Commercially viable smart waste technologies and an increasing interest in connectivity and city IoT networks are expected to foster market growth
November 30, 2016
A new report from Navigant Research examines the global market for smart waste collection technologies, providing an analysis of the market drivers and barriers associated with these technologies, as well as global revenue and smart bin deployment forecasts, segmented by region, through 2025.
Globally, ample opportunity exists for smart waste collection solutions that can increase efficiency and improve the quality of these services. The commercialization of related technologies represents a fertile ground for existing waste haulers and new market entrants, particularly as city administrators face pressure to carry out waste collection as efficiently and effectively as possible—often on a tight budget. According to a new report from Navigant Research, the global smart waste collection technology market is expected to grow from $57.6 million in 2016 to over $223.6 million in 2025.
“Due to population growth and urbanization, the amount of municipal waste generated throughout the world continues to accelerate,” says Christina Jung, research associate with Navigant Research. “Smart solutions for tracking waste levels, route optimization, and operational analytics allow municipalities and waste service managers to optimize waste management services, reduce operational costs, and better address the environmental issues associated with inefficient waste collection.”
According to the report, most municipal waste collection operations focus on emptying containers according to predefined schedules at a set frequency, creating the possibility of half-full bins being emptied, poor use of city assets, and unnecessary fuel consumption. While the smart waste collection market is still in its early phase, a wide availability of commercially viable technologies and growing interest in connectivity and city IoT networks are expected to drive growth in this market, reducing these issues.
The report, Smart Waste Collection, examines the global market for smart waste collection technologies, with a focus on innovations happening in the first key element of the municipal solid waste management value chain: waste collection. The study provides an analysis of the market drivers and barriers associated with smart waste collection technology. Global market revenue and smart bin deployment forecasts, segmented by region, extend through 2025. The report also discusses urbanization trends and provides profiles of the key industry players within the smart waste collection market.