Digital Circular Economy Market by Offering (Services, Software), Technology (Al & ML, AR & VR, Big Data Analytics), Application, Vertical - Global Forecast 2024-2030

Digital Circular Economy Market by Offering (Services, Software), Technology (Al & ML, AR & VR, Big Data Analytics), Application, Vertical - Global Forecast 2024-2030

The Digital Circular Economy Market size was estimated at USD 2.85 billion in 2023 and expected to reach USD 3.52 billion in 2024, at a CAGR 23.66% to reach USD 12.63 billion by 2030.

Digital Circular Economy (DCE) refers to integrating innovative digital technologies within the traditional circular economy framework to maximize the lifecycle of resources and minimize ecological footprint. The DCE is widely used in waste management, agriculture, manufacturing, and energy systems for extending product life, sharing platforms, resource recovery, and implementing product-as-service systems. Growing focus on waste reduction and sustainability and demand for business models that deliver superior customer value while minimizing resource outflows are accelerating the deployment of DCEs across end-use industries. However, a lack of awareness about DCE and technological inaccessibility may hinder their adoption by the end-use sectors. Moreover, improved digital technologies for waste tracking and management, data analytics for predictive maintenance, and blockchain for supply chain transparency are anticipated to propel the use of digital circular economy solutions by the end-use sectors across the globe.

Regional Insights

The Digital Circular Economy market is evolving in the Americas owing to the growing interest in innovative ways of waste management and research focusing on generating value from waste, largely attributed to the technological advancements in machine learning. The Asia-Pacific region, comprising major economies including China, Japan, and India, has demonstrated robust progress in their conception and application of digital circular economy principles due to increasingly prioritizing eco-friendly purchases and several businesses specializing in waste management and recycling. The European Union has been at the forefront of circular economy implementation, with policies such as the EU Circular Economy Action Plan emphasizing sustainable processes throughout product life cycles. The Middle East region, though still nascent in circular economy principles, is gradually moving towards more sustainable models. Africa is witnessing a growing interest in sustainable practices, committed to becoming a zero-waste nation and driving more investments in the digital circular economy. Besides, ongoing research and development of innovative digital circular economy platforms are anticipated to propel their deployment across the end-use sectors globally.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Digital Circular Economy Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Growing emphasis on sustainability and environmental conservation
Increasing digitalization for efficient resource management
Stringent regulations on waste management and energy efficiency

Market Restraints

Technical complexities in digital circular economy

Market Opportunities

Introduction of innovative digital circular economy platforms
Strategic alliances to promote digitalization in the circular economy

Market Challenges

Data security and privacy concerns associated with the digital circular economy

Market Segmentation Analysis

Offering: Significant penetration of digital circular economy software
Technology: Proliferating use of AI & ML in digital circular economy solutions
Application: Widespread adoption for circular waste management and recycling
Vertical: Expanding applications of digital circular economy in consumer electronics

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Digital Circular Economy Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Digital Circular Economy Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

A Collaborative Effort by Schneider Electric and Digital Realty Accelerating Circular Economy in Data Centres

In a groundbreaking move toward sustainability in the digital infrastructure realm, Schneider Electric has joined forces with the foremost provider of carrier-neutral data center solutions, Digital Realty, to champion a circular economy initiative at the PAR6 data center in Paris. This initiative is poised to significantly extend the lifespan of critical operative systems by implementing re-use, recycling, and refurbishment programs specifically targeting Low Voltage (LV), Medium Voltage (MV) electrical equipment, switchgear, and three-phase uninterruptible power supplies (UPS).

CIWM's Revolutionary Digital Campaign on Circular Economy

CIWM released the Digital Circular Economy Pack to assist businesses in comprehending and implementing circular economy models through digital solutions. This comprehensive package offers guidance on leveraging digital technologies like AI, data analytics, and blockchain to establish sustainable business models. It also suggests effectively managing waste streams from the digital economy.

The Innovative SAP and Versuni Partnership Pioneers Sustainability and Circular Economy

SAP and Versuni announced a global partnership to drive the circular economy and promote the Environmental, Social, and Governance (ESG) agenda. The primary objective of this collaboration is to develop an intuitive and user-friendly platform that enables companies to effectively measure, report, and take action on their traditional, sustainability, and ESG performance. As part of this partnership, an extensive network of third-party data sources, intelligence, and technologies will be integrated into the platform, providing companies with valuable insights and resources.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Digital Circular Economy Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Digital Circular Economy Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Amazon Web Services, Inc., Anthesis Consulting Group, Capgemini Services SAS, Cisco Systems, Inc., CSCS Ltd., Dassault Systemes S.E., geoFluxus B.V., Hitachi Ltd., Honeywell International Inc., International Business Machines Corporation, iPoint-systems gmbh, KPMG International Limited, Landbell AG für Rückhol-Systeme, Lenzing AG, numi.circular, One Click LCA Ltd., Oracle Corporation, PricewaterhouseCoopers International Limited, QBE-ProSense GmbH, Ridgelinez Co., Ltd. by Fujitsu Limited, SAP SE, Siemens AG, Software AG, Suez Group, Treeni Sustainability Solutions, TÜV SÜD South Asia Pvt. Ltd., and UL LLC.

Market Segmentation & Coverage

This research report categorizes the Digital Circular Economy Market to forecast the revenues and analyze trends in each of the following sub-markets:

Offering
Services
Circular Economy Strategy Consulting Services
Product-as-a-Service
Recycling & Regulatory Compliance Services
Supply Chain Optimization Services
Sustainability & Environmental Consulting Services
Software
3D Printing Software
Blockchain & Traceability Software
Circular Design & Prototyping Software
Product Lifecycle Management (PLM) Software
Sharing & Machining Software
Supply Chain Management (SCM) Software
Technology
Al & ML
AR & VR
Big Data Analytics
Blockchain
Cloud Computing
IoT
Application
Circular Economy Reporting & Compliance
Circular Waste Management & Recycling
Digital Resale & Reuse
Resource Optimization & Efficiency
Reverse Logistics & Remanufacturing
Smart Material Selection & Testing
Supply Chain & Materials Tracking
Vertical
Automotive
Construction & Building
Consumer Electronics
Energy & Utilities
Healthcare & Medical Devices
IT & Telecom
Manufacturing
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year