15-Nov-2022 | Zion Market Research
The global waste management software market size was worth around USD 9,350 million in 2021 and is predicted to grow to around USD 16,000 million by 2028 with a compound annual growth rate (CAGR) of roughly 8% between 2022 and 2028.
Waste management is any strategy adopted by businesses to help them reduce, dispose of, prevent, or reuse waste. Some of the disposal methods include landfills, composting, recycling, bioremediation, waste minimization, waste to energy, and incineration. Any operational activity is bound to generate some amount of waste in different forms depending on the industry the waste belongs to. Hence there have to be correct and accurate waste management systems in place to avoid incorrect disposal and to improve any chances of waste minimization or reusability.
Waste management software help companies in all possible ways including bill or invoice calculation and generation, service management, and logistics which deals with tracking the managing the routines at which waste transportation occurs. These systems are equipped with technology to help them store the waste until it is transported, schedule transportation time, pre-plan the disposal process and figure out strategies to recycle or reuse as much waste as possible. Software in waste management allows employees to perform their tasks and responsibilities with absolute accuracy and without any glitches. Customer communication can also be performed using waste management applications.
There are various factors that help software quality as an important tool in the waste management category. For instance, it should allow the management of contracts and pricing, create accurate workflows, and schedule transit, collection, treatment, and waste disposal.
The global waste management software market is projected to grow owing to the rising adoption of the technology by various municipal corporations and government bodies to track and manage regional waste. Governments allocate high budgets to regulatory bodies to help them use all kinds of available resources to manage waste.
With growing awareness and options, many bodies have started allocating some funds to digitize waste management and can be witnessed slowly and steadily moving from a manual waste management system to a more technology-oriented system. The Australian government recently established a program worth USD 2 million that will be allocated to develop smart ways of energy and waste management. By 2023, the overall waste management industry is expected to receive funding of over USD 42 billion, as claimed by Forbes.
There has been growing pressure from international agencies as well on some of the largest corporations since their actions and negligence have already caused an irreversible impact on the environment. For instance, in 2019, Boeing was considered the largest polluter. Due to the growing insistence of these bodies, companies have amped up their efforts in a bid to control the impact of their businesses on the ecosystem.
However, the global market is expected to lose revenue owing to rampant ignorance amongst many businesses, large-sized as well as medium and small-sized. Many businesses fail to acknowledge that they do not follow proper waste management systems and since they may go unnoticed, they fail to follow the protocols. Organizations with such result in lower revenue.
Withholding companies responsible for their actions is expected to provide growth opportunities while less awareness may challenge the addition of new players.
The global waste management software market is segmented based on deployment type, software type, application, technology, and region
Based on software type, the global market is divided into waste tracking software, waste hauling software, scale software, route management software, maintenance software, recycling software, and others. Tracking software led the segmental growth followed by recycling software. In this feature, the software calculates the amount of carbon footprint the company is responsible for and also the emission rate of greenhouse gasses.
Most companies also offer customization and advanced models can provide users of their service with detailed analytics pointing out steps that can be taken to reduce the numbers. Smart systems have become truly popular because minimum human intervention is required and the software provides a comprehensive analysis that the human mind would not be able to deliver. More than 800 million metric tons of greenhouse gases were released in 2021.
Based on technology, the global market segments are real-time location systems, Bluetooth, Wi-Fi, radio frequency identification, and others with Wi-Fi leading the global market followed by Bluetooth. Wi-fi has managed to change the world and its global market value currently stands at 11.35 billion. Wi-Fi systems provide dual benefits because they can also provide real-time analysis while being shared over servers.
North America generated the highest revenue in the global waste management software market in 2021 and is expected to lead during the forecast period owing to higher product penetration further propelled by the growing acceptance and awareness about becoming environmentally responsible. Asia-Pacific is expected to become a lucrative market due to growing investments by government agencies to upgrade infrastructure as well as increasing steps undertaken by governing bodies to control and manage waste which is increasing drastically due to the rampant industrialization and growing population.
The global waste management software market is led by players like TRUX, SoftExpert Software, Intelex Technologies, Enablon, Carolina Software Inc., Enviance Inc., Geoware Inc., and others.
This review is based on a report by Zion Market Research, titled “Waste Management Software Market By Deployment Type (On-Premise, and Cloud), By Software Type (Waste Tracking Software, Waste Hauling Software, Scale Software, Route Management Software, Maintenance Software, Recycling Software, and Others), By Application (Healthcare, Consumer Goods, Retail, Municipal Corporations, Manufacturing, and Others), By Technology (Real-Time Locating Systems, Bluetooth, Wi-Fi, Radio Frequency Identification, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.”- Report at https://www.zionmarketresearch.com/report/waste-management-software-market
The global waste management software market is segmented as follows:
By Deployment Type
By Software Type
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