The global smart waste management market size was US$ 1,525.6 million in 2021. The global smart waste management market is forecast to grow to US$ 4,993.5 million by 2030 by growing at a compound annual growth rate (CAGR) of 14.1% during the forecast period from 2022 to 2030.

Smart waste management uses sensors to track the live status of the place remotely. It also helps observe the historical data gathered by sensors and databases.

Factors Influencing the Market

The convenience of smart waste management practices will fuel the growth of the smart waste management market. In addition, the IoT-enabled services offer high accuracy at a low cost. It also reduces the cost of labor. Thus, all of these factors will contribute to the growth of the smart waste management market.

Stringent government regulations for waste management will also benefit the smart waste management market. In addition, growing technological innovations such as IoT and cloud-based smart waste bins will gain significant traction in the coming years.

Growing awareness among the general public about the hazardous health effects of waste will also surge the growth of the smart waste management market.

Growing urbanization will contribute to the growth of the smart waste management market. In addition, growing industrialization and increasing industrial waste will upsurge the demand for smart waste management services, thereby boosting the growth of the market.

Lack of efficient connectivity may limit the growth of the smart waste management market. On the contrary, growing technological advancements will escalate the growth of the smart waste management market.

Regional Analysis

The Asia-Pacific smart waste management market is forecast to grow at the highest growth rate. It is due to growing urbanization and industrialization across the region. In addition, the growing urban population and improvements in infrastructure will drive the waste management market forward.

Growing concerns over the environment and favorable initiatives by government bodies will also benefit the smart waste management market.

COVID-19 Impact Analysis

The wake of the COVID-19 pandemic upsurged the demand for smart solutions. However, the rapidly growing urbanization took a slow pace due to stringent regulations imposed by government bodies. Furthermore, the wake of the pandemic hampered manufacturing activities, which ultimately affected the development of smart waste management solutions. The terror of the infection also caused a labor shortage in various areas. Thus, all these factors have negatively impacted the global smart waste management market.

Competitors in the Market

Covanta Holding Corporation
SUEZ Environmental Services
Republic Services Inc
Waste Management Inc
Sensoneo J.s.a.
Bigbelly Inc
Urbiotica
Ecube Labs Co Ltd
Enevo Oy
Other Prominent Players
Market Segmentation

The global smart waste management market segmentation focuses on Component, Waste, Method, Application, and Region.

By Component Outlook

Fleet Management
Remote Monitoring
Data Analytics & Advanced Reporting
Network Management
Asset Management
Services
Professional Services
Managed Services
By Waste Type Outlook

Solid Waste
Special Waste
E-Waste
By Method Outlook

Smart Collection
Smart Processing
Smart Disposal
Smart Energy Recovery
By Application Outlook

Residential
Commercial
Industrial
By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America