Global Smart Waste Management Market was valued ~US$ 1.5 Bn in 2019 and is expected to reach ~US$ 9.53 Bn by 2027, at CAGR of 26% during forecast period of 2020 to 2027.

Global Smart Waste Management Market

Global Smart Waste Management Market: Overview

According to the research, about 1.5 billion metric ton of waste is generated every year across the globe and is expected to reach 2.3 billion, by end of the 2020. This increase can be credited to the growing population across globe, increasing urbanization and industrialization, across several developed and developing countries around globe.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.

In order to provide improved lifestyle in the urban areas, water management, energy management and traffic management are important but waste management is a key aspect in the development of smart cities as without it no development can survive for long time. The growing adoption of smart city initiatives across several countries supports the growth of the smart waste management market. Not only for smart cities or urban areas but it is needed in the rural areas of a country as well. As wastes create problem to the environment and can harm to the humans as well as animals on planet by spreading several diseases and allergies.

The advancements in the technology for the management of the waste has given innovative solutions for the smart waste management. The conventional waste management involves various stages, such as collection, transportation, disposal, and recycling. This industry is witnessing several issues at different stages of waste management, specifically, the operational costs corresponding to collection and transport of the waste, thereby contributing in the increasing acceptance of smart waste management.

The rising volume of waste is creating complexities in the logistics of waste collection and need to meet the several regulations by government and environmental authorities relating to waste processing, urges for the better waste management solutions, which can be made possible by the use of advanced technologies, such as IoT sensors, RFID, GPS, etc. Owing to the several reasons, the smart waste management market is at an emerging phase, and it is estimated to witness healthy growth of CAGR 26% during forecast period.

Smart Waste Management Stages are:

• Smart Collection
• Smart Processing
• Smart Energy Recovery
• Smart Disposal

Key Market Trends:
Smart Waste Collection through IoT to Contribute to the Market Growth:
The advent of IoT has revolutionized and addressed operational costs, for the waste management companies. For instance, by using sensors near the trash containers, companies get insights to plan the fleet trucks in accordance with the volume of trash, thus decreasing the unnecessary fleet movement and fuel consumption. Government authorities of some cities across the United States, United Kingdom, United Arab Emirates and some others, in association with smart waste management companies and with the help of IoT systems are saving around 30% of waste collection costs.

North America to Account for the Largest Market Share

In 2019, the North America includes the maximum and an increasing number of smart cities owing to the speedy development. As per the research, around 30% of cities in the United States and Canada have already implemented strategic programs and consistently focusing to put larger areas under smart waste management. The United States alone generates the majority of the waste, at approximately 230 million metric ton per year, along with the government initiatives, and the penetration of smart city initiatives across the urban regions of North America is expected to account for the largest share of US$ XX.XX Bn in the smart waste management market.

Global Smart Waste Management Market Regional Analysis:

Followed by North America, the Europe region holds the next place in the global market for smart waste management. The government regulations in this region are supportive as well as there are also investments by the players in R&D and impose the latest technology, in order to develop ways to utilize the waste in an efficient ways. These factors are beneficial for the market growth and estimated to drive market with CAGR of XX.XX% during the forecast period. The Asia Pacific region also anticipates to witness a remarkable growth in the global market owing to the growing awareness about the environmental pollution and the adverse health effects, expected to maintain CAGR of XX.XX% in the forecasted years.

Objective of the Report:

The objective of the report is to present a comprehensive analysis of Global Smart Waste Management Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Smart Waste Management Market dynamics, structure by analyzing the market segments and project the Global Smart Waste Management Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Smart Waste Management Market make the report investor’s guide.