The important factor fueling the growth of the waste management software market is growing importance of waste compliance for business. The waste management software market is growing due to the rising need for companies, industries as well as all other sectors to adhere to the waste compliance that is set by the government. Waste management software ensures and includes all the regulations and standards set for waste disposal. Thereby, these factors are increasing the growth and disposable income of the market globally. Additionally, waste management software provides cost control, regulatory compliances, simplicity as well as generality, easily scheduling the time to pick the waste from the source, monitoring of waste reduction effort, among others and hence it is increasingly being used by most of the individuals due to the advantages it provides and its easy-to-use functions. Therefore, individuals, businesses and other sectors are increasingly switching towards the waste management software due to the advantages it provides and the accuracy it gives to the user. Hence, these factors are expected to provide future opportunities for the market growth.
The global waste management software market is categorized on the basis of deployment type namely, cloud-based, and on-premise. Among the deployment types, cloud-based have the maximum share in the market. In cloud-based system, the computer system necessities are often lesser than systems on-premise, therefore no need to upgrade as often. Moreover, cloud systems are very much mobile-friendly and cheaper than systems on-premises. Thus, driving the cloud-based segment in waste management software market. Addition to this, waste management software market is also categorized based on end-use including residential, commercial, and industrial market. In this end-use segment, industrial has the largest share in the market. Rise in industrialization in developing economies has led to growth of chemical, automobile, healthcare, as well as oil & gas industries, which produces large amount of waste and also causes pollution. These factors are projected to remarkably contribute towards the growth of the industrial segment. Therefore, the industrial segment will show maximum growth rate during the forecast period.
On the basis of region, categorization of waste management software market includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America holds the largest share of waste management software market. Various nations in North America including the U.S., and Canada constitute the leading share of the waste management software market.. Rising environmental issues along with the continuing development of actual waste treatment technologies are pouring the North America waste management software market. Asia Pacific region is expected to see the fastest development during the forecast period from 2021 to 2028.
COVID-19 has affected all aspect of life internationally and hence maximum of the business have been stopped as well as hampered. During COVID-19 pandemic, waste management software market showed steady growth as large amount of waste was produced from healthcare sector and also the municipal waste increased from residential areas. Moreover, reopening of manufacturing facilities along with introduction of vaccines for COVID-19 are expected to lead to the growth of waste recycle business at their full-scale capacity during forecast period.
Some of the major players from the waste management software market include Carolina Software, Inc., Waste Logics Software Ltd, AMCS, Intelex Technologies ULC, Dakota Software Corporation, Enablon S.A., Webaspx Ltd., Soft-Pak Inc., Cority, and ISB Global among others. Various companies operating in the waste management software market are concentrating on adopting different strategies such as acquisition, in order to stay ahead of their competitors.
Recent News and Development:
- In May, 2021: Cority Acquired ESG Software Specialist WeSustain to support the intersection of ESG with digitization
- In February, 2020: Environmental Solutions Group (ESG) acquired SOFT-PAK waste fleet management software company
- In January, 2020: AMCS Acquired TRUX Route Management Systems Inc. further strengthens their leading position in the North American market
- In April, 2019: Carolina Software Inc. Welcomed FCC (Fomento de Construcciones y Contratas) to the WasteWORKS Family