The smart waste management market is projected to grow from USD 1.08 billion in 2016 to USD 2.37 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 16.9% due to increase in the number of smart city initiatives and strict regulations imposed by regulating bodies for environment protection and waste disposal.
The report ” Smart Waste Management Market by Solution (Asset Management, Analytics & Reporting, Fleet Tracking & Monitoring, Mobile Workforce Management), Service (Consulting, Managed), Application (Retail, Manufacturing, Healthcare) – Global Forecast to 2021 “, analyses and studies the major market drivers, restraints, opportunities, and challenges in the emerging nations.
“Optimization solutions segment to grow at the highest rate during 2016-2021”
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“Growing smart city initiatives and strict regulatory compliances are expected to drive the smart waste management market”
Smart Waste Management Market Drivers
1. Need for energy and time efficiency
2. Need to adhere to the regulatory compliances
3. Increasing smart city initiatives
Smart Waste Management Market Restraints
1. Lack of proper funding and high initial cost
2. Low level of operational efficiency and technology infrastructure in the emerging countries
4. Evolution of Internet of Things and smart technology
5. Environmental concerns and green initiatives
Smart Waste Management Market Challenges
1. Lack of awareness regarding smart waste management solutions
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Smart Waste Management Market Key Players
The report also contains the profiling and competitive landscape of the major technology vendors.
Optimization solutions segment is estimated to grow at the highest rate during the forecast period. The key trends contributing to this market growth are the increased usage of connected devices that help in easing the monitoring and tracking of fleets and workforce.
“Manufacturing and industrial application to have the largest market size during the forecast period”
The manufacturing and industrial application is expected to have the largest market size during the forecast period due to generation of large quantities of waste. The waste generated from chemicals and manufacturing facilities is hazardous and has different disposal regulations, which have led the manufacturing and industrial application segment to focus more on smart waste management.
“North America to have the largest share, Asia-Pacific (APAC) witnessing the highest growth during 2016–2021”
North America is expected to hold the largest market share of the smart waste management market in 2016 owing to strict regulations and technological advancements. APAC is expected to have the highest growth rate during the forecast period owing to the increasing adoption of technology and cheap availability of connectivity hardware.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel.
The major trends in the smart waste management market include increasing generation of waste resulting in landfill problems and the need for operational efficiency for waste collection service providers. Huge opportunities are present for smart waste management in the untapped geographic regions, especially in the Middle East and Latin America.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the smart waste management market; high-growth regions; and market drivers, restraints, and opportunities.
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The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on smart waste management offered by the top players in the global smart waste management market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the smart waste management market
• Market Development: Comprehensive information about lucrative emerging markets—the report analyses the markets for smart waste management across regions
• Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global smart waste management market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global smart waste management market
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