Proving the Business Case for the Internet of Things

Smart waste technologies to generate $6.5 billion in 2023: Navigant

Iain Morris
July 2, 2014
 
So-called smart waste technologies designed to improve the collection of municipal solid waste are expected to generate $6.5 billion in revenue by 2023, according to a new study from Navigant Research.

Emerging technologies are giving municipalities the opportunity to realize major efficiency and productivity gains when it comes to collecting waste and improving the environmental performance of landfills, says Navigant.

In a new study, the company predicts that revenue from smart waste technology will rise from $2.3 billion annually in 2014 to around $6.5 billion in 2023.

“While the total volume of waste generated globally is expected to grow by nearly 50% over the next ten years, the adoption of innovative technologies will result in more integrated waste management offerings that move beyond the traditional use of labor, diesel trucks and conventional landfills,” says Mackinnon Lawrence, research director with Navigant Research.

“This dynamic evolution in an otherwise stable industry offers a wealth of opportunities for both existing waste hauler stakeholders and new waste-management industry market entrants,” added Lawrence.

City authorities are particularly keen to use smart waste technologies to reduce operational costs, according to the research.

A number of technologies in this area are gathering traction, says Navigant, including systems for smart collection (using radio frequency identification tagging and global positioning system routing), smart processing (at advanced recovery facilities that use mechanical biological treatments and refuse-derived fuel production systems) and energy recovery (including waste-to-energy, waste-to-fuels and landfill gas-to-energy technologies).
 
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