The global market for smart waste management is projected to reach US$ 2 billion in 2022, growing at a 20% CAGR during the assessment period. Globally expanding smart city construction is anticipated to support market expansion and drive market revenue to almost $5 billion by 2032.
According to FMI, the market for smart waste management in Europe is expected to continue to see high demand. According to Eurostat, each resident of the European Union produced more than 5.2 million tonnes of waste in 2018. This number is expected to increase in the forthcoming years, which is resulting in high demand for smart waste management solutions.
Further, expansion of the tourism sector, rapid development of residential projects such as smart cities, and stringent regulations regarding waste management and sustainability across the U.K., France, and Germany will augment the growth in the market.
Request For Sample Copy: https://www.futuremarketinsights.com/reports/sample/rep-gb-819
Smart waste management makes use of cutting-edge technologies like Radio Frequency Identification (RFID) disposal tags, vacuum containers, and sensor containers that measure the amount of solid municipal waste in containers in real time. In the end, cost-effective waste management saves on fuel and services. Proper and efficient management of solid waste through smart waste management can solve many problems related to environmental pollution, climatic changes and public health.
The overall cost of waste management, including transportation and collection, is reduced by almost 50% thanks to smart waste management. The management of waste produced by homes, businesses, streets, public spaces, hospitals, and other institutions is referred to as smart waste management.
The evolution of solid waste is a major threat to community and environment and at the same time can be useful as strategic renewable resource. Municipal waste remains a foreseeable by-product of civilization and a main target for advancement in technology. Meanwhile, the waste management market is entering a period of active change as the total volume of waste generated is estimated to grow from 1.5 billion tons in 2014 to 2.3 billion tons by the end of 2025.
Global Smart Waste Management Market: Drivers & Restraints
More than 90% of waste volume is expected to be generated from Asia Pacific and Africa, primarily in emerging economies such as India and China. The growing volume of e-waste is a major concern at the global level which drives the global smart waste management market during the forecast period. Rapid advancement in technology and increasing purchasing power of consumers have played a major role in generation of electronic waste.
Consumers tend to replace the older or obsolete products with the latest version available in the market leading to dramatic rise in e-waste worldwide. Effective and advanced smart waste management technologies like gasification and RFID are gaining momentum in developed economies of North America and Western Europe.
The development of advanced infrastructure to support the smart waste management market is very expensive which acts as a major challenge in most of the developing countries all over the globe. Increasing urbanization rates followed by rising incomes are some other factors which fuel the global smart waste management market during the forecast period.
Talk with our expert: https://www.futuremarketinsights.com/ask-question/rep-gb-819
Global Smart Waste Management Market: Region-wise Outlook
In terms of geography, the global smart waste management market has been divided in to seven key regions including North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan. The global smart waste management market is expected to register a double digit CAGR during the forecast period. North America followed by Western Europe and Asia Pacific are expected to dominate the smart waste management by the end of 2025. Asia Pacific, especially its emerging economies of India and China is expected to register a high CAGR among all other regions by the end of 2025.
Global Smart Waste Management Market: Key Players
Key players in the global smart waste management market include Covanta Energy, Republic Services, Veolia North America, BRE SMART Waste, Harvest Power and Recycle Smart Solutions.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, services and applications.
Read More:
https://princepawar0.blogspot.com/2022/10/global-high-pressure-processing.html
https://descubre.beqbe.com/high-pressure-processing-equipment-marke–2