Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The dynamic forces of rapid urbanization, a flourishing economy, and evolving lifestyles are pivotal contributors to the expansion of the global smart waste management market. Smart waste management involves the systematic collection, transportation, and environmentally friendly disposal of waste materials. The integration of smart bins or intelligent trash receptacles, coupled with garbage monitoring systems, empowers waste management authorities to effectively handle and manage waste materials. The market's growth is further fueled by the increasing prevalence of smart city initiatives and the widespread adoption of sensor technology, marking significant strides during the forecast period. However, the growth potential faces a hurdle in the form of a lack of efficient connectivity, impeding the seamless proliferation of the smart waste management market.
Smart waste management encompasses the strategic processes involved in collecting, transporting, and disposing of waste materials in an environmentally sustainable manner, responding to the challenges posed by rapid urbanization, a thriving economy, and evolving lifestyles. The incorporation of smart bins and garbage monitoring systems has emerged as a transformative solution for waste management authorities, enhancing their capacity to handle and oversee waste materials effectively. The market's upward trajectory is further propelled by the global surge in smart city initiatives and the widespread integration of sensor technology, marking a significant growth trajectory throughout the forecast period. However, a notable impediment to this growth is the inadequacy of efficient connectivity, presenting a challenge to the seamless expansion of the smart waste management market.
While the smart waste management market is gaining momentum and unveiling potential growth opportunities, certain constraints hinder its full-scale proliferation. A key factor impeding growth is the lack of efficient connectivity within the waste management network. This deficiency is attributed to the need for extensive network coverage and high bandwidth to support the demanding data rates and expansive coverage required by the future Internet of Things (IoT) sensors. Presently, the existing infrastructure relies on LTE advanced networks, which fall short of providing the necessary bandwidth, thereby impacting the growth potential of the market throughout the forecast period.
Despite these challenges, the market is witnessing a surge in growth with significant opportunities on the horizon. Leading players in the market, including IBM Corporation (US), SAP SE (US), Enevo (US), Bigbelly Solar, Inc. (US), Ecube Labs Co., Ltd (South Korea), Pepperl+Fuchs (Germany), Covanta (US), Waste Management, Inc. (US), and OnePlus Systems (US), are contributing to the market's momentum. These key players are actively offering advanced waste disposal products and services, thereby contributing substantially to the generation of market revenue. Their innovative solutions and services play a crucial role in driving the evolution and expansion of the smart waste management market.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 13.5% |
Smart Waste Management Market Highlights:
Smart Waste Management Market Overview
According to the reports, the Global Smart Waste Management Market size is projected to grow at a compound annual growth rate (CAGR) of 13.20%, reaching a market size of USD 10.2 billion by 2032. Smart waste management is the process of collecting, transporting, and properly disposing of trash in a manner that has the least amount of environmental impact. It is possible to implement smart waste management by incorporating sensors into trash containers, which may be used to monitor the amount of waste in waste bins and inform the municipal garbage collection services when the bins need to be emptied. The information gathered by the sensors is used to detect fill trends, decrease operating expenses, and improve driver timetables and routes, amongst other things.
Figure 1: Smart Waste Management Market Size, 2024-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Rapid urbanization, a rising economy, and shifting lifestyles are just a few of the reasons contributing to the development of the worldwide smart waste management market growth in recent years. A smart waste management system is a process that collects, transports, and disposes of waste products in an efficient way with the least amount of negative effect on the environment possible. Using smart bins for waste collection and a trash surveillance system to keep track of waste enables waste management agencies to manage waste more efficiently.
In addition to the growing number of smart city projects, there has been a proliferation of sensing devices, which has contributed to the development of the market during the projected period. In contrast, a lack of effective connection may limit the expansion of the smart waste management industry. The waste management system requires broad network coverage as well as high data transfer rates. Structural and process, on the other hand, are built on LTE advanced networks, which do not have the capacity to support the high data rates and minute coverage required by IoT sensors in the future.
This report contains all the information on the global Smart Waste Management Market it’s strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global Smart Waste Management Market forecast for 2025 is also included in the report.
Smart Waste Management Market Covid 19 Analysis:
During the COVID-19 pandemic, the implementation of smart city technology, such as smart bins, was expedited, as was the use of smart bins. In India, an alumni of the Indian Institute of Technology (IIT) Kanpur has developed a smart container that has a unique layer on the surface of its opening that reduces the lifetime of the virus by up to 95 percent. This assists in reducing the danger of contamination to other customers as well as increasing the degree of safety while dealing with trash.
Smart Waste Management Market Dynamic
Drivers: An increase in the number of connected devices being used, as well as an increase in the need for cost-effective sophisticated network infrastructure, are driving the development of smart waste management solutions. It is necessary to integrate creative waste management solutions to conduct a variety of activities, including performance and performance monitoring, configuration, and accounting, in order to improve performance while simultaneously reducing time and operating costs.
Opportunities: Increasing acceptance of technology advances such as the Internet of Things (IoT) for trash collection, as well as an increase in the number of people using them in developing nations, are expected to provide profitable opportunities for market participants over the forecast timeframe.
Restraints: High capital expenditures and an absence of effective connection are expected to hamper the development of the smart waste management industry in the near future.
Challenges: According to projections, the worldwide smart waste management industry would see challenges due to a lack of efficient connection and expensive starting costs.
Cumulative Growth Analysis: Advanced techniques such as radio frequency (RFID), the Internet of Things (IoT), and global positioning systems (GPS), among others, are extremely popular for cost-effective smart trash-collecting techniques that are both efficient and environmentally friendly. As a result of this tendency, which is particularly apparent in urban areas to offer a better environment and public health, smart waste management technologies are being adopted by urban societies at an increasing rate. For example, at Shanghai's Zhangjiang High-Tech Park, artificial intelligence-powered smart garbage bins have been placed (China). Another 2,000 artificial intelligence-enabled smart trash bins are expected to be installed by the end of 2019 and will be provided by Alpheus, an AIoT (artificial intelligence + IoT) technology firm that specializes in waste management.
Value Chain Analysis: According to the reports, the worldwide smart waste management market has been categorized based on the element used, the kind of trash generated, the technique used, the application used, and the region used. The smart waste management market has been divided into three categories based on the component used: hardware, solution, and services. Further, the solution sector has been subdivided into data analytics and reporting solution, remote device monitoring solution, asset tracking, network monitoring, asset management, and other categories of solutions.
The smart waste management market has been divided into three categories based on the kind of trash generated: solid waste, special waste, and e-waste. The smart waste management market has been segmented into four categories based on the manner of collection: smart collection, smart processing, smart disposal, and smart energy recovery. The smart waste management market has been divided into many categories based on application, including industrial and commercial, healthcare, food and retail, building, domestic, and others.
Smart Waste Management Market Segmentation Overview
The market is segmented on the basis of the element used, the kind of trash generated, the technique used, the application used, and the region used. The global smart waste management market trends are expected to witness decent growth during the forecast period.
By Application: Based on the application, the market is segmented into industrial and commercial, healthcare, food and retail, building, domestic, and others.
By end-users: Based on the propulsion types, the market is segmented into solid waste, special waste, and e-waste.
Smart Waste Management Market Regional Analysis
According to the reports, On the basis of geography, the worldwide smart waste management market has been divided into the following regions: Asia-Pacific; North America; Europe; the Middle East & Africa; and South America. North America had the biggest smart waste management market share of the market in 2018, accounting for USD 1,095.0 million in total market value. In this area, the smart bin process has been one of the most widely used, which is a key driver driving the market's expansion. In the area, there are many major players that are investing in the research & technological development and improved recovery capabilities, which is also contributing to the market's continued expansion.
For the sake of this study, the European market has been divided into four categories: Germany, the United Kingdom, France, and the rest of Europe. During the projection period, the market in Europe is projected to grow at the fastest rate, with a compound annual growth rate (CAGR) of 20.2 percent. Europe is expected to have the quickest smart waste management industry, according to forecasts. The area features effective legislative policies implemented by governments in a number of nations, which is fueling the market's expansion. Furthermore, rising public awareness of e-waste recycling and government efforts are some of the factors contributing to the market's expansion and development.
Smart Waste Management Market Competitive Landscape
When it comes to expanding their customer services, several rivals in the smart waste management industry have turned to agreements, partnerships, and acquisitions as their primary growth methods. For example, in August 2020, Collaboration, Republic Services Inc inked a partnership agreement with Aria Energy, a renewable energy management business headquartered in the United States. The collaboration intended to convert landfill methane into renewable natural gas.
Smart Waste Management Market Major Key Players
- SAP SE (Germany)
- IBM Corporation (US)
- Enevo (Finland)
- Waste Management, Inc. (US)
- Bigbelly, Inc. (US)
- Ecube Labs Co., Ltd.(South Korea)
- Covanta (US)
- Pepperl+Fuchs Group (Germany)
- OnePlus Systems Inc(US)
- Urbiotica (Spain)
Recent Developments
October 2023: Following the awarding of a historic EUR 2 billion contract for disposing of Hong Kong’s non-hazardous waste, Veolia continues its ecological transformation and regeneration of the city’s resources. For over thirty years and with no fewer than one thousand employees, the Group has been locally decarbonizing activities of the city through several water, waste and energy contracts in order to speed up local ecological change.
September 2023: WM has opened a new recycling facility in Cleveland, Ohio, covering an area of 100,000 square feet. It incorporates modern technology that can handle about 420 tonnes of recyclables every day. The new WM facility comes with glass recovery equipment, an optical sorter, a non-wrapping screen and ballistic separators intended to support recycling programs developed in this region as well as production of high-quality materials for customers who use recycled material as raw material to produce new products.
July 2023: In July 2023, WM commenced operations at its new USD 35 million renewable natural gas plant consisting of fourteen thousand five hundred square feet located in Eco Vista landfill in Texas, according to a company news release. Construction on this project began two years ago but will hire four operational workers and around one hundred construction employees. Also, by May end this year, according to the company, it plans that by the end May, the plant should be fully functional.
June 2023: The Government supported the ‘City Investments to Innovate Integrate Sustain (CITIIS)’ project under Smart Cities Mission Phase-II which aims at promoting integrated management of blended waste services and climate-sensitive reforms. CITIIS is planned for execution in eighteen cities.
Smart Waste Management Market Segmentation
Market by Type
- Smart Collection
- Smart Processing
- Smart Disposal
- Smart Energy Recovery
Market by Component
- Fleet Management
- Remote Monitoring
- Data Analytics & Advanced Reporting
- Network Management
- Asset Management
Market by Services
- Professional Services
- Managed Services
Market by Application
- Residential & Municipality
- Industrial
- Commercial
- Construction & Demolition
- Energy
- Water Supply & Sewage Treatment
Market by Geography
-
North America
- U.S.
- Canada
-
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
-
Asia Pacific
- Japan
- China
- India
- Rest of Asia Pacific
-
Latin America
-
Middle East and Africa
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
