The most common and most likely answer to this crossword clue is the 7 letter word ARISING
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Buddy explains!

The straight part
We know that "Waking up" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case waking up = arising.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does ARISING mean?
ARISING verb- To come up from a lower to a higher position.
- To come up from one's bed or place of repose; to get up.
- To spring up; to come into action, being, or notice; to become operative, sensible, or visible; to begin to act a part; to present itself.
- The process by which something arises; origination; occurrence.