CHICAGO, May 23, 2019 /PRNewswire/ -- According to a new market research report "Opportunity Assessment of Waste Management in US Cities by Waste Management Outlook (Budget, Programs, Volume, and Disposal Statistics), Key Initiatives, Market Dynamics, and Cities (Boston, Los Angeles, Philadelphia, Seattle, and San Diego) - Forecast to 2023", published by MarketsandMarkets™, the waste management investments in US cities are expected to grow from USD 1.0 billion in 2018 to USD 1.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period.
Key factors driving the waste management assessment in major US cities include increasing focus on the collection of waste materials and transportation to recycling facilities, sorting material type and selling them to manufacturers to make new products, state governments' increasing focus on waste recycling and energy generation, and growing adoption of smart waste management systems.
Browse in-depth TOC on "Opportunity Assessment of Waste Management in US Cities"
15 – Tables
32 – Figures
144 – Pages
Ask for PDF Brochure:
Increasing focus on waste recycling to create significant growth opportunities for vendors in the US
Population explosion and improved lifestyle result in the increased generation of solid wastes in urban as well as rural areas. In US cities, there is a marked distinction between the solid waste from urban and rural areas. However, due to increased urbanization, fast adoption of 'use & throw concept' and equally fast communication, the gap between urban and rural is diminishing. The solid waste from rural areas is more of a biodegradable nature and the same from urban areas contains more non-biodegradable components, such as plastics and packaging. Recycling organic materials, including food and compostable paper, is the biggest opportunity to reduce trash and focus on recycling initiatives. Organics make up about one-quarter of overall trash, and not many people are participating in organic recycling programs yet. The increasing focus on vendors toward organic waste in the region could provide growth opportunities for the market vendors.
Los Angeles to provide opportunities for vendors of smart waste management solutions
Los Angeles has adopted Smart Waste Management (SWM) solutions and is looking forward to expanding the SWM program to other vendors apart from Bigbelly. LA Sanitation (LASAN) handles waste management activities for single-family and multi-family (less than 4 units) establishments. Franchises (haulers) handle waste management activities for multi-family (with 4 or more units) and commercial establishments. Athens Services, Republic Services, Waste Management Inc., Universal Waste Systems, NASA Services, Ware Disposal Company, and CalMet Services are responsible for waste collection, transfer, recycling, processing and disposal for multi-family and commercial establishments till 2024. However, changes in the Chinese import policy have led to increased waste processing costs and higher volumes of waste being disposed in landfills. Other waste management challenges include hygiene-related issues, due to illegal dumping, increasing complaints about waste pick-up services, and unrest around higher service fees charged by haulers.
Speak to Our Expert Analyst:
IoT-based smart solutions to enhance the efficiency of waste management programs
With growing regional populations, changing policy requirements, new sustainability and recycling goals, and improved technology departments, municipalities across the US are joining the waste recycling movement to become more efficient in managing solid waste and produce energy. IoT for smart waste management solutions has successfully been applied across cities in the US. IoT waste management solutions include the use of sensor-enabled waste bins, technologies such as global positioning systems-enabled (GPS) routing, and radio frequency identification (RFID). IoT-based smart waste management system has various benefits, such as better utilization of manpower, reducing fleet cost, and also the provision of analytical information to determine the cost of waste collection making it easier for civic bodies to set a budget on the same.
The major vendors offering waste management systems include Bigbelly, Inc. (US), Compology (US), OnePlus Systems (US), Ecube Labs (South Korea), Waste Management Inc. (US), Republic Services Inc. (US), Covanta Holding Corporation (US), Recology (US), Athens Services (US), and Bin-e (Poland). The study includes an in-depth competitive analysis of the key players in the waste management market, along with their projects and investments, recent developments, and key market strategies.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/opportunity-assessment-waste-management-us-cities.asp
Visit Our Website: https://www.marketsandmarkets.com