“Rising Adoption of Digital Platforms and Data Analytics”
The product stewardship market is witnessing significant growth, driven by the increasing demand for sustainable solutions and the implementation of strict environmental regulations. One key trend is the rising adoption of digital platforms and data analytics to enhance sustainability efforts. Companies are leveraging these tools to monitor product life cycles, manage waste, and ensure compliance with environmental standards. For instance, Sphera, a leading provider of product stewardship software, offers digital solutions that help organizations track product environmental impacts and streamline compliance with global regulations. These advancements enable businesses to adopt more efficient EHS (Environment, Health, and Safety) strategies, improve waste management, and reduce the carbon footprint. As governments around the world continue to tighten regulations, such as the EU's Circular Economy Action Plan, businesses are increasingly turning to digital tools and analytics to meet compliance requirements and foster a more sustainable future. This trend is expected to continue, further driving the growth of the product stewardship market.
