Smart Waste Management Industry Set for 15.6% CAGR Growth, Valuing $8.3 Billion by 2032
Smart Waste Management Industry Set for 15.6% CAGR Growth, Valuing $8.3 Billion by 2032
WILMINGTON, DE, UNITED STATES, September 16, 2025 /EINPresswire.com/ -- According to the report, the global smart waste management market was valued at $2.2 billion in 2023 and is projected to reach $8.3 billion by 2032, growing at a CAGR of 15.6% from 2024 to 2032.Download Sample Copy: https://www.alliedmarketresearch.com/request-sample/A08740
Key Factors Driving Growth
The market expansion is fueled by rapid urbanization and rising waste volumes, pushing cities to adopt more efficient and sustainable management systems. The integration of IoT technologies enables real-time monitoring, route optimization, and cost savings. Additionally, the global shift toward sustainability and circular economy practices is encouraging municipalities and businesses to invest in advanced waste solutions.
Emerging technologies like AI and data analytics are improving waste sorting, resource utilization, and decision-making. Moreover, supportive government regulations and incentives aimed at reducing carbon emissions and landfill dependency further create growth opportunities.
Segment Insights
- Solid Waste Segment (2023 Leader):
Solid waste dominated the market in 2023, with IoT-enabled bins and AI-powered automation improving collection efficiency and recycling rates. For example, FairPrice Group’s BINgo pilot project in Singapore leverages AI and smart sensors to address recycling challenges.
- Smart Collection Segment (2023 Leader):
Traditional collection methods are being replaced by IoT-enabled smart collection systems that optimize schedules, minimize fuel use, and cut operational costs. The emphasis on reducing carbon footprints is further driving adoption.
- Residential Segment (2023 Leader):
With booming residential construction and population growth, household waste is increasing significantly. For instance, India’s property market saw a record $42 billion in sales in FY23, highlighting the rising need for efficient residential waste solutions.
- Hardware Segment (2023 Leader):
Smart bins and vehicles embedded with advanced sensors accounted for the largest share in 2023. These solutions provide real-time data, improving efficiency while lowering operational expenses.
Regional Insights
North America held the dominant share in 2023, driven by smart city initiatives across the U.S. and Canada. The adoption of IoT and cloud-based smart bins, combined with heightened awareness around sustainability, continues to strengthen the region’s market position.
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Competitive Landscape
Key players shaping the market include:
Ecube Labs Co. Ltd.
Veolia Environnement S.A.
Waste Management Inc.
Bigbelly, Inc.
Bine Sp. z o.o.
SAP SE
SUEZ Environmental Services
Sensoneo j.s.a.
Rubicon Technologies, Inc.
Enevo, Inc.
These companies focus on partnerships, product innovations, expansions, and joint ventures to strengthen their market presence.
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Recent Developments
June 2024: Bigbelly launched new manufacturing operations in the U.S. to expand its smart waste solutions portfolio and reduce production lead times.
March 2023: Rubicon Technologies expanded adoption of its smart fleet technology across 11 additional U.S. cities, improving municipal waste collection efficiency.
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