Global Smart Waste Management Market is valued approximately USD 1.7 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 16.90% over the forecast period 2020-2026.
Smart waste management is the procedure of gathering, transferring, and placing or disposing the waste material in an effective manner with least possible effect on the environment. The use of smart trashes or smart bins for collection of garbage material and waste monitoring system facilitates waste management specialists to manage waste material efficiently. The market involves processes such as collection of waste, recycling it or recuperating useful entities from it, processing it, and its efficient dumping. Due to these rationales, municipalities, industrial bodies, and numerous other waste management corporations are opting for smart waste management methods. Rising consumer and government concentration for the adoption of innovative and effective waste management technologies, and growing investments in smart city initiatives are driving the growth of the smart waste management market. Various of the recognized companies in waste management solutions are gradually focusing on developing consumer-centric affordable solutions for this market.
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For instance, in 2018, SenRa, announced a partnership with a, SmartEnds (hardware design company) headquartered in Belgium for the development of smart waste bin solution to dispose, accurately monitor and accomplish trash collection. Equally, in 2017, OTTO Waste Systems Pvt. Ltd., signed a MOU with M1, a Singaporean operator to implement smart waste management system in order to offer efficient cleaning and productivity. The evolution of Internet of Things and Smart Technology are certain factors accountable for the growth of the market over the forecast period.
However, high initial cost impedes the growth of the market over the forecast period of 2020-2026.
The regional analysis of global Smart Waste Management market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to supportive government regulations. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as growing awareness about the environmental hazards of poor waste management and the depletion of land would create lucrative growth prospects for the Smart Waste Management market across Asia-Pacific region.
Major market player included in this report are:
Waste Management, Inc.
Bigbelly Solar, Inc.
Smartbin (OnePlus Systems Inc.)
Ecube Labs Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Analytics & Reporting
Manufacturing and Industrial
Food and Retail
Colleges and Universities
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
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Target Audience of the Global Smart Waste Management Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers