What is the present valuation and projected CAGR of the digital circular economy market?
The digital circular economy market size has grown exponentially in recent years. It will grow from $2.9 $ billion in 2024 to $3.72 $ billion in 2025 at a compound annual growth rate (CAGR) of 28.2%. The growth in the historic period can be attributed to increase in consumer demand for transparency, growth in availability of green finance, increase in demand for sustainable packaging solutions, growth in corporate demand for metrics, and increase in emphasis on circular design principles.
The digital circular economy market size is expected to see exponential growth in the next few years. It will grow to $9.99 $ billion in 2029 at a compound annual growth rate (CAGR) of 28.0%. The growth in the forecast period can be attributed to cost reduction, shift towards circular supply chains, rising investments in startups, growing emphasis on resource efficiency, and expansion of the sharing economy. Major trends in the forecast period include integration of AI and IoT technologies, development of digital twins, advancement in predictive maintenance, smart grid technologies, and robotics technologies.
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What key drivers have fueled the digital circular economy market’s development over the years?
The surge in e-waste awareness is expected to propel the growth of the digital circular economy market going forward. E-waste refers to discarded electrical or electronic devices, such as computers, smartphones, and appliances, that are no longer in use or have reached the end of their lifecycle. The awareness of e-waste regarding is growing due to environmental concerns and increased public education efforts highlighting the harmful effects of improper electronic waste disposal. The digital circular economy aims to mitigate e-waste by promoting the repair, reuse, and recycling of electronics, thereby minimizing waste and conserving resources. For instance, in March 2024, according to the Global E-Waste Monitor 2024 from the United Nations Institute for Training and Research, a Switzerland-based United Nations agency, the report emphasizes that if countries could raise their e-waste collection and recycling rates to 60% by 2030, the resulting benefits—such as reducing human health risks—would surpass costs by over US $38 billion. Therefore, the surge in E-waste awareness is driving the growth of the digital circular economy market.
What is the segmentation for the digital circular economy market?
The digital circular economymarket covered in this report is segmented –
1) By Offering: Software, Services
2) By Technology: Blockchain And Distributed Ledger Technology, Internet Of Things (IoT), Artificial Intelligence (AI) And Machine Learning (ML), Virtual Reality (VR) And Augmented Reality (AR), Virtual Reality (VR)-Based Training, Cloud Computing, Other Technologies
3) By Application: Supply Chain And Material Tracking, Resource Optimization And Efficiency, Digital Resale And Reuse, Reverse Logistics And Remanufacturing, Circular Economy Reporting And Compliance, Circular Waste Management And Recycling, Smart Material Selection And Testing, Other Applications
4) By End User: Consumer Electronics, Information Technology (IT) And Telecom, Automotive, Manufacturing, Construction And Building, Other End Users
Subsegments:
1) By Software: Circular Economy Management Platforms, Resource Tracking Software, Waste Management and Recycling Software, Product Lifecycle Management (PLM) Tools
2) By Services: Consulting Services, Implementation Services, Data Analytics and Reporting Services, Maintenance and Support Services
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Who are the most influential companies in the digital circular economy market?
Major companies operating in the digital circular economy market are Apple Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Technologies Inc., Bosch GmbH, Hitachi Ltd., Siemens AG, Sony Group Corporation, Lenovo Group Limited, General Electric Company, International Business Machines Corporation, Panasonic Holdings Corporation, LG Corporation, Cisco Systems Inc., Oracle Corporation, Schneider Electric SE, Honeywell International Inc., Fujitsu Limited, SAP SE, Mitsubishi Electric Corporation, ABB Ltd., Hewlett Packard Enterprise Company, Nokia Corporation, Capgemini SE, Koninklijke Philips N.V., STMicroelectronics NV, Infineon Technologies AG
What are the top industry trends projected to impact the digital circular economy market?
Major companies operating in the digital circular economy market are adopting a strategic partnership approach to accelerate the transition to a circular economy. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in June 2023, SAP SE, a Germany-based software company, partnered with Versuni, the Netherlands-based company that designs and sells domestic appliances to focus on sustainability and a circular economy. With the SAP sustainability control tower software, a digital tool for ESG management based on real-time data, the company will be able to promote holistic management by setting goals, monitoring progress, and gaining insights from data, generating robust and auditable ESG reports, as well as improvement actions.
What are the major regional insights for the digital circular economy market, and which region holds the top position?
Europe was the largest region in the digital circular economy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital circular economy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Digital Circular Economy Market Report 2025 Offer?
The digital circular economy market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Digital circular economy refers to an economic model that integrates digital technologies to enhance resource efficiency, minimize waste, and promote the reuse and recycling of products. It builds on the principles of a circular economy, where resource use is minimized through reduction and refusal, and material value is maximized through reuse and recycling. The digital circular economy focuses on reducing the amount of electronic waste (e-waste) generated by encouraging product repair, reuse, and recycling, preventing harmful disposal practices and conserving natural resources.
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