(I-BusinessNews.Com, February 25, 2021 ) According to a new market research report “Smart Waste Management Market by Type (Smart Collection, Processing, Disposal), Component (Fleet Management, Remote Monitoring, Asset Management), Application (Residential, Industrial, Commercial, Construction, Energy), & Region – Global Forecast to 2025”, published by Meticulous Research®, the smart waste management market is expected to grow at a CAGR of 16.6% from 2019 to 2025 to reach $3.97 billion by 2025.
Smart waste management is recognized as a comprehensive solution for the effective management of solid and hazardous waste, produced on regular basis from several resources including residential and municipality, industrial, commercial, and construction and demolition sectors. Growing consumer and government focus towards adoption of advanced and effective waste management technologies, and increasing investments towards smart city initiatives is driving the growth of the smart waste management market. Many of the established companies in waste management solutions market and startups are increasingly focusing on developing consumer-centric affordable solutions for this market.
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Growing concern about hazardous waste disposal and its environmental impact, rapidly increasing industrialization, continuously tightening government regulations & guidelines with respect to waste disposal, and rapidly increasing population along with increasing waste volume are some of the key factors creating greater demand for smart solutions for waste management and disposal. Furthermore, favorable government initiatives including implementation of smart city initiatives and cleanliness awareness campaigns across the globe are also contributing to the growth of smart waste management technology market. However, high cost of connected infrastructure and poor connectivity may hinder the market growth to a certain extent.
The smart waste management market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2025– by type, component, application, and geography. The study also evaluates industry competitors and analyzes their market share at the global and regional levels.
Based on type, the smart disposal segment is estimated to account for the largest share of the overall smart waste management market in 2018. The large share of this segment is attributed to the growing integration of advanced technologies such as IoT, AI, blockchain, and GPS in the next-generation of smart disposal methods for sanitary & biological landfilling, and solar integration.
Buy key industry insights spread across 180 pages with 115 market data tables & 19 figures & charts from the market research report: https://www.meticulousresearch.com/Checkout/91914752
Based on the component, the smart waste management solutions segment is estimated to account for the largest share of the overall smart waste management market in 2019. This is mainly attributed to the consistently increasing need for time and cost-efficient solutions for real-time monitoring and management of waste from all sources.
Based on the application, the residential and municipality segment is estimated to account for the largest share of the overall smart waste management market in 2018. This is mainly attributed to the consistently increasing size of waste majorly from houses, gardens, hospitals, and government and public sectors. On the other hand, the industrial segment is slated to grow at the fastest CAGR during the forecast period due to increasing volume of waste from industrial sector due to rapid industrialization and growing adoption of smart disposal methods in order ensure safe disposal of hazardous waste.
The report also includes extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2016-2019). The smart waste management market has witnessed number of partnerships & agreements in recent years. For instance, in 2018, SenRa (India), a LoRaWAN Network operator and IoT & M2M application & solution service provider partnered with a hardware design company, SmartEnds (Belgium) to develop BrighterBins, India’s first LoRaWAN-enabled smart waste bin solution in order to accurately monitor, dispose, and accomplish waste collection. Similarly, in 2017, Singaporean operator M1 signed a MOU with OTTO Waste Systems Pvt. Ltd. (Singapore), a leading waste management solutions company and SmartCity Solutions to implement Singapore’s first smart waste management system in order to offer efficient cleaning and productivity.
Some of the key players operating in the global smart waste management market are Suez Environmental Services (France), Veolia Environmental Services (France), Enevo (Finland), Smartbin (OnePlus Systems Inc.) (U.S.), IBM Corporation (U.S.), Waste Management, Inc. (U.S.), Bigbelly Inc. (U.S.), Covanta Holding Corporation (U.S.), Pepperl+Fuchs GmbH (Germany), BIN-e (Poland), Evoeco (U.S.), Ecube Labs Co Ltd. (South Korea), Republic Services (U.S.), Sensoneo (Slovakia), and Evreka (Turkey), among others.
TOP 10 COMPANIES IN SMART WASTE MANAGEMENT MARKET @ https://meticulousblog.org/top-10-companies-in-smart-waste-management-market/
Scope of the Report:
Smart Waste Management Market, by Type
Smart Collection
Smart Processing
Smart Disposal
Smart Energy Recovery
Smart Waste Management Market, by Component
Solution
Fleet Management
Remote Monitoring
Data Analytics & Advanced Reporting
Network Management
Asset Management
Services
Professional Services
Managed Services
Smart Waste Management Market, by Application
Residential & Municipality
Industrial
Commercial
Construction & Demolition
Energy
Water Supply & Sewage Treatment
Smart Waste Management Market, by Geography
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe (RoE)
Asia-Pacific (APAC)
Japan
China
India
Rest of APAC (RoAPAC)
Latin America
Middle East & Africa
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Meticulous Research™
chhagan yadav
+91 744-7780008
chhagan.y@meticulousresearch.com
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