Smart Waste Management Market to be Worth $12.6 Billion by 2031

Smart Waste Management Market by Offering (Solutions, Services), Function (Smart Collection, Processing, Disposal), Application (Residential & Municipality, Industrial, Commercial, Construction & Demolition), and Geography – Global Forecast to 2031

The Smart Waste Management Market to reach $12.6 billion by 2031 at a CAGR of 17.3% during 2024–2031. The growth of the smart waste management market is driven by the growing adoption of smart bins, the rising integration of IoT, and the increasing concern over the environmental impact of waste management. However, the high cost of connected network infrastructure in developing nations restrain the growth of this market. Moreover, the growing adoption of smart city initiatives across the globe and the use of technological advancements in waste management devices are expected to generate market growth opportunities. However, the non-uniform waste distribution in bins is a major challenge for market stakeholders. Additionally, the growing adoption of data analytics and machine learning in waste management are prominent trends in this market.