Smart Waste Management Market

Global Smart Waste Management Market Size, Share & Trends Analysis Report By Source (Residential, Industrial, and Commercial), By Method, By Waste Type (Solid Waste, E-Waste, and Special Waste), By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-23283 Publication Date: June-2024 Number of Pages: 201
2023
USD 2.1 Billion
2031
USD 6.5 Billion
CAGR
15.3%
Historical Data
2020 to 2022

Market Report Description

The Global Smart Waste Management Market size is expected to reach $6.5 billion by 2031, rising at a market growth of 15.3% CAGR during the forecast period.

Europe's strong focus on sustainability initiatives and the circular economy has driven the adoption of advanced waste management technologies. Consequently, the Europe region would acquire nearly 33% of the total market share by 2031. Integrating IoT sensors, automated sorting machines, and data analytics platforms has enhanced operational efficiency and environmental impact.

Smart Waste Management Market Size - Global Opportunities and Trends Analysis Report 2020-2031

As more people migrate to urban areas, the volume of waste generated increases exponentially. The United Nations predicts that by 2050, 68% of the global population will reside in urban areas, a significant increase from the 55% who did so in 2018. Moreover, the economic implications of urban waste management are profound. The World Bank reports that the cost of managing solid waste is projected to rise from $205 billion per year in 2010 to about $375 billion by 2025, with the most significant cost increases occurring in low- and middle-income countries. Hence, these factors will aid in the expansion of the market.

Additionally, it is becoming increasingly common for governments all over the world to establish rigorous rules in order to mitigate the negative impact that pollution has on both human health and the environment. Moreover, policies like the Extended Producer Responsibility (EPR) are gaining traction globally. EPR policies hold manufacturers accountable for the end-of-life management of their products, incentivizing them to design more sustainable products and invest in recycling infrastructure. Thus, implementing stricter environmental regulations and policies is critical for adopting these waste management technologies.

However, Adopting waste management systems requires significant capital investment in sophisticated equipment and infrastructure. Furthermore, the costs of integrating new systems with existing infrastructure can be prohibitive, limiting the adoption of waste management solutions. Hence, this financial barrier slows the overall market growth.

Driving and Restraining Factors
Smart Waste Management Market
  • Rapid urbanization and increasing population densities
  • Stricter environmental regulations and policies
  • Offerings of substantial cost-saving opportunities
  • High initial costs of smart waste management
  • Substantial data privacy and security concerns
  • Increasing number of government initiatives and funding
  • Innovations in IoT, AI, and data analytics
  • Infrastructure limitations particularly in developing regions
  • Resistance to change among end users

Source Outlook

By source, the market is divided into residential, commercial, and industrial. The industrial segment garnered 28.1% revenue share in the market in 2023. Adopting advanced waste processing technologies, such as automated sorting systems and waste-to-energy solutions, has enhanced the efficiency and effectiveness of industrial waste management.

Method Outlook

On the basis of the method, the market is classified into smart collection, smart processing, and smart disposal. The smart disposal segment recorded 19.4% revenue share in the market in 2023. IoT sensors and data analytics have enabled real-time monitoring of landfill conditions, ensuring compliance with environmental regulations and minimizing environmental impact.

Smart Waste Management Market Share and Industry Analysis Report 2023

Waste Type Outlook

Based on waste type, the market is characterized into solid waste, special waste, and e-waste. The e-waste segment procured a 30.4% revenue share in the market in 2023. E-waste generation has experienced a substantial increase as a result of the continued consumption of electronic devices and the rapid tempo of technological advancement. High-quality plastics, rare earth elements, and precious metals are among the valuable materials found in e-waste.

Free Valuable Insights: Global Smart Waste Management Market size to reach USD 6.5 Billion by 2031

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment procured 36% revenue share in the market in 2023. This growth is driven by the region's technological advancements, with widespread adoption of IoT, AI, and data analytics to optimize waste collection, processing, and disposal.

Smart Waste Management Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 2.1 Billion
Market size forecast in 2031 USD 6.5 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 15.3% from 2024 to 2031
Number of Pages 201
Number of Tables 349
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Source, Method, Waste Type, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Sensoneo j.s.a., Reworld Waste, LLC, Redwave (BT-Wolfgang Binder GmbH), Suez S.A., Ecube Labs, Big Belly Solar, Inc.Waste Management, Inc., Republic Services, Inc. (Cascade Investment Group, Inc.) and Veolia Environnement S.A.
Need a report that reflects how COVID-19 has impacted this market and its growth? Download Free Sample Now

List of Key Companies Profiled

  • Sensoneo j.s.a.
  • Reworld Waste, LLC
  • Redwave (BT-Wolfgang Binder GmbH)
  • Suez S.A.
  • Ecube Labs
  • Big Belly Solar, Inc.
  • Waste Management, Inc.
  • Republic Services, Inc. (Cascade Investment Group, Inc.)
  • Veolia Environnement S.A.

Smart Waste Management Market Report Segmentation

By Source

  • Residential
  • Industrial
  • Commercial

By Method

  • Smart Collection
  • Smart Processing
  • Smart Disposal

By Waste Type

  • Solid Waste
  • E-Waste
  • Special Waste

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Frequently Asked Questions About This Report

The Market size is projected to reach USD 6.5 billion by 2031.

Rapid urbanization and increasing population densities are driving the Market in coming years, however, High initial costs of smart waste management restraints the growth of the Market.

Sensoneo j.s.a., Reworld Waste, LLC, Redwave (BT-Wolfgang Binder GmbH), Suez S.A., Ecube Labs, Big Belly Solar, Inc.Waste Management, Inc., Republic Services, Inc. (Cascade Investment Group, Inc.) and Veolia Environnement S.A.

The expected CAGR of this Market is 15.3% from 2023 to 2031.

The Smart Collection segment led the Market by Method in 2023; thereby, achieving a market value of $3.4 billion by 2031.

The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2.2 billion by 2031.

HAVE A QUESTION?

HAVE A QUESTION?

Call: +1(646) 600-5072

SPECIAL PRICING & DISCOUNTS


  • Buy Sections of This Report
  • Buy Country Level Reports
  • Request for Historical Data
  • Discounts Available for Start-Ups & Universities

Unique Offerings Unique Offerings


  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Support with 10% customization free after sale

Trusted by over
5000+ clients

Our team of dedicated experts can provide you with attractive expansion opportunities for your business.

Client Logo