That represents a compound annual growth rate (CAGR) of over 30 percent.
These wirelessly connected fill-level sensors can either be pre-integrated into waste bins and containers or retrofitted into existing ones.
At present, Europe accounts for more than 50 percent of the installed base. Markets such as the Benelux, France, the UK, Spain and the Nordics have seen particularly positive market developments. The smart waste management market in North America is less developed in comparison to the European market and had an installed base of 85,000 smart waste sensors in 2018. The Rest of World market will have the highest growth of 36.5 percent and reach nearly half a million installed sensors by 2023.
The world’s leading smart waste sensor technology vendor in Q3-2019 was the US-based smart bin provider Bigbelly, which had a global market share of 13.3 percent. Finnish Enevo and Chinese Dingtek Technology shared second place. Enevo is a leading player in Europe and North America while Dingtek has a strong position on its domestic market.