Global Smart Waste Management Market to Grow at a CAGR of 10.8% During 2024-2032, Aided by the Deployment of Smart Management Systems by the Food Sector

The global market for smart waste management is growing with the huge amounts of solid, special, and e-waste being disposed of every day. Digital technology like AI and IoT are substantially aiding the smart waste management process and are therefore promoting the growth of the market. The amount of food being disposed of as part of the production process is one sector where the smart waste management is leveraged to its full potential. About one-third of food is lost or wasted each year from farm to market. With the help of AI and other analytical tools, companies can identify waste products along with data such as the movement of waste inside kitchens, thereby aiding in preventing waste even before it occurs. Apart from this, the market has significantly grown with the amount of waste material being generated as a result of the COVID-19 pandemic. Hazardous, chemical, and medical waste in the form of syringes, plastic in the form of PPE, masks, and vaccination bottles. This has generated the need for an effective waste disposal system, hence bolstering the market of smart waste management.

Bratislava, the capital of Slovakia, has recently announced a collaboration with Sensoneo for a project aimed at waste digitalisation and efficient waste collection. Trash bins in the city are being installed with RFID sensors that are being monitored using Sensoneo’s Inventory digitalisation app that allows one-click identification with RFID codes. The GPS tracker further aids in identifying the movement of waste to ensure effective disposal and track misplacements, if any. The city will also deploy Sensoneo’s service monitoring tool, WatchDog, on all vehicles to test the functionality of automatic identification of bins and bags authorised for waste collection, automatic verification of pick-up of each bin, and a precise recording of all the routes made. The project is supported by a grant from the European Innovative Council, received by Sensoneo in 2020. The project further includes several stages that are projected to be implemented continuously till 2022. Such developments are leading to the growth of the market. The growth in the market is being further augmented by expansion strategies employed by leading players like Covanta Holding Corporation (NYSE: CVA).

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Market Analysis by Waste Type, Method, Source, and Region:

• On the basis of waste type, the market can be divided into smart waste management are solid waste, special waste, and e-waste.

• Based on the method, the market can be categorised into the smart collection, smart processing, and smart disposal.

• The market, based on source, can be segmented into residential, commercial, and industrial.

• The major regional markets for smart waste management are North America, Latin America, Europe, the Asia Pacific and the Middle East and Africa.

Key Findings of the Report:

• The market is primarily being driven by the advent of digital technology such as AI, IoT and ML that drives the waste management process.

• The ubiquity of smartphones and internet accessibility has invigorated the smart waste management process with the development of applications to aid in the process.

• The market growth is anticipated to be bolstered by the deployment of smart waste bins in smart cities during the forecast period.

• The food and beverage industry and the healthcare sector are effectively leveraging smart waste management process to dispose and manage solid waste, thereby boosting the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global smart waste management industry for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) markets for waste types, methods, sources, and major regions.

• The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global smart waste management market are Covanta Holding Corporation, Veolia Environnement S.A., Republic Services, Inc., Sensoneo j.s.a., and BigBelly, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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