Global Smart Waste Management Market, By Component (Hardware, Solution, Services), Type of Waste (Solid, Special, E-Waste), Method (Smart Collection, Smart Processing, Smart Energy Recovery, Smart Disposal), Application (Healthcare, Industrial and Manufacturing, Construction, Food and Retail, Residential, Others) - Industry Trends and Forecast to 2029
Market Analysis and Size
According to a report, urban populations produce is known to produce approximately 4.6 Kilograms of solid waste per capital. Thus, government of various regions are highly investing in the urban waste collection. IoT based waste bins among others are widely being deployed as they are more feasible to collect waste effectively.
Global Smart Waste Management Market was valued at USD 423.60 million in 2021 and is expected to reach USD 1528.62 million by 2029, registering a CAGR of 17.40% during the forecast period of 2022-2029. Residential accounts for the largest application segment in the respective market owing to the high demand for waste management services from residential sector. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Smart waste management is the process of imposing the technique used to monitor the collection, disposal and transportation of waste material services for effective waste management operations. This involves the internet of things (IoT), which contains a broad variety of cameras, mobile computers and others.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Hardware, Solution, Services), Type of Waste (Solid, Special, E-Waste), Method (Smart Collection, Smart Processing, Smart Energy Recovery, Smart Disposal), Application (Healthcare, Industrial and Manufacturing, Construction, Food and Retail, Residential, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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IBM (US), SAP SE (Germany), SENSONEO (Slovakia), Enevo (Hong Kong), Big Belly Solar, LLC. (US), Ecube Labs Co., Ltd. (South Korea), Urbiotica (Spain), WAVIoT (US), Pepperl+Fuchs (India) Pvt. Ltd. (India), OnePlus Systems Inc (China), Covanta Holding Corporation (US), RecycleSmart Solutions. (Canada), Veolia (France), Republic Services, Inc. (US), Enerkem (Canada), Building Research Establishment Ltd (UK), and SUEZ (France), among others
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Market Opportunities
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Smart Waste Management Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Emergence of Smart Cities
The increase in demand for the smart waste management due to the development of smart cities to provide improved lifestyle in the urban areas acts as one of the major factors driving the smart waste management market. Also, the adoption of smart city initiatives across regions has a positive impact on the market.
- Regulations Associated with the Waste Processing
The increase in the complexity in the logistics of waste collection along with the need to comply with regulations pertaining to waste processing accelerate the market growth. The use of technologies, such as RFID, GPS, and IoT sensors, among others owing to the availability of commercially viable technologies drives the market.
- Government Initiatives
The rise in the government initiatives through awareness programs showcasing importance of waste segregation and waste management further influence the market. The increase in interest of companies in waste management towards improving the renewable benefits of waste assists in the expansion of the market.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the smart waste management market.
Opportunities
Furthermore, adoption of construction and demolition (C&D) materials in urban areas along with rise in number of construction projects extend profitable opportunities to the market players in the forecast period of 2022 to 2029. The surge in demand for waste management services from emerging economies will further expand the market.
Restraints/Challenges
On the other hand, need of huge capital investment to discard bio-medical waste and absence of necessary framework for collection and segregation of waste are expected to obstruct market growth. Also, high cost associated with the recycling of plastic and concerns regarding illegal export of e-waste in developing countries are projected to challenge the smart waste management market in the forecast period of 2022-2029.
This smart waste management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on smart waste management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Smart Waste Management Markets
The COVID-19 had a negative impact on the smart waste management market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for devices and tools associated with the smart waste management technology. The supply chain got hampered during the pandemic along with delay logistics activities. However, the smart waste management market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions and continuous initiatives taken by the government.
Recent Developments
- SUEZ signed an agreement with Eramet in May’2021 in order to expand joint efforts in the recycling end-of-life electric vehicle batteries sector. The partnership aims at providing competitive, sustainable and high-performance battery recycling solution for the European market.
- Veolia joined hands with Groupe Renault in March’2021 with the purpose of enabling circular economy of EV battery metals in Europe through closed-loop recycling.
Global Broadcast and Media Technology Market Scope and Market Size
The smart waste management market is segmented on the basis of component, type of waste, method, and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Hardware
- Solution
- Optimization Solutions
- Fleet Tracking and Monitoring
- Remote Device Monitoring
- Mobile Workforce Management
- Analytics and Reporting Solutions
- Advanced Analytics
- Data Management
- Dashboards and Platforms
- Asset Management
- Network Management
- Others
- Services
- Professional Services
- Managed Services
- Support and Maintenance Services
- Integration and Deployment Services
- Consulting Services
Type of Waste
- Solid
- Special
- E-Waste
Method
- Smart Collection
- RFID Technology (Radio Frequency Identification)
- GPS Routing Systems
- Vacuum Systems
- Fuel Switching
- Smart Processing
- Advanced MRFs
- Mechanical Biological Treatment
- RDF Facilities
- Smart Energy Recovery
- Advanced Thermal Recycling
- Waste To Fuel (W2F)
- Plasma Arc Gasification
- Pyrolysis
- Gasification
- Advanced Thermal Treatment
- Vehicular Use
- Electricity Generation
- Direct Use
- Biological Treatment
- Incineration Variants
- Incineration
- Waste to Energy (WTE)
- Advanced Thermal Recycling
- Smart Disposal
- Sanitary Landfills
- Bioreactor Landfills
- Landfill and Solar Integration
Application
- Healthcare
- Industrial and Manufacturing
- Construction
- Food and Retail
- Residential
- Others
Smart Waste Management Market Regional Analysis/Insights
The smart waste management market is analysed and market size insights and trends are provided by country, component, type of waste, method, and application as referred above.
The countries covered in the smart waste management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the smart waste management market due to the adoption of advanced technology along with growing number of research and development activities within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the levels of investment in internet of things applications along with stringent government regulations regarding waste management in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Waste Management Market
The smart waste management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to smart waste management market.
Some of the major players operating in smart waste management market are
- IBM (US)
- SAP SE (Germany)
- SENSONEO (Slovakia)
- Enevo (Hong Kong)
- Big Belly Solar, LLC. (US)
- Ecube Labs Co., Ltd. (South Korea)
- Urbiotica (Spain)
- WAVIoT (US)
- Pepperl+Fuchs (India) Pvt. Ltd. (India)
- OnePlus Systems Inc (China)
- Covanta Holding Corporation (US)
- RecycleSmart Solutions. (Canada)
- Veolia (France)
- Republic Services, Inc. (US)
- Enerkem (Canada)
- Building Research Establishment Ltd (UK)
- SUEZ (France)
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