Smart Waste and Recycling System Market: Industry Analysis and Forecast (2022-2029)

Smart Waste and Recycling System Market size is expected to reach nearly US $ 12.94 Bn by 2029 with the CAGR of 25.68% during the forecast period.

The global Smart Waste and Recycling System market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Smart Waste and Recycling System report also provides trends by market segments, technology, and investment with a competitive landscape.

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Smart Waste and Recycling System Market Overview:
A sensor-integrated garbage and recycling station with the functionality to communicate real-time status with a collection crew is known as a smart waste and recycling system. The station is linked to a web or cloud-based platform that provides waste management companies with real-time data.

In addition, the adoption of smart bins, which are fitted with sensors to detect and minimize overflow and so serve to improve the waste management system's operating efficiency, has increased the global demand for smart garbage and recycling systems.
Smart Waste and Recycling System Market Dynamics:
Urbanization is taking severe proportions as a result of rising population density and rural flight to cities, posing a massive waste generation problem in cities. Increased trash output has long been regarded as a serious concern for large metropolitan centers around the world, and it is a vital issue for countries experiencing rapid urbanization. The Internet of Things (IoT) and cloud computing offer the option of automating solid waste management using cyberphysical systems.

Smart cities are becoming increasingly popular as a platform for deploying smart waste management systems. By 2050, more than 70-75% of the world's population is expected to be living in cities, and worldwide waste creation is predicted to increase by about 50 % in the next decade. The increased investment by governments around the world in the construction of smart cities has given a significant growth potential for the smart waste and recycling system market.
IoT Technology:
Most of the IoT technology initiatives are in the fields of smart cities and industrial IoT. Linked buildings, connected automobiles, and energy segments all have great promise, but they are less than the first-mentioned fields. The most rapidly growing trend in the number of IoT projects is currently in the smart cities, linked health, and smart supply chain categories, as projected, with yearly increases of over 30% in the EU and the US. In the USA and EU, the number of completed projects in the industrial IoT, connected autos, and agriculture categories have decreased by over 25%.
Smart Waste and Recycling System Market Segment Analysis:
Depending upon the application, the smart waste and recycling system market is segmented into residential and commercial. Due to the widespread implementation of touch-free rubbish bins in clinics, corporate offices, hospitals, hotels, restaurants, retail stores, and other public areas such as malls, airports, bus & metro stations, multiplexes, and bathrooms, the commercial segment is likely to account for the biggest market share in smart waste and recycling systems. Furthermore, due to increased knowledge or popularity of automatic trash bins, demand for touch-free garbage bins from the residential sector is expected to rise in the coming years.

Municipalities in each country treat residential trash in a variety of ways. Municipalities' excellent garbage disposal/recycling networks are a key barrier to private enterprises entering the residential and commercial sectors. Companies, on the other hand, recycle the trash generated by these industries through public-private partnerships.

Some of the primary factors driving demand for waste recycling services in industrial applications around the world are rising investments in various industries and rigorous rules governing discharges from these industries. In addition, over the projection period, rising demand for agro-based products and organic foods is predicted to boost product demand.
Decentralizing waste management: Startup
Waste collection and processing are more efficient with decentralized approaches. Changing residential and business attitudes toward trash segregation create new, long-term opportunities for more efficient waste solutions in general. Following are some of the accomplishments of waste management startups:

• Offering trustworthy and transparent paid waste collection alternatives; digitizing home garbage and recycling pickup;

• integrating informal waste collectors into the formal sector and leveraging their existing networks

• Refurbishing e-waste and reselling it at a lower price point;

• Assisting with garbage audits; and

• Developing digital networks for the collection of biodegradable and reusable materials.
Benefits offered by Smart Bins:
Smart waste management, which includes the use of smart garbage containers, is projected to increase waste collection, transportation, and recycling efficiency. Sensor-enabled bins can reduce the number of trips hauliers need to make by communicating the level of waste in them, saving expenses and greenhouse gas emissions.
Smart Waste and Recycling System Market Regional Insights:
During the forecast period, the smart trash and recycling system market in the Asia Pacific is predicted to grow at the fastest rate. India, China, Japan, and Australia are some of the major countries in this region that are driving the smart waste and recycling system market. The need for smart trash and recycling systems has been driven by the development of vast municipal solid waste as a result of the high population and increasing environmental considerations.

According to a 2021 Planning Commission report, urban India creates XX million tonnes of trash (MSW) each year. It is also expected that by 2030, the volume is expected to rise to 165 million tonnes.
Waste management planning with information and communications technology (ICT) system:
Real-time monitoring of collection and transportation is ensured by a sophisticated, integrated waste management system. Ground-level mechanisms for garbage collection, efficient processing, and recycling can be improved and smoothed using technologies such as global positioning system, radio frequency identification, global system for mobile communications, machine-to-machine communication, and internet of things, as well as revolutionary mobile and web-based apps.

Bins and vehicle movement can be monitored in real-time, and the route optimized for effective waste collection and delivery. Also, by linking to the central ERP system for seamless communication between the head office and collection vehicles or bins, ICT can assist in discovering flaws in the overall system.

The objective of the report is to present a comprehensive analysis of the Global Smart Waste and Recycling System Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

Porter, svor, pestel analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Smart Waste and Recycling System Market dynamics, structure by analyzing the market segments and project the global Smart Waste and Recycling System market size. Clear representation of competitive analysis of key players By Application, price, financial position, product portfolio, growth strategies, and regional presence in the Global Smart Waste and Recycling System Market make the report investor’s guide.
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Smart Waste and Recycling System Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 2.07 Bn.


Forecast Period 2022 to 2029 CAGR:
25.68%
Market Size in 2029:
US $ 12.94 Bn.


 Segments Covered:
by Type
• Smart Bins
• Smart Trolleys
• Smart Compactors


by Component
• Hardware
• Software


by Application
• Residential
• Commercial
• Industrial


by Service
• Professional Services
• Managed Services



Smart Waste and Recycling System Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Smart Waste and Recycling System Market Key Players are:
• Bigbelly, Inc.
• Ausko Pte Ltd.
• SmartBin
• Enevo
• Ecube Labs Co., Ltd.
• Eurokey Recycling, Ltd.
• Northstar Recycling
• Triple M Metal LP
• Epson, Inc.
• Collins & Aikman
• Xerox Corp.
• Hewlett-Packard
• Fetzer Vineyards
• Interface, Inc.
• Battery Council International (USA)
• Amdahl Corporation
• Rubicon Global
• Zanker Road Landfill

Frequently Asked Questions:

1. What is the growth rate of Global Smart Waste and Recycling System Market?
Ans: The Global Smart Waste and Recycling System Market is growing at a CAGR of 25.68 % during forecasting period 2022-2029.

2. What is scope of the Global Smart Waste and Recycling System market report?
Ans: Global Smart Waste and Recycling System Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

3. Who are the key players in Global Smart Waste and Recycling System market?
Ans: The important key players in the Global Smart Waste and Recycling System Market are – Bigbelly, Inc., Ausko Pte Ltd., SmartBin, Enevo, Ecube Labs Co., Ltd., Eurokey Recycling, Ltd., Northstar Recycling, Triple M Metal LP, Epson, Inc, Collins & Aikman, Xerox Corp., Hewlett-Packard, Fetzer Vineyards, Interface, Inc., Battery Council International (USA), Amdahl Corporation, Rubicon Global, Zanker Road Landfill, and Other Key Players

4. What is the study period of this market?
Ans: The Global Smart Waste and Recycling System Market is studied from 2021 to 2029.