An overview of the global market for Intelligent Waste Management Systems (IWMS)
Analyses of market trends, with data from 2019, estimates for 2020 and projections of compound annual growth rates (CAGRs) through 2025
Assessment of current market size, market forecast, and explanation of major drivers, restraints, key developments and future outlook of the IWMS
Characterization and quantification of IWMS market based on waste type, source, treatment, component and region
Insights into government concerns and initiatives towards waste disposal
Market share analysis of the leading suppliers of the industry and their detailed company profiles including Covanta Holding Corp., IBM, Sensoneo, Suez Environmental Services, Tata Consultancy Services, Veolia Environmental Services
Over the past few years, the population across the globe has shown considerable growth, which in turn leads to more waste disposal. So, a proper waste management system is necessary to avoid spreading some deadly diseases and to save the overall demographic system. To avoid such a situation, IoT-based Waste Management Systems have been introduced in smart cities across the globe.
According to the planned system, multiple waste bins had been deployed across the cities and are linked with an embedded structure. This helps in tracking waste levels in different waste bins according to their placed unique IDs. This will help the government organization or tracking organization to collect waste on time without any delay.
This happens due to the interconnectivity of the embedded system with nearby small data centers and efficient alarming systems that are integrated into the smartphones or the specialized devices of the waste collector, as well as the monitoring officer. A Smart Waste Management System is a 24/7 monitoring system that is designed for monitoring dumpsters. The ultrasonic sensor is used for measuring the level of waste in the garbage bin and the IR sensor and moisture sensor are used for separating the wet and dry waste into two separate containers. This system provides an effective solution to the waste management problem.
Different technologies, such as vacuum containers, radio frequency identification (RFID) disposal tags and sensor containers, are used for providing real-time fill positions and overall assessments of different types of waste. Efficient and proper management of different types of waste through the overall integrated system can help in minimizing many problems related to climatic changes, environmental pollution, and public health. Recent endemic diseases such as the coronavirus have impacted the waste management market in a positive manner. People across the world are becoming more cautious about the disposal of products that are hazardous as well as nonhazardous.
Planned and efficient waste management technologies such as cloud management structure, RFID, and gasification of hazardous substances with proper care are the driving factors for the IWMS market across developed economies. However, due to the huge cost of implementation during setup, service, and maintenance across developing nations such as China and India will be a major challenge for the IWMS market in the coming few years.