PUBLISHER: The Business Research Company | PRODUCT CODE: 1706936
PUBLISHER: The Business Research Company | PRODUCT CODE: 1706936
Smart waste management involves leveraging advanced technologies and data analytics to optimize the collection, transportation, and disposal of waste. It aims to improve efficiency, reduce costs, and minimize environmental impact by utilizing IoT devices, sensors, and real-time monitoring systems. This innovative approach enables better resource allocation and promotes sustainable waste management practices.
The primary types of the smart waste management market include smart collection, smart processing, smart disposal, and smart energy recovery. Smart collection entails using technology such as sensors and IoT devices to optimize waste collection processes. Various waste types, including solid waste, special waste, and electronic waste (E-Waste), are managed across applications such as residential and municipal, industrial, commercial, construction and demolition, as well as energy, water supply, and sewage treatment.
The smart waste management market research report is one of a series of new reports from The Business Research Company that provides smart waste management market statistics, including smart waste management industry global market size, regional shares, competitors with a smart waste management market share, detailed smart waste management market segments, market trends, and opportunities, and any further data you may need to thrive in the smart waste management industry. This smart waste management research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The smart waste management market size has grown rapidly in recent years. It will grow from $2.58 billion in 2024 to $2.96 billion in 2025 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to growth in population, increased awareness of environmental impact, increased investment in waste management, increased recycling initiatives, and increased public health concerns.
The smart waste management market size is expected to see rapid growth in the next few years. It will grow to $5.02 billion in 2029 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to increasing urbanization, growing focus on the circular economy, rise in smart city initiatives, rise in strict environmental regulations by countries, and rapid industrialization. Major trends in the forecast period include smart waste management using IoT, increasing acceptance of the Internet of Things (IoT), adoption of AI and machine learning, integration of robots equipped with AI, and smart compactors.
The rapid pace of industrialization is expected to drive the growth of the smart waste management market in the future. Industrialization refers to the development of industries within an economy, often involving mechanized production of goods and the expansion of urban areas. Several factors, such as infrastructure development, urbanization, and economic growth, contribute to the acceleration of industrialization. Smart waste management offers numerous benefits to industries, including increased productivity, better resource utilization, cost reductions, regulatory compliance, risk management, sustainability, data-driven decision-making, and enhanced brand reputation. For example, in September 2024, the Office for National Statistics, a UK-based government agency, reported that the total value of product sales by UK manufacturers in 2023 reached £456.1 billion ($568.3 billion), a £17.2 billion ($21.2 billion) (3.9%) increase from £438.9 billion ($533.8 billion) in 2022. The motor vehicle manufacturing sector saw the largest growth, rising by £9.6 billion ($11.7 billion) (22.0%) to a total of £53.3 billion ($64.9 billion). Consequently, the rapid industrialization is driving the expansion of the smart waste management market.
Leading companies in the smart waste management sector are prioritizing innovative technologies, particularly artificial intelligence (AI), to automate tasks traditionally requiring human intervention and gain a competitive advantage. AI technology enhances garbage collection and recycling processes by analyzing data to optimize efficiency and sustainability. For example, ZenRobotics Ltd. introduced ZenRobotics 4.0 in February 2024, featuring robots designed for seamless integration into existing waste management systems. These robots, capable of improving recycling rates, reducing contamination, and enhancing operational efficiency, represent a significant advancement in sustainable waste management practices.
In March 2023, Recycle Track Systems Inc., a US-based waste management firm, acquired RecycleSmart Solutions, Inc., expanding its service offerings and product portfolio to provide comprehensive smart waste diversion, organic capture, and recycling management solutions to businesses throughout North America. RecycleSmart Solutions Inc., based in Canada, specializes in offering recycling and waste management services.
Major companies operating in the smart waste management market are International Business Machines Corporation, Veolia Environnement SA, Republic Services Inc., Waste Management Holdings Inc., TOMRA Sorting Solutions, Pepperl+Fuchs SE, Averda International LLC, AMCS Group Limited, Pellenc Selective Technologies, Harvest Power LLC, Faststream Technologies, Recycle Smart Solutions LLC, Compology Inc., Geminor AS, FleetMind Solutions Inc., Big Belly Solar LLC, Ecube Labs Co. Ltd., Otto Waste Systems Pvt. Ltd., WAVIoT LLC, SUEZ Smart Solutions, Allvy Software Solutions Private Limited, CleanRobotics Inc., Enevo Inc., Evreka YazIlIm ve TasarIm A.S.
North America was the largest region in the smart waste management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart waste management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the smart waste management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart waste management market consists of revenues earned by entities by providing services such as waste collection, recycling, and disposal. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart waste management market also includes sales of Smart bins, compactor bins, smart recycling system, and trash compactors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The IT market is segmented into IT services, computer hardware, telecom and software products.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Waste Management Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart waste management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart waste management ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart waste management market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.