Global Smart Waste Collection Technology Market – Industry Trends and Forecast to 2029

Global Smart Waste Collection Technology Market, By Services (Managed, Professional), Solution (Network Management, Optimization Solutions, Asset Management, Reporting and Analytics Solutions, Others), End User (Municipalities, Manufacturing and Industrial, Healthcare, Construction, Food and Retail, Others), – Industry Trends and Forecast to 2029

Market Analysis and Size

The increasing complexity of waste collection logistics, as well as the need to comply with waste processing regulations necessitates better waste management solutions, which are made possible by the use of technologies such as IoT sensors, RFID, GPS, and so on. Although the smart waste management market is in its early stages, it is expected to grow rapidly due to the availability of commercially viable technologies and operational benefits.

Data Bridge Market Research analyses that the smart waste collection technology market was valued at USD 1.75 billion in 2021 and is expected to reach the value of USD 3.83 billion by 2029, at a CAGR of 10.30% during the forecast period of 2022 to 2029.

Market Definition

Smart waste management is a combination of advanced technologies and innovative strategies that aid in the efficient sorting, recycling, and disposal of massive amounts of waste in a smooth and orderly manner.

Report Scope and Market Segmentation

Smart Waste Collection Technology Market Dynamics

Drivers

• Increasing investment in smart city designs

One of the encouraging factors driving growth in the smart waste collection technology market is the increasing investment in smart city designs. Certain plans are leading the way in developing countries, where governments are investing billions of dollars in smart city designs because everything will be combined in these smart cities, garbage collection with the use of smart waste collection technology will benefit certain regions. Furthermore, lowering the cost of internet of things (IoT) sensors is a significant factor driving growth in the smart waste collection technology syndicate. Consumption administration businesses are taking this very seriously as sensors will be installed in data visualisation programmes and screening support, as it will aid in the comfortable collection of garbage.

• Adoption of sustainable waste management and waste handling systems

The benefit of smart waste collection technology is that it uses sustainable waste management and waste handling systems that enable the Internet of Things (IoT), sensors, and data analytics. Rapid urbanisation and industrialization which are expected to generate massive amounts of waste, and intelligence waste management systems are required to manage this waste, which is expected to drive market growth. Furthermore, the rise in smart city initiatives is expected to propel the smart waste collection technology market forward.

Opportunity

Smart disposal is a critical strategic cost-effective method for optimising utilities through the use of advanced waste management technologies. It is a critical component of sustainable waste management practises, assisting societies in reducing waste's environmental impact. The global smart waste management market will continue to grow at an exponential rate as smart disposal applications in waste management, such as sanitary and bioreactor landfilling, and solar integration, expands.

Restraints

The smart waste collection technology market is expected to grow slowly due to high capital investments and a lack of efficient connectivity. Growth in technological advancements such as the Internet of Things (IoT) for waste collection and adoption in developing countries are expected to provide lucrative opportunities for market players during the forecast period.

This smart waste collection technology 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 the smart waste collection technology 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 Collection Technology Market

During the COVID-19 pandemic, the deployment of smart city technology, such as smart bins, was accelerated, as was their use. Indian Institute of Technology (IIT) Kanpur alumnus has developed a smart container with a unique layer on the surface of its opening that reduces the virus's lifetime by up to 95 %. This helps to reduce the risk of contamination to other customers while also increasing the level of safety when dealing with trash.

Recent Development

• The Metropolitan Atlanta Rapid Transit Authority (MARTA) has launched a new portfolio of Internet of Things (IoT) solutions that combine advanced analytics and artificial intelligence to help companies like MARTA improve their maintenance plans. Companies in asset-intensive industries such as chemicals, oil and gas, energy and utilities, manufacturing, and transportation will benefit greatly from these solutions.

Global Smart Waste Collection Technology Market Scope

The smart waste collection technology market is segmented on the basis of services, solution, and end user. The growth amongst these segments will help you analyze meagre 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.

Services

• Managed,
• Professional

Solution

• Network Management
• Optimization Solutions
• Asset Management
• Reporting and Analytics Solutions
• Others

End users

• Municipalities
• Manufacturing and Industrial
• Healthcare
• Construction
• Food and Retail
• Others

Smart Waste Collection Technology Market Regional Analysis/Insights

The smart waste collection technology market is analysed and market size insights and trends are provided by country, component, deployment model, loan amount size, subscription type, loan type and vertical as referenced above.

The countries covered in the smart waste collection technology market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.

Several industries, including automotive, consumer electronics, healthcare, construction, food and beverage, and packaging, are currently experiencing the fastest growth in the Asia Pacific region. The region's growing population, combined with its economic growth, is contributing to the technological evolution of several industries. The demand for smart waste management technologies in this region is increasing, owing to increased environmental awareness and transformation, as well as the region's increased adoption of smart city initiatives.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact 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 Collection Technology Market Share Analysis

The smart waste collection technology 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 collection technology market.

Some of the major players operating in the smart waste collection technology market are:

• IBM (US)
• SAP SE (Germany)
• Sensoneo (Slovakia)
• Big belly solar, LLC (US)
• Inogen Environmental Alliance, Inc. (US)
• Ecube Labs (South Korea)
• Covanta Holding Corporation (US)
• Pepperl+Fuchs (Germany)
• OnePlus Systems Inc. (US)
• Urbiotica (Spain)