BizVibe has identified the increasing adoption of the IoT for smart waste management as a major trend for the waste management services industry. The IoT is increasingly being adopted for smart waste management solutions. For instance, sensors that enable smart bins to alert the garbage collectors once the bin is filled to a certain level are becoming increasingly popular.

They also enable organizations that provide remediation and other waste management services to track the location of these bins. This helps waste management companies to improve the efficiency of their services. This trend is expected to have a strong influence on waste management service companies, especially in North America and Europe.

According to the World Bank, across the globe, about 1.3 billion metric ton of waste is generated every year and is expected to reach 2.3 billion, by 2020. This increase can be attributed to the rapid urbanization and industrialization, across regions.

• Smart waste managment is a key aspect in the development of smart cities (along with water management, energy management, traffic management, etc.,) in order to provide improved lifestyle in the urban areas. The increasing adoption of smart city initiatives across regions supports the growth of the smart waste management market.
• The waste management industry involves various activities, such as collection, transportation, disposal, and recycling. The industry has been facing efficiency issues at different stages of waste management, specifically, the operational costs corresponding to the collection and transport of waste, thereby leading to the increasing adoption of smart waste management.
• The growing complexity in the logistics of waste collection and the need to comply with regulations pertaining to waste processing demand better waste management solutions, which are made possible by the use of technologies, such as IoT sensors, RFID, GPS, etc. Although the smart waste managements market is at a nascent phase, it is expected to witness a healthy growth, owing to the availability of commercially viable technologies and operational benefits.

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