Industry Background:
Smart waste management involves all the automated functions and actions related to waste collection, routing, disposal, recycling and many other services. It also involves technologies in combination with a software solution to manage the waste management lifecycle. Several hardware systems are used in developing smart waste management systems including intelligent sensors, smart waste bins, embedded systems, and smart trackers integrated with waste liners are an integral part of smart waste management. On the other hand, smart waste management is one of the key aspects in the development of smart cities (along with water management, energy management, traffic management, etc.,) in order to provide improved lifestyle in the urban areas. The increasing adoption of smart city initiatives across regions supports the growth of the smart waste management market. The growing complexity in the logistics of waste collection and the need to comply with regulations pertaining to waste processing demand better waste management solutions. However, the smart waste management market is at a nascent phase and it is expected to grow significant growth over the forecasted period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | IBM Corporation (United States), SAP SE (Germany), Waste Management, Inc. (United States), Enevo (Finland), Bigbelly Solar, Inc. (United States), Smartbin (Dublin), Ecube Labs Co., Ltd. (South Korea), Urbiótica, S.L. (Spain), Waviot (Russia) and Pepperl+Fuchs GmbH (Germany) |
According to AMA, the market for Smart Waste Management is expected to register a CAGR of 17.0% during the forecast period to 2027. This growth is primarily driven by Increasing Awareness about Environmental and Residential Cleanliness and Upsurging Government Reimbursements in Developing Technologically Enhanced Smart Waste Management Systems.
Globally, a noticeable market trend is evident Growing Adoption of IoT Enabled and Artificially Intelligent Waste Management Systems
The Robotics & Automation sector in the Europe region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as IBM Corporation (United States), SAP SE (Germany), Waste Management, Inc. (United States), Enevo (Finland), Bigbelly Solar, Inc. (United States), Smartbin (Dublin), Ecube Labs Co., Ltd. (South Korea), Urbiótica, S.L. (Spain), Waviot (Russia) and Pepperl+Fuchs GmbH (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. In the current scenario, the global technological infrastructure has been robustly developing across all the industries. Also, some of the developing have opted to develop a digital equipped system to highly automate and simplify day to day activities. Thus, increasing the need for highly automated hardware systems and respective platforms have been increased across the globe. This has ultimately prevailed instances of research and developments in the global industrial sector.
Key Developments in the Market:
In 2022, A legally binding agreement for the acquisition of EnviroServ Holdings Proprietary Limited (“EnviroServ”) has been signed between SUEZ, Royal Bafokeng Holdings (“RBH”) and African Infrastructure Investment Manager (“AIIM”). The acquisition will solidify SUEZ's presence on the African continent and position it internationally important in the treatment of urban and industrial waste. and In February 2019, IBM announced a new portfolio of Internet of Things (IoT) solutions that team artificial intelligence (AI) and advanced analytics designed to help asset-intensive organizations, such as the Metropolitan Atlanta Rapid Transit Authority (MARTA), to improve maintenance strategies.
In 2022, SUEZ has announced that it has agreed to a three-year partnership with the FDJ Group to serve as the main co-sponsor of the first French team to participate in the UCI Women's World Tour. and In April 2019, SUEZ and LyondellBasell partnered with Samsonite to produce the first suitcase collection made from recycled plastics. This is the first suitcase composed of post-consumer plastic waste, the shells are composed of recycled polypropylene (PP) from packaging and the inside fabric of recycled PET bottles. The product is not only environmentally responsible but also light and strong for the best travel experience.
Influencing Trend:
Growing Adoption of IoT Enabled and Artificially Intelligent Waste Management Systems and Increasing Demand for Smart Waste Management Systems from Residential Applications
Market Growth Drivers:
Increasing Awareness about Environmental and Residential Cleanliness and Upsurging Government Reimbursements in Developing Technologically Enhanced Smart Waste Management Systems
Challenges:
Stringent Government Regulations in Developing Smart Liquid Waste Management Systems and Significant Post Purchase Maintenance required in Repair and Maintenance of Smart Waste Management Systems
Restraints:
Higher Initial Investments in Developing the Smart Waste Management Systems and Continuously Changing Consumer Preferences about Highly Automated Systems
Opportunities:
Increasing Awareness about Smart waste Management from Developing Economies and Rising Prevalence of Diseases Caused Amongst the Waste Management Workers on Exposure to Hazardous Waste
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Smart Waste Management Market
- Analysis about New Entrants in Smart Waste Management Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Smart Waste Management Study Sheds Light on
The Smart Waste Management Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Smart Waste Management industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Smart Waste Management industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.