Current Business Affairs Global Smart Waste Management Market 2018

Smart Waste Management Market Analysis by Type of Waste, By
Method, By Application, By Region & Segment Forecast, 2017 – 2025
Market Definition:
The Smart Waste Management market was estimated at USD 1.12 billion in 2016, and is projected to reach USD 4.44
billion by 2025, growing at a CAGR of 16.7% over the forecast period. Government initiatives to decrease illegal dumping
coupled with the implementation of sustainable process for managing waste is expected to propel the global market
growth. Furthermore, growing adoption of recycling techniques and Waste to Energy (WTE) incineration is also expected
to further fuel the growth.
Resource Conservation and Recovery Act (RCRA) from EPA has been introduced with an objective of reducing open
dumping and hazardous and nonhazardous waste management. According to UNESCAP, the ASEAN nations have
witnessed an annual urban population growth rate of around 3% in the past few years. The shifting focus of rising
population towards sustainable power generation from left-over materials, has anticipated the industry growth.
Furthermore, Climate Change Act of 2008, launched by UK government focuses on reducing UK’s GHG emissions to 80%
by 2050, thereby, various government initiatives coupled with growing awareness towards environment protection has
been projected to augment the industry over the forecast period.
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Market Growth and Analysis:
The waste management market comprises the solid wastes discharged from residential & commercial societies, streets,
hospitals, public places, and other institutions. Solid wastes can cause severe environmental hazards resulting into the
rise of toxic elements and depletion of oxygen in atmosphere. Thus, increasing demand for clean surrounding and
sustainable environment develops solid waste management as an emerging field over the forecast period. Additionally,
stringent environmental regulations by government and rising concern towards environment, IT corporate industries,
and others industries are implementing several smart waste management process. The process includes processing and
re-processing, collection of waste, recycling and ultimately resulting into efficient disposal.
Growing interest of industries in waste management along with technological developments towards maximizing the
renewable benefits of waste are expected to positively impacting the market. Rising e-waste accompanied by growing
purchase power of consumer is another factor driving the global market. However, the high installation & operational
cost involved is anticipated to act as a major hindrance to the market growth.
On the basis of type of waste, the report includes the market share, revenue, and growth rate of each type, primarily
split into
• Solid Waste
• Special Waste
• E-Waste