According to a comprehensive research report by Market Research Future (MRFR), “Global Smart Waste Management Market information by Type of waste, by Method, by Application and Region – forecast to 2027”. According to the reports, the Global Smart Waste Management Market size is projected to grow at a compound annual growth rate (CAGR) of 24.38 percent, reaching a market size of USD 1.75 billion by 2030.
Smart Waste Management Market Scope:
Smart waste management, simply put, is the process of collecting, transporting, and disposing of waste material in an efficient way with little environmental effects. The usage of smart bins or smart trashes to collect waste materials coupled with a garbage monitoring system helps waste management authorities to effectively manage waste material.
Smart waste management is an affordable solution to effectively manage waste lifecycles in order to augment public health and environment. It is the combination of innovative strategies and advanced technologies which help in the effective recycling, sorting, and disposal of a huge amount of waste in a well-organized and smooth manner. Owing to its alluring features and benefits, it has wide applications in residential, food and retail, healthcare, construction, industrial and manufacturing, and other industries.
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Smart Waste Management Market Drivers
As per the MRFR report, there are numerous factors that are propelling the smart waste management system market growth. These include rapid urbanization, evolving lifestyles, a growing economy, rise in smart city initiatives, the proliferation of sensor technology, technological developments, increasing interest of companies in waste management to maximize the renewable perks of waste, increase in consumer’s purchasing power, and growing e-waste. Additional factors propelling the growth of the market include the increasing concern over the environmental impact of human society, constantly rising waste volume, the rising trend towards smart technology adoption, economic perks of smart waste management, and the adoption of technologies such as pneumatic tubes, fuel switching, RFID, and GPS in smart forms of waste disposal.
On the flip side, the soaring cost, and poor connectivity infrastructure in most underdeveloped and developing economies, may impede the smart waste management market growth over the forecast period.
Smart Waste Management Market Major Key Players
- IBM Corporation (US)
- SAP SE (Germany)
- Enevo (Finland)
- Bigbelly, Inc. (US)
- Waste Management, Inc. (US)
- Ecube Labs Co., Ltd.(South Korea)
- Covanta (US)
- Pepperl+Fuchs Group (Germany)
- OnePlus Systems Inc(US)
- Urbiotica (Spain)
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Smart Waste Management Market Segmentation:
Market by Type
- Smart Collection
- Smart Processing
- Smart Disposal
- Smart Energy Recovery
Market by Solution
- Fleet Management
- Remote Monitoring
- Data Analytics Advanced Reporting
- Network Management
- Asset Management
Services
- Professional Services
- Managed Services
Market by Application
- Residential Municipality
- Industrial
- Commercial
- Construction Demolition
- Energy
- Water Supply Sewage Treatment
Smart Waste Management Market Regional Analysis
Regionally, the global smart waste management market has been segmented into the Asia Pacific, North America, Europe, Middle East Africa, and South America.
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North America earned the highest market share in 2018, with a market value of USD 1,095.0 million. This area was one of the first to adopt the smart bin process, which is a crucial driver of market development. Various leading players in the area are investing in research and development of new technologies and advanced recovery facilities, which are also boosting the market growth in the region.
For the purpose of research, the market in Europe has been classified as Germany, the United Kingdom, France, and the rest of Europe. The demand in Europe is projected to hit the highest CAGR of 20.2% during the forecast period. Europe is predicted to be the fastest-growing market for smart waste management. The region has strong legislation policies on the part of governments in different countries, which are driving market development. In addition, growing awareness of e-waste recycling and government initiatives are some of the factors driving market development.
Major Points from TOC:
- Global Smart Waste Management Overview
- Executive Summary
- Production and Capacity by Region
- Production, Revenue, Price Trend by Type
- Key Players Analysis
Continued…
Report Overview
The following report comprises of –
- Market overview
- Covid 19 Analysis
- Market Dynamic
- Drivers
- Opportunities
- Restraints
- Challenges
- Cumulative Growth Analysis
- Value Chain Analysis
- Segmentation Overview
- By Application
- By End-Users
- Regional Analysis
- Competitive landscape
Reasons for Buying This Report:
- It Provides A Forward-Looking Perspective on Different Factors Driving or Restraining Market Growth.
- It Provides Five-Year Forecast Assessed based on How the Market Is Predicted to Grow.
- It Helps in Understanding the Key Product Segments and Their Future.
- It Provides Pinpoint Analysis of Changing Competition Dynamics and Keeps You Ahead of Competitors.
- It Helps in Making Informed Business Decisions by Having Complete Insights of Market and By Making an In-Depth Analysis of Market Segments.
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