The global smart waste market is expected to grow at a CAGR of 16.82 percent from 2014 to 2019, according to a TechNavio report.
The use of smart waste technologies minimizes the overall cost involved in solid municipal waste collection. These technologies use RFID and sensor-based containers that facilitate real-time, easy-to-use web portal services for fill level measurement.
Faisal Ghaus, vice president of TechNavio, says the sensor-based container — a battery-powered wireless device — halves the collection and logistics cost of waste disposal. This and other smart waste technologies that reduce the cost of solid municipal waste collection will propel growth in the global smart waste market, Ghaus says.
The new report also emphasizes key advances in technology in the waste management process. A wide range of waste management technologies have evolved in the fields of waste collection, transportation and disposal, including landfilling, composting, recycling and incineration.
Ghaus says plasma arc gasification and pyrolysis are among the highly efficiency and advanced waste treatment technologies gaining momentum in developed countries.
In a separate report published last year, TechNavio forecast smart pumps will contribute to the growth of the global water desalination pumps market, which is expected to grow at a CAGR of 7.7 percent from 2015 to 2019.
Photo Credit: waste collection via Shutterstock