Press release
Smart Waste Management Market Latest Trends, Technology Advancement and Demand 2020 to 2025
Smart Waste Management Market - Growth, Trends, And Forecast (2020 - 2025)Smart Waste Management market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2020 to 2025 are profiled in this report.
The smart waste management market was valued at USD 1.77 billion in 2019 and is expected to reach USD 6.52 billion by 2025, registering a CAGR of 25.68%, during the forecast period of 2020-2025.
The Smart Waste Management market is highly competitive and consists of a number of major players: Suez Environmental Services, Veolia Environmental Services, Enevo, Smartbin (OnePlus Systems Inc.), Bigbelly Inc., Covanta Holding Corporation, Evoeco, Pepperl+Fuchs GmbH, IBM Corporation, BIN-e and Others
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Scope of the Report
The smart waste management market covers the trends that are promoting the growth of technologies, such as sensors, RFID, GPS, cloud-based software solutions for effectively managing the waste (from collection to disposal) generated across residential and commercial sectors. The commercial sector includes waste generated from the food and beverages industry, pharmaceutical industries, healthcare industries, paper industries, electronics manufacturers, among others.
Key Market Trends
Smart Waste Collection Through IoT to Contribute to the Market Growth
- In the smart collection segment, the emergence of IoT has revolutionized and addressed operational costs, for the waste handling companies. The companies that offer smart solutions for waste collection primarily focus on three solutions - intelligent monitoring, route optimization, and analytics.
- By deploying sensors, network infrastructure, and data visualization platforms, waste management companies have been able to generate actionable insights, to make informed decisions.
- By using fill level sensors (sometimes also cameras) near the trash bins, companies have been able to plan the fleet trucks in accordance with the volume of trash in bins, thus reducing the unnecessary fleet fuel consumption and contributing to reducing carbon emissions in cities.
- Municipalities of a few cities across the United States, United Arab Emirates, United Kingdom, etc., in collaboration with smart waste management innovators (such as Enevo, Smartbin, Bigbelly, etc.) are saving around 30% of waste collection costs.
- Due to the presence of commercially available technology providers, coupled with smart city initiatives & decreasing cost of IoT sensor is pushing this market towards robust growth.
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North America to Account for the Largest Market Share
- North America comprises an increasing number of smart cities, and the existing ones are currently under development.
- Approximately 22% of cities in the United States and Canada have already been implementing strategic programs, compared to just 7% of cities, worldwide.
- The United States alone contributes the majority of the annual waste produced, at approximately 230 million metric ton of trash, the significant chunk of which is handled by private entities.
- Owing to government initiatives that promote sustainability, to achieve zero waste by 2020, and the penetration of smart city initiatives across the high urban concentration region, North America is expected to account for the lion's share in the smart waste management market.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Smart Waste Management Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2025 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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Irfan Tamboli (Head of Sales) – Market Insights Reports
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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