Smart Waste Collection Technology Market Size, Share, And Growth Report 2032

Smart Waste Collection Technology Market: Size

The global Smart Waste Collection Technology market size was worth around USD 2.32 billion in 2023 and is predicted to grow to around USD 5.55 billion by 2032 with a compound annual growth rate (CAGR) of roughly 10.2% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Smart Waste Collection Technology market on a global and regional level.

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Smart Waste Collection Technology Market: Overview

Smart waste collection technology is an application of various software, sensors, and electronic equipment to improvise the waste collection process. The prime objectives of smart waste collection technique are improving the cost-efficiency of waste collection through route optimization and preventing over-filling of waste collectors. Smart waste collection aids in maintaining hygiene in cities and preventing diseases that spread through contamination in nature. Smart waste collection is an integral part of smart city management across the globe. Internet of things (IoT) has had a cardinal role in the success of smart waste collection technology. Parameters like fill level and temperature and tilt of dustbins are majorly analyzed by this software, to optimize the waste collection route.

The smart waste collection technology market has witnessed robust growth in the recent past, owing to the growing trend of smart city development globally and rapid urbanization in emerging economies. Enhanced awareness about time and cost efficiency is another factor driving the smart waste collection technology market growth. However, huge capital investment and high maintenance costs may restrain the growth of smart waste collection technology market. Alternatively, tremendous potential for IoT and wireless sensing in the future is projected to fuel the market expansion for smart waste collection technology.

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Smart Waste Collection Technology Market: Segmentation

The study provides a crucial view of the smart waste collection technology market by segmenting it based on service, solution, end-user, and region. All the segments of the smart waste collection technology market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By solution, the market includes reporting and analytics solutions, asset management, network management, optimization solutions, and others. In 2023, network management held the largest share of the global market.

By service, the market is divided into professional and managed services. Professional services held a major share of the smart waste collection technology market in 2023 and managed services are projected to register a higher CAGR in the future.

By end-user, the market includes manufacturing and industrial, food and retail, municipalities, construction, healthcare, and others. The municipality segment held the largest market share in 2023. The manufacturing and industrial segment is projected to grow notably in the global market in the years ahead.

Smart Waste Collection Technology Market: Report Scope

Smart Waste Collection Technology Market: Regional Analysis

The regional segment comprises the current and forecast demand for the Middle East and Africa, North America, Asia Pacific, Latin America, and Europe. North America accounted for the largest share of the smart waste collection technology market globally in the year 2023. This can be attributed to the region’s strong economy to build the necessary infrastructures, such as sensors, communication nodes, and electronic circuits. The Asia Pacific smart waste collection technology market is estimated to witness the fastest CAGR, owing to rapid urbanization and swift industrialization across the region.

Smart Waste Collection Technology Market: Competitive Players

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

• Bigbelly
• Ecube Labs
• Enevo Pepperl+Fuchs
• Covanta Holding
• Smartbin
• IBM
• Compology
• Waste Management
• SAP

The Global Smart Waste Collection Technology Market is segmented as follows:

Global Smart Waste Collection Technology Market: Service Analysis

• Managed Services
• Professional Services

Global Smart Waste Collection Technology Market: Solution Analysis

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

Global Smart Waste Collection Technology Market: End-User Analysis

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

Global Smart Waste Collection Technology Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa