The waste management market has surged more than ever today. Valued at USD 383.83 billion in the last year, the market is forecasted to account for a CAGR of 5 percent between 2021 and 2026. These soaring figures indicate a massive rise in waste generation in recent times, especially with the COVID-19. Further, this pandemic has brought major transformations into our lives where people are spending more time at their homes and ordering different office-related products, gadgets and much more. These arrive in plastic packages, bubble wraps, and cardboards necessary to be disposed of in times of a pandemic—all ending up in the landfills.
With the rising volume of waste, the industry is seeing several innovative practices today. One of the foremost is computerized systems utilizing machine learning and other AI algorithms to collect and manage waste. Industrialized robots that automate waste management processes are also deployed to simplify reducing, reusing, and recycling tasks. Besides, many startups are developing smart bins that can detect if people are recycling based on the waste they are disposing of. The environmentally-friendly concept of circular economies is also trending in several countries that promote a closed system where products are used, recycled, or reused and nothing remains as waste. So every product acts as a resource in the system that is either recycled or upcycled. Besides, recyclable packaging materials are gradually becoming more popular with increased demand for e-commerce products and online food deliveries. Interestingly, there have been few efforts in managing the extensive usage of protective equipment amidst the pandemic. One of such attempts put forward was a unique face-mask design that comprises seeds in its material. This can be planted after use turning the masks into compostable material.
As many such trends continue disrupting the waste management space, major organizations are investing in solutions to meet the new requirements. In this backdrop, we bring to light the latest edition of Utilities Tech Outlook to guide companies in search of the right solution partners. The magazine also compiles insights from industry experts, CIOs, and CXOs on the current trends, technological improvements, and innovations in this space.
We present to you Utilities Tech Outlook's "Top 10 Waste Management Solution Providers in Europe - 2021."