Global Smart Waste Management Market Report and Forecast 2024-2032

Global Smart Waste Management Market Outlook

The global smart waste management market size attained a value of approximately USD 2.81 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 10.8%, reaching a value of around USD 7.11 billion by 2032.

Reducing costs of smart waste management systems and rising economic benefits they offer are positively influencing the smart waste management market. Various industries, residential complexes, and commercial establishments are investing in a variety of smart waste management techniques due to a growing concern for the environment and strict environmental laws by various governments.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Rapid industrialisation and increasing population are leading to a heightened generation of waste, and with growing focus on sustainability there is greater importance on adequate waste management. Smart waste management aids in monitoring the collection of waste, its transportation, and disposal, streamlining the entire process and reducing pile-ups on landfills. Increasing focus on recycling and reducing manual labour needs in waste management are anticipated to increase the demand for smart waste management in the forecast period.

Advent of AI Pushing the Market Growth of Smart Waste Management

The global market for smart waste management is being driven by the advent of advanced digital technologies like Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT). Artificial Intelligence is substantially contributing to the development of smart waste management systems providing profitable smart waste management market opportunities. Smart bins that are equipped with Internet of Things (IoT) technology aid in optimising garbage collection, while machine learning (ML) is further used to identify, categorise, and sort waste immediately after it is thrown away.

AI, ML, robotics, IoT, and other innovative technologies have allowed municipal authorities to minimise manual labour, cut costs, and maximise efficiency. Moreover, with rising concerns regarding sustainability, the process of waste management and recycling is becoming an utmost priority, thereby promoting the adoption of smart waste management and increasing the global smart waste management market demand.

Smart Waste Management Market Segmentation

Smart waste management refers to the usage of technology to improve waste management for more efficient, environmentally friendly, and cost-effective results. Depending upon the type of waste generated and the stage of waste management, the applicable systems and processes can vary.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

On the basis of waste type, the market is divided into:

• Solid Waste

• Special Waste

• E-Waste

Based on method, the market is segmented into:

• Smart Collection

• Smart Processing

• Smart Disposal

On the basis of source, the market is categorised into:

• Residential

• Commercial

• Industrial

The EMR report looks into the regional markets of smart waste management like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

Development of Smart Cities to Augment the Smart Waste Management Market Share

The development of smart cities is catalysing the growth of the global market for smart waste management. Smart cities are software-driven infrastructures in which day-to-day operations are computerised using technologies like AI and IoT. With rapid urbanisation and industrialisation, investments in infrastructural projects are contributing to the development of smart cities, bolstering the market for smart waste management. Smart bins, powered through IoT technology, are deployed to effectively differentiate between different kinds of wastes with the help of sensors.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Furthermore, improvements in technology and product design to incorporate features such as weight management and improved logistics, are expected to bolster the growth of smart waste management system market in the coming years. Moreover, robust investments into progressive technologies, smart infrastructures, and waste management systems are boosting the market growth.

Key Players in the Global Smart Waste Management Market

The report presents a detailed analysis of the following key players in the global smart waste management market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions:

• Covanta Holding Corporation

• Veolia Environnement S.A.

• Republic Services, Inc.

• Sensoneo j.s.a.

• BigBelly, Inc.

• SUEZ Smart Solutions 

• Evreka

• Ecube Labs Co Ltd

• Enevo, Inc.

• Others

The comprehensive report looks at the micro and macro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

Key Highlights of the Report