Five digital transformation trends are creating new opportunities within the waste recycling industry:
¬∑ ¬† ¬† ¬† ¬†The use of waste data tracking includes RFID technology and fill sensors to detect fill levels and monitor all the materials generated, reused, and recycled;
¬∑ ¬† ¬† ¬† ¬†The development and adoption of digital solutions such as smart bins, smart trucks, robotic sorting, mobile applications, and analytical tools and optimization software;
¬∑ ¬† ¬† ¬† ¬†Implementation of key Innovative business models such as freemium and Everything-as-a-Service (XaaS);
¬∑ ¬† ¬† ¬† ¬†Focus on customer experience (CX) to build strong relationships between companies and end users; and
¬∑ ¬† ¬† ¬† ¬†Adoption of crowdsourcing and customization to boost demand for big data analytics and cloud computing.
“Ineffective collection, irregular waste pickups, and the effective sorting of waste streams are some of the significant challenges facing the market,” noted Ramachandran. “To mitigate these challenges, companies have implemented bin sensors/ RFID bins to monitor waste volume, thereby enhancing waste collection.”