The Global Smart Waste Management Market is expected to expand at 18.6% CAGR to reach a market value of 7,877 Million in 2025.
Increasing number of smart city initiatives is one of the factors responsible for the growth of the market during the forecast period. With the increased awareness among the leading countries regarding the need for sustainable growth, smart cities have been conceptualized and built across the globe to serve as models of modern development. Cities such as Tokyo, New York, and Paris have already made great strides in this model through the adoption of electric vehicles with zero emissions.
In fact, the cumulative sales of electric vehicles have almost reached 50% of the total sales in Shanghai. Along with these initiatives to reduce air pollution and consumption of fossil fuels, there is an increasing requirement for reducing and better managing the total waste production in a smart city. Landfilling and waste incineration have been the main methods of waste disposal in cities until recently. Smart waste management products, such as IoT-based smart bins, help in sorting waste into biodegradable and non-biodegradable waste in an enhanced manner through smart waste segregation process.
Based on the type of waste, the smart waste management market has been segmented into solid waste, special waste, e-waste, and others.
Based on the method, the smart waste management market has been segmented into smart collection, smart processing, smart energy recovery and smart disposal. The smart collection segment is sub-segmented into RFIS, fuel switching, GPS routing systems, and vacuum systems. The smart processing segment is further sub-segmented into mechanical biological treatment, RFD, and advanced MRFs.
Based on the application, the smart waste management market has been segmented into manufacturing, food & retail, healthcare, construction, industrial and others.
The regional study of the global smart waste management market spans across Asia Pacific, North America, Europe, and Rest of the World. North America is the largest market for smart waste management trailed by Europe. The technological advancements in the region are likely to dictate the future trajectory of the smart waste management market in the region.
Asia Pacific is expected to witness positive growth through the forecast period. The consolidation of developing economies in the region is prognosticated to favor the expansion of the smart waste management market over the next few years.
Browse Full Report Details @
Some of the major players operating in the global smart waste management market are IBM Corporation (U.S.), Waste Management, Inc. (U.S.), SAP SE (Germany), Enevo (Finland), Smartbin (Dublin), Ecube Labs Co., Ltd. (South Korea), Bigbelly Solar, Inc. (U.S.), Urbiótica, S.L. (Spain), Covanta Energy (U.S.), Suez Environment (Paris), Waviot (Russia), Pepperl+Fuchs GmbH (Germany), Republic Services (U.S.), Enerkem (Canada), Harvest Power (U.S.), Veolia North America (U.S.), and Recycle Smart Solutions (Canada).
Other Related Market Research Reports:
Smart Beacon Market Research Report – Global Forecast till 2025
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar