The global smart waste management market is projected to grow at a significant CAGR during the forecast period. Smart waste management refers to the management of waste in such a way that it causes the least pollution. Wastes create harm to the environment;however, the innovations have led to the development and introduction of smart waste management techniques, which has helped in efficiently reducing such wastes. Due to the growing population and urbanization, there isan increased demand for smart waste management techniques. Some of the techniques include routing, GPS, fuel switching, RFID,and pneumatic tubes, among others. However, wrong techniques of waste disposal lead to environmental hazards and health issues, thus, it has become a matter of concern to follow the smart ways to dispose of or manage waste.

Further, novel technologies are being introduced in public as well as private utilities, thus, to streamline and optimize the performance, the smart garbage and smart bins have been introduced. It also contributes to the development of smart cities globally. Moreover, sensors and GPS attached to the garbage bins for managing and monitoring and communication systems are also attached to these systems which transmits the information about the waste collection to the cloud.

In addition, owing to its benefits, the municipalities, industrial bodies, and other waste management companies are opting for smart waste management techniques, which again boosts market growth. Some of the common processes include smart waste collection, smart waste processing, smart recycling waste,and recovering useful entities from the waste. 

Segmental Outlook

The global smart waste management market is segmented on the basis of system and applications. Based on the system, the market is sectioned into the smart waste bin collection system, smart fleet management & logistic solution, and smart waste recycling system. Based on the application, the market is segmented residential and non-residential, which includes commercial, industrial, municipal, and other wastes.

Global Smart Waste Management Market, by System 2018 (%)

Smart Waste Recycling System to Hold Significant Share in the Market

Amongst the system, the smart waste recycling system is projected to hold the most significant share in the market. The segmental growth is attributed to the smart ways to recycle waste in the countries. Several government regulations regarding various types of waste recycling have been imposed, which further drives the segmental growth of the market. There are various norms and policies for the proper disposal and recycling of the wastes as it does not cause any harm to the environment. Thus, smart waste recycling system is expected to contribute a significant share in the global smart waste management industry.

Regional Outlook

The global smart waste management market is geographically segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to hold a significant share in the market during the forecast period. This is attributed to the early adoption of the smart bin process amongst the users. Further, there are several footprints of the key players operating in the region indulged in the continuous R&D activities regarding new technologies and advanced recovery facilities which is further fueling the market growth during the forecast period. Whereas, followed by North America, Europe, and the Asia-Pacific region are also witnessing significant growth during the forecast period.

Global Smart Waste Management Market by Region, 2018 (%)

Market Players Outlook

Some of the prominent players operating in the global smart waste management market include Bigbelly Inc., Building Research Establishment Ltd., Covanta Holding Corp., Ecube Labs Co. Ltd., IBM Corp., Pepperl+Fuchs GmbH, Republic Services Inc., SAP SE, SENSONEO, Smartbin, andSUEZ Group,among others. These are the key companies adopting several organic and inorganic growth strategies such as product launches & developments, partnerships, agreements, and acquisitions to strengthen their product portfolios and maintain a competitive position in the global smart waste management market.

For instance, in April 2019, SUEZ and LyondellBasell established partnership with Samsonite for producing 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 Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global smart waste management market. Based on the availability of data, information related to products& services, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.