Annual Revenue from Smart Waste Technology Will Reach $6.5 Billion by 2023
Municipal waste is increasingly viewed as a strategic renewable resource, report finds
The volume of waste generated by the world’s cities is growing in parallel with the world’s population and the pace of economic progress in developing countries. Emerging smart technologies offer the opportunity to enhance the collection of municipal solid waste (MSW), generate renewable energy, and optimize the environmental performance of landfills. Click to tweet: According to a new report from Navigant Research, worldwide revenue from smart MSW technology will grow from $2.3 billion annually in 2014 to $6.5 billion in 2023.
“While the total volume of waste generated globally is expected to grow by nearly 50 percent over the next 10 years, the adoption of innovative technologies will result in more integrated waste management offerings that move beyond the traditional use of labor, diesel trucks, and conventional landfills,” says Mackinnon Lawrence, research director with Navigant Research. “This dynamic evolution in an otherwise stable industry offers a wealth of opportunities for both existing waste hauler stakeholders and new waste-management industry market entrants.”
At the heart of the smart waste evolution, according to the report, is a focus on reducing operational costs and using MSW as a strategic renewable resource for material and energy recovery. This view is supported by technologies for smart collection (using radio frequency identification [RFID] tagging and global positioning system [GPS] routing), smart processing (at advanced recovery facilities that use mechanical biological treatments and refuse-derived fuel production systems), and energy recovery (including waste-to-energy, waste-to-fuels, and landfill gas-to-energy technologies).
The report, “Smart Waste”, analyzes the global market for smart MSW technologies, with a focus on four segments: smart collection, smart processing, smart energy recovery, and smart disposal. Global market forecasts for the volume of MSW generated and managed globally and the revenue generated from the deployment of smart waste technologies, segmented by geography and smart waste segment, extend through 2023. The report also examines key stakeholder initiatives, regulatory issues, market drivers, challenges, and technology developments and profiles the major stakeholders across the MSW value chain. An Executive Summary of the report is available for free download on the Navigant Research website.