Smart Waste Management Market by Type (Smart Collection, Processing, Disposal), Component (Fleet Management, Remote Monitoring, Asset Management), Application (Residential, Industrial, Commercial, Construction, Energy), and Region - Global Forecast to 2025.
pune, India - January 16, 2020 /MarketersMedia/ —
Meticulous Research® in its latest publication on smart waste management states that the global Smart Waste Management market will increase at a CAGR of 16.6% from 2019 to 2025 to reach $3.97 billion by 2025. Smart waste management comprises use of advanced and effective waste management technologies for handling large quantity of waste that is generated on daily basis from various sources such as, residential, municipality, industrial, commercial, manufacturing, and constructions. These include deployment of cutting edge technologies including RFID and GPS for real time efficient management of waste in order to reduce environmental impact.
Smart waste management is gradually becoming popular trend for effective waste management and it is expected to upsurge swiftly over the forecast years as well with growing adoption of smart city initiatives across the globe. Growth of the global smart waste management market is mainly attributed to the growing adoption of smart waste management technologies, and increasing concerns regarding management of hazardous waste in order to minimize its environmental impact. In addition, the government regulations are also playing a key role in driving adoption of smart waste management practices. This coupled with technological developments and growing acceptance towards establishing a circular economy in order to reuse, reprocess, and recover the harmful waste materials are also encouraging the demand of smart waste management technology.
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To provide efficient analysis, Meticulous Research has segmented this market on the basis of type (smart collection, smart processing, smart disposal, and smart energy & recovery), component (solution, and services), application (residential & municipality, industrial, commercial, construction & demolition, energy, and water supply & sewage treatment), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
Geographic Review
Geographically, North America commanded the largest share of the smart waste management market followed by Asia Pacific. The large share of North America region is mainly attributed to easy availability of advanced smart waste management technology solution & services, and high adoption of advanced waste management technologies, and presence of major smart waste management players in this region. However, Asia Pacific is anticipated to grow at the fastest CGAR during the forecast period owing to rapidly increasing urbanization along with economic growth, and increasing government interest towards minimizing environmental impact of waste management. Further, the increasing number of smart city initiatives in this region are also expected to contribute to the overall growth of the smart waste management market in the Asia-Pacific region during the forecast period.
While in terms of component, the smart waste management solutions segment accounted for the largest share of this market, owing to consistently rising demand for economic monitoring of waste and waste management systems that can assist in improving the overall efficiency of waste management along with operational cost optimization. In addition, incessantly growing adoption of advanced technology which allow efficient waste management to enhance customer experience is expected to contribute to the growth of this market over the forecast period.
Smart Waste Management Market Leading Players
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including:
• Suez Environmental Services (France),
• Veolia Environmental Services (France),
• Enevo (Finland),
• Smartbin (OnePlus Systems Inc.) (U.S.),
• IBM Corporation (U.S.),
• Waste Management, Inc. (U.S.),
• Bigbelly Inc. (U.S.),
• Covanta Holding Corporation (U.S.),
• Pepperl+Fuchs GmbH (Germany),
• BIN-e (Poland), Evoeco (U.S.),
• Ecube Labs Co Ltd. (South Korea),
• Republic Services (U.S.),
• Sensoneo (Slovakia),
• Evreka (Turkey), among others.
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Table of Contents
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency and Limitations
1.3.1. Currency
1.3.2. Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Data Collection and Validation
2.1.1. Primary Research
2.1.2. Secondary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-up Approach
2.3.1.2. Top-Down Approach
2.3.1.3. Growth Forecast
2.3.2. Market Share Analysis
2.4. Assumption for study
3. Executive Summary
3.1. Market Overview
3.2. Market Analysis, by Type
3.3. Market Analysis, by Component
3.4. Market Analysis, by Application
3.5. Market Analysis, by Geography
3.6. Competitive Analysis
4. Market Insights
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.1.1. Growing adoption of smart waste management technologies
4.2.1.2. Growing concern over the environmental impact of waste
4.2.2. Restraints
4.2.2.1. High cost of connected network infrastructure
4.2.3. Opportunities
4.2.3.1. Growing number of smart city initiatives across the globe
4.2.3.2. Technological advancements in waste management
4.2.4. Trends
4.2.4.1. Growing adoption of connected devices
5. Smart Waste Management Market, by Type
5.1. Introduction
5.2. Smart Collection
5.3. Smart Processing
5.4. Smart Disposal
5.5. Smart Energy Recovery
6. Smart Waste Management Market, by Component
6.1. Introduction
6.2. Solution
6.2.1. Fleet Management
6.2.2. Remote Monitoring
6.2.3. Data Analytics & Advanced Reporting
6.2.4. Network Management
6.2.5. Asset Management
6.3. Services
6.3.1. Professional Services
6.3.2. Managed Services
7. Global Smart Waste Management Market, by Application
7.1. Introduction
7.2. Residential & Municipality
7.3. Industrial
7.4. Commercial
7.5. Construction & Demolition
7.6. Energy
7.7. Water Supply & Sewage Treatment
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