Digital Circular Economy Market
Digital Circular Economy Market Size, Share & Trends Analysis Report by Offering (Software, and Services), by Technology (Blockchain And Distributed Ledger Technology (DLT), IoT, AI & ML, AR and VR, VR-Based Training, Cloud Computing, Big Data Analytics, and Others) by Application (Supply Chain And Materials Tracking, Resource Optimization And Efficiency, Digital Resale And Reuse, Reverse Logistics And Remanufacturing, and Others), and by Vertical (Consumer Electronics, IT, Automotive, Manufacturing, Construction, Building Demolition and Deconstruction, Healthcare, Energy, and Fashion) Forecast Period (2024-2031)
Digital circular economy market is anticipated to grow at a CAGR of 24.1% during the forecast period (2024-2031). The global digital circular economy market is expanding owing to rising environmental awareness, rising adoption of digital technologies, favorable government regulations, and consumer demand for eco-friendly products and services.
Market Dynamics
Digital technology innovation and adoption
The global digital circular economy market relies on the adoption and innovation of digital technologies such as blockchain, IoT, and big data analytics for sustainability and circularity. The growing adoption of digital technologies globally is a key factor driving the global digital circular economy market.
In February 2023, INSEAD launched its inaugural Strategies for a Circular Economy – Online programme, delivered by Emeritus. The program, which focuses on circular sustainability strategy and roadmap implementation, consists of five modules delivered via online video lectures, accompanied by case studies, self-study activities, discussions, and live faculty sessions. Such developments are further aiding the global market growth.
Market demand and consumer preference
The growing demand for sustainable products necessitates companies to adopt responsible design and production practices, making digital circular economy solutions crucial for competitiveness and environmental sustainability. For instance, in November 2021, SAP launched SAP Responsible Design and Production, a software solution for sustainable product design and transitioning to a circular economy. The solution helps businesses increase measurement and data management capabilities, enabling brands to accelerate their transition to circular practices and comply with regulations, particularly in product packaging and plastics.
Market Segmentation
- Based on the offering, the market is segmented into software and services.
- Based on technology, the market is segmented into blockchain and distributed ledger technology (DLT), IoT, AI and ML, AR and VR, VR-based training, cloud computing, big data analytics, and others (robotic process automation (RPA)).
- Based on application, the market is segmented into supply chain and materials 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 & testing, and others (product lifecycle management).
- Based on vertical, the market is segmented into consumer electronics, IT & telecom, automotive, manufacturing, construction and building, building demolition and deconstruction, healthcare and medical devices, energy & utilities, and fashion & apparel.
Services is Projected to Emerge as the Largest Segment
The primary factor supporting the segment's growth includes regulatory pressures that promote businesses to adopt circular economy practices, with governments incentivizing waste reduction, recycling, and sustainable production processes globally. For instance, in December 2023, Circular Services acquired Midwest Fiber Recycling, expanding its materials recovery facilities under Balcones Recycling. The move expands Circular Services' Midwest recycling services, supporting existing infrastructure and increasing material recovery into domestic supply chains. The acquisition aligns with the US's increasing focus on zero-waste goals and climate risks.
IT & Telecom Sub-segment to Hold a Considerable Market Share
The demand for sustainable technology solutions is on the rise due to growing environmental concerns, particularly in the IT and telecom industries. For instance, in February 2024, Orange Business in France introduced a Circular Mobility solution, offering equipment, connectivity, financing, and Orange Reprise services, including sustainable mobile phones, leasing, and data plans, all AFNOR-certified.
Regional Outlook
The digital circular economy market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Rapid Urbanization In Asia-Pacific Region
India's rapid urbanization is necessitating the adoption of circular economy principles and digital technologies for efficient urban development. According to the India Brand Equity Foundation (IBEF), in May 2023, the circular economy promotes economic growth by promoting reuse, recycling, refurbishing, and remanufacturing, reducing dependency on finite resources, and encouraging responsible use. India, with a population of 1.3 billion, can benefit from this strategy, reducing congestion and pollution, and promoting sustainable development.
Digital Circular Economy Market Growth by Region 2024-2031
Europe Holds Major Market Share in Global Market
The EU promotes circular economy innovation and entrepreneurship by providing funding, mentorship, and support networks for digital startups and technology companies to develop and scale solutions. For instance, in April 2024, the EU established the EU Circular Economy Resource Centre and launched the SWITCH to Circular Economy in East and Southern Africa program, both aimed at accelerating the global transition towards a circular economy. During 2021-2023, the EU has dedicated approximately €1.6 billion ($1.7 billion) to more than 75 initiatives that contribute to supporting the transition to a circular economy at various levels - country, regional, and global. Moreover, in 2023 alone, more than 100 partner countries have received EU assistance to facilitate the adoption of circular practices in their economies.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the digital circular economy market include Accenture PLC, Cisco Systems, Inc., Dell Technologies, Inc., IBM Corp., and SAP SE among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market. For instance, in October 2022, Avataar Venture Partnered launched a $350.0 million fund focusing on the circular economy, a technology that mirrors the natural world's cycles, aiming to repurpose, recycle, repair, and remake, benefiting both companies and the environment.
The Report Covers-
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global digital circular economy market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Accenture PLC
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Cisco Systems, Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. IBM Corp.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Digital Circular Economy Market by Offering
4.1.1. Software
4.1.2. Services
4.2. Global Digital Circular Economy Market by Technology
4.2.1. Blockchain And Distributed Ledger Technology (DLT)
4.2.2. Internet of Things (IoT)
4.2.3. Artificial Intelligence (AI) & Machine Learning (ML)
4.2.4. Augmented Reality (AR) and Virtual Reality (VR)
4.2.5. VR-Based Training
4.2.6. Cloud Computing
4.2.7. Big Data Analytics
4.2.8. Others (Robotic Process Automation (RPA))
4.3. Global Digital Circular Economy Market by Application
4.3.1. Supply Chain And Materials Tracking
4.3.2. Resource Optimization And Efficiency
4.3.3. Digital Resale And Reuse
4.3.4. Reverse Logistics And Remanufacturing
4.3.5. Circular Economy Reporting And Compliance
4.3.6. Circular Waste Management And Recycling
4.3.7. Smart Material Selection & Testing
4.3.8. Others (Product Lifecycle Management)
4.4. Global Digital Circular Economy Market by Vertical
4.4.1. Consumer Electronics
4.4.2. IT & Telecom
4.4.3. Automotive
4.4.4. Manufacturing
4.4.5. Construction And Building
4.4.6. Building Demolition and Deconstruction
4.4.7. Healthcare And Medical Devices
4.4.8. Energy & Utilities
4.4.9. Fashion & Apparel
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East and Africa
6. Company Profiles
6.1. Amazon Web Services, Inc.
6.2. Anthesis Group Ltd.
6.3. Capgemini Services SAS
6.4. Dassault Systèmes S.E.
6.5. Dell Technologies, Inc.
6.6. geoFluxus
6.7. Hitachi, Ltd.
6.8. Honeywell International Inc.
6.9. Ingram Micro
6.10. KPMG International Ltd.
6.11. LENZING AG
6.12. One Click LCA Ltd.
6.13. Oracle Corp.
6.14. PricewaterhouseCoopers Pvt. Ltd.
6.15. SAP SE
6.16. Siemens AG.
6.17. Software AG
6.18. SUEZ SA
1. Global Digital Circular Economy Market Research And Analysis By Offering, 2023-2031 ($ Million)
2. Global Digital Circular Economy Software Market Research And Analysis By Region, 2023-2031 ($ Million)
3. Global Digital Circular Economy Services Market Research And Analysis By Region, 2023-2031 ($ Million)
4. Global Digital Circular Economy Market Research And Analysis By Technology 2023-2031 ($ Million)
5. Global Blockchain And Distributed Ledger For Digital Circular Economy Market Research And Analysis By Region, 2023-2031 ($ Million)
6. Global Internet Of Things For Digital Circular Economy Market Research And Analysis By Region, 2023-2031 ($ Million)
7. Global Artificial Intelligence (AI) & Machine Learning (ML) For Digital Circular Economy Market Research And Analysis By Region, 2023-2031 ($ Million)
8. Global Augmented Reality (AR) And Virtual Reality (VR) For Digital Circular Economy Market Research And Analysis By Region, 2023-2031 ($ Million)
9. Global VR-Based Training For Digital Circular Economy Market Research And Analysis By Region, 2023-2031 ($ Million)
10. Global Cloud Computing For Digital Circular Economy Market Research And Analysis By Region, 2023-2031 ($ Million)
11. Global Big Data Analytics For Digital Circular Economy Market Research And Analysis By Region, 2023-2031 ($ Million)
12. Global Other Technologies For Digital Circular Economy Market Research And Analysis By Region, 2023-2031 ($ Million)
13. Global Digital Circular Economy Market Research And Analysis By Application, 2023-2031 ($ Million)
14. Global Digital Circular Economy For Supply Chain And Materials Tracking Market Research And Analysis By Region, 2023-2031 ($ Million)
15. Global Digital Circular Economy For Resource Optimization And Efficiency Market Research And Analysis By Region, 2023-2031 ($ Million)
16. Global Digital Circular Economy For Digital Resale And Reuse Market Research And Analysis By Region, 2023-2031 ($ Million)
17. Global Digital Circular Economy For Reverse Logistics And Remanufacturing Market Research And Analysis By Region, 2023-2031 ($ Million)
18. Global Digital Circular Economy For Circular Economy Reporting And Compliance Market Research And Analysis By Region, 2023-2031 ($ Million)
19. Global Digital Circular Economy For Circular Waste Management And Recycling Market Research And Analysis By Region, 2023-2031 ($ Million)
20. Global Digital Circular Economy For Smart Material Selection & Testing Market Research And Analysis By Region, 2023-2031 ($ Million)
21. Global Digital Circular Economy For Other Application Market Research And Analysis By Region, 2023-2031 ($ Million)
22. Global Digital Circular Economy Market Research And Analysis By Vertical, 2023-2031 ($ Million)
23. Global Digital Circular Economy For Consumer Electronics Market Research And Analysis By Region, 2023-2031 ($ Million)
24. Global Digital Circular Economy For It & Telecom Market Research And Analysis By Region, 2023-2031 ($ Million)
25. Global Digital Circular Economy For Automotive Market Research And Analysis By Region, 2023-2031 ($ Million)
26. Global Digital Circular Economy For Manufacturing Market Research And Analysis By Region, 2023-2031 ($ Million)
27. Global Digital Circular Economy For Construction And Building Market Research And Analysis By Region, 2023-2031 ($ Million)
28. Global Digital Circular Economy For Building Demolition And Deconstruction Market Research And Analysis By Region, 2023-2031 ($ Million)
29. Global Digital Circular Economy For Healthcare And Medical Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
30. Global Digital Circular Economy For Energy & Utilities Market Research And Analysis By Region, 2023-2031 ($ Million)
31. Global Digital Circular Economy For Fashion & Apparel Market Research And Analysis By Region, 2023-2031 ($ Million)
32. Global Digital Circular Economy Market Research And Analysis By Region, 2023-2031 ($ Million)
33. North American Digital Circular Economy Market Research And Analysis By Country, 2023-2031 ($ Million)
34. North American Digital Circular Economy Market Research And Analysis By Offering, 2023-2031 ($ Million)
35. North American Digital Circular Economy Market Research And Analysis By Technology, 2023-2031 ($ Million)
36. North American Digital Circular Economy Market Research And Analysis By Application, 2023-2031 ($ Million)
37. North American Digital Circular Economy Market Research And Analysis By Vertical, 2023-2031 ($ Million)
38. European Digital Circular Economy Market Research And Analysis By Country, 2023-2031 ($ Million)
39. European Digital Circular Economy Market Research And Analysis By Offering, 2023-2031 ($ Million)
40. European Digital Circular Economy Market Research And Analysis By Technology, 2023-2031 ($ Million)
41. European Digital Circular Economy Market Research And Analysis By Application, 2023-2031 ($ Million)
42. European Digital Circular Economy Market Research And Analysis By Vertical, 2023-2031 ($ Million)
43. Asia-Pacific Digital Circular Economy Market Research And Analysis By Country, 2023-2031 ($ Million)
44. Asia-Pacific Digital Circular Economy Market Research And Analysis By Offering, 2023-2031 ($ Million)
45. Asia-Pacific Digital Circular Economy Market Research And Analysis By Technology, 2023-2031 ($ Million)
46. Asia-Pacific Digital Circular Economy Market Research And Analysis By Application, 2023-2031 ($ Million)
47. Asia-Pacific Digital Circular Economy Market Research And Analysis By Vertical, 2023-2031 ($ Million)
48. Rest Of The World Digital Circular Economy Market Research And Analysis By Region, 2023-2031 ($ Million)
49. Rest Of The World Digital Circular Economy Market Research And Analysis By Offering, 2023-2031 ($ Million)
50. Rest Of The World Digital Circular Economy Market Research And Analysis By Technology, 2023-2031 ($ Million)
51. Rest Of The World Digital Circular Economy Market Research And Analysis By Application, 2023-2031 ($ Million)
52. Rest Of The World Digital Circular Economy Market Research And Analysis By Vertical, 2023-2031 ($ Million)
1. Global Digital Circular Economy Market Share By Offering, 2023 Vs 2031 (%)
2. Global Digital Circular Economy Software Market Share By Region, 2023 Vs 2031 (%)
3. Global Digital Circular Economy Services Market Share By Region, 2023 Vs 2031 (%)
4. Global Digital Circular Economy Market Share By Technology, 2023 Vs 2031 (%)
5. Global Blockchain And Distributed Ledger Technology For Digital Circular Economy Market Share By Region, 2023 Vs 2031 (%)
6. Global Internet Of Things For Digital Circular Economy Market Share By Region, 2023 Vs 2031 (%)
7. Global Artificial Intelligence (AI) & Machine Learning (ML) For Digital Circular Economy Market Share By Region, 2023 Vs 2031 (%)
8. Global Internet Of Things For Digital Circular Economy Market Share By Region, 2023 Vs 2031 (%)
9. Global Augmented Reality (AR) And Virtual Reality (VV) For Digital Circular Economy Market Share By Region, 2023 Vs 2031 (%)
10. Global VR-Based Training For Digital Circular Economy Market Share By Region, 2023 Vs 2031 (%)
11. Global Cloud Computing For Digital Circular Economy Market Share By Region, 2023 Vs 2031 (%)
12. Global Internet Of Things For Digital Circular Economy Market Share By Region, 2023 Vs 2031 (%)
13. Global Big Data Analytics For Digital Circular Economy Market Share By Region, 2023 Vs 2031 (%)
14. Global Other Technologies For Digital Circular Economy Market Share By Region, 2023 Vs 2031 (%)
15. Global Digital Circular Economy Market Share By Application, 2023 Vs 2031 (%)
16. Global Digital Circular Economy For Supply Chain And Materials Tracking Market Share By Region, 2023 Vs 2031 (%)
17. Global Digital Circular Economy For Resource Optimization And Efficiency Market Share By Region, 2023 Vs 2031 (%)
18. Global Digital Circular Economy For Digital Resale And Reuse Market Share By Region, 2023 Vs 2031 (%)
19. Global Digital Circular Economy For Reverse Logistics And Remanufacturing Market Share By Region, 2023 Vs 2031 (%)
20. Global Digital Circular Economy For Circular Economy Reporting And Compliance Market Share By Region, 2023 Vs 2031 (%)
21. Global Digital Circular Economy For Circular Waste Management And Recycling Market Share By Region, 2023 Vs 2031 (%)
22. Global Digital Circular Economy For Smart Material Selection & Testing Market Share By Region, 2023 Vs 2031 (%)
23. Global Digital Circular Economy For Other Application Market Share By Region, 2023 Vs 2031 (%)
24. Global Digital Circular Economy Market Share By Vertical, 2023 Vs 2031 (%)
25. Global Digital Circular Economy For Consumer Electronics Market Share By Region, 2023 Vs 2031 (%)
26. Global Digital Circular Economy For It & Telecom Market Share By Region, 2023 Vs 2031 (%)
27. Global Digital Circular Economy For Automotive Market Share By Region, 2023 Vs 2031 (%)
28. Global Digital Circular Economy For Manufacturing Market Share By Region, 2023 Vs 2031 (%)
29. Global Digital Circular Economy For Construction And Building Market Share By Region, 2023 Vs 2031 (%)
30. Global Digital Circular Economy For Building Demolition And Deconstruction Market Share By Region, 2023 Vs 2031 (%)
31. Global Digital Circular Economy For Healthcare And Medical Devices Market Share By Region, 2023 Vs 2031 (%)
32. Global Digital Circular Economy For Energy & Utilities Market Share By Region, 2023 Vs 2031 (%)
33. Global Digital Circular Economy For Fashion & Apparel Market Share By Region, 2023 Vs 2031 (%)
34. Global Digital Circular Economy Market Share By Region, 2023 Vs 2031 (%)
35. US Digital Circular Economy Market Size, 2023-2031 ($ Million)
36. Canada Digital Circular Economy Market Size, 2023-2031 ($ Million)
37. UK Digital Circular Economy Market Size, 2023-2031 ($ Million)
38. France Digital Circular Economy Market Size, 2023-2031 ($ Million)
39. Germany Digital Circular Economy Market Size, 2023-2031 ($ Million)
40. Italy Digital Circular Economy Market Size, 2023-2031 ($ Million)
41. Spain Digital Circular Economy Market Size, 2023-2031 ($ Million)
42. Rest Of Europe Digital Circular Economy Market Size, 2023-2031 ($ Million)
43. India Digital Circular Economy Market Size, 2023-2031 ($ Million)
44. China Digital Circular Economy Market Size, 2023-2031 ($ Million)
45. Japan Digital Circular Economy Market Size, 2023-2031 ($ Million)
46. South Korea Digital Circular Economy Market Size, 2023-2031 ($ Million)
47. Rest Of Asia-Pacific Digital Circular Economy Market Size, 2023-2031 ($ Million)
48. Latin America Digital Circular Economy Market Size, 2023-2031 ($ Million)
49. Middle East And Africa Digital Circular Economy Market Size, 2023-2031 ($ Million)
