Smart Collection Segment is Expected to Dominate the Global Smart Waste Management Market.
According to
TechSci Research report, “Global Smart Waste
Management Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”. Global Smart
Waste Management is anticipated to project robust growth in the forecast period
with a CAGR of 15.85% through 2028. Rapidly growing economies, urbanization and
the increasing population have led (materially intensive) to an increase in the
resource consumption, and consequently the release of large amounts of waste
into the environment. Observing from a global perspective, current waste and
resource management lacks a holistic approach which covers the whole chain of
product design, raw material extraction, production, consumption, recycling and
Smart Waste Management. A scarcity of land for the effective waste disposal and
focus on the energy and resource recovery is driving the market growth.
Smart waste management is the concept that uses sensors in waste to
track live status of city waste collection services when bins are ready to be
emptied, or filled. It also monitors historical data collected by sensors and
databases, which can be used to identify and optimize driver routes, fill
patterns, reduce operational costs, and schedules. Remote monitoring, and IoT based waste bins are
more feasible to collect waste effectively. It also reduces routing and fuel
prices.
Advantage of smart waste management is to use sustainable waste
management and handle waste by monitoring systems with enabling Internet of
Things (IoT), sensors and data analytics. Rapid urbanization &
industrialization is expected to create huge amount of waste and to manage this
waste intelligence waste management systems are required, which is anticipated
to propel growth of the market. Furthermore, rise in smart city initiatives is
anticipated to drive growth of the smart waste management market. For instance,
in 2017, the government of Canada spent $65 million on smart cities in cities
such as Toronto and Vancouver. Rise in environmental awareness toward
sustainable waste management, which fuels growth of the market.
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Figures spread through 188 Pages and an in-depth TOC on " Global Smart WasteManagement Market.”
Based on Method, Smart
Collection is expected to hold the largest share of Smart Waste Management
market for during the forecast period, Construction and Demolition waste across
worldwide is growing healthily whose management involves various activities
such as - monitoring, collecting, transporting, recycling and disposing of the
waste generated during construction, renovation or demolition of buildings or
any other infrastructure. It assists in minimizing and re-using waste materials
such as concrete, soil, wood, glass, plastic, cardboard and metal during
construction activities. Unlike residential waste, construction and demolition
waste materials are inert, heavy and non-biodegradable. Hence, regulatory
authorities require commercial facilities for sorting, treating and filtering
these materials before they can be re-used or decomposed. Increased construction
and demolition activities are catalyzing the demand for the construction and
demolition Smart Waste Management worldwide. Construction and demolition
activities produce large amounts of concrete, wood, plastic and metal waste. As
improper disposal of these materials results in the emission of GHGs,
environmental degradation, and deterioration of the overall health of people,
the adoption of construction and demolition Smart Waste Management practices
has been gaining popularity all over the world.
Based on Region, North
America will dominate the market, There is a generation of 2.01 billion tons of
municipal solid waste per year at the global level, with at least 33% of
that—extremely conservatively—not managed in an environmentally safe manner. Worldwide,
waste generated per person per day averages 0.74 kilograms but ranges widely,
from 0.11 to 4.54 kilograms. Though they only account for 16 percent of the
world’s population, high-income countries generate about 34 percent, or 683
million tons, of the world’s waste.
Global waste is expected to
grow to 3.40 billion tons by 2050, greater than double population growth over
the same period. Overall, there is a positive correlation between waste
generation and income level. Daily per capita waste generation in high-income
countries is anticipated to increase by 19% by 2050, compared to low- and
middle-income countries, where it is expected to increase by approximately 40%
or more. The total quantity of waste generated in low-income countries is
expected to increase by greater than three times by 2050.
Key market players in the Global
Smart Waste Management Market are following: -
- Biffa Group
- Clean Harbors, Inc.
- Covanta Holding Corporation
- Veolia Environment SA
- Waste Connections
- Remondis AG & Co. Kg
- Suez Environment S.A.
- Daiseki Co. Ltd
- Smart Waste Management Inc.
- Republic Services
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“The global Smart
Waste Management market is propelled by several key drivers. The increasing
urbanization and population growth have led to a surge in waste generation,
necessitating advanced solutions for efficient waste management. Governments
worldwide are adopting smart technologies to enhance waste collection,
disposal, and recycling processes, aiming to reduce environmental impact.
Additionally, the growing awareness of sustainability and the need to curb
pollution has prompted businesses and communities to invest in smart waste
management systems. Integration of IoT (Internet of Things) technology enables
real-time monitoring, optimizing route planning for waste collection vehicles,
and minimizing operational costs. The demand for data-driven decision-making,
coupled with the rising adoption of smart city initiatives, further accelerates
the market's growth. As environmental concerns intensify, the Smart Waste
Management market is expected to witness sustained expansion, driven by
technological innovations and a collective global commitment to sustainable
waste practices.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
Smart Waste Management Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast Segmented Method (Smart Collection, Smart Processing, and Smart
Disposal), by Disposal Methods (Landfills, Incineration, Recycling), By Region,
By Competition 2018-2028 has evaluated the future
growth potential of Global Smart Waste Management Market and provides
statistics and information on market structure, size, share, and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities present in the Global Smart Waste Management Market.
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