Global Smart Waste Management Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Smart Waste Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global smart waste management market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
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 is a forward-thinking approach that melds cutting-edge technology and data analysis with the traditional waste management procedures. This system relies on the incorporation of sensors and Internet of Things (IoT) devices strategically placed within waste bins to constantly track parameters such as fill levels and temperature, sending this real-time information to a central control system. Additionally, it encompasses the use of radio frequency identification (RFID) tags, which serve to monitor and trace the movement of waste containers, guaranteeing proper handling and disposal. Beyond these advantages, smart waste management promotes recycling, curtails landfill usage, and minimizes carbon emissions associated with waste collection, thus mitigating its environmental footprint. Furthermore, it contributes to resource conservation by elevating recycling rates and reducing the demand for raw materials. This holistic approach also leads to cost savings, rendering it a more economically viable option for waste management companies and municipalities.
Global Smart Waste Management Market Trends and Drivers:
Currently, several pivotal factors are driving the surge in demand for smart waste management solutions. These technologies contribute significantly to cleaner and healthier living environments by mitigating the risks associated with disease transmission and pollution. Additionally, the escalating global waste generation necessitates more efficient waste management solutions, propelling market growth. Moreover, the increasing emphasis on environmental sustainability and the imperative to reduce ecological footprints have spurred governments and municipalities to embrace smart waste management systems. Advancements in sensor technology have also played a pivotal role in this trend, enabling the development of solutions capable of monitoring waste levels, optimizing collection routes, and reducing operational costs. Furthermore, the adoption of carbon pricing mechanisms and extended producer responsibility (EPR) initiatives serves as a driving force for companies to integrate smart waste management practices into their operations, effectively monitoring and minimizing their environmental impact. Notably, consumers are becoming increasingly environmentally conscious and now expect responsible waste disposal and recycling practices from companies. This demand has placed pressure on businesses to invest in smart waste management systems to align with these environmentally responsible expectations.
Global Smart Waste Management Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: 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.
The report segmented the market on the basis of region, 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
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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