Advancements in Digital Circular Economy Technologies Drive Market Growth

Global 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 uses various technologies to optimize resource use, minimize waste, and maximize value creation throughout product lifecycles. Key applications include blockchain, IoT, big data analytics, digital twins, circular economy platforms, supply chain management systems, and AR and VR technologies. Blockchain creates transparent records of transactions, IoT collects real-time data, big data analytics extracts insights for waste reduction, and digital twins simulate product lifecycles. Platforms facilitate the exchange, resale, and repurposing of products, while supply chain management systems optimize material flow. AR and VR technologies enhance product design, maintenance, and training processes, contributing to a more sustainable and circular economy. Furthermore, the market has seen significant growth primarily owing to increased focus on R&D by both public and private organizations and growing applications. 

Browse the full report description of “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)” at https://www.omrglobal.com/industry-reports/digital-circular-economy-market

Recent developments in the digital circular economy market

• In November 2023, Global launched the "Digitalization 4 Circular Economy" initiative, aiming to harness digital technologies for a circular economy. The initiative, in collaboration with UNEP and CODES, focuses on strengthening data transparency, scaling digital business models, and sustainable consumer choices.

• In October 2022, Braskem launched its new circular economy ecosystem, Wenew, which identified the company's polymers and chemical products with recycled content, educational initiatives on conscious consumption and proper disposal, and technologies supporting its journey towards the circular economy. Wenew was created to leverage the concept of the circular economy across the chemical and plastic production chain.

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

• Segment Covered- 

o By Offering

o By Technology

o By Application

o By Vertical

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape - Accenture PLC, Cisco Systems, Inc., Dell Technologies, Inc., IBM Corp., and SAP SE among others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Digital Circular Economy Market Report Segment

By Offering

• Software
• Services

By Technology

• Blockchain And Distributed Ledger Technology (DLT)
• Internet of Things (IoT)
• Artificial Intelligence (AI) & Machine Learning (ML)
• Augmented Reality (AR) and Virtual Reality (VR)
• VR-Based Training
• Cloud Computing
• Big Data Analytics
• Others (Robotic Process Automation (RPA))

By End-User

• Portfolio Optimization
• Conversational Platform
• Risk & Compliance
• Data Analysis
• Process Automation
• Others (Alternative Data Analysis, and Smart Data Management)

By Application

• 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
• Others (Product Lifecycle Management)

By Vertical

• Consumer Electronics
• IT & Telecom
• Automotive
• Manufacturing
• Construction And Building
• Building Demolition and Deconstruction
• Healthcare And Medical Devices
• Energy & Utilities
• Fashion & Apparel

Global Digital Circular Economy Market Report Segment by Region

North America

• United States

• Canada 

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

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