Latest News- Smart Waste Management Market: Collection is expected to lead the Application segment during 2025-2029

The Smart Waste Management Market is being driven by Increasing urbanization leading to urban waste generation

The Smart Waste Management Market is expected to grow at a CAGR of 21.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 4619.7 million. In the Smart Waste Management Market, vendors are forging strategic alliances with key players, including government entities and fellow vendors, to amplify their market reach and secure a significant revenue share. These collaborations empower end-users with real-time data tracking capabilities, enabling them to make informed decisions and monitor trash levels in real-time. Notable partnerships include: 1. Compañía de Limpieza Urbana de Bogotá SA and Bigbelly 2. Veolia and Bigbelly 3. SUEZ and Bigbelly The proliferation of these strategic partnerships is fueling the adoption of smart waste management solutions on a global scale. The integration of advanced technologies and components into trash bins, facilitated by these collaborations, will result in the deployment of efficient, real-time information-driven waste management systems. This trend is expected to significantly contribute to the expansion of the global Smart Waste Management Market during the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Collection
  • Landfill
  • Recovery and recycling
  • Processing
• Type
  • Solid waste
  • Special waste
  • E-waste
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing urbanization leading to urban waste generation
• Stringent government regulations for hazardous waste management
• Growing industrial waste

However, the market also witnesses some limitations, which are as follows:

• Challenges associated with effective deployment of smart waste management solutions
• Need for advanced infrastructure in rural areas
• High cost associated with implementation of smart waste management solutions

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Market Scope in Smart Waste Management Market Research Report

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Research Analysis Overview

In the realm of sustainable and efficient waste management, the Smart Waste Management Market is thriving. This market caters to various sectors, including residential buildings, commercial spaces, and public places. It integrates sensor-based containers, such as vacuum containers and IoT-based waste bins, with disposal tags and disposal volume sensors for intelligent monitoring and route optimization. Solid municipal waste collection is revolutionized through remote monitoring, IoT sensors, RFID, GPS, and cameras on mobile computers. Smart city initiatives prioritize waste processing and segregation, resulting in cost savings, improved hygiene, and reduced environmental impact. Sensor technologies, including RFID and IoT sensors, enable real-time trash production data and sensor-based services, enhancing waste management efficiency.

Market Research Overview

The global environmental and facilities services market encompasses businesses offering solutions for environmental and facilities maintenance, encompassing waste management, facilities management, and pollution control services. According to Technavio, market size is determined by the consolidated revenue generated by these companies. Key growth drivers include heightened focus on sustainability and environmental stewardship, urbanization, and the implementation of smart city initiatives. Concerned authorities prioritize waste management solutions that ensure public health and adhere to environmental regulations. Innovative strategies, such as advanced technology from industry leaders like Covanta Holding Corporation, Suez Environmental Services, Veolia Environmental Services, Bigbelly Inc, and Waste Management, Inc, are pivotal in enhancing efficiency and promoting recycling and disposal methods that minimize environmental impact.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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