Industrial symbiosis describes the mutualistic interaction of different industries for beneficial reuse of waste flows or energy cascading that results in a more resource‐efficient production system and fewer adverse environmental impacts. Research shows that many information and communication technology (ICT) tools for industrial symbiosis development have been created, but the results of those efforts are unclear. Drawing from advancements in knowledge‐based economics and management, this article applies a knowledge‐based framework to evaluate opportunities for ICT within industrial symbiosis development. ICT systems designed to enable industrial symbiosis are surveyed and evaluated within the proposed framework to identify strengths, trends, and opportunities for continued development. An appendix provides a capsule summary of the 17 ICT tools that are assessed in the article.