Press release
2025 Smart Waste Management Industry Trends Report: Long-Term Outlook Through 2034
Smart Waste Management
How Large Will the Smart Waste Management Market Size By 2025?
In recent times, the market size for smart waste management has seen considerable growth. Its trajectory, calculated from 2024's $2.58 billion, is projected to touch $2.96 billion in 2025, boasting a compound annual growth rate (CAGR) of 14.5%. The historical growth period was due to a surge in population, heightened recognition of environmental effects, an upward trend in waste management investment, a rise in recycling campaigns, and escalating worries about public health.
How Big Is the Smart Waste Management Market Size Expected to Grow by 2029?
In the upcoming years, the smart waste management market is anticipated to experience a significant expansion. It is projected to increase to $5.02 billion by 2029, with a compound annual growth rate (CAGR) of 14.2%. Factors attributable for the growth in this period encompass heightened urbanization, an escalating emphasis on the circular economy, the expansion of smart city projects, stringent environmental laws by nations, and swift industrialization. Key trends identified during this forecast period include implementation of smart waste management through IoT, the rising embracement of the Internet of Things (IoT), the inclusion of AI and machine learning, the incorporation of AI-equipped robots, and smart compactors.
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Which Key Market Drivers Powering Smart Waste Management Market Expansion and Growth?
The swift progression of industrialization is seen as a primary growth catalyst for the smart waste management market. Industrialization involves the establishment of industries in a society or economy, generally resulting in the mechanized creation of goods and urban sprawl. A combination of forces such as infrastructural development, urbanization, and economic progression converge to spur industrialization. Implementing smart waste management in industries provides multiple benefits encompassing increased production, optimal resource allocation, cost reduction, adherence to regulations, mitigation of risks, sustainability, data-led judgement calls, and enhancement of brand image. As an example, the Office for National Statistics, a government agency in the UK, reported in September 2024 that in 2023, product sales from UK manufacturers rose to £456.1 billion ($568.3 billion), a surge of £17.2 billion ($21.2 billion) or 3.9% compared to the £438.9 billion ($533.8 billion) in 2022. The motor vehicles manufacturing sector witnessed the highest increment, shooting up by £9.6 billion ($11.7 billion), or 22.0%, to a total of £53.3 billion ($64.9 billion). Thus, the breakneck pace of industrialization is fueling the expansion of the smart waste management market.
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Which Fast-Growing Trends Are Poised to Disrupt the Smart Waste Management Market?
Key players in the smart waste management market are honing in on advanced technologies like artificial intelligence (AI) to automate processes normally reliant on human intellect and thus gain an advantage in the industry. The application of AI to smart waste management enhances garbage collection and recycling procedures, through data analysis to boost effectiveness and ecological sustainability. For instance, ZenRobotics Ltd., a robotics firm based in Finland, announced the launch of ZenRobotics 4.0 in February 2024. This latest version of waste sorting robots is engineered to smoothly integrate into current waste management systems, providing scalability and adaptability for varying use-cases. As these fourth-generation robots boost recycling frequency, minimize contamination, and heighten operational productivity, they represent a major stride in eco-friendly waste management methods.
What Are the Emerging Segments in the Smart Waste Management Market?
The smart waste management market covered in this report is segmented -
1) By Type: Smart Collection, Smart Processing, Smart Disposal, Smart Energy Recovery
2) By Waste Type: Solid Waste, Special Waste, Electronic Waste (E-Waste)
3) By Application: Residential And Municipality, Industrial, Commercial, Construction And Demolition, Energy, Water Supply And Sewage Treatment
Subsegments:
1) By Smart Collection: Smart Bins, Smart Sensors For Waste Monitoring, GPS Tracking For Waste Collection Vehicles
2) By Smart Processing: Waste Sorting and Recycling, Composting Systems, Automated Waste Processing
3) By Smart Disposal: Smart Landfills, Waste-To-Energy Technologies, Smart Incinerators
4) By Smart Energy Recovery: Biogas Production, Waste-To-Energy Plants, Energy From Landfill Gas
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Who Are the Global Leaders in the Smart Waste Management Market?
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.
Which are the Top Profitable Regional Markets for the Smart Waste Management Industry?
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.
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