The current IT market is a highly challenging field. It is clear to everyone that the market, partly due to global circumstances, is going through a relatively tough period. Nevertheless, as the CEO of Flex IT, I look ahead with confidence to the coming years. Positive developments are taking place, both in the market and in European legislation, which convince me that our business is on the right track.
We notice that the market for refurbished IT hardware is gaining more ground in Europe. Consumers, in particular, are driving this growth, with a demand for more affordable yet reliable devices that also take into account their environmental impact. Moreover, small and medium-sized businesses, startups, students, and young professionals are increasingly choosing refurbished equipment for their daily tasks. A significant growth is predicted for the global market of refurbished computers and laptops, with an estimated annual compound growth rate of 12% in Europe alone between 2019 and 2027.
Furthermore, within the European Union, there is a strengthened commitment to sustainability. This is evident through the adoption of legislation that not only aims to reduce electronic waste but also empowers consumers to repair and extend the lifespan of their devices. Examples of this include the “Right to Repair” legislation, which requires manufacturers to provide documentation, software, and parts necessary for repairing electronic devices. This makes it easier for consumers to engage external companies for repairs or to repair their devices themselves. Additionally, there are new regulations that mandate portable device batteries to be removable and replaceable by consumers.
Considering the current situation, these developments, combined with Flex IT’s adaptability, reassure me that the market is recovering, and we, as a circular IT distributor, are on the right path.