Smart waste management market is growing rapidly across the globe especially in urban regions. There has been a significance rise in waste management technology in the past few years in order to collect, dispose and manage the waste coming from various end-use industries.
“Smart Waste Management Market: Global Demand, Growth Analysis & Opportunity Outlook 2023”
The global smart waste management market is segmented by technology into smart collection, smart processing, smart disposal and smart energy recovery. Among these segments, smart processing segment is anticipate to grow at a significant pace over the forecast period owing to increasing awareness amongst the population regarding benefits of recycling of wastes.
Further, growing use of waste as an energy source or as an alternative of fossil fuels is estimated to bolster the growth of this segment over the forecast period.
Global smart waste management market is expected to register a CAGR of 16.5% over the forecast period.
Moreover, the global smart waste management market is expected to reach at USD 2.8 Billion by the end of 2024. Further, benefits of adopting smart waste management such as reduced environmental pollution, employment and revenue generation are major reasons which are envisioned to drive the growth of smart waste management market during the forecast period.
Apart from this, rising need for energy conservation is a key factor which is likely to fuel the growth of global smart waste management market in near future.
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The manufacturing segment by end-user contributed highest in terms of revenue in 2016. Increasing Industrialization across the globe and increasing number of manufacturing, energy and other industries due to rapid industrialization in the developing countries are predicted to foster the growth of this segment over the forecast period.
Increasing Environment Concerns
Rising urban population and high consumption rate of all resources are increasing the waste production across the globe. Further, rising garbage pollution due to poor waste management across the globe is escalating the demand for smart waste management across the globe.
Further, growing awareness amongst the population regarding hazardous effect of carbon emission on environment is bolstering the growth of market across all regions.
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Economic Benefits of Smart Waste Management
Smart waste management offers a number of benefits such as reduce operational costs, eliminate waste overflow, revenue generation and reduced carbon emission. Further, these benefits of smart waste management are strengthening the market of smart waste management globally.
However, requirement of extreme high initial investments is a major factor which is anticipated to hamper the growth of global smart waste management market over the forecast period.
The report titled “Smart Waste Management Market: Gl…ity Outlook 2023” delivers detailed overview of the global smart waste management market in terms of market segmentation by technology, by solution, by service, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global smart waste management market which includes company profiling of Bigbelly, Inc., IBM Corporation, Pepperl-Fuchs GmbH, Waste Management, Inc., Smartbin, SAP SE, Smart Waste, Ecube Labs, Enevo Inc. and Nebulae. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global smart waste management market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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