NEW YORK, Sept. 14, 2023 /PRNewswire/ -- The smart waste management market size is expected to grow by USD 2.83 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 8.96% during the forecast period. The market is segmented by Type (Solid waste, Special waste, and E-waste), Application (Collection, Landfill, Recovery and recycling, and Processing), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). Increasing urbanization drives the smart waste management market. For instance, the share of the urban population is raised from 51.66% in 2010 to 56.15% in 2020 and more than 65% of the global population is expected to reside in urban areas by 2050. Additionally, the need for basic facilities increased with the growth in the urban population, and thus the rising urbanization results in an increase in the amount of waste generated. Furthermore, factors like the rising amount of urban waste generation are expected to cause high environmental pollution and health issues. This will adversely affect people residing in urban areas. Hence, such factors drive the growth of the smart waste management market during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample
Key Highlights:
- The report recognizes the following as some of the key players in the smart waste management market: Aco Recycling, Big Belly Solar Inc., Bine sp. z o. o. , BRE Group, Covanta Holding Corp., Ecube Labs, Enevo Inc., Evreka Yazilim Donanim Danismanlik Egitim Sanayi ve Ticaret A.S., Mr. Fill B.V., Nordsense, Pepperl and Fuchs SE, Republic Services Inc., RTS Holding Inc., SENSONEO j. s. a., SUEZ SA, Superfy Ltd., Veolia Environnement SA, Waste Harmonics LLC, Waste Management Inc., and Wellness TechGroup
- Smart Waste Management Market is fragmented in nature.
- Market to observe 7.82% YOY growth in 2023.
Market Dynamics:
Trend
- The rise in the number of strategic partnerships is an emerging trend in the smart waste management market.
- In order to expand the market presence and increase the revenue share, market vendors are forming strategic partnerships with market participants.
- For instance, Nordsense makes a strategic partnership with Neowin for greener buildings as a rising number of real estate customers are looking for more environmentally friendly ways of dealing with waste in their properties in the Nordic region.
- Hence, such trends fuel the growth of the smart waste management market during the forecast period.
Challenge
- The effective deployment of smart waste management solutions challenges the growth of the smart waste management market.
- Solutions for smart waste management include collecting, disposing of, and recycling waste and trash bins generally transport trash to temporary collection centers by collecting it from private companies or municipalities' trucks.
- Additionally, the trash is then taken to a recycling plant from these centers.
- However, factors like the ineffective use of sensors may result in wrong information being sent to truck drivers. Also, at the time of collection, some of the trash bins may be overfilled, while others may be underfilled.
- Hence, such challenges impede the growth of the smart waste management market during the forecast period.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report
Keg Segments:
The solid waste segment is significant during the forecast period. Garbage or discarded materials are included in this segment and they come from industrial, commercial, mining, and agricultural operations as well as from community activities. Furthermore, trash and garbage lead to the production of methane, a greenhouse gas emission (GHG). The GHGs are more toxic and harmful than carbon dioxide. Consequently, market vendors operating in the market offer smart waste management solutions to handle solid waste. Hence, such factors drive the solid waste segment of the smart waste management market during the forecast period. Get a glance at the market contribution of the segments, Request a Free Sample
Related Reports:
The electronic waste recycling market size is estimated to grow at a CAGR of 15.67% between 2022 and 2027. The market size is forecast to increase by USD 16,004.9 million. This report extensively covers market segmentation by material (metals and chemicals, plastic, and glass), source (household appliances, entertainment, consumer electronics, IT and telecom, medical equipment, and others), and geography ( Europe, APAC, North America, South America, and Middle East and Africa). An increase in industrial activities globally drives market growth.
The wet waste management market size is estimated to grow at a CAGR of 5.08% between 2022 and 2027. The market size is forecast to increase by USD 36.54 billion. This report extensively covers market segmentation by method (landfill, recycling, and incineration), service (processing, collection and transportation, disposal and landfill, sorting, and storage), and geography (APAC, Europe, North America, South America, and the Middle East and Africa). Growing awareness for wet waste management and recycling drives market growth.
Smart Waste Management Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.96% |
Market growth 2023-2027 |
USD 2.83 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
7.82 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, Canada, Germany, France, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aco Recycling, Big Belly Solar Inc., Bine sp. z o. o. , BRE Group, Covanta Holding Corp., Ecube Labs, Enevo Inc., Evreka Yazilim Donanim Danismanlik Egitim Sanayi ve Ticaret A.S., Mr. Fill B.V., Nordsense, Pepperl and Fuchs SE, Republic Services Inc., RTS Holding Inc., SENSONEO j. s. a., SUEZ SA, Superfy Ltd., Veolia Environnement SA, Waste Harmonics LLC, Waste Management Inc., and Wellness TechGroup |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
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