The Smart Waste Management Market was valued at USD 1.78 billion in 2020 and is expected to reach USD 6.53 billion by 2026, registering a CAGR of 25.67%, during the forecast period of 2021-2026. According to the World Bank, across the globe, about 1.3 billion metric ton of waste is generated every year and is expected to reach 2.3 billion, by 2020. This increase can be attributed to the rapid urbanization and industrialization, across regions. High capital investments and lack of efficient connectivity are anticipated to hinder growth of the smart waste management market. Growth in technological advancements such as the Internet of Things to collect waste and growth in adoption in developing countries are projected to provide lucrative opportunities for the market players during the forecast period.
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