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 industry growth, share, size, trends, and growth 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 an advanced approach to efficiently handling and optimizing waste collection and disposal processes. It leverages technology and data-driven solutions to enhance the overall management of waste, making it more sustainable and cost-effective. Additionally, it often includes public-facing features, such as mobile apps, where residents can report issues with waste bins or access information about recycling programs, promoting community engagement in waste management efforts. In smart waste management, sensors are deployed in waste bins to monitor their fill levels in real-time. This data is then transmitted to a centralized system, allowing waste collection teams to prioritize collections based on the level of waste, optimizing routes, and reducing unnecessary pickups. This not only saves time and fuel but also reduces the carbon footprint of waste collection vehicles. Furthermore, smart waste management system enables proactive maintenance of waste bins by alerting authorities when a bin requires servicing or is damaged. This ensures that bins are consistently available for use and minimizes littering.
Global Smart Waste Management Market Trends and Drivers:
The growing environmental awareness and the need to reduce the environmental impact of waste disposal represent one of the key factors offering a favorable market outlook. Smart waste management systems help optimize collection routes, reducing fuel consumption and emissions. Moreover, smart waste management systems encourage recycling and proper waste disposal practices, ultimately contributing to a cleaner environment. In addition, rapid urbanization is leading to increased waste generation in cities. Traditional waste management methods struggle to keep up with this pace. Smart waste management offers an effective solution by optimizing waste collection processes, ensuring timely pickups, and reducing overflowing bins, thus keeping urban areas cleaner and more livable. Besides this, municipalities and waste management companies are increasingly looking for cost-effective solutions. Smart waste management helps reduce operational costs by optimizing routes, minimizing fuel consumption, and reducing labor hours. These cost savings make it an attractive option for both public and private waste management entities.
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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