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Smart Waste Management Market Report by Component (Solution, Solution), Waste Type (Solid, Special, E-Waste), Method (Smart Collection, Smart Processing, Smart Disposal, Smart Energy Recovery), Source (Residential, Commercial, Industrial), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A5484
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Global Smart Waste Management Market:
The global smart waste management market size reached US$ 2.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.7 Billion by 2032, exhibiting a growth rate (CAGR) of 12.5% during 2024-2032. The growing urban population is raising the demand for more efficient waste collection and disposal systems, which is stimulating the market.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 2.6 Billion |
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Market Forecast in 2032
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US$ 7.7 Billion |
| Market Growth Rate 2024-2032 | 12.5% |
Smart Waste Management Market Analysis:
- Major Market Drivers: The rising awareness of environmental protection is encouraging the adoption of smarter technologies to manage and reduce waste, which is propelling the market.
- Key Market Trends: The increasing government regulations are pushing businesses to implement more sustainable waste management solutions, thereby acting as a significant growth-inducing factor.
- Competitive Landscape: Some of the major market companies include Bigbelly Inc., Bin-e, Ecube Labs Co. Ltd., Enevo (REEN AS), Evreka, GreenQ Ltd., Pepperl+Fuchs SE, RecycleSmart Solutions, Rubicon Technologies LLC, Sensoneo, Suez SA and Veolia Environnement S.A., among many others.
- Geographical Trends: Asia Pacific is experiencing rapid urbanization, driving smart waste management market growth. In addition, North America and Europe lead in adopting advanced waste technologies and Latin America is focusing on infrastructure improvements. Meanwhile, the Middle East and Africa are slowly integrating smart systems amid growing environmental awareness.
- Challenges and Opportunities: The high initial cost of implementing this system is hindering the market. However, government incentives and long-term cost savings will continue to strengthen the market over the forecast period.
Smart Waste Management Market Trends:
AI-Powered Waste Sorting Systems Adoption
The adoption of AI-powered waste sorting systems is transforming how waste is processed. Moreover, these systems enhance efficiency by automatically identifying and categorizing waste, reducing manual labor, and improving recycling rates. In addition, this technological advancement contributes to more effective waste management and resource recovery processes. For instance, in September 2024, Prairie Robotics introduced AI technology to Bay City, Michigan's recycling trucks through a six-month pilot project. This initiative aims to enhance recycling efficiency in the city, using AI to improve waste sorting and management, marking a significant advancement in smart waste management market share.
Increased Focus on Carbon Reduction
Smart waste management solutions are increasingly focused on minimizing carbon emissions by optimizing waste collection routes, reducing landfill waste, and promoting recycling. Furthermore, these efforts contribute to a more sustainable infrastructure that aims to significantly lower greenhouse gas emissions and address environmental concerns linked to waste disposal. For instance, in September 2024, Sharrp Ventures launched a major plastic recycling project in Hyderabad and Raipur, aiming to process 32,000 tonnes of waste annually. This initiative will reduce 15,000 tonnes of CO2 emissions, create 370 direct jobs, and promote AI-driven waste sorting, thereby elevating smart waste management market share.
Global Expansion of Smart Waste Programs
Smart waste management programs are being adopted across various regions, thereby enhancing waste-handling practices through technology-driven approaches. In contrast, these programs optimize waste collection, promote sustainability, and offer scalable solutions tailored to different waste management challenges, enabling communities and cities to improve efficiency and reduce environmental impacts globally. For instance, in May 2024, Bigbelly launched its Smart Compost Program, expanding globally after a successful U.S. debut. The program uses secure, smart bins and a mobile app, reducing operational costs by 50%, improving community waste collection, and supporting sustainability efforts by addressing food waste management.
Global Smart Waste Management Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with the market forecast at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on component, waste type, method, and source.
Breakup by Component:
- Solution
- Fleet Management
- Remote Monitoring
- Data Analytics and Advanced Reporting
- Network Management
- Asset Management
- Services
- Professional Services
- Managed Services
The report has provided a detailed breakup and analysis of the market based on the component. This includes solution (fleet management, remote monitoring, data analytics and advanced reporting, network management, and asset management) and services (professional services and managed services).
Smart waste management solutions and services leverage technology to optimize waste collection, monitoring, and disposal. Furthermore, these systems improve efficiency, reduce costs, and promote sustainability by using sensors, data analytics, and automation for better waste management practices.
Breakup by Waste Type:
- Solid
- Special
- E-Waste
The report has provided a detailed breakup and analysis of the market based on the waste type. This includes solid, special, and e-waste.
Smart waste management efficiently handles solid, special, and e-waste by utilizing technology for real-time tracking, sorting, and disposal. On the contrary, this reduces environmental impact, enhances recycling efforts, and improves overall waste collection and processing efficiency.
Breakup by Method:
- Smart Collection
- Smart Processing
- Smart Disposal
- Smart Energy Recovery
The report has provided a detailed breakup and analysis of the market based on the method. This includes smart collection, smart processing, smart disposal, and smart energy recovery.
Smart waste management integrates smart collection, smart processing, smart disposal, and smart energy recovery to optimize efficiency. In contrast, advanced technologies streamline waste collection, enhance processing methods, ensure eco-friendly disposal, and recover energy, thereby promoting sustainability and reducing environmental impact.
Breakup by Source:
- Residential
- Commercial
- Industrial
The report has provided a detailed breakup and analysis of the market based on the source. This includes residential, commercial, and industrial.
Smart waste management benefits residential, commercial, and industrial sectors by improving waste collection efficiency, reducing operational costs, and promoting sustainability. Also, advanced technologies like IoT-enabled sensors optimize waste disposal processes, ensuring timely collection and minimizing environmental impact across these sectors. This is elevating smart waste management market share.
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The market outlook report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
The smart waste management market size is experiencing growth across regions. In Asia-Pacific, smart waste management is gaining traction with increasing urbanization and the adoption of IoT-based waste solutions. In addition, Europe sustainability initiatives are driving the implementation of automated waste collection and recycling technologies. In North America, municipalities are focusing on smart bins and data analytics to optimize waste management. Meanwhile, Latin American smart waste systems are being explored to improve efficiency in urban areas, and in the Middle East and Africa, smart waste solutions are emerging to address environmental and waste disposal challenges.
Competitive Landscape:
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all market companies have also been provided. Some of the key players in the market include:
- Bigbelly Inc.
- Bin-e
- Ecube Labs Co. Ltd.
- Enevo (REEN AS)
- Evreka
- GreenQ Ltd.
- Pepperl+Fuchs SE
- RecycleSmart Solutions
- Rubicon Technologies LLC
- Sensoneo
- Suez SA
- Veolia Environnement S.A.
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Smart Waste Management Market Recent Developments:
- September 2024: Sharrp Ventures launched a major plastic recycling project in Hyderabad and Raipur, aiming to process 32,000 tonnes of waste annually. This initiative will reduce 15,000 tonnes of CO2 emissions, create 370 direct jobs, and promote AI-driven waste sorting.
- September 2024: Prairie Robotics introduced AI technology to Bay City, Michigan's recycling trucks through a six-month pilot project. This initiative aims to enhance recycling efficiency in the city, using AI to improve waste sorting and management.
- May 2024: Bigbelly launched its Smart Compost Program, expanding globally after a successful U.S. debut. The program uses secure, smart bins and a mobile app, reducing operational costs by 50%, improving community waste collection, and supporting global sustainability efforts.
Smart Waste Management Market Report Scope:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
| Components Covered |
|
| Waste Types Covered | Solid, Special, E-Waste |
| Methods Covered | Smart Collection, Smart Processing, Smart Disposal, Smart Energy Recovery |
| Sources Covered | Residential, Commercial, Industrial |
| Regions Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Bigbelly Inc., Bin-e, Ecube Labs Co. Ltd., Enevo (REEN AS), Evreka, GreenQ Ltd., Pepperl+Fuchs SE, RecycleSmart Solutions, Rubicon Technologies LLC, Sensoneo, Suez SA, Veolia Environnement S.A., etc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report
- How has the global smart waste management market performed so far, and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global smart waste management market growth?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the waste type?
- What is the breakup of the market based on the method?
- What is the breakup of the market based on the source?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global smart waste management market, and who are the key players?
- What is the degree of competition in the industry?
Key Benefits for Stakeholders:
- IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the smart waste management market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the global smart waste management market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the smart waste management industry and its attractiveness.
- The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.
Need more help?
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- For further assistance, please connect with our analysts.
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