Global Smart Waste Management Market – Overview
The global Smart
Waste Management Market is expected to exhibit a strong 18.6% CAGR over the
forecast period from 2018 to 2025, according to the latest research report from
Market Research Future (MRFR). The global smart waste management market is
expected to reach a valuation of USD 7.8 billion by 2025. The report presents a
detailed overview of the global smart waste management market to readers,
illuminating every aspect of the market in order to provide a comprehensive
overview of the market.
The historical growth statistics
of the global smart waste management market are given in detail in the report,
giving readers a clear picture of the growth trajectory of the global market.
The major players operating in the global smart waste management market are
also profiled in the report, in order to give readers a complete overview of
the global smart waste management market’s competitive landscape. The impact of
the COVID-19 pandemic on the global smart waste management market is also
assessed in detail in the report.
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Smart waste management refers to
processes used to sort and dispose of waste materials in such a manner as to
complete the process efficiently and without hurting the environment in any
way. The environmental impact of waste management has come to the fore in
recent years, with governments all over the world doing all they can to reduce
the environmental impact of their garbage. This has led to a growing demand for
smart waste management technologies and procedures that don’t hurt the
environment. This is likely to be a major driver for the global smart waste
management market over the forecast period, as the environmental impact of waste
products can be quite high. Gases generated in waste can cause significant
greenhouse warming and can also be toxic. This has driven the demand for
solutions that can prevent the ill-effects of waste on the environment. This is
likely to be a major driver for the global smart waste management market over
the forecast period.
The growing use of smart waste
bins for monitoring and management of waste disposal is also likely to be a
major driver for the global smart waste management market.
Impact of COVID-19 on the Global Smart Waste Management
Market at: https://www.marketresearchfuture.com/report/covid-19-impact-smart-waste-management-market
Competitive Leaderboard:
Leading players in the global
smart waste management market include Urbiotica, OnePlus Systems Inc.,
Pepperl+Fuchs Group, Covanta, Ecube Labs Co. Ltd., Waste Management Inc.,
Bigbelly Inc., Enevo, SAP SE, and IBM Corporation.
In February 2019, IBM announced a
new portfolio of IoT solutions that combine team advanced analytics and AI to
help organizations such as the Metropolitan Atlanta Rapid Transit Authority
(MARTA) to improve their maintenance strategies. These solutions will be helpful
for organizations in asset-intensive industries such as chemicals, oil &
gas, energy & utility, manufacturing, and transportation.
In May 2018, SAP introduced an
innovation kit that helps minimize waste to maximum margin with SAP Leonardo.
SAP Leonardo uses machine learning capabilities to reduce waste significantly
and move closer to the goal of zero waste
In May 2018, Bigbelly Inc.
partnered with Future Street Ltd. to support the growth of Bigbelly smart waste
and recycling system. It has signed a multi-region license agreement with
Future Street Ltd. to invest in sales and marketing programs, regional event
participation, business development initiatives, and localized strategic
operational support for developing its business across the Middle East and
Europe.
In February 2018, Enevo expanded
its business waste and recycling services in the UK. It has provided its
services to the UK McDonald's franchise with seven locations and helped them to
reduce their waste collection costs by 12% in six months.
Segmentation:
By component, the global smart
waste management market is segmented into hardware, solutions, and
services.
By type of waste, the global
smart waste management market is segmented into solid, special, and
e-waste.
By method, the market is segmented
into smart collection, smart processing, smart energy recovery, and smart
disposal.
By application, the global smart
waste management market is segmented into healthcare, industrial and
manufacturing, construction, food and retail, residential, and others.
Regionally, the
global smart waste management market has been segmented into the Asia Pacific,
North America, Europe, Middle East & Africa, and South America.
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.
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Report Details at: https://www.marketresearchfuture.com/reports/smart-waste-management-market-994
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