billion by 2035, a joint report by industry body ICEA and Accenture said on Monday. According to the report, fostering multi-brand repair services, defining refurbishment standards, and creating a product as-a-service framework can create 1.1 lakh high-quality formal sector green jobs and reduce greenhouse gas emissions by 1.6 million tonnes from smartphones and laptops by 2035. "A total of six circular business models, including circular design, repair, and resell, etc., can unlock an untapped revenue potential of USD 7 billion by 2035. The projected market size for these circular models is valued at USD 13 billion by 2035. Yet, the total addressable market, achievable through the public and private partnerships, increases it to USD 20 billion," the report said. The report was released by the Ministry of Electronics and IT Secretary Alkesh Sharma. "T