Smart Waste Management Market Research, 2032
The global smart waste management market size was valued at $2.2 billion in 2023, and is projected to reach $8.3 billion by 2032, growing at a CAGR of 15.6% from 2024 to 2032. Smart waste management is the concept that uses sensors in waste to track live status of city waste collection services when bins are ready to be emptied, or filled. It also monitors historical data collected by sensors and databases, which can be used to identify and optimize driver routes, fill patterns, reduce operational costs, and schedules. Remote monitoring, and IoT based waste bins are more feasible to collect waste effectively. It also reduces routing and fuel prices.
Report Key Highlighters
The smart waste management market analysis has been studied in more than 16 countries. The analysis includes a country-by-country breakdown analysis in terms of value ($million) available from 2023 to 2032.
The research combined high-quality data, professional opinion and research, with significant independent opinion. The research methodology aims to provide a balanced view of the global market, and help stakeholders make educated decisions to achieve ambitious growth objectives.
The research reviewed more than 3,700 product catalogs, annual reports, industry descriptions, and other comparable resources from leading industry players to gain a better understanding of the market.
The smart waste management market share is marginally fragmented, with players such as 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. Major strategies such as contracts, partnerships, expansion, and other strategies of players operating in the market are tracked and monitored.
Government regulations toward illegal dumping
Government measures to reduce illegal dumping and introduction of sustainable mechanisms to manage waste are expected to drive the growth of the waste management market. Moreover, increase in adoption of waste-to-energy (WtE) incineration technology and recycling techniques is expected to boost the market growth. The Environmental Protection Agency (EPA) introduced the Resource Conservation and Recovery Act (RCRA) with an aim to reduce open dumping and manage hazardous and nonhazardous waste. In addition, introduction of country level government norms and regulations to curb greenhouse gas emissions is expected to augment the market growth. The adoption of recycling and prevention techniques to cater to massive amount of waste generated is anticipated to further drive the growth of the industry. All these factors are expected to increase demand for smart waste management services.
Rise in environmental awareness
Increase in environmental awareness regarding renewable waste management systems among people and rise in CO2 emissions, globally, are expected to generate growth opportunities for the market. Market players have been taking proactive measures to recycle MSW and nonhazardous industrial waste to reduce pollution and mitigate environmental hazards. Moreover, untreated waste and dumping affect health directly and indirectly by spreading vectors, which cause infectious diseases, and in turn, boost the demand for waste management services.
Increase in amount of waste generation
As per data released by the World Bank, in 2023, the global municipal solid waste generated 2.1 billion tons annually, which is expected to reach approximately 3.40 billion tons by 2050. Countries with the highest per capita waste disposable rates are islands, most likely owing to waste generated by tourists. As per data recorded in the year 2022, the annual waste generation in East Asia and the Pacific region is more than approximately 270 million tons per year. This quantity is majorly influenced by waste generation in China, which makes up 70% of the regional figures. All these factors significantly fuel the demand for waste management services, which, in turn, drives the smart waste management market growth.
Growth in urban population
More than 5 billion people lived in urban areas in 2022. This trend reveals a potential growth in urban population. As per the estimates and forecasts of the WHO, the global urban population is expected to grow by approximately 1.84% every year until 2020, which is at the rate of about 1.63% per annum from 2020 to 2025, and around 1.44% per annum from 2025 to 2030. As per data released by the World Bank, the amount of municipal solid waste (MSW), a crucial by-product of urban lifestyle, is growing even faster than the rate of urbanization. In 2010, there were 2.9 billion urban residents who generated about 0.64 kg of MSW per person per day (0.68 billion tons per year). As per the current estimates, the urban population is expected to reach 4.3 billion, generating about 1.42 kg/capita/day of municipal solid waste by 2025. As per UNESCAP, in the past five years, the ASEAN region witnessed an annual urban population growth rate of 2.6%. This rise in urban population is expected to result in an unprecedented rise in waste generation. Thus, rise in waste management services in urban regions is anticipated to boost the growth of the market.
Advantage of smart waste management is to use sustainable waste management and handle waste by monitoring systems with enabling Internet of Things (IoT), sensors and data analytics. Rapid urbanization & industrialization are expected to create huge amount of waste and to manage this waste intelligence waste management systems are required, which is anticipated to propel growth of the market. Furthermore, rise in smart city initiatives is anticipated to drive growth of the smart waste management market. For instance, the government of Canada spent $65 million on smart cities in cities such as Toronto and Vancouver. Rise in environmental awareness toward sustainable waste management fuels growth of the market.
The smart waste management market has witnessed significant growth over the past decade, owing to rise in strict environmental regulations by countries such as Europe and the U.S. for sustainable waste management, which is expected to boost growth of the market. Involvement of government and local authorities toward sustainable waste disposal is expected to boost growth of the market.
High capital investments and lack of efficient connectivity are anticipated to hinder growth of the smart waste management market. Growth in technological advancements such as the Internet of Things (IoT) to collect waste and growth in adoption in developing countries are projected to provide lucrative opportunities for the market players during the forecast period.
Increase in awareness for greener and cleaner environment across the world is a major factor that is expected to drive the market growth in upcoming years. Governments all across the world have put in place rules and regulations for trash collection and segregation to maintain the environment and human health. Thus, this is another important reason that could boost the expansion of the market in the coming years. Companies such as Envac group and AMCS group, offer artificial intelligence technology and applications that allow people to understand the automated waste collection system and to keep a track of the amount of waste generated to create awareness. The public concerns about using door-to-door garbage collection is a major obstacle to the smart waste management market This is the primary hurdle to the market's expansion. Furthermore, for garbage collection, smart waste management manufacturers are going toward cutting-edge technologies such as the Internet of Things (IoT), and others. These efforts will provide lucrative growth opportunities for the market during the forecast period.
The 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. Solid waste segment generated the highest revenue in 2022. On the basis of method, the market is divided into smart collection, smart processing, and smart disposal. Smart collection segment generated the highest revenue in 2022. On the basis of source, it is segmented into residential, commercial, and industrial. In 2022, residential segment generated the highest revenue. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. In 2022, North America was the highest contributor to the smart waste management market share, and Asia-Pacific region is anticipated to secure a leading position during the forecast period.
Competition Analysis
The key players profiled in the smart waste management market report includes 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 business expansion, agreement, acquisition, and partnership as their key developmental strategy to expand their service portfolio. For instance, in February 2020, Waste Management Inc. opened a new renewable natural gas facility in Louisville, Kentucky, U.S., with $30 million spend on opening the facility center. The facility would be used to produce energy from waste.
Key Developments/ Strategies in Smart Waste Management Market
In June 2023, UK-based Polytag established partnership with Biffa, and UK retailers Ocado Retail, Co-op, and Ald. The aim of the partnership is to offer them with packaging lifecycle data.
In July 2023, Hitachi Zosen Inova AG, a subsidiary of Hitachi Zosen Corporation received orders to operate and maintain two WtE plants in the UK. Each order has a respective contract period of 25-years after each plant has completed their construction and commissioning phases.
In June 2023, Masterflex and REMONDIS entered into a partnership to establish a circular economy for industrial products made of engineered plastics and to implement it exemplarily in the market for hose and connection systems.
In June 2023, Republic Services, Inc. completed its acquisition of GFL Environmental's Colorado and New Mexico operations. The vertically integrated operations include recycling, collection and disposal assets in four Colorado markets Denver, Colorado Springs, Durango and Caon City as well as the Bloomfield, N.M., market.
In November 2023, Republic Services, Inc. and Blue Polymers, LLC established partnership to develop an advanced polymer production facility to advance plastics circularity and supply recycled materials for use in sustainable packaging and other applications. Both facilities are expected to open in late 2024 in Indianapolis..
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging smart waste management market trends and dynamics.
- In-depth analysis of the market is conducted by the smart waste management market overview and estimations for key market segments between 2023 and 2032.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of 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 smart waste management market forecast analysis from 2024 to 2032 is included in the report.
- The key players within the smart waste management market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the smart waste management industry.
Smart Waste Management Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 8.3 billion |
 Growth Rate | CAGR of 15.6% |
 Forecast period | 2023 - 2032 |
 Report Pages | 186 |
 By Waste Type |
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 By Method |
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 By Source |
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 By Region |
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 Key Market Players | Sensoneo j. s. a., Ecube Labs Co Ltd, Urbiotica, S.L., Republic Services Inc., Enevo Oy, Bigbelly, Inc., Waste Management Inc., SUEZ Environmental Services., Veolia Environnement S.A., Covanta Holding Corporation |
Analyst Review
Utilization of waste management services is expected to increase, owing to rapid industrialization and urbanization. Moreover, significant technological advancements such as data analytics, IoT, and cloud-based systems in solid waste management solutions fuel the market growth. Increase in smart city initiatives, specifically in North America and Europe, is anticipated to boost growth of the global smart waste management market.
Rise in environmental related concerns for waste recycling is projected to cater to growth of the market. Use of data analytics, smart bins for collection and disposal of waste material, and garbage monitoring systems to handle waste effectively is anticipated to propel growth of the smart waste management market. However, high capital investments associated with smart bins or garbage monitoring systems are anticipated to hamper growth of the global smart waste management market. In addition, waste management network requires high bandwidth and stable internet connectivity, however, current sensors would not fit the future IoT sensors. Hence, lack of efficient connectivity is projected to restrain growth of the global smart waste management market. Technological advancements and rise in adoption of smart systems in developing countries are anticipated to provide lucrative opportunities for global smart waste management companies during the forecast period.
Technological advancements are the upcoming trends of Smart Waste Management Market in the world
Smart Collection, Smart Processing, Smart Disposal is the leading application of Smart Waste Management Market
North America is the largest regional market for Smart Waste Management
The global smart waste management market was valued at $2,234.1 million in 2023
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.
The global smart waste management market is projected to reach $8,296.9 million by 2032
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
Fluctuating raw material prices are the effecting factor for Smart Waste Management market.
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