Smart waste management companies provide technology-driven solutions to optimize waste collection, recycling, and disposal processes. They use sensors, data analytics, and route optimization to reduce costs and environmental impact. Smart waste management companies contribute to more efficient and sustainable waste management practices.
Competitive Landscape of Smart Waste Management Market:
The global smart waste management market is projected to experience significant growth in the coming years, driven by increasing focus on sustainability, growing adoption of smart cities initiatives, and rising awareness about waste management challenges. This burgeoning market presents a fertile ground for various players, attracting established companies as well as emerging startups.
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July 2023 - The city corporation at Thiruvananthapuram will be implementing solid waste management system that is digitally integrated as a part of the Smart City project. In fact, the civic body that has suffered often from data documentation and shoddy monitoring considering waste management is likely to benefit largely from the system. According to the tender document, this project will envisage a waste collection & transportation system which utilizes GPS-enabled cars for tracking collection routes and optimizing pick-up schedules. A digital platform will also be there that will enable residents in reporting waste issues and tracking their disposal & waste collection’s status along with a feedback system which allows citizens in reporting their satisfaction and giving suggestions for improvements.
June 2023 - Rubicon has lately announced the launch of the smart city partnership for improving efficiency in the solid waste collection operations. This smart city product will help in digitizing the CCD’s waste collection transitioning solid waste management division’s drivers from manual routing and paper-based maps to Rubicon’s software. Now supervisors and managers across the department have real-time insight into route progress, the service completion & any issue at the curb. The drivers can help with one another’s routes during a breakdown and get updates to the routes when they happen. The department leaders can utilize analytics based on all the data for identifying issues and creating solutions. All such improvements will allow the Department to offer more effective and efficient curb side collection service.  This alliance is a testament to the overwhelming commitment of Denver to efficiency and innovation to deliver their residents with core public services.
According to the reports, the Global Smart Waste Management Market size is projected to grow at a compound annual growth rate (CAGR) of 13.20%, reaching a market size of USD 10.2 billion by 2032. Smart waste management is the process of collecting, transporting, and properly disposing of trash in a manner that has the least amount of environmental impact. It is possible to implement smart waste management by incorporating sensors into trash containers, which may be used to monitor the amount of waste in waste bins and inform the municipal garbage collection services when the bins need to be emptied. The information gathered by the sensors is used to detect fill trends, decrease operating expenses, and improve driver timetables and routes, amongst other things.
Figure 1: Smart Waste Management Market Size, 2024-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Smart Waste Management Market Covid 19 Analysis:
During the COVID-19 pandemic, the implementation of smart city technology, such as smart bins, was expedited, as was the use of smart bins. In India, an alumni of the Indian Institute of Technology (IIT) Kanpur has developed a smart container that has a unique layer on the surface of its opening that reduces the lifetime of the virus by up to 95 percent. This assists in reducing the danger of contamination to other customers as well as increasing the degree of safety while dealing with trash.
Smart Waste Management Market Dynamic:
Drivers: An increase in the number of connected devices being used, as well as an increase in the need for cost-effective sophisticated network infrastructure, are driving the development of smart waste management solutions. It is necessary to integrate creative waste management solutions to conduct a variety of activities, including performance and performance monitoring, configuration, and accounting, in order to improve performance while simultaneously reducing time and operating costs.
Opportunities: Increasing acceptance of technology advances such as the Internet of Things (IoT) for trash collection, as well as an increase in the number of people using them in developing nations, are expected to provide profitable opportunities for market participants over the forecast timeframe.
Restraints: High capital expenditures and an absence of effective connection are expected to hamper the development of the smart waste management industry in the near future.
Challenges: According to projections, the worldwide smart waste management industry would see challenges due to a lack of efficient connection and expensive starting costs.
Cumulative Growth Analysis: Advanced techniques such as radio frequency (RFID), the Internet of Things (IoT), and global positioning systems (GPS), among others, are extremely popular for cost-effective smart trash-collecting techniques that are both efficient and environmentally friendly. As a result of this tendency, which is particularly apparent in urban areas to offer a better environment and public health, smart waste management technologies are being adopted by urban societies at an increasing rate. For example, at Shanghai's Zhangjiang High-Tech Park, artificial intelligence-powered smart garbage bins have been placed (China). Another 2,000 artificial intelligence-enabled smart trash bins are expected to be installed by the end of 2019 and will be provided by Alpheus, an AIoT (artificial intelligence + IoT) technology firm that specializes in waste management.
Value Chain Analysis: According to the reports, the worldwide smart waste management market has been categorized based on the element used, the kind of trash generated, the technique used, the application used, and the region used. The smart waste management market has been divided into three categories based on the component used: hardware, solution, and services. Further, the solution sector has been subdivided into data analytics and reporting solution, remote device monitoring solution, asset tracking, network monitoring, asset management, and other categories of solutions.
The smart waste management market has been divided into three categories based on the kind of trash generated: solid waste, special waste, and e-waste. The smart waste management market has been segmented into four categories based on the manner of collection: smart collection, smart processing, smart disposal, and smart energy recovery. The smart waste management market has been divided into many categories based on application, including industrial and commercial, healthcare, food and retail, building, domestic, and others.
Smart Waste Management Market Segmentation Overview:
The market is segmented on the basis of the element used, the kind of trash generated, the technique used, the application used, and the region used. The global smart waste management market trends are expected to witness decent growth during the forecast period.
By Application: Based on the application, the market is segmented into industrial and commercial, healthcare, food and retail, building, domestic, and others.
By end-users: Based on the propulsion types, the market is segmented into solid waste, special waste, and e-waste.
Smart Waste Management Market Regional Analysis:
According to the reports, On the basis of geography, the worldwide smart waste management market has been divided into the following regions: Asia-Pacific; North America; Europe; the Middle East & Africa; and South America. North America had the biggest smart waste management market share of the market in 2018, accounting for USD 1,095.0 million in total market value. In this area, the smart bin process has been one of the most widely used, which is a key driver driving the market's expansion. In the area, there are many major players that are investing in the research & technological development and improved recovery capabilities, which is also contributing to the market's continued expansion.
For the sake of this study, the European market has been divided into four categories: Germany, the United Kingdom, France, and the rest of Europe. During the projection period, the market in Europe is projected to grow at the fastest rate, with a compound annual growth rate (CAGR) of 20.2 percent. Europe is expected to have the quickest smart waste management industry, according to forecasts. The area features effective legislative policies implemented by governments in a number of nations, which is fueling the market's expansion. Furthermore, rising public awareness of e-waste recycling and government efforts are some of the factors contributing to the market's expansion and development.
Smart Waste Management Market Competitive Landscape:
When it comes to expanding their customer services, several rivals in the smart waste management industry have turned to agreements, partnerships, and acquisitions as their primary growth methods. For example, in August 2020, Collaboration, Republic Services Inc inked a partnership agreement with Aria Energy, a renewable energy management business headquartered in the United States. The collaboration intended to convert landfill methane into renewable natural gas.
Smart Waste Management Market Major Key Players:
Report Overview:
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Recent Developments:
The Metropolitan Atlanta Rapid Transit Authority (MARTA) has launched a new portfolio of Internet of Things (IoT) solutions that combine both sophisticated analytics and artificial intelligence to assist companies such as MARTA in improving their maintenance plans. Companies in asset-intensive sectors such as chemicals, oil and gas, energy and utilities, manufacturing, and transportation will find these solutions to be very beneficial.
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Smart Waste Management Market Highlights:
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