Press release
Waste Management Software Market: Historical, Current, and Projected Size of the Market
Management of waste has been a critical concern for the sustainable growth of a country. Waste management is a process of collection, transportation, and disposal of sewage, garbage, and other waste products. Waste management is essential for controlling different types of pollution such as water, air, soil etc. Food waste is biodegradable and can be used for production of compost.Additionally, waste generated from hospitals and other industries can be recycled. Therefore, proper management of waste is important. Waste management software is used by waste management organizations to plan waste storage, transportation, and disposal and to implement strategies for recycling of materials. The software is used to manage communication with customers and contracts as well as billing and payments.
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Increase in smart city initiatives and strict regulations and compliances for the protection of environment are driving the global waste management software market. Moreover, governmental norms and regulations to curb greenhouse gas emissions is expected to boost the waste management software market.
Furthermore, initiatives undertaken by the governments to create awareness regarding waste management through various advertisements, programs, and social networking sites are projected to enhance the global waste management software market during the forecast period. However, high initial cost of waste management software and issues related to accuracy are hampering the growth of the market. Trend for the global waste management software market include development in software system to improve overall efficiency. This factor is anticipated to expand the waste management software market globally.
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The global waste management software market can be segmented on the basis of software type, component, technology, application, and geography. Based on software type, the waste management software market can be divided into waste hauling software, waste tracking software, route management software, scale software, recycling software, maintenance software, and others. The global waste management software market can be bifurcated, in terms of component, into cloud-based software and on-premise software. In terms of technology, the waste management software market can be classified into Bluetooth, real-time locating systems (RTLS), radio frequency identification (RFID), Wi-Fi, and others.
Wi-Fi technology is projected to be in high demand due to its capability of serving an increasing number of clients with the existing equipment. On the basis of application, the waste management software market can be categorized into retail, consumer goods, manufacturing, healthcare, education, and others. Geographically, the waste management software market can be fragmented into North America, Asia Pacific, Europe, Middle East & Africa, and South America. Countries in North America comprising the U.S., Mexico, and Canada constitute the dominant share of the waste management software market in the region.
This is due to the presence of a large number of RFID and RTLS providers based in U.S. Furthermore, Europe is estimated to be among the major adopters of waste management software during the forecast period. The waste management software market in Europe is in its promising stage. Due to strict regulations imposed by the European Commission for management of waste, the waste management software market in the region is expected to experience continuous growth. Additionally, Asia Pacific is also projected to witness substantial growth in the global waste management software market. Countries in Asia Pacific such as China, Japan, Singapore, and India have started working on smart city projects supported by the rise in adoption of technology in these countries. Furthermore, Asia Pacific is the leading producer of metropolitan solid waste. This contributes the waste management software market in the region.
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