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Modular Construction Market worth $140.8 billion by 2029 – Exclusive Report by MarketsandMarkets™

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The report “Modular Construction Market by Type (Permanent, Relocatable), Module, Material (Wood, Steel, Concrete), End-Use Industry (Residential, Office, Education, Retail & Commercial, Hospitality, Healthcare), Region – Global Forecast to 2029″, The global modular construction market size is projected to grow from USD 104.1 billion in 2024 to USD 140.8 billion by 2029, at a CAGR of 6.2% during the forecast period.
The modular construction market is growing rapidly due to urbanization, population growth, and the need for faster, more efficient building methods. Technological advancements have enhanced the quality and customization options of modular buildings, making them increasingly popular. Additionally, the focus on sustainability drives the adoption of modular construction, which generates less waste and requires fewer resources compared to traditional methods. However, factors such as lack of awareness and volatility in transportation charges may stall the growth of the market.
Browse in-depth TOC on “Modular Construction Market”
258 – Tables56 – Figures285 – Pages
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Permanent modular building is estimated to dominate the market
The modular construction market is categorized as permanent and relocatable. Permanent modular buildings are reported as having the largest market share in the modular construction market. Permanent modular construction saves time and labor, thus lowering the construction cost.
Steel is projected to be the fastest growing segment in the modular construction market
Steel is the fastest-rising segment for the modular construction market from 2024 to 2029, in terms of value. This is because of the increasing use of steel in construction activities. Steel is also lighter in contrast to other materials, which makes it easy to be craned and transported into a place in a more efficient manner, resulting in less disturbance to the local area.
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The residential segment is expected to dominate the modular construction market.
Residential building structures can be built using modular construction solutions in about half the time as compared to conventional site-built construction methods. Different countries are turning to the adoption of modular construction methods as the modular construction helps in waste reduction during the construction process as the different modules are made in-factory. The residential end-use industry reported the most substantial demand for modular construction in 2023, in terms of value and volume.
Asia Pacific is the largest market for modular construction.
The Asia-Pacific (APAC) region emerges as the largest market in the modular construction industry among APAC, North America, Europe, the Middle East & Africa (MEA), and South America, primarily due to several key factors. Construction, one of the biggest and most valuable manufacturing sectors in the region, is highly fragmented and consists of a considerable number of large, medium-sized, and small construction companies. The construction players in the industry have adopted various technologies as a strategy to sustain the growing demand and competition. Rapid urbanization, industrialization, and expanding middle-class populations in countries like China, India, and Southeast Asian nations contribute significantly to the region’s dominance in the market. Furthermore, increasing urbanization has led to changes in lifestyle and consumption patterns, driving the need for independent housing units.
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Market Players
The key players operating in the modular construction market are Laing O’Rourke (UK), Red Sea Housing (Saudi Arabia), Atco Ltd. (Canada), Skanska AB (Sweden), Modulaire Group (UK), Bechtel Corporation (US), Fluor Corporation (US), Lendlease Corporation (Australia), Kleusberg GmbH (Germany) and others. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the modular construction market.
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Smart Waste Management Market to Reach $8.3 billion by 2032 at 15.6% CAGR: Allied Market Research

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Allied Market Research published a report, titled, “Smart Waste Management Market Size, Share, Competitive Landscape and Trend Analysis Report by Waste Type (Solid, Special, and E-waste), Method (Smart Collection, Smart Processing, and Smart Disposal), and Source (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2024-2032”. According to the report, the global smart waste management market was valued at $2.2 billion in 2023, and is projected to reach $8.3 billion by 2032, growing at a CAGR of 15.6% from 2024 to 2032.
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Prime determinants of growth
The increasing adoption of smart waste management technologies across various industries will propel the market growth. Smart waste management technologies utilize sensors, data analytics, and automation to optimize waste collection schedules and routes. This reduces fuel consumption, minimizes emissions, and saves time and resources.
Efficient waste management contributes to a cleaner environment by reducing the amount of waste sent to landfills or incinerators. Smart technologies can help divert more waste towards recycling and composting, thus conserving natural resources and reducing pollution. Such factor drives market growth.
Report coverage & details:

Report Coverage 

Details 

Forecast Period 

2024–2032 

Base Year 

2023

Market Size in 2023

$2.2 billion 

Market Size in 2032 

$8.3 billion 

CAGR 

15.6 %

No. of Pages in Report 

188

Segments covered 

Waste Type, Method, Source, and Regions.

Drivers 

Rapid industrialization and infrastructure development
Growth in waste management industry 

Opportunities

Technological advancements 

Restraints

Volatile prices of raw materials

The solid waste segment was the highest contributor to the market in 2023, and e-waste segment is expected to grow at a significant CAGR during the forecast period.
By waste type, the smart waste management market is divided into solid waste, special waste, and e-waste. The solid waste segment accounted for a higher market share in 2023, accounting for more than half of the market revenue. Rapid industrialization and infrastructure development in emerging markets create new opportunities for smart waste management manufacturers. Smart waste management solutions offer significant cost savings and operational efficiency improvements compared to traditional waste management methods. By optimizing collection routes, reducing fuel consumption, and minimizing labor costs, organizations can achieve substantial savings over time.
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The smart collection segment dominated the market in 2023, and smart disposal segment is expected to grow at a significant CAGR during the forecast period.
Depending on method, the smart waste management market is categorized into smart collection, smart processing, and smart disposal. The smart collection segment is accounting for more than half of the market revenue. Smart waste management is used in residential, commercial, and other industries to collect and transport waste effectively. Smart waste management is used to track live status of unfilled and filled waste bins. Smart waste management system is also used to keep track of waste trucks. It tracks positions of waste trucks and sends the information to smartphones of individuals with the use of mobile apps. Smart waste management saves time and energy of waste management services by municipal corporation and industries, which is expected to drive growth of the global smart waste management market.
The residential segment dominated the market in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on source, the smart waste management market is divided into residential, commercial, and industrial. The residential segment accounted for around half market share in terms of revenue in 2023. The residential segment has been witnessing an increase in demand for smart waste managements from past few years, owing to growth in urbanization and increase in smart city initiatives around the globe. In addition, rise in adoption of smart waste management in the residential sector is expected to increase in the future, owing to rise in water pollution levels in urban areas of countries such as India and China.
The Asia-Pacific region will grow at a significant CAGR during the forecast period.
The smart waste management market is analyzed across North America, Europe, Asia-Pacific, Latin America, and MEA. Asia-Pacific is expected to grow at a significant CAGR throughout the forecast period. China holds the maximum share in the smart waste management industry in the Asia-Pacific region. Advances in sensor technology, data analytics, cloud computing, and Internet of Things (IoT) have made smart waste management solutions more affordable and accessible. These technologies enable real-time monitoring, optimization, and automation of waste collection and recycling processes.
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Leading Market Players: –

Covanta Holding Corporation
SUEZ Environmental Services
Republic Services Inc
Waste Management Inc
Sensoneo J.S.A.
Bigbelly Inc
Urbiotica
Ecube Labs Co Ltd
Enevo Oy

The report provides a detailed analysis of these key players in the smart waste management market. These players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Trending Reports in Recycling industry:
Underground Waste Containers Market is expected to reach $1,050.1 million in 2027
Waste Paper Management Market is projected to reach $96,087.9 million by 2031
Waste sorting robots market is projected to reach $10.1 billion by 2031
Water And Wastewater Valve Market is projected to reach $14.7 billion by 2032
Waste Management Equipment Market is projected to reach $55,637.9 million by 2027
Construction and Demolition Waste Recycling Market  is expected to reach $149,190.9 million by 2027
Waste Management Market is projected to reach $3498.2 billion by 2032
Pre-Book Now with 10% Discount:   
Waste Plastic Bricks Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
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Moldova fights to free itself from Russia’s AI-powered disinformation machine

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As Moldova prepares for an EU referendum and presidential election in October, it faces a relentless onslaught of disinformation, cyberattacks, and political corruption linked to the Kremlin.
In a bizarre incident at the end of 2023, President Maia Sandu, known for her pro-Western stance, was falsely depicted as banning a popular berry-infused tea in a video spread across social media platforms. The video, later revealed as a deepfake, falsely portrayed Sandu as mocking the country’s poor while purportedly banning the picking of rose hips to protect the environment.
The false narrative struck a chord in Moldova, where memories of Soviet-era hardships are still vivid. However, the video was a fabrication created by AI tools controlled by political adversaries with ties to Russia.
“This incident is part of Russia’s hybrid warfare against Moldova,” said Stanislav Secrieru, Sandu’s national security adviser.
Moldova, with its upcoming elections and strategic location bordering Ukraine, has become a battleground for disinformation campaigns, with concerns that ongoing interference from Moscow could escalate into a direct invasion.
The October elections, including a referendum on EU membership, are crucial for Moldova’s future alignment. Sandu, seeking reelection, advocates for closer ties with the EU, which already represents the country’s largest economic partner.
However, the Kremlin and its allies are actively opposing Moldova’s pro-Western agenda. Russian soldiers are present in Transnistria, while pro-Moscow politicians in Gagauzia seek Putin’s support.
Furthermore, pro-Kremlin parties, backed by figures like Ilan Shor, engage in election manipulation and cyberattacks targeting critical infrastructure.
Efforts to combat disinformation are hindered by the emergence of AI-powered bots spreading false narratives on social media platforms like Facebook. These bots amplify pro-Russian messages, undermining Sandu’s government and promoting Kremlin-aligned candidates.
Despite these challenges, Moldova is determined to defend its democratic institutions. Ana Revenco, heading the newly-formed Center for Strategic Communication and Combating Disinformation, acknowledges the complexity of the task but emphasizes the importance of countering Kremlin’s aggression.
As Moldova braces for intensified interference in the upcoming elections, the battle against disinformation and cyber threats remains a top priority, with the hope of safeguarding the country’s democratic future.
Source: politico.eu
 
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When grief and AI collide: These people are communicating with the dead

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Ana Schultz, a 25-year-old from Rock Falls, Illinois, finds solace in seeking cooking advice from her late husband Kyle, who passed away in February 2023.
Using Snapchat’s My AI feature, Schultz engages with an artificial intelligence chatbot powered by ChatGPT, tailored to resemble Kyle. She inputs the ingredients available in her fridge and receives culinary suggestions, a practice she describes as a means to feel Kyle’s presence in the kitchen.
While Snapchat My AI typically offers recommendations and engages in conversations with users, Schultz is among those utilizing this technology to recreate the likeness of and communicate with deceased loved ones.
This phenomenon isn’t entirely new, as people have long sought ways to reconnect with departed family members through mediums, spiritualists, or memory preservation services. However, the advent of AI introduces the possibility of simulating conversations and actions beyond what was possible before, prompting ethical considerations and discussions on its impact on the grieving process.
Mark Sample, a professor of digital studies at Davidson College, notes the novelty of using AI for such purposes, with ChatGPT making it more accessible for individuals to experiment with this concept.
Generative AI tools, employing algorithms to generate text, video, audio, or code, can attempt to replicate responses akin to those of deceased individuals. However, the accuracy of these interactions depends on the input data provided to the AI.
One user, a 49-year-old IT professional from Alabama, anonymously shares his experience of using generative AI to clone his late father’s voice, allowing him to convert text to speech. Despite initial moral reservations, he views this as a unique way to preserve his father’s memory.
Less technically complex methods also exist, such as customizing AI responses based on details provided by users. However, while AI models can mimic certain aspects of human conversation, they lack the nuanced authenticity of genuine interactions.
OpenAI, the company behind ChatGPT, continues to enhance its technology to offer more realistic and personalized interactions. Danielle Jacobson, a 38-year-old radio personality from Johannesburg, South Africa, uses ChatGPT’s voice feature to engage in conversations with a customized AI avatar named Cole, providing companionship following the loss of her husband.
Startups and tech giants alike have explored similar applications of AI technology. However, concerns regarding privacy, authenticity, and the impact on the grieving process remain prevalent.
While some individuals find comfort in digital interactions with deceased loved ones, others, like Bill Abney from San Francisco, prefer alternative methods of remembrance, avoiding AI-based recreations out of respect for the authenticity of their relationships.
Ultimately, the use of AI for communicating with the deceased presents a complex intersection of technology and grief, with individuals adopting various approaches based on their personal preferences and ethical considerations.
Source: edition.cnn.com

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