Getting rid of accumulating waste has become a major challenge for the society todayy, thereby affecting the safety and sustainability of our ecosystem.
Moreover, there is a lack of traceability and transparency across the waste value chain and in most of the cases waste transactions, trading and monitoring are related to cumbersome and manual processes.
The current solution- garbage does not provide any kind of accurate sorting, being people responsible for the adequate disposal of the waste either at home and within the different bins availables. After that, in the majority of cases waste is either incinerated or stacked in different places, causing harm to the environment (air, water and soil pollution) and the people. .
New technologies have emerged as the disruptive intelligent automated machines that will replace the traditional method of sorting waste. As we now, recycling and reusing waste has become an essential task and new solutions are needed to fight the increasing of waste production in relation to the growth of the world population.
Is not only said by us, the Smart waste management market is is expected to grow owing to the increasing number of smart city initiatives and strict government regulations, expected to expand at 18.6% CAGR.
The waste management market was valued at 330.6 Billion US Dollars at 2017, and is projected that will reach 530 billion U.S. dollars in 2025, growing at a CAGR of 6% from 2018 to 2025.
Last details were given by many market analysis firms showed that current waste and resource management lacks a holistic approach which covers the whole chain of product design, raw material extraction, production, consumption, recycling and waste management.
In this line, the traditional waste management market is turning into the new “smart waste management” market which is growing much rapidly in terms of revenues, technologies and employment and much players are turning into this new market scenario. And what about costs? It is clear that this new technologies are driving a much higher process efficiency and lowering costs with a direct impact on revenue streams thanks to unique recognition protocols made possible by sensors, machine learning, and artificial intelligence.