Smart Waste Management Market Overview To The Future Opportunities Over The Global Growth - 2027

A lead analyst at AMR highlighted that the waste management market across Asia-Pacific is estimated to witness highest growth rate during the forecast period.

Allied Market Research published a research report on the smart waste management market. The findings of the report states that the global market for smart waste management garnered $1.68 billion in 2019, and is expected to hit $4.10 billion by 2027, manifesting a CAGR of 15.1% from 2020 to 2027. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new

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“The global smart waste management market is expected to witness significant growth during the forecast period, owing to environment-related concerns and strict environmental regulations by governments for waste management. However, lack of efficient connectivity and high capital investments required are projected to hamper growth of the smart waste management market. Technological advancements and rise in adoption in developing countries are anticipated to provide lucrative opportunities for key players during the forecast period,” said Amar Chinchane, the industry analyst of construction and manufacturing at Allied Market Research.

The report offers insights on the key determinants of the industry to assist market players in formulating growth strategies and capitalize on opportunities. The implementation of smart waste management has grown significantly. In addition, the growth in environmental awareness and development of urbanization and industrialization have boosted the progress of the industry in the past few years. At the same time, smart waste management requires high capital investments. Furthermore, various regions lack in efficient connectivity. These factors hamper the market growth to certain extent. Contrarily, the initiatives for development of smart cities are rising along with technological advancements. These factors would present opportunities for growth in the industry.

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The report provides a detailed scenario of impact of the Covid-19 pandemic on the smart waste management market globally. It cooperates the market players, new entrants, and investors to determine strategies based on the present scenario and contrive the business model accordingly for the next few years. The pandemic presented huge challenges in terms of manufacturing capacity and efficient functioning of supply chain for residential & industrial waste collection and disposal. On the other hand, thegovernments and health governing authorities in many countries have issued guidelines based on smart waste management during lockdown to curb the spread of coronavirus.

The report offers detailed segmentation of the global smart waste management market based onwaste type, method, source, and region. These insights supports new entrants and market players to capitalize on the fastest growing and highest revenue generating segments to accomplish growth in the coming years.

Based on waste type, the solid waste segment dominated with the highest market share, holding nearly three-fifths of the total market share in 2019, and is expected to maintain its dominance by 27. However, the e-waste segment is estimated to register the highest CAGR of 18.8% during the forecast period.

Based on source, the residential segment held the highest market share in 2019, contributing to nearly half of the global smart waste management market, and will maintain its highest contribution throughout the forecast period. In addition, the same segment is also projected to exhibit the largest CAGR of 16.6% from 2020 to 2027.

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Based on region, the market across North America accounted for nearly two-fifths of the total market share in 2019, and is estimated to maintain its leadership status during the forecast period. However, Asia-Pacific region is expected to witness the fastest CAGR of 18.5% from 2020 to 2027. The market is also studied across LAMEA and Europe.
Leading market players of the global smart waste management market analyzed in the report includeSUEZ Environmental Services, Republic Services Inc, Waste Management Inc, SensoneoJ.s.a., BigbellyInc, Urbiotica, Ecube Labs Co Ltd,Covanta Holding Corporation, and EnevoOy.

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This release was published on openPR.