Smart Waste Collection Market: Introduction
The global smart
waste collection market is
anticipated to reach value of US$ 4.5 Bn by 2027.
The smart waste collection market is projected to expand at a CAGR of ~7% from 2019 to 2027 in
terms of revenue. Growth of the smart waste collection market can be attributed
to the adoption of the IoT technology encouraged by governments for smart waste
collection in smart cities, which has triggered growth of the market globally.
Over the forecast period, North America is anticipated to emerge as the leading
smart waste collection market, followed by Europe and Asia Pacific.
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Government Trend of Smart Waste Collection in Smart
Cities with Adoption of IoT Technology
Rising government initiatives, strict regulations, and
large- scale investments with the emergence of IoT has revolutionized and
addressed operational costs for smart waste collection systems and their
management across smart cities worldwide. In addition, increasing adoption of
IoT technology that connects a range of smart sensors and devices to monitor
and automate city waste management operations is positively impacting the smart
waste collection market across the globe.
Furthermore, sensor-based technologies are the key to
develop and implement smart solutions in waste collection and management. In
smart cities, governments are investing in advanced solutions, which include
navigation systems, tracking sensors, smart vehicles, and smart bins, so as to
improve the solid waste management process. Increasing adoption of IoT based
sensors is improving the waste collection process, which in turn is expected to
drive the smart waste collection market over the forecast period.
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