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Global Circular Economy Market: Market Size & Share Analysis – Growth Trends & Forecasts (2024-2029) | Pheonix Research

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LONDON, Nov. 18, 2024 /PRNewswire/ —  The Global Circular Economy Market is Segmented by Type (Circular Products and Services), By Enterprise Size (Large Enterprise and Small & Medium Enterprise), By Industry (Manufacturing Industry, Consumer Goods, Waste Management and Recycling Construction and Building Materials, Automotive and Transportation, Food and Agriculture and Others) and By Region (North America, Europe, Asia-Pacific, South America and Middle East & Africa). The report offers market size and forecasts for global circular economy are provided in terms of value (USD) for all the above segments.

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Market Overview:

The growing awareness of pressing environmental challenges such as climate change, resource depletion, and pollution has resulted in a significant shift in customer attitudes, company processes, and government laws. The market’s growth is expected to be primarily driven by rising worries about environmental degradation and significant waste generation across many product categories, which are partly due to the world’s rapidly growing population. As a result, companies who adopt the circular economy may adopt circular principles and improve their reputation, ultimately contributing to the growth of the circular economy industry.

The increasing demand for sustainable products, as well as the depletion of scarce resources like as fossil fuels, minerals, and rare metals, are expected to drive market expansion throughout the forecast period. The paucity of these essential elements has become apparent as a result of the depletion of limited resources. Individuals and businesses are increasingly likely to employ circular economy tactics to reduce their reliance on underutilized raw materials as they become aware of the scarcity of these resources. The circular economy promotes long-term resource management by focusing heavily on product and material reuse, recycling, and remanufacturing. This method decreases the need to extract new resources, which helps to reduce the demand on finite resources and its negative environmental effects.

The circular economy market is growing mostly due to increased awareness of environmental sustainability and resource constraint. Governments and regulatory organizations are enacting tough laws to decrease waste, promote recycling, and lower carbon footprints. This legal pressure drives sectors to adopt circular models that stress material reuse, refurbishment, and recycling.
For example, in December 2023, the National Circular Economy Roadmap for Reducing Plastic Waste in India was unveiled in New Delhi. This roadmap was the outcome of three years of collaboration between Indian and Australian academic organizations. It explains the entire plastics value chain and makes recommendations to help smooth the transition to a circular economy, with the purpose of reducing plastic waste, alleviating environmental issues, and encouraging economic benefits.

Advancements in recycling technology, as well as favourable government policies and regulations, drive market growth. Many governments set waste reduction goals, such as zero-waste targets, with the goal of reducing landfill discharge while also promoting recycling and recovery. These goals create a sense of urgency and set waste reduction targets, encouraging the use of circular processes. Furthermore, enterprises who invest in circular economy projects such as recycling centres, renewable energy projects, or sustainable product design may be eligible for tax breaks, grants, or subsidies from their government. With these financial incentives, circular processes become more economically viable.

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Market Trends:

Market Trend 1: Manufacturing Industry Holds the Largest Market Share in the Circular Economy

Manufacturing firms face excess demand, and changes and innovations in the business environment. A firm has to adopt both economic as well as environmental performance due to global warming and the high levels of sustainable development targets. Transition from the linear to CE minimizes waste and optimizes the utilization of resources by recycling, reusing and repairing.

With the more than adequate resources available, MNCs may change from one economic model to the other because they have enough resources to invest in such strategic development projects. Since the integration of circular economy techniques may not only result in a good ecological reputation but also lead to social and economic gain for the company, numerous manufacturers have already actively taken up on the initiative. For instance, through the use of a survey, circular economy projects may cut down on CO2 emissions by half by 2030 and save as much as USD 700 million annually in material costs during production.

The highly contributory areas of the manufacturing industry to the circular economy are those of eco-design, recycling, and remanufacturing. Perhaps the most important technological achievements are remanufacturing and product longevity in the automobile, electronic, and heavy machineries industries. In such industries, the reuse or reconditioning of the components may be viewed as the extension of cycle life of a product without needing any extra material. Innovations in resource recovery, new recycling technologies, and industrial symbiosis also help manufacturing companies realize cost savings without affecting efficiency.

Market Trend 2: Asia-Pacific Region is the Fastest-Growing Market in the Global Circular Economy

The Asia-Pacific region is currently experiencing the fastest growth in the global circular economy. This is because, as major economies of the world like China, Japan, and India industrialize rapidly, Asia-Pacific is gradually adopting the practices related to circular economies in various industries, mainly waste management, electronics, manufacturing, and the automotive industry. Official directives and the need to manage its huge population in the city and environmental issues have led China to make tremendous leaps in recycling, waste-to-energy technology, and sustainable production. For its part, Japan is one of the pioneers on the circular economy front, with modern systems of recycling, focusing on resource efficiency, and product lifespan. Increasing awareness of the economic as well as environmental benefits of cyclic processes and increased government aid in the form of sterner environmental regulations are also helping the region.

As consumers continue to grow in their desire for sustainable goods and services, this will push companies to integrate concepts of the circular economy into their day-to-day work. Asia- Pacific will grow hugely and will be the fastest region to develop within the global circular economy sector mainly due to increased investment in technology, innovation, and infrastructure supporting circular systems.

Competitive Landscape:

The research provides a comparative assessment of the major firms and organizations operating in the global circular economy market, mainly based on their product offerings, business overviews, regional presence, enterprise strategies, segment market share, and SWOT analysis. Additionally, the study offers a detailed analysis of recent events and company developments, including product development, inventions, partnerships, joint ventures, mergers and acquisitions, strategic alliances, and more. This makes it possible to assess the level of market competition overall. Major key players in the circular economy market include TOMRA, Veolia Water Technologies, ACCIONA Service, Pact Group Holdings Ltd., Siemens, Unilever, BASF, Veolia, Philips, Circular Economy Leadership Canada, and Others.

Speak to Research Team: https://www.pheonixresearch.com/market-report/circular-economy-market/

Major Players:

TOMRAVeolia Water TechnologiesACCIONA ServicePact Group Holdings Ltd.SiemensUnilever

Recent Developments:

In November 2024, Veolia Water Technologies has launched its mobile water services to the European life science, cosmetics, and pharmaceutical sectors. In order to provide dependable, continuous, and sustainable solutions for manufacturing, cleaning, and complex liquid waste treatment for compliance offsite management, this effort offers a wide range of technology and services packaged as a rental service.In October 2024, TOMRA has acquired 80% of the shares in c-trace GmbH, a German leader in digital waste management solutions. c-trace, founded in 2005, offers advanced solutions that combine software and hardware modules to digitize and improve the process for waste management operations. As municipalities and industries increasingly seek to reduce inefficiencies and comply with stricter environmental regulations, demand for these solutions is rising.

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About Pheonix Research

Pheonix Research is a market research and consulting company that provides research-based services to business executives and investment professionals so that they can make perfect business & competitive decisions with precision. We support entrepreneurs through distinguishable fact-oriented insights.

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Trustpilot wins landmark legal case against review sellers ahead of new law banning the sale of fake reviews

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November 18, 2024

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LONDON, Nov. 18, 2024 /PRNewswire/ — Trustpilot, the global online consumer review platform, has won a landmark legal case in the UK against a series of websites that were selling hundreds of fake reviews.

The High Court agreed the review sellers – TPR, SMM Service Buy and SMM 420, were unlawfully inducing businesses who use the platform to breach its terms of use, passing off fake reviews as authorised by Trustpilot and infringing its trademarks.

Following the ruling, Trustpilot is calling on internet service providers and payment providers to take down the websites identified in the legal action.     

The ruling comes as the Competition and Markets Authority prepares to enforce a new law banning the practice of buying or procuring fake reviews. The Digital Markets, Competition and Consumers Act comes into force in April 2025, which will allow the CMA to take action against businesses who break the rules.

Anoop Joshi, Trustpilot’s Chief Trust Officer said: “This is a significant moment in the fight against websites that sell fake reviews, and we want to send a clear message that we will not tolerate review seller activity on Trustpilot. We decided to take action now, ahead of the UK law being introduced, because we’re determined to root out and take action against businesses or individuals who could pose a threat to the integrity of our platform. Ensuring businesses and consumers are able to access genuine reviews on Trustpilot is essential to safeguarding the services we provide”.

Over the past 2 years Trustpilot has successfully brought 10 legal cases against businesses who continually abused the platform’s rules to manipulate others through online reviews. In 2023 Trustpilot removed 3.3 million fake reviews from the platform. The removal rate remains consistent at 6% of the total amount of reviews received year on year. 

About Trustpilot

Trustpilot began in 2007 with a simple yet powerful idea that is more relevant today than ever – to be the universal symbol of trust, bringing consumers and businesses together through reviews. Trustpilot is open, independent, and impartial – we help consumers make the right choices and businesses to build trust, grow and improve.

Today, we have more than 300 million reviews on the platform and 57 million monthly active users across the globe, with 117 billion annual Trustpilot brand impressions, and the numbers keep growing. We have more than 900 employees and we’re headquartered in Copenhagen, with operations in Amsterdam, Denver, Edinburgh, Hamburg, London, Melbourne, Milan and New York. 

For more information, please visit www.trustpilot.com

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/R E P E A T — MEDIA ADVISORY – Media tour of Centre Block construction site/

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November 18, 2024

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GATINEAU, QC, Nov. 15, 2024 /CNW/ – Members of the specialized media are invited to follow a guided tour of the Centre Block construction site on Tuesday, November 19. Representatives from Public Services and Procurement Canada and Parliamentary Administrations will provide the tour and answer questions.

Please note that all details are subject to change. All times are local.

Date: Tuesday, November 19, 2024

Bilingual Tour : meeting time 8:45 a.m.

Meeting point: Centennial Flame, Parliament Hill 

Duration: Approximately 3 hours, including the health and safety briefing

Please note that space is limited. To register, please contact Media Relations by email no later than Monday, November 18 at 2:00 p.m.

IMPORTANT INFORMATION

Please be aware that the tour will take place in an active construction site. A mandatory health and safety briefing will be provided and protective equipment (boots, hard hat, glasses, gloves and vest) will be distributed on-site before the tour. Long pants are required and tank tops are not allowed for health and safety reasons. Please note:  boot sizes are required in advance and should be provided upon registration.

For security reasons, photography and video will be restricted in certain areas.

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SOURCE Public Services and Procurement Canada

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Dispersive Appoints Cybersecurity Visionary Lawrence Pingree as Vice President – Technical Marketing

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November 18, 2024

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Veteran Cybersecurity Leader to Spearhead Strategic Marketing and Strengthen Dispersive’s Stealth Networking Solutions Amid Evolving Cyber Threats

ROSWELL, Ga., Nov. 18, 2024 /PRNewswire/ — Dispersive, an innovative leader in Stealth Networking technology, is proud to announce the appointment of Lawrence Pingree as Vice President – Technical Marketing. Pingree, a seasoned cybersecurity executive with a distinguished track record at Gartner and across the industry, will play a pivotal role in propelling Dispersive’s mission to redefine secure communications and bolster global cybersecurity resilience.

A Proven Leader in Cybersecurity

With nearly 30 years of impactful experience, Lawrence Pingree has cemented his reputation as a thought leader and influential figure in the cybersecurity field. During his tenure at Gartner, Pingree held multiple executive positions, including Vice President Emerging Technologies and Trends – Cloud and Endpoint Security, Managing Vice President of Emerging Technologies – Security & Risk, and Research Vice President – Security Technologies. His strategic oversight and visionary research significantly shaped the understanding and evolution of critical cybersecurity technology.

Pingree’s contributions include publishing over 300 influential research notes, introducing groundbreaking concepts such as Security as a Service (SaaS), Software-Defined WAN (SD-WAN), Endpoint Detection and Response (EDR), Threat Intelligence Platforms (TIP), Threat Intelligence Gateways (TIG) and Secure Internet Gateways (SIG). His work provided key strategic and tactical guidance to technology providers and end-users alike, empowering them to navigate an increasingly complex threat landscape.

In addition to his corporate roles, Pingree’s professional affiliations have included serving as Vice President of the Digital Forensics Association, being an active member of the Silicon Valley chapter of the Information Systems Security Association (ISSA) and contributing to the Open Web Application Security Project (OWASP). These roles underscore his commitment to advancing cybersecurity knowledge and practice at both organizational and community levels.

Joining Forces with Dispersive

“Joining Dispersive is an opportunity to align my passion for cybersecurity with a company that embodies true innovation in secure networking,” said Pingree. “Dispersive’s approach to preemptive, quantum-resistant cybersecurity uniquely positions it to address the urgent and evolving needs of our hyperconnected world. I am excited to contribute to the company’s mission to safeguard global communications through cutting-edge, adaptable solutions.”

Dispersive’s Stealth Networking solutions leverage military-grade tactics to ensure data in transit is secure and protected against advanced threats, including nation-state actors and complex supply chain attacks. By constructing virtual, active/active multipath mesh networks with rolling encryption keys and granular access controls, Dispersive offers unmatched security, resilience, and performance. The software-only solution can be globally deployed in minutes, requiring minimal operational overhead and seamlessly integrating with existing infrastructure.

“With Lawrence’s deep expertise and leadership, Dispersive is positioned to not only reinforce our technological innovation but also scale our customer and market impact,” said Rajiv Pimplaskar, CEO of Dispersive. “His proven ability to introduce and drive new ideas and technologies makes him ideal to drive our strategic marketing initiatives and help safeguard our critical infrastructure customers.”

About Dispersive

Dispersive is a pioneering provider of secure networking software, focused on preemptive cybersecurity and Stealth Networking. Inspired by military strategies, Dispersive’s technology ensures unmatched data security, obfuscation, and network performance. With solutions like DispersiveCloud and DispersiveFabric, the company empowers organizations to operate securely and confidently in an environment where cybersecurity threats driven by hyperconnectivity, generative AI, and quantum computing are at an all-time high. For more information on Dispersive and its innovative approach to cybersecurity, visit www.dispersive.io.

Media Contact:
Amy Levine
Director of Marketing
Dispersive
844.403.5850
alevine@dispersive.io
www.dispersive.io

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SOURCE Dispersive Holdings, Inc.

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