Recovery
U.S. municipal solid waste management market to accumulate hefty proceeds from paper & paperboard trash, New York to emerge as a lucrative growth avenue
The remuneration graph of U.S. municipal solid waste management market has witnessed a phenomenal escalation in the past decade, owing to myriad economic & environmental advantages of effective waste management. The burgeoning challenges of solid waste due to tremendous surge in the population in the United States have further compelled the industry players to bring forth innovative, sustainable, and cost-effective approaches of MSW across the country. It has been reported that in general, the waste generation is higher during the strong economic growth of the country and therefore effective solid waste management network forms a significant factor driving the GDP.
Pennsylvania Municipal Solid Waste Management Market Size, By Service, 2017 & 2024 (Million Tons)
Reliable reports claim that the United States produced more than 250 million tons of municipal solid waste in 2014 – a significant high and approximately 4.4 million more than generated in the year earlier. It was further reported that the around 66.4 million tons of waste was recovered for recycling in 2014. Despite the tons of waste to handle, it was not until recently that the sanitation agencies took upon themselves to handle recycling and monitor third-party contractors. The U.S. Environmental Protection Agency in this regard has been encouraging the regional regulators and governmental agencies to make efforts in assisting the upcoming solid waste management scenarios, to ensure proper storage, disposal, segregation, and recycling processes.
Recently for instance, Atlanta regulation agencies has deployed smart phones with waste management application in over 89 sanitation trucks & other vehicles as part of a MSW management pilot program. The use of the application to track truck routes lead them to evenly distribute and take efficient routes to the appropriate landfills and recycling facilities. With further governmental norms encouraging sustainable trash management, New York recycling & composting municipal solid waste management market is another lucrative region garnering hefty proceeds. Estimates claim the U.S. MSW management industry from New York to exceed a valuation over USD 450 million by 2024, owing to the influence of region’s rising population base residing in the urban areas and flourishing tourism industry leading to growing investment in waste management infrastructure.
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Further speaking of the expanding governmental investment in waste management, the U.S. President Donald Trump, recently signed a legislation committing the country to expand its efforts to clean and manage around 8 million metric tons of litter such as plastic, paper, and electronic waste polluting the oceans.
Currently, recycling & composting solid waste has gained immense traction, given the advancement in waste reprocessing and trash conversing technologies. Recycling the waste to convert it into reusable material is significantly helping MSW management agencies in reduced consumption of raw materials and energy usage as well as lowered water & air pollution. The process is further gaining momentum and managed to accumulate over USD 6 billion in 2017, because of the introduction of strict & rigorous anti-dumping laws by both the state & federal regulators and development of recycling approaches for sustainable economic status. For instance, the University of Minnesota has initiated a recycling drive under which it will be recycling more than 3,800 tons of recyclable materials that constitutes more than 40% of the total waste generated in the campus.
In addition to expanding recycling & composting services in the U.S. municipal solid waste management market, it is noteworthy to mention that the paper and paperboard trash accounted for a considerable 26% market share in 2017. Rapid progress of the packaging industry coupled with rising application of recycled paper and paperboard are expected to drive demand.
These above-mentioned trends significantly shed light on the progressive outlook of the U.S. municipal solid waste management market in the recent years. However, it wouldn’t be wrong to say that China’s ban on import waste has rocked the global solid waste management and recycling industry to gear up for managing their own waste and recycling efforts. It remains to be seen that how the U.S. municipal solid waste management industry will cope with the sudden change in policies as these new accumulating waste loads incur increasingly high rates in managing and recycling waste. Nonetheless, experts believe that as the export market for waste product dries up, the U.S. municipal solid waste management industry will be seen desperately recovering, recycling, and reducing the waste, while surpassing the overall remuneration portfolio of over USD 25 billion market by 2024.
Author Name : Ojaswita Kutepatil
Firewall as a Service (FWaaS) market landscape to be underlined by strategic tie-ups & collaborations, global industry to record an impressive CAGR of over 25% over 2017-2024.
The number of cyber-crimes across the globe is sky-rocketing – a factor that has provided a substantial push to FWaaS market, an integral vertical of the network security landscape. According to recent news reports, roughly 2 billion data records around the globe were stolen or lost by cyber-attacks in the first half of 2017. The increasing complexity and sophistication of these attacks further paint a grim picture of today’s network security landscape, in extension leading to Firewall as a Service (FWaaS) market emerging in rather a gigantic way. FWaaS industry is capitalizing on the back of ever-growing demand for network security and data protection. The maturation of Firewall as a Service (FWaaS) market can also be accredited to the increased utilization of the ever-expanding cloud computing and the regulatory guidelines being prescribed by the Governments around the world to protect critical data and information. Furthermore, the large enterprises are gradually realizing the significance of firewalls and are increasingly adopting the cloud-based firewalls to fortify their data. The prominent cloud firewall service providers and software vendors are collaborating to enhance the customized products and solutions to address the growing market-specific demand. As per a report compiled by Global Market Insight, Inc., Firewall as a Service market size is estimated to grow at a robust CAGR of over 25% from 2017 to 2024.
Firewall as a Service Market Size, By Application, 2016 & 2024 (USD Million)
Some of the remarkable benefits of cloud-based firewall services include simplified management, better internal threat protection, comprehensive protection services, reduced cost of training the staff, improved threat perception, and enhanced disaster recovery. The BFSI sector stands to contribute immensely toward firewall as a service industry growth, as the most ferocious cyber-attacks are directed towards financial institutions. The BFSI application, as per the estimates, is contemplating a resilient and sturdy growth of over 22% CAGR from 2017 to 2024. The Governments across the globe are willingly joining hands with the firewall service providers to contain the burden of cyber thefts on the national exchequer, which is carving a profitable roadmap for the Firewall as a Service (FWaaS) market to reap huge benefits in the near future.
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The recent trend of the increasing collaboration of firewall service providers and pure software vendors is seen to be growing. These proactive and dynamic prospects are vividly underlining the competitive and strategic landscape of firewall as a service industry. To cite an instance, Tata Consultancy Services, a dominant Indian IT service provider, has recently teamed up with US-based security firm Palo Alto Networks to assist enterprises to reliably transfer applications and data to the public cloud infrastructure. The Global Security Operations Centres of TCS will be leveraged to keep a tab on the sophisticated and complex cyber-threats and ward off malicious cyber-attacks trying to inflict organizations. Furthermore, Firewall as a Service (FWaaS) market is striving to be a combative market as the leading players are continuing their efforts to integrate with cloud companies to cater to a wider range of customers.
As enterprises are willing to invest in upgrading and refining the cloud security and automation of firewalls, the firewall management software market will obtain a much-required boost. If the recent news reports are to be believed, the hackers are making a concerted effort to reverse-engineer devices and apps. A simple misconfiguration would expose a serious vulnerability in the network of any enterprise. The loopholes include downtime, irregular optimization of firewalls, and infringement of policy guidelines. In response, the firewall management softwares like the Next Generation Firewall (NGFW) is set to make a rather pronounced impact in the firewall as a service market, courtesy its multifunctional security potential.
Speaking of the regional distribution of firewall as a Service market, North America has the largest market size and is presumed to grow at a higher rate owing to its network security infrastructure, heightened awareness and the speedy adoption of latest cutting-edge cybersecurity technology. The Asia Pacific FWaaS market, which has the highest number of SME’s, is expected to thrive in the coming few years as the increased awareness, security infrastructure and technology adoption acquire significance. In terms of global commercialization potential, Global Market Insights, Inc. estimates the firewall as a service industry to hit a revenue of USD 2.5 billion by 2024.
Author Name : Saif Ali Bepari
Global Market Insights Inc. 