Smart Waste Management Market to grow by USD 2.83 billion during 2022-2027 | Increasing urbanization to drive the growth - Technavio

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.

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

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