Annual smart Municipal Solid Waste (MSW) technology revenue will grow from $2.3 billion in 2014 to $6.5 billion in 2023, according to Navigant Research Report.
The emerging smart waste market is expected to grow rapidly over the next decade.
Asia Pacific will see its MSW segment managed by smart technologies more than double between 2014 and 2023.
In the present scenario, Europe and North America are the most established markets.
Smart energy recovery, which includes facilities like incineration plants, landfill gas capture projects, and advanced bio-refineries, is the most mature smart waste segment.
Stringent regulations on waste disposal and increasing cost of landfilling are driving factors for innovative solutions in (MSW) value chain in developed countries.
The focus is on creating a basic infrastructure in the period of rapid urbanization and rising levels of affluence in developing countries.
The emerging smart technologies offer the opportunity to enhance MSW collection, generate renewable energy, and optimize the environmental performance of landfills.
Yet, high capital costs and the localized focus of waste management services remain key obstructions to smart technology dispersal in the waste sector.