Smart Waste Management Market By Waste Type (Solid Waste, Special Waste, E-Waste), By Method (Smart Collection, Smart Processing, Smart Disposal), By Source (Residential, Commercial, Industrial): Global Opportunity Analysis and Industry Forecast, 2024-2032
The global smart waste management market was valued at $2.2 billion in 2023, and is projected to reach $8.3 billion by 2032, growing at a CAGR of 15.6% from 2024 to 2032.Smart waste management is the concept that uses sensors in waste to track live status of city waste collection services when bins are ready to be emptied, or filled. It also monitors historical data collected by sensors and databases, which can be used to identify and optimize driver routes, fill patterns, reduce operational costs, and schedules. Remote monitoring and IoT based waste bins are more feasible to collect waste effectively. It also reduces routing and fuel prices.
Smart waste management includes all types of waste including solid, special, or e-waste. Industrial waste refers to waste generated in industries during production and manufacturing processes. Healthcare waste refers to waste generated in pharmaceutical, medical, chemical, and paint manufacturing industries. Further, major activities performed on waste are its smart collection, smart energy recovery & smart disposal, and smart processing. Smart collection services refer to collection & transportation, storage & handling, and sorting of waste by using IoT based sensors and EcoATM. Whereas, remote monitoring and data analytics concepts used to handle disposal services refer to segregation of waste into landfills, recycling, composting, and anaerobic digestion.
The smart waste management industry is majorly driven by growth in urbanization and rapid industrialization. This has eventually led to increase in volume of waste from municipal as well as industrial sector. In addition, rise in environmental awareness has led to increase in planned collection and disposal of waste. Moreover, increase in smart city initiatives in developed countries is anticipated to drive growth of the global smart waste management market.
However, lack of efficient connectivity and high initial cost required are projected to hamper growth of the global smart waste management market. On the contrary, owing to technological advancements and rise in adoption by developing countries are expected to provide lucrative opportunities for the smart waste management market during the forecast period.
The global smart waste management market is segmented on the basis of waste type, method, source, and region. By waste type, it is divided into solid waste, special waste, and e-waste. On the basis of method, the market is divided into smart collection, smart processing, and smart energy recovery & smart disposal. On the basis of source, it is segmented into residential, commercial, and industrial. Region wise, the market is divided into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Competition AnalysisThe key players profiled in the global smart waste management market report include Covanta Holding Corporation, SUEZ Environmental Services, Republic Services Inc., Waste Management Inc., Sensoneo J.S.A., Bigbelly Inc., Urbiotica, Ecube Labs Co Ltd., and Enevo Oy.
Many competitors in the smart waste management market adopted agreement, partnership, and acquisition as their key developmental strategies to expand their service portfolio. For instance, in August 2020, Republic Services Inc. signed a partnership with Aria Energy based in the U.S., which is a renewable energy management company. The partnership aimed to purify biogas from landfills to RNG (renewable natural gas).
Key Benefits For StakeholdersThe report provides an extensive analysis of the current and emerging global smart waste management market trends and dynamics.
In-depth analysis of the market is conducted by smart waste management market estimations for
key market segments between 2023 and 2032.Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive smart waste management market opportunity analysis of all the countries is also provided in the report.
The global smart waste management market forecast analysis from 2023 to 2032 is included in the report.
The key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the industry.
Key Market SegmentsBy Waste TypeSolid Waste
Special Waste
E-Waste
By MethodSmart Collection
Smart Processing
Smart Disposal
By SourceResidential
Commercial
Industrial
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Nigeria
Rest Of Mea
Key Market Players
Republic Services Inc.
Veolia Environnement S.A.
Urbiotica, S.L.
Ecube Labs Co Ltd
Waste Management Inc.
SUEZ Environmental Services.
Enevo Oy
Covanta Holding Corporation
Bigbelly, Inc.
Sensoneo j. s. a.