LONDON--(BUSINESS WIRE)--The global smart waste management market is expected to post a CAGR of close to 18% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the improved operational efficiency of waste management lifecycle. Smart waste management improves the operational efficiency of the waste management lifecycle. Smart waste management uses smart bins, which are equipped with lasers to detect and eliminate bin overflow. For example, companies such as Enevo have developed a software system that works in conjunction with a sensor in the bin to communicate with the waste management company and estimate the temperature inside the bin, the capacity of the bin, and the need for emptying.
This market research report on the global smart waste management market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the advent of smart technologies as one of the key emerging trends in the global smart waste management market:
Global smart waste management market: Advent of smart technologies
There have been several advances in technologies such as advanced driver-assistance systems, autonomous cars, Industrial Internet of Things, AI infused hardware, and real-time and embedded systems. The advent of such advanced technologies will improve the fleet data capture process by introducing efficiency.
“For example, in 2017, companies such as Waste Management equipped waste collection trucks with tablets and windshield-mounted drive cameras and implemented a back-end routing software in the waste collection process. The growing volume of data generated by from these cameras and trackers can be used to optimize service delivery and track driver performance. The use of such equipment provides real-time data to improve the process awareness of drivers,” says a senior analyst at Technavio for research on water and waste management.
Global smart waste management market: Segmentation analysis
This market research report segments the global smart waste management market by application (collection, landfill, R&R, and processing) and geographical regions (APAC, EMEA, and the Americas).
The collection segment held the largest market share in 2017, accounting for nearly 62% of the market. This application segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2017 with a market share of nearly 38% of the market share. The market share occupied by this region is anticipated to decrease during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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