Smart Waste Management Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Canada, Germany, France, UK - Size and Forecast 2024-2028

Smart Waste Management Market Forecast 2024-2028

The smart waste management market size is forecast to increase by USD 2.38 billion at a CAGR of 14.66% between 2023 and 2028. The market's growth trajectory hinges on numerous pivotal factors. Firstly, the accelerating pace of urbanization has triggered a corresponding surge in urban waste generation, significantly impacting debris management dynamics. Secondly, stringent government regulations pertaining to hazardous waste management have become increasingly stringent, necessitating robust compliance measures from industries. Lastly, the escalating volume of industrial residual further compounds the challenges and opportunities within the debris management sector. These interconnected factors underscore the critical importance of efficient waste management solutions, technological innovations, and sustainable practices to mitigate environmental impacts while fostering economic growth. 

Moreover, the market in North America is fuelled by the availability of an advanced network communication infrastructure and a well-developed connected device ecosystem. Aco Recycling offers smart waste management solutions such as micro-sensor chips and a central server. Micro-sensor chips are placed in the bins to record crucial information like trash levels, displacement, and busy hours in which maximum trash is filled up. The central server stores all the relevant information from the garbage bins and automates subsequent actions. Big Belly Solar Inc. offers smart waste management solutions such as Bigbelly Element, Bigbelly Sense Max, Bigbelly Smart, Bigbelly Smart Max, and Bigbelly Smart Max smart bins.

Market Forecasting and Size

Market  Forecast 2024-2028

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Market Dynamic

The market is driven by factors such as the increasing volume of waste generated from residential buildings, commercial spaces, and public places. The adoption of connective-technology-based products like RFID tags, sensor-based containers, and vacuum containers has improved debris disposal efficiency. Advantages such as intelligent monitoring, route optimization, and sensor technologies contribute to the market's growth. However, challenges include the complexity of waste processing, the need for effective debris segregation, and ensuring seamless integration of IoT sensors and technologies into waste management systems. Smart city initiatives are playing a crucial role in shaping the future of waste management. Our researchers studied the market research and growth data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.

Key Market Driver - Increasing urbanization leading to urban waste generation

Due to the growth in the global population, urbanization has increased globally. The share of the urban population is raised from 51.66% in 2010 to 56.15% in 2020. In addition, more than 65% of the global population is expected to reside in urban areas by 2050. This growth in urban population is driven by developing economies such as China, India, and Nigeria due to their rapid economic development.

Furthermore, the need for basic facilities increased with the growth in the urban population. Thus, the rising urbanization results in an increase in the amount of debris generated. Solid dirt collection rates vary with income levels across the world. Countries with high-income levels, such as the US, Luxembourg., Switzerland, and Germany. have a higher solid waste collection rate compared with low-income countries. The rising amount of urban dirt generation is expected to cause high environmental pollution and health issues, which will adversely affect people residing in urban areas. Hence, the efficient coordination of managing solid dirt is crucial. The increase in urbanization is expected to drive the growth of the market during the forecast period.

Significant Market Trends - Rise in the number of strategic partnerships for smart waste management solutions

In order to expand the market presence and increase the revenue share, market Companies are forming strategic partnerships with market participants. Real-time information tracking, data-driven decisions, and real-time trash level tracking are all made possible by these partnerships for end users. For instance, in December 2021, Birdz, a pioneer in environmental IoT, and Sensoneo Co., a specialist in smart solutions for cities and businesses, announced a strategic partnership aimed at accelerating their joint development in the international market of intelligent coordination of managing and recovery of waste.

Moreover, Nordsense makes a strategic partnership with Neowin for greener buildings as a rising number of real estate customers are looking for more environmentally friendly ways of dealing with debris in their properties in the Nordic region. Thus, the increase in the number of strategic partnerships is driving solutions. Which will be compatible with advanced technologies integrated into trash bins and provide real-time information on waste collection. Hence, such factors are driving the market during the forecast period.

Major Market Challenge - Issues associated with effective deployment of smart waste management solutions

Solutions for smart waste management include collecting, disposing of, and recycling waste. Trash bins transport trash to temporary collection centers by collecting it from private companies or municipalities' trucks. The trash is then taken to a recycling plant from these centers. Moreover, ineffective use of sensors may result in wrong information being sent to truck drivers.

For instance, at the time of collection, some of the trash bins may be overfilled, while others may be underfilled. Similarly, if the trash has been deposited unevenly in one part of the bin, the sensors may read the bin as full and send the same information. In case the trash bins are overfilled, the truck drivers will be updated about their locations to collect the trash. This may lead to the excessive consumption of fuel, which increases the OPEX of the company offering solutions. Hence, ineffective implementation is one of the challenges hindering the growth of the market during the forecast period.

Market Segmentation by Application, Type, and Geography

The market segmentation focuses on various sectors, including residential buildings, commercial spaces, and public places. The market is driven by connective-technology-based products such as radio frequency identification (RFID) tags, sensor-based containers, and vacuum containers that enhance waste management efficiency. Disposal tags play a crucial role in tracking and managing solid municipal waste, optimizing waste collection routes, and reducing environmental impact. The advantages of smart waste management include intelligent monitoring, route optimization through sensor technologies, and enhanced trash production analysis. Internet of Things (IoT) technologies, cameras, and mobile computers facilitate waste processing, RFID-enabled GPS and IoT sensors aid in waste segregation and enable smart waste management systems for remote monitoring. These advancements align with smart city initiatives and contribute to the overall improvement of waste management processes.

Application Segment Analysis:

The collection segment is estimated to witness significant growth during the forecast period. The waste collection process refers to a traditional way of physically monitoring the debris in waste bins. In addition, uneven coordination of managing waste, typically domestic, industrial, and environmental residues, is the root cause of many issues, such as pollution and life-threatening diseases. Furthermore, these systems help in the auto-management of debris without human interaction in order to maintain a clean environment to overcome all these issues.

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The collection segment was the largest segment and was valued at USD 895.05 million in 2018. Moreover, smart waste management solutions can be implemented in cities where debris production is domestically high. In addition, it is essential to control the increase in garbage. Furthermore, this system plays a major role in making cities more efficient and smarter by automating and optimizing several operations of city management. Therefore, such initiatives are possible by connecting garbage collection and disposal infrastructure and devices all around the cities and communities. Hence, such developments will propel the growth of the collection segment in the global market during the forecast period.

Type Segment Analysis:

Based on the type, the market has been segmented into solid waste, special waste, and e-waste. The solid waste segment will account for the largest share of this segment. Solid waste comprises any garbage or discarded material, resulting from industrial, commercial, mining, and agricultural operations and also from community activities. In addition, it also includes items used on a daily basis, including product packaging, food scraps, and newspapers. Therefore, such debris is generated from multiple sources, such as residential areas, institutions such as schools and hospitals, and commercial sources, including restaurants and small businesses. Furthermore, most of these debris materials contain toxic substances that can leach into the soil and pollute the groundwater. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.

Regional Analysis

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North America is estimated to contribute 35% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The market in North America is driven by the availability of an advanced network communication infrastructure and a well-developed connected device ecosystem which enables the easy implementation of smart waste management solutions in the region. In addition, several industries in this region have already adopted advanced technologies such as IoT, machine learning, predictive analytics, and artificial intelligence (AI), which enable the effective implementation of these solutions. Moreover,  the availability of a robust transportation network also drives the market. In addition, the US and Canada are two of the major generators of hazardous debris in the region. Therefore, government authorities have implemented laws and regulations associated with the management of hazardous residue. Hence, such factors are driving the market in North America during the forecast period.

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

BRE Group: The company offers smart waste management solutions such as SmartWaste, waste management, environmental monitoring, and sustainability software. The company offers user-friendly interfaces, in-depth reporting, unmatched customer support, and modules for comprehensive data collection and comparison against industry benchmarks.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

Bine sp. z o. o.  Ecube Labs, Enevo Inc., Evreka Yazilim Donanim Danismanlik Egitim Sanayi ve Ticaret A.S., Mr. Fill B.V., Nordsense, Pepperl and Fuchs SE, RTS Holding Inc., SENSONEO j. s. a., SUEZ SA, Waste Harmonics LLC, Wellness TechGroup, Covanta Holding Corp., Kantor Waste4Change, Republic Services Inc., Veolia Environnement SA, and Waste Management Inc.

Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Segment Overview

The market analysis and report forecasts market growth by revenue at global, regional & country levels and provides a market growth analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Application Outlook
  • Collection
  • Landfill
  • Recovery and recycling
  • Processing
• Type Outlook 
  • Solid waste
  • Special waste
  • E-waste
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analysis Overview

The market is witnessing rapid growth due to increasing urbanization and the resultant surge in waste generation. Municipalities and concerned authorities are implementing smart city initiatives to address waste management challenges efficiently. Advanced technologies such as IoT-based waste bins, data analytics, and remote monitoring systems optimize waste collection routes, reducing operational costs. Key players like IBM Corporation and Bigbelly Inc are driving innovation in waste intelligence management systems. However, challenges such as higher operational costs and inadequate connectivity hinder market growth. Stringent environmental regulations and government policies promoting environmental sustainability are boosting market demand. With rising awareness and adoption of smart waste management solutions, particularly in regions like Asia Pacific and the UAE, the market is poised for significant growth, supported by technological advancements and government initiatives.

Moreover, the integration of IoT-based waste bins and advanced technologies has revolutionized waste collection and waste processing, enhanced efficiency and public health standards. Companies like Covanta Holding Corporation and Veolia Environmental Services are pioneering innovative strategies for waste reprocessing and e-waste management. With the support of governments and industries, systems are becoming integral to modern urban infrastructure, particularly in smart cities like Pennsylvania. However, challenges persist, including the need for sustainable waste management solutions amid strict environmental regulations. Efforts to optimize waste collection services through historical data analysis, driver routes optimization, and IoT-based fill pattern monitoring are underway to address these challenges, driving the market towards sustainable growth.

Market Scope
Report Coverage	Details
Page number	172
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 14.66%
Market Growth 2024-2028	USD 2.38 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	14.46
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 35%
Key countries	US, Canada, Germany, France, and UK
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Aco Recycling, Big Belly Solar Inc., Bine sp. z o. o. , BRE Group, Ecube Labs, Enevo Inc., Evreka Yazilim Donanim Danismanlik Egitim Sanayi ve Ticaret A.S., Mr. Fill B.V., Nordsense, Pepperl and Fuchs SE, RTS Holding Inc., SENSONEO j. s. a., SUEZ SA, Waste Harmonics LLC, Wellness TechGroup, Covanta Holding Corp., Kantor Waste4Change, Republic Services Inc., Veolia Environnement SA, and Waste Management Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2028
• Precise estimation of the market growth and trends and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Market growth and forecasting across North America, Europe, APAC, South America, and the Middle East and Africa
• A thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Comprehensive market report analysis of factors that will challenge the growth of market  companies

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