Artificial Intelligence
Construction and Demolition Waste Management Market to Hit USD 142.92 Billion by 2028: Increasing Focus on Waste Recycling Activities to Augment Market Growth: Fortune Business Insights™
Pune, India, July 22, 2021 (GLOBE NEWSWIRE) — The global construction and demolition waste management market size is expected to gain momentum by reaching USD 142.92 billion by 2028 while exhibiting a CAGR of 4.0% between 2021 to 2028. In its report titled “, Construction and Demolition Waste Management Market, 2021-2028,” Fortune Business Insights mentions that the market stood at USD 115.11 billion in 2020.
The increasing demand for integrated technology and IoT-based devices in the construction industry has seen a staggering demand. Artificial intelligence (AI) helps the construction industry by scheduling and risk mitigation, such as worker injury prevention and predictive equipment maintenance. Additionally, it helps in reducing waste and providing high-value materials. For instance, Switzerland-based company the Eberhard Group decided to invest in AI-based intelligent robots, which will help recover mixed construction waste at a rate of 200 tons per hour. Therefore, these advancements in the industry are expected to drive the market.
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COVID-19 Impact
The COVID-19 pandemic has caused a substantial economic downturn and a sense of uncertainty in the market. The stringent lockdown imposed worldwide acted as a major downturn for various industries, including the construction and development industry. The reduction in construction activities led to a drop in cash liquidity, thereby obstructing construction activities. For instance, the International Labor Organization report suggested that the unavailability of the working force at construction sites in the Indian construction market has obstructed the pace of construction activities in the country, thus hampering the market growth.
List of Key Market Players Profiled in Global Market
- Veolia Environment S.A. (Aubervilliers, France)
- Waste Connections (Texas, the U.S.)
- Clean Harbors, Inc. (Massachusetts, the U.S.)
- Remondis (Lünen, Germany)
- Republic Services (Arizona, the U.S.)
- FCC Environment Limited (Northampton, United Kingdom)
- Waste Management (Texas, the U.S.)
- Kiverco (Tyrone, Northern Ireland)
- Daiseki Co., Ltd. (Aichi, Japan)
- Windsor Waste (Brentwood, United Kingdom)
- Casella Waste Systems, Inc. (Vermont, the U.S.)
- Renewi plc (Milton Keynes, United Kingdom)
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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Report Scope & Segmentation
Report Coverage | Details |
Forecast Period | 2021 to 2028 |
Forecast Period 2021 to 2028 CAGR | 4 % |
2028 Value Projection | USD 142.92Billion |
Base Year | 2020 |
Market Size in 2020 | USD 115.11 Billion |
Historical Data for | 2017 to 2019 |
No. of Pages | 120 |
Segments covered | Material,Source,Service,Geography |
Growth Drivers | Environmental Benefits and Development of Circular Economy to Promote Growth |
Hefty Investments by Governmental Authorities to Propel Market Growth | |
Integration of AI-Powered Robots at Recycling Plants to Elevate Quality and Speed of Recycling Activities | |
Pitfalls & Challenges | Limited Capability to Recover and Recycle Construction and Demolition Waste |
Market Segmentation:
By material type, the market is divided into concrete & gravel, bricks and ceramics, asphalt and tar, timber and wood, metal, and others. On the basis of source, the market is segmented into demolition, construction, and renovation
- Based on the source, the renovation segment held a global construction and demolition waste management market share of 17.3% in 2020. This is attributable to low cost, as renovation allows waste recycling over time.
By service, the market is bifurcated into disposal and collection. Finally, based on region, the market is categorized into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
What does the Report Provide?
The market report provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the market’s growth. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships and collaboration that will further contribute to the market growth.
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Driving Factors
Development of Circular Economy is Expected to Fuel Market Growth
The increasing effort of environmental organizations to promote the circular economy, i.e., collect, recycle, and reuse in new infrastructure and construction activities, drive the construction and demolition waste management market growth. For instance, the European Commission has emphasized the re-use of demolished materials during construction, excluding hazardous materials. Such environment-friendly endeavors will bolster the global market growth during the forecast period.
On the flip side, many countries do not have to recycle centers to segregate demolished waste. Thus lack of recycling and regular filling of landfills are major restraints of the market.
Regional Insights
Asia Pacific to Remain at Forefront; Increasing Adoption of Recyclable Material in Construction Sector to Aid Growth
Asia Pacific is expected to hold the largest market share during the forecast period. This is ascribable to the factors such as extensive emphasis of the government on infrastructural development in developing economies such as India and China. For instance, the Indian Ministry of Housing and Urban Affairs (MoHUA) is focusing on developing the construction sector in India through supportive policies. Moreover, the waste generated in the country is enough to provide raw material to recycling centers, thereby contributing to green buildings and eco-friendly construction. The region stood at USD 20.52 billion in 2020.
North America is expected to experience significant growth in this market during the forecast period. This is attributable to the hefty investments made by key market players to establish and operate new recycling construction projects in the region.
Competitive Landscape
Key Players to Focus on Partnerships to Strengthen Their Market Positions
The market for construction and demolition waste management is consolidated by major companies striving to maintain their position by focusing on partnerships and new application launches. For instance, in November 2019, Rotochopper Inc. started a strategic partnership with Austria-based Lindner Recycling, Inc. This partnership was to help the company increase its reach among the customers through sales representation and service support for its products across various regions of the globe. Moreover, other key players adopt proactive strategies such as facility expansion, mergers, and collaborations to favor market growth.
Industry Development
- January 2020: Krause Manufacturing is working on an AI-powered robotic waste sorting system. This will help in segregating various debris automatically. Later this debris can be sent to recycling facilities for further use.
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Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation.
Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
Visit ViCA.Chat to experience the future of compliance support.
Contact:
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About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
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Artificial Intelligence
LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
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Artificial Intelligence
Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup
HONG KONG, June 14, 2024 /PRNewswire/ — Football fans are in for a treat as they gear up for UEFA EURO 2024™ with Toshiba TV’s top-performing Gaming TV Z670. As the OFFICIAL TV OF UEFA EURO 2024™, Toshiba TVs present immersive viewing of the football game by their AI-powered TV lineup. To celebrate the brilliant moments it can bring, Toshiba TV are gifting USD100 Amazon Gift Card via their social platform! By simply like, follow and comment on @ToshibaTVGlobal, fans can boost their chances of scoring this prize.
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