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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