Press release
Steady Expansion Forecast for Smart Waste Management Market, Projected to Reach $4.9 Billion by 2029
Smart Waste Management Market
Smart Waste Management Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for intelligent waste management has witnessed a swift expansion in the last few years. It is expected to jump from $2.58 billion in 2024 to $2.94 billion in 2025, equating to a compound annual growth rate (CAGR) of 13.8%. The acceleration in growth during the historic period can be credited to several factors such as population growth, heightened understanding of environmental repercussions, augmented investment in waste management, amplified recycling initiatives, and heightened public health worries.
Smart Waste Management Market Size Forecast: What's the Projected Valuation by 2029?
Anticipated to experience significant expansion in the forthcoming years, the smart waste management market is projected to reach $4.9 billion in 2029, with a compound annual growth rate (CAGR) of 13.7%. Factors contributing to this growth during the forecast period include burgeoning urbanization, an emphasis on the circular economy, an increase in smart city programs, more stringent environmental regulations implemented by various nations, and rapid industrial development. Looking forward, key trends within the forecast period embrace utilizing the Internet of Things (IoT) for smart waste management, burgeoning acceptance of IoT, AI and machine learning uptake, integration of AI-equipped robots, and smart compactors.
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What Are the Drivers Transforming the Smart Waste Management Market?
The smart waste management market is predicted to be driven by the surge in industrialization. Industrialization is a process that involves the establishment of industries within an economy, typified by the mechanized manufacture of products and urban expansion. A host of factors, including infrastructure development, urbanization, and economic growth contribute to industrialization's quick growth. A multitude of benefits are provided by smart waste management for industries such as increased production, efficient resource usage, cost reduction, adherence to regulations, mitigating risks, sustainability, data-based decision making, and enhanced brand image. For instance, the Office for National Statistics, a UK governmental organization, reported in September 2024 that the total product sales by UK manufacturers in 2023 amounted to £456.1 billion ($568.3 billion), a rise of £17.2 billion ($21.2 billion) or 3.9% from £438.9 billion ($533.8 billion) in 2022. Of all sectors, motor vehicle manufacturing experienced the most substantial growth, increasing by £9.6 billion ($11.7 billion) or 22.0% to a total value of £53.3 billion ($64.9 billion). Consequently, the growth of the smart waste management market is spurred by rapid industrialization.
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What Long-Term Trends Will Define the Future of the Smart Waste Management Market?
Leading firms in the smart waste management market are concentrating on groundbreaking technologies like artificial intelligence to automate responsibilities that typically require human intelligence, providing them with a competitive edge in the sector. Smart waste management utilizing artificial intelligence enhances garbage collection and recycling operations by analyzing information and improving both efficiency and sustainability. For instance, ZenRobotics Ltd., a Finland-based robotics firm, in February 2024 introduced ZenRobotics 4.0, its newest series of waste sorting robots. These fourth-generation robots are crafted for trouble-free assimilation into the current waste management framework, providing scalability and adaptability for various applications. These future generation waste-sorting robots, with their power to boost recycling rates, lower contamination, and enhance operational efficiency symbolize a significant progression in environmentally-friendly waste management methods.
Which Segments in the Smart Waste Management Market Offer the Most Profit Potential?
The smart waste managementmarket 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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Which Firms Dominate the Smart Waste Management Market by Market Share and Revenue in 2025?
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 Regions Offer the Highest Growth Potential in the Smart Waste Management Market?
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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