Smart Waste Management Market was Estimated at USD 1.12 Billion in 2016, and is Projected to Reach USD 4.44 Billion By 2025

The waste management market comprises the solid wastes discharged from residential & commercial societies, streets, hospitals, public places, and other institutions. Solid wastes can cause severe environmental hazards resulting into the rise of toxic elements and depletion of oxygen in atmosphere. Thus, increasing demand for clean surrounding and sustainable environment develops solid waste management as an emerging field over the forecast period. Additionally, stringent environmental regulations by government and rising concern towards environment, IT corporate industries, and others industries are implementing several smart waste management process. The process includes processing and re-processing, collection of waste, recycling and ultimately resulting into efficient disposal.

The Smart Waste Management market was estimated at USD 1.12 billion in 2016, and is projected to reach USD 4.44 billion by 2025, growing at a CAGR of 16.7% over the forecast period. Government initiatives to decrease illegal dumping coupled with the implementation of sustainable process for managing waste is expected to propel the global market growth. Furthermore, growing adoption of recycling techniques and Waste to Energy (WTE) incineration is also expected to further fuel the growth.

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Resource Conservation and Recovery Act (RCRA) from EPA has been introduced with an objective of reducing open dumping and hazardous and nonhazardous waste management. According to UNESCAP, the ASEAN nations have witnessed an annual urban population growth rate of around 3% in the past few years. The shifting focus of rising population towards sustainable power generation from left-over materials, has anticipated the industry growth. Furthermore, Climate Change Act of 2008, launched by UK government focuses on reducing UK’s GHG emissions to 80% by 2050, thereby, various government initiatives coupled with growing awareness towards environment protection has been projected to augment the industry over the forecast period.

Growing interest of industries in waste management along with technological developments towards maximizing the renewable benefits of waste are expected to positively impacting the market. Rising e-waste accompanied by growing purchase power of consumer is another factor driving theglobal market. However, the high installation & operational cost involved is anticipated to act as a major hindrance to the market growth.

On the basis of type of waste, the report includes the market share, revenue, and growth rate of each type, primarily split into

• Solid Waste
• Special Waste
• E-Waste

Based on method segment, the report includes the revenue, market share and growth rate of each type, primarily split into

• Smart Collection
• Smart Processing
• Smart Energy Recovery
• Smart Disposal

Smart collection segment has been further bifurcated as Radio Frequency Identification technology (RFID), GPS routing systems, vacuum systems, and fuel switching. Smart processing segment is further segmented as mechanical biological treatment, advanced MRFs, and RDF Facilities, while smart energy recovery segment has been segregated as Waste to Energy (WTE), and Waste to Fuel (WTF). Smart disposal is also segmented as sanitary landfills, bioreactor landfills, and landfill and solar integration.

On the basis of application, the report displays the revenue, market share and growth rate of each type, primarily split into

• Manufacturing
• Food & Retail
• Healthcare
• Construction
• Industrial
• Others

Geographically, the global market report is segmented into North America, Europe, Asia Pacific, the Middle East and Africa and Latin America, with revenue (Billion USD), market share and growth rate of smart waste management market for these regions, from 2015 to 2025 (forecast):

• North America: U.S., Rest of North America
• Europe: Germany, France, UK, rest of Europe
• Asia Pacific: China, Japan, India and Rest of Asia Pacific
• Middle East & Africa: GCC, North Africa, South Africa and Rest of MEA
• Latin America: Brazil and Rest of Latin America

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North America region has been anticipated to dominate the global market owing to the increasing investment for developing novel and innovating techniques for solid waste management. Extensive R&D activities has further offered opportunities for rise in the regional competition. Asia-pacific region has been projected to witness a significant growth rate over the forecast period owing to the increasing awareness and popularity for WTE & WTF sectors. Growing awareness pertaining to land shortage and environmental hazards has also fueled the smart waste management market growth.

Key market players dominating the global smart waste management market include IBM Corporation, Harvest Power Technologies, Suez Environment, SAP SE, Waste Management, Inc., Enevo Oy, Covanta Energy Corp., Enerkem Inc., Veolia North America, Recycle Smart Solutions, Republic Services, and BigBelly Solar, Inc.

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