By the year 2029, the global smart garbage collection market is expected to be worth $5.5 billion. Smart garbage collection is expected to grow at a CAGR of 8% between 2022 and 2029 in terms of revenue. This increase can be ascribed to governments encouraging the use of IoT technology for smart garbage collection in smart cities, which has spurred the global market for smart waste collection. North America is expected to lead the smart garbage collection market, followed by Europe and Asia Pacific, over the forecast period.
Adopting IoT Technology in Smart Cities for Waste Collection is a Government Trend.
IoT has revolutionised and addressed the operating expenses of smart garbage collection systems and their administration in smart cities around the world, thanks to rising government initiatives, tight laws, and large-scale expenditures. As IoT technology becomes more widely adopted, it has a favourable effect on the global smart trash collection market. IoT technology connects various smart sensors and devices to monitor and automate city waste management activities.