Press release
Smart Waste Management Market - Greater Growth Rate during forecast 2018 - 2023
Market Scenario
Smart waste management refers to proper disposal of waste in order to control problems such as pollution and diseases which disturb the society. Waste management needs to be done properly so as to avoid the irregular management of waste and ultimately its adverse effects on nature and society.
Technology giants such as IBM Corporation, SAP SE, Waste Management, Inc., Enevo, Bigbelly Solar, Inc., Smartbin, Ecube Labs Co., Ltd., Urbiótica, S.L., and Waviot are some of the major players in the smart waste management market. Veolia, a provider of water, waste, and energy management solutions has announced that they have won a contract from North Carolina Renewable Power – Lumberton, a subsidiary of Georgia Renewable Power to manage their biomass facility. Under a long-term agreement, GRP has engaged Veolia to provide comprehensive operations and maintenance services of the plants, CHP operations and production of biomass fuel and organic fertilizer. The company focuses on designing smart waste management solutions and also focusses on providing innovative solutions for the same. Whereas, Cisco has entered into a partnership agreement to deploy the IoT city digital platform in Denmark. This initiative includes intelligent waste monitoring for which SmartBin has deployed its sensors to a range of waste and recycling containers integrated with the city digital platform. This will ultimately help in driving the growth of Smart Waste Management Market.
The smart disposal sub-segment is expected to grow at a significant rate during the forecast period owing to the increasing awareness regarding smart waste disposal. Smart disposal sub-segment is classified into bioreactor landfills, sanitary landfills and landfill and solar integration. Increasing urbanization rates followed by rising incomes are some other factors responsible for fuelling the growth of smart waste management market.
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The North American region holds the largest share of the market across the globe followed by Europe, and Asia Pacific region. The U.S. and Canada are dominating the North American market due to rising technological enhancements and increasing demand for proper waste management treatments in order to avoid pollution in the region. The region also has a well-established infrastructure, which allows faster implementation of advanced technologies
The global smart waste management market is expected to grow at a CAGR of approximately 17% during the forecast period 2017-2023.
Key Players
Some of the prominent players in the global smart waste management market are IBM Corporation (U.S.), SAP SE (Germany), Waste Management, Inc. (U.S.), Enevo (Finland), Bigbelly Solar, Inc. (U.S.), Smartbin (Dublin), Ecube Labs Co., Ltd. (South Korea), Urbiótica, S.L. (Spain), Waviot (Russia), Pepperl+Fuchs GmbH (Germany), Covanta Energy (U.S.), Suez Environment (Paris), Republic Services (U.S.), Veolia North America (U.S.), Enerkem (Canada), Harvest Power (U.S.), and Recycle Smart Solutions (Canada).
Segments
The global smart waste management market is segmented by type of waste, method, and application. Based on the type of waste, the market is segmented into solid waste, special waste, e-waste, and others. Based on the method, the market is segmented into the smart collection, smart processing, smart energy recovery and smart disposal. The smart collection segment is further classified into RFIS, GPS routing systems, fuel switching and vacuum systems. The smart processing segment is further classified into RFD, mechanical biological treatment, and advanced MRFs. The smart energy recovery is classified into waste to energy and waste to fuel. The smart disposal segment is further classified into bioreactor landfills, sanitary landfills and landfill and solar integration. Whereas, based on the application, the market is segmented into manufacturing, food & retail, healthcare, construction, industrial and others.
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Regional Analysis
The global smart waste management market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Europe is projected to grow at the fastest rate during the forecast period. The North American market growth is attributed to technological advancements and increased adoption of smart city initiatives across various industry verticals.
Intended Audience
• Technology Investors
• Research/Consultancy firms
• Technology Solution Providers
• Government and regulatory bodies
• Smart waste solution vendors
• Municipal corporations
• Waste management associations
• Platform providers
• Network solution providers
• Consulting firms
• System integrators
• Managed service providers
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