The North America Smart Waste Management Market would witness market growth of 14.7% CAGR during the forecast period (2024-2031).
The US market dominated the North America Smart Waste Management Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,590.8 million by 2031. The Canada market is experiencing a CAGR of 17.2% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 16.1% during (2024 - 2031).
The burgeoning urbanization and rapid technological advancements of the 21st century have given rise to numerous challenges and opportunities, particularly in waste management. As cities expand and populations grow, the volume of waste generated escalates unprecedentedly. Traditional waste management systems, characterized by their manual and often inefficient processes, are increasingly becoming inadequate to address the complexities of modern waste disposal and recycling needs.
Efficient waste management is crucial in these urban settings to mitigate the adverse effects of waste accumulation. Smart waste management solutions, such as sensor-enabled bins, automated collection systems, and data-driven route optimization, are being increasingly adopted to address these challenges. These technologies help reduce the operational costs associated with waste collection and disposal, improving the overall efficiency of the waste management process.
The legal framework for waste management in Mexico is established by the General Law for the Prevention and Integral Management of Wastes (LGPGIR), which promotes the safe disposal of hazardous waste, recycling, and waste reduction. The National Program for the Prevention and Comprehensive Management of Waste (PNPGIR) also sets specific targets for reducing waste generation and increasing recycling rates.
According to the National Institute of Statistics and Geography (INEGI), Mexico generated approximately 44 million tons of municipal solid waste in 2018. Municipalities like Mexico City have implemented initiatives to promote smart technologies in waste management. For example, the city has introduced IoT-enabled waste bins and GPS-equipped waste collection vehicles to optimize waste collection routes and improve operational efficiency. Hence, the immense support from the government is driving the region’s demand for smart waste management.
Free Valuable Insights: The Smart Waste Management Market is Predict to reach USD 6.5 Billion by 2031, at a CAGR of 15.3%
Based on Source, the market is segmented into Residential, Industrial, and Commercial. Based on Method, the market is segmented into Smart Collection, Smart Processing and Smart Disposal. Based on Waste Type, the market is segmented into Solid Waste, E-Waste, and Special Waste. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Source
By Method
By Waste Type
By Country
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