Smart Waste Management Market Research Report, Size, Share, Trends, Demand, Growth & Review
Posted by Animesh Rao on October 12th, 2022
Global Smart Waste Management Market Research Report – by Component (Hardware, Solution (Data Analytics and Reporting Solution, Remote Device monitoring, Fleet Management, Network Management, Asset Management and others) and Services), Type of waste, Method, Application (Healthcare, Industrial & Manufacturing, Construction, Food & Retail, Residential and Others) and by Region – Forecast till 2030. 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. This Smart Waste Management market research report tracks all the recent developments and innovations in the market. It gives the data regarding the obstacles while establishing the business and guides to overcome the upcoming challenges and obstacles.
Increasing number of smart city initiatives is one of the factors responsible for the growth of the market during the forecast period. With the increased awareness among the leading countries regarding the need for sustainable growth, smart cities have been conceptualized and built across the globe to serve as models of modern development. Cities such as Tokyo, New York, and Paris have already made great strides in this model through the adoption of electric vehicles with zero emissions.
In fact, the cumulative sales of electric vehicles have almost reached 50% of the total sales in Shanghai. Along with these initiatives to reduce air pollution and consumption of fossil fuels, there is an increasing requirement for reducing and better managing the total waste production in a smart city. Landfilling and waste incineration have been the main methods of waste disposal in cities until recently. Smart waste management products, such as IoT-based smart bins, help in sorting waste into biodegradable and non-biodegradable waste in an enhanced manner through smart waste segregation process.
The following report comprises of –
According to projections, the worldwide smart waste management industry would see challenges due to a lack of efficient connection and expensive starting costs.
Smart Waste Management Market Opportunities:
Increasing acceptance of technology advances such as the Internet of Things (IoT) for trash collection, as well as an increase in the number of people using them in developing nations, are expected to provide profitable opportunities for market participants over the forecast timeframe.
Smart Waste Management Market Segmentation:
Based on the type of waste, the smart waste management market has been segmented into solid waste, special waste, e-waste, and others.
Based on the method, the smart waste management market has been segmented into smart collection, smart processing, smart energy recovery and smart disposal. The smart collection segment is sub-segmented into RFIS, fuel switching, GPS routing systems, and vacuum systems. The smart processing segment is further sub-segmented into mechanical biological treatment, RFD, and advanced MRFs.
Based on the application, the smart waste management market has been segmented into manufacturing, food & retail, healthcare, construction, industrial and others.
Smart Waste Management Market Regional Analysis:
The regional study of the global smart waste management market spans across Asia Pacific, North America, Europe, and Rest of the World. North America is the largest market for smart waste management trailed by Europe. The technological advancements in the region are likely to dictate the future trajectory of the smart waste management market in the region.
Asia Pacific is expected to witness positive growth through the forecast period. The consolidation of developing economies in the region is prognosticated to favor the expansion of the smart waste management market over the next few years.
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Smart Waste Management Market Key Players :
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About the AuthorAnimesh Rao
Joined: June 1st, 2021
Articles Posted: 154
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