Smart Waste Management Market Growing at a CAGR of 15.1% with Increasing Research Drive Growth by 2027
Technological advancements and rise in adoption in developing countries are anticipated to provide lucrative opportunities for smart waste management.
PORTLAND, OR, UNITED STATES, July 18, 2023/EINPresswire.com/ — The global smart waste management market size is expected to reach $4.1 million in 2027 from $1.6 million in 2019, growing at a CAGR of 15.1% from 2020 to 2027. In 2019, North America region dominated the global waste management market, in terms of revenue, accounting for about largest share of the global smart waste management industry, followed by Europe and Asia-Pacific.
The smart waste management market is segmented on basis of source into residential, commercial, and industrial. Increase in urbanization & industrialization is expected to result in growth in waste generation. In addition, rise in residential and commercial sectors has also led to rise in the amount of waste. Moreover, environmental problems such as soil, water, and air pollution have increased, owing to unplanned waste dumping over last few years. In addition, increase in environmental awareness has significantly fueled demand for waste management in developed countries and is incorporating rapidly in developing countries. Moreover, increase in smart city initiatives, specifically in North America and Europe, are expected to propel growth of the smart waste management market.
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The global smart waste management market is segmented on the basis of method, waste type, source, and region. On the basis of method, the market is divided into smart collection, smart processing, and smart energy recovery & smart disposal. By waste type, it is divided into solid waste, special waste, and e-waste. On the basis of source, it is segmented into residential, commercial, and industrial. Region wise, the smart waste management market is divided into North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Top Players:
The key players profiled in the global smart waste management market report include Covanta Holding Corporation, SUEZ Environmental Services, Veolia Environnement S.A., Republic Services, Inc, Waste Management Inc, Sensoneo j.S.a., Bigbelly Inc, Urbiotica, Ecube Labs Co Ltd, and Enevo Oy.
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Key Segments:
By WASTE TYPE –
Solid Waste
Special Waste
E-Waste
By METHOD
Smart Collection
Smart Processing
Smart Disposal
By SOURCE
Residential
Commercial
Industrial
Key Findings Of The Study:
• By method, the smart colletion segment dominated the global smart waste management market in 2019.
• Based on waste type, solid waste segment is projected to generate high revenue, globally.
• Depending on the source, the residential segment garnered major share of the smart waste management market in 2019.
• Region wise, North America region dominated the smart waste management market in 2019.
• Asia-Pacific region is expected to witness a high growth rate during the forecast period.
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David Correa
Allied Analytics LLP
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