Global Smart Waste Management Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Smart Waste Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global smart waste management market growth, size, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global smart waste management market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.3 Billion by 2028, exhibiting a growth rate (CAGR) of 13.9% during 2023-2028.
Smart waste management is a modern approach for handling waste and recycling processes in urban and industrial environments. It leverages advanced technologies and data-driven solutions to optimize various aspects of waste management, ranging from collection and transportation to disposal and recycling. It aims to enhance environmental sustainability, reduce operational costs, and improve the overall quality of life of people. It can optimize waste collection routes by analyzing the data from sensors and other sources and reduces travel time, fuel consumption, and emissions. It helps identify the maintenance requirement of waste collection vehicles and equipment and reduces downtime and operational costs. It ensures that waste collection vehicles are dispatched only when bins are nearing full capacity and minimizes unnecessary trips and resource wastage. It allows more precise and efficient waste collection and reduces the chances of overflowing bins. It enables waste management companies and municipalities to streamline their operations, minimize waste generation, and contribute to a cleaner and healthier environment. It also benefits authorities to allocate resources more effectively and plan for future waste management needs. It assists in sorting and recycling waste materials more effectively and promoting resource recovery while reducing landfill usage. As it aids in compliance with environmental regulations, the demand for smart waste management is increasing across the globe.
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Global Smart Waste Management Market Trends and Drivers:
At present, the escalating demand for smart waste management to reduce operational costs and lower fuel consumption represents one of the major factors influencing the market positively. Moreover, the rising employment of smart waste management, as it generates valuable data on waste generation patterns and system performance and enables data-driven decision-making, is strengthening the growth of the market. Apart from this, the growing demand for more efficient waste management solutions due to the increasing waste generation in cities is offering a positive market outlook. Additionally, the integration of artificial intelligence (AI) and the Internet of Things (IoT) technologies in smart waste management to enable real-time monitoring of waste management is impelling the market growth. In line with this, there is a rise in the need to conserve resources and promote recycling around the world. This, coupled with the increasing utilization of smart waste management to maintain cleaner streets and provide safer working environments by reducing the amount of overflowing waste and illegal dumping, is providing lucrative growth opportunities to industry investors. Furthermore, governing agencies of numerous countries are promoting the adoption of smart waste management to maintain sustainable waste disposal and lower greenhouse gas (GHG) emissions, which is bolstering the growth of the market. In addition, advancements in sensor technology, data analytics, and connectivity to enhance overall waste management procedures are propelling the market growth. Besides this, rising concerns among people about maintaining a greener environment are contributing to the market growth.
Global Smart Waste Management Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Bigbelly Inc., Bin-e, Ecube Labs Co. Ltd., Enevo (REEN AS), Evreka, GreenQ Ltd., Pepperl+Fuchs SE, RecycleSmart Solutions, Rubicon Technologies LLC, Sensoneo, Suez SA and Veolia Environnement S.A.
The report segmented the market on the basis of region, component, waste type, method and source.
Breakup by Component:
- Solution
- Fleet Management
- Remote Monitoring
- Data Analytics and Advanced Reporting
- Network Management
- Asset Management
- Services
- Professional Services
- Managed Services
Breakup by Waste Type:
- Solid
- Special
- E-Waste
Breakup by Method:
- Smart Collection
- Smart Processing
- Smart Disposal
- Smart Energy Recovery
Breakup by Source:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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