A report from Wellesley, Massachusetts-based BCC Research LLC concludes “the global market for intelligent waste management systems is currently worth $430 billion,” and the market will grow steadily.
“Recent endemic diseases such as the coronavirus have impacted the waste management market positively,” says Allen Winske of the firm. “People across the world are becoming more cautious about the disposal of hazardous and nonhazardous products.”
The report, prepared by BCC Research Analyst Sinha G. Gaurav and titled “Intelligent Waste Management Systems Market,” forecasts the market could reach $600 billion by 2025, indicating a compound annual growth rate (CAGR) of 6.9 percent.
Subsectors of what BCC Research considers intelligent waste management include the chemical and biological treatment of materials; the use of hardware such as sensors and bins; and waste notification software, fleet monitoring software, waste separation software and database management systems. The hardware and software technologies are labeled collectively as telematics by some industry analysts.
The report includes among “major players in the market” waste firms such as Suez Environmental Services and Veolia Environmental Services; collection technology providers such as Enevo and Sensoneo; and wider tech firms such as IBM.
Although the report forecasts landfilling remaining the number one disposal method for non-recyclable materials, it points to biological treatment as likely to be the fastest growing method between 2020 and 2025. “The biological treatment devices market should grow from $133.8 billion in 2020 to $208.1 billion by 2025 at a CAGR of 9.2 percent through 2025,” writes BCC.
Common biological treatment methods include composting, anaerobic digestion (AD) and the creation of refuse-derived fuel (RDF) and other engineered waste-to-fuels products.