Smart Waste Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Smart Waste Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

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 involves the utilization of internet of things (IoT) enabled smart waste sensors to optimize waste collection, reduce the number of overflowing bins, and manage resources in cities. It relies on cellular network technologies that offer power-efficiency to leverage existing networks. It is an essential part of smart city ecosystem, which reduces unnecessary expenses due to operational inefficiencies in trash collection processes. It helps detect location, temperature, and fill level in real time to plan optimal collection routes that save fuel and manpower. As a result, it finds applications in the residential, commercial, and industrial sectors around the world.



Smart Waste Management Market Trends:
A rise in the development of smart cities, along with the growing difficulty in waste collection, processing, and management, represents one of the key factors driving the market. Moreover, the increasing awareness among individuals about the benefits of smart waste management, such as intelligent monitoring, route optimization, and analytics, is propelling the growth of the market. In addition, there is an increase in the utilization of sensor technologies across the globe. This, coupled with the growing initiatives by governments and local authorities of several countries towards sustainable waste disposal is positively influencing the market. Besides this, as smart waste management helps reduce accidents while collecting trashes, such as being injured by glass, contaminated needles, and medical wastes, its demand is rising globally. In line with this, the increasing focus of organizations on worker safety on account of stringent regulatory bodies is offering lucrative growth opportunities to industry investors. Other growth-inducing factors are rapid industrialization and urbanization and the rising need for recycling and reprocessing waste efficiently.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart waste management market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, waste type, method and source.

Breakup by Component:

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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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report:
How has the global smart waste management market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global smart waste management market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the waste type?
What is the breakup of the market based on the method?
What is the breakup of the market based on the source?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global smart waste management market and who are the key players?
What is the degree of competition in the industry?