The growing level of waste from various end-use industries coupled with rising environmental concerns is driving the market growth. The rising adoption of smart waste management in developed nations is further fueling market growth. Also, rising governmental initiatives and policies for greener cities and proper waste management are likely to generate high demand for smart waste collection technology in the forecasting period. Moreover, technological advancement in the development of the products for detection and disposal of waste is further pushing the market growth uphill.
The latest report by Value Market Research expects the Global Smart Waste Collection Technology Market to reach USD XX MN by 2030 with a CAGR of XX%.
WIRELESS SENSOR NETWORK LED THE DEPLOYMENT SEGMENT
The wireless sensor networks dominated the deployment segment owing to better on-site waste handling and transfer optimization of waste management is driving the market growth. Better monitoring, detection, and collection of waste by using WSN systems to reduce human intervention and operational costs are further fueling market growth.
SMART CITIES EMERGED AS THE LEADING APPLICATION SEGMENT
Smart cities dominated the application segment owing to the growing urban population leading to rising demand for proper disposal of waste management is driving the market growth. Various favorable government policies for the development of greener and smart cities are further boosting the market demand. The shift in focus towards innovative waste management solutions is fueling the market growth.
NORTH AMERICA DOMINATED THE REGIONAL MARKET
North America led the market owing to rising investment in R&D for the development of novel ways of waste management. Asia Pacific is experiencing fast growth owing to the high demand for renewable energy obtained from the conversion of waste to energy. Also, the rising concern for better and more efficient ways of waste management and the shortage of land is pushing the market growth uphill.
KEY PLAYERS OF THE MARKET
The prominent players of the smart waste collection technology market are Bigbelly Solar, Cognito Tech Solutions, Compology, Ecube Labs, Enevo, IoTsens, SmartBin, SmartUp Cities, System Level Solutions, Urbiotica, and WAVIoT.
As per this study, the Global Smart Waste Collection Technology Market was valued USD XX MN (by revenue) in 2022 and is anticipated to reach USD XX MN by 2030 with a CAGR of XX%.
Smart waste collection technology is used to detect and collect the waste for its proper disposal. The garbage bins used, are well equipped with IoT components such as integrated software packages, RFID (Radio Frequency Identification) disposal tags, smart sensors, cameras, etc. for efficient waste collection. This technology helps garbage-carrier truck drivers to update on real-time data of the level of waste in bins along with route optimization for waste collection.
Market Dynamics
Rising amount of waste generated from the residential, commercial and industrial sector is driving the market growth. Low operational cost along with rising adoption of smart waste management in developed nations is further fueling the market growth. Rising governmental initiates for green cities and proper waste management is likely to generate high demand for the smart waste collection technology market in the forecasting period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of smart waste collection technology.
Market Segmentation
The broad smart waste collection technology market has been sub-grouped into deployment and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Services
By Solution
- Network Management
- Optimization Solutions
- Asset Management
- Reporting and Analytics Solutions
- Others
By End User
- Municipalities
- Manufacturing and Industrial
- Healthcare
- Construction
- Food and Retail
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for smart waste collection technology in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Smart Waste Collection Technology Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the smart waste collection technology market include IBM (US), SAP SE (Germany), Sensoneo (Slovakia), Big belly solar, LLC (US), Inogen Environmental Alliance, Inc. (US), Ecube Labs (South Korea), Covanta Holding Corporation (US), Pepperl+Fuchs (Germany), OnePlus Systems Inc. (US), Urbiotica (Spain). An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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