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Redding, California - March 6, 2024

Smart Waste Management Market to be Worth $12.6 Billion by 2031

Smart Waste Management Market by Offering (Solutions, Services), Function (Smart Collection, Processing, Disposal), Application (Residential & Municipality, Industrial, Commercial, Construction & Demolition), and Geography - Global Forecast to 2031

Meticulous Research^®—leading global market research company, published a research report titled, 'Smart Waste Management Market by Offering (Solutions, Services), Function (Smart Collection, Processing, Disposal), Application (Residential & Municipality, Industrial, Commercial, Construction & Demolition), and Geography - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the global smart waste management market is projected to reach $12.6 billion by 2031, at a CAGR of 17.3% from 2024–2031. The growth of the smart waste management market is driven by the growing adoption of smart bins, the rising integration of IoT, and increasing concern over the environmental impact of waste management. However, the high cost of connected network infrastructure in developing nations restrain the growth of this market. Moreover, the growing adoption of smart city initiatives across the globe and the use of technological advancements in waste management devices are expected to generate market growth opportunities. However, non-uniform waste distribution in bins is a major challenge for market stakeholders. Additionally, the growing adoption of data analytics and machine learning in waste management are prominent trends in this market.

The global smart waste management market is segmented by offering (solutions [fleet management, network management, data analytics & advanced reporting, remote monitoring, and asset management] and services [professional services and managed services]), function (smart waste collection, smart waste processing, smart waste disposal, and smart waste to energy recovery), and application (residential & municipality, industrial, commercial, construction & demolition, energy, and water supply & sewage treatment). The study also evaluates industry competitors and analyzes the market at geographical levels.

Based on offering, the global smart waste management market is segmented into solutions and services. In 2024, the solutions segment is expected to account for the larger share of the global smart waste management market. The large market share of this segment is attributed to the increasing usage of connected network devices, the growing demand for low-cost monitoring and management devices in waste management practices in order to reduce overall operational costs, and the increasing focus on developing smart waste management technology to enhance customer experience.

Also, this segment is projected to register a higher CAGR during the forecast period.

Based on function, the global smart waste management market is segmented into smart waste collection, smart waste processing, smart waste disposal, and smart waste to energy recovery. In 2024, the smart waste disposal segment is expected to account for the largest share of the global smart waste management market. The large market share of this segment is attributed to the growing need for real-time verification of the recycling targets, the increasing adoption of smart waste disposal to reduce the quantity and number of greenhouse gasses emitted from landfills and incinerators, and the rising use of smart waste disposal to avoid unnecessary trips, save costs, and limit emissions.

However, the smart waste to energy recovery segment is expected to register the highest CAGR during the forecast period due to the growing need to reduce greenhouse gas emissions, the increasing adoption of waste to energy to reduce the amount of waste entering landfills, and the rising use of smart waste to energy to utilize by-products as fertilizers and develop the nutrient content of the soil.

Based on application, the global smart waste management market is segmented into residential & municipality, industrial, commercial, construction & demolition, energy, and water supply & sewage treatment. In 2024, the residential & municipality segment is expected to account for the largest share of the global smart waste management market. The large market share of this segment is attributed to the increasing volume of waste from households, parks, hospitals, and government organizations, the increasing need to reduce infrastructure, operating and maintenance costs, the rising adoption for the collection, separation, reuse, storage, transport, recycling, and end-of-life processes of waste in residential & municipality, and the increasing concern over the environmental impact of waste management.

Additionally, this segment is expected to register the highest CAGR during the forecast period.

Based on geography, the smart waste management market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the global smart waste management market. The growing adoption to reduce the amount of overflowing waste and illegal dumping, the growing government initiatives for smart cities, the rising use of technological advancements in waste management devices, and the growing adoption of data analytics and machine learning in waste management support the growth of this regional market.

However, the Asia-Pacific region is projected to register the highest CAGR during the forecast period due to the growing population with economic growth and increasing urbanization, the increasing government initiatives, including smart city initiatives, the rising adoption of waste sorting and recycling to reduce the amount of waste in landfills and incinerators, and the growing adoption of real-time monitoring and analytics to enable better planning and resource allocation for waste management.

Key Players

The key players operating in the smart waste management market are SUEZ Smart Solutions (France), Veolia Environnement SA (France), Enevo, Inc. (U.S.), Waste Management Holdings, Inc. (U.S.), Big Belly Solar, LLC. (U.S.), Covanta Holding Corporation (U.S.), Bine sp. z o. o. (Poland), Ecube Labs Co., Ltd. (South Korea), Republic Services, Inc. (U.S.), SENSONEO j. s. a. (Slovakia), Allvy Software Solutions Private Limited (India), DVERTEX INFO SYSTEM PRIVATE LIMITED (India), Faststream Technologies (U.S.), Evreka (Turkey), and Averda (U.K.).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5063

Key Questions Answered in the Report:

Which are the high-growth market segments in terms of offering, function, and application?
What is the historical market size for the global smart waste management Market?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the global smart waste management market?
Who are the major players in the global smart waste management market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the global smart waste management market?
What are the different strategies adopted by major market players?
What are the trends and high-growth countries?
Who are the local emerging players in the global smart waste management market, and how do they compete with other players?

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Redding, California - March 6, 2024

Smart Waste Management Market to be Worth $12.6 Billion by 2031

Smart Waste Management Market by Offering (Solutions, Services), Function (Smart Collection, Processing, Disposal), Application (Residential & Municipality, Industrial, Commercial, Construction & Demolition), and Geography - Global Forecast to 2031

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