According to the latest report by IMARC Group, the global smart waste management market reached a value of US$ 1.95 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4.63 Billion by 2027, exhibiting a CAGR of 14.40% during 2022-2027.
Smart waste management entails the usage of the internet of things (IoT) equipped with smart waste sensors to advance the process of waste collection, lessen the number of overflowing bins and manage resources in cities. It is a vital part of the smart city ecosystem, which diminishes dispensable expenses due to operational insufficiencies in the trash collection processes. It also aids in detecting temperature, location, and fill level in real-time to plan optimal collection routes that save fuel and manpower. As a result, it finds application in residential, industrial and commercial sectors across the globe.
Smart Waste Management Market Trends and Drivers:
The evolution of smart cities, and the complications in waste collection, processing, and management, represent the primary factors driving the market. Additionally, the rising awareness about the advantages of smart waste management, including optimization, intelligent monitoring and analytics, is positively influencing the market growth. Besides this, smart waste management assists in diminishing accidents during the collection of waste, such as injuries by the glass, contaminated needles, and medical wastes.
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This, along with several initiatives undertaken by governments and local authorities of various nations on smart waste management and the usage of sensor technologies worldwide, is also propelling the market growth. Apart from this, the emphasis of organizations on worker safety due to the rigid regulatory bodies, growing industrialization and urbanization, and the increasing need for reprocessing and recycling waste efficiently are some of the other factors that are creating a positive market outlook.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Smart Waste Management Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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 has segmented the market on the basis of region, component, waste type, method and source.
Breakup by Component:
- Fleet Management
- Remote Monitoring
- Data Analytics and Advanced Reporting
- Network Management
- Asset Management
- Professional Services
- Managed Services
Breakup by Waste Type:
Breakup by Method:
- Smart Collection
- Smart Processing
- Smart Disposal
- Smart Energy Recovery
Breakup by Source:
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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- 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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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