Smart Waste Management Market

Market Overview:

The global smart waste management market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.3 Billion by 2028, exhibiting a growth rate (CAGR) of 13.9% during 2023-2028.

Smart waste management involves the utilization of internet of things (IoT) enabled smart waste sensors to optimize waste collection, reduce the number of overflowing bins, and manage resources in cities. It relies on cellular network technologies that offer power-efficiency to leverage existing networks. It is an essential part of smart city ecosystem, which reduces unnecessary expenses due to operational inefficiencies in trash collection processes. It helps detect location, temperature, and fill level in real time to plan optimal collection routes that save fuel and manpower. As a result, it finds applications in the residential, commercial, and industrial sectors around the world.

Smart Waste Management Market Trends:

A rise in the development of smart cities, along with the growing difficulty in waste collection, processing, and management, represents one of the key factors driving the market. Moreover, the increasing awareness among individuals about the benefits of smart waste management, such as intelligent monitoring, route optimization, and analytics, is propelling the growth of the market. In addition, there is an increase in the utilization of sensor technologies across the globe. This, coupled with the growing initiatives by governments and local authorities of several countries towards sustainable waste disposal is positively influencing the market. Besides this, as smart waste management helps reduce accidents while collecting trashes, such as being injured by glass, contaminated needles, and medical wastes, its demand is rising globally. In line with this, the increasing focus of organizations on worker safety on account of stringent regulatory bodies is offering lucrative growth opportunities to industry investors. Other growth-inducing factors are rapid industrialization and urbanization and the rising need for recycling and reprocessing waste efficiently.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global smart waste management market report, along with forecasts at the global, regional and country level from 2023-2028. 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
     

Breakup by Waste Type:

• Solid
• Special
• E-Waste
   

Breakup by Method:

• Smart Collection
• Smart Processing
• Smart Disposal
• Smart Energy Recovery
   

Breakup by Source:

• Residential 
• Commercial 
• Industrial
   

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

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage:

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?
• 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?