New York, NY, March 09, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Smart Trash Bins Market Share, Size, Trends, Industry Analysis Report, By Capacity (8 to 13 Gallon, 14 to 23 Gallon, and Above 23 Gallon); By Price; By Shape; By Application; By Distribution Channel; By Region; Segment Forecast, 2023-2032” in its research database.
“According to the latest research study, the global smart trash bins market size & share is anticipated to be valued at approximately USD 346.29 Million in 2022 and is projected to hit a revenue of around USD 1,345.30 Million by 2032, at a CAGR of around 14.6% between 2023 and 2032.”
What is Smart Trash Bins? How Big is Smart Trash Bins Market Size & Share?
- Overview
Smart trash bins are intelligent waste management systems. They have wireless ultrasonic fill level sensors embedded inside, which detect how the full bin is, and then through IoT, this data is sent to cloud-based monitoring and analytics platform. The rapidly rising demand for smart trash bins market can be attributed to the fact that they help reduce the number of waste collections needed by up to 80% resulting in less manpower, emissions, fuel use, and traffic congestion.
These touchless trash bins are sensor-based and are capable of operating without making any physical contact. The market formulated estimates of the market sizing and forecasts for automatically operated touchless garbage bins. Surging demand for efficient waste disposal and smart waste management is one of the key trends stimulating the market's growth.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Key data covered in the market report
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the market based on the availability of data, information related to new product launches, and relevant news.
- Analysis of business strategies by identifying key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
Some of the Top Market Players Are:
- Ausko Pte.
- BIN-e Corporation
- BioEnable Technologies
- EKO Limited
- Enevo Oy Corporation
- Ecube Labs Limited
- Garbi Co.
- Honey- Can -Do International
- Home Depot Corporation
- iTouchless Housewares & Products
- Nine Stars Group
- Spectrum Brands
- Simplehuman Corporation
- Smartbin
- SmartTrash
- The Home Depot
For Additional Information on Key Players, Download a PDF Brochure: https://www.polarismarketresearch.com/industry-analysis/smart-trash-bins-market/request-for-sample
Key factors driving market growth
- Efforts by the government to adopt touchless trash cans to push the market
With public welfare organizations, local government bodies, and other concerned regulatory boards increasingly undertaking initiatives to ensure cleaner surroundings in urban areas, manufacturers of smart trash bins are escalating their efforts to boost the adoption of their offerings. The smart trash bins market size is expanding as initiatives and efforts led by the government and product manufacturers are encouraging the residential population to adopt touchless trash cans in day-to-day waste disposable activities.
The convenience offered by the automatic disposal of sanitary waste in hospitals and clinics is projected to bolster the adoption of smart trash bins in the commercial sector. Smart trash bins market sales are soaring as hotels and restaurants are increasingly deploying automatic garbage cans, especially in washrooms, as part of their efforts to offer attractive services to customers.
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Recent trends influencing the market
Emerging countries are in favor of smart technology to drive the market
- Consumers are influenced to choose smart trash bins as their understanding increases for technology-enabled garbage bins. Emerging countries globally are in favor of smart technology to implement in major cities to meet smart city project initiatives that can certainly increase the need for smart garbage bins. End users regard these systems as effective since they provide benefits in terms of time-saving, infrastructure reduction, and reduction in operating expenses by up to 30%.
- To promote a healthy and hygienic environment, smart cans are currently installed in washrooms at public locations such as metro stations, airports, bus stops, and shopping malls. These widespread end-use applications are expected to bolster market growth in the forecast period.
Segmentation assessment
- The online segment is expected to witness the fastest growth
Based on the distribution channel, the online segment is expected to witness the fastest growth. Smart trash bins market demand is on the rise due to online platforms offering more possibilities for clients to go through and choose the type of smart garbage bin they want, which is a terrific approach to market any product, including smart trash cans.
- The residential segment accounted for the highest market share
Based on application, the residential segment accounted for the highest market share. Smart trash bins market trends include creating smart cities and the demand for smart waste management. The commercial market for smart trash bins has been impacted by considerations such as the price of a smart garbage bin and extra maintenance cost compared to minimal pricing and nearly zero maintenance cost.
Smart Trash Bins Market: Report Scope
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 1,345.30 Million |
| Market size value in 2023 | USD 395.85 Million |
| Expected CAGR Growth | 14.6% from 2023 - 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Ausko Pte Ltd., BIN-e Corporation, BioEnable Technologies Pvt. Ltd., EKO Limited, Enevo Oy Corporation, Ecube Labs Limited, Garbi Co., Inc., Honey- Can -Do International, Inc., Home Depot Corporation, iTouchless Housewares & Products, Inc., Modernhome and HANGSHAU Houseware Co., Ltd., Nine Stars Group Inc., Spectrum Brands Inc., Simplehuman Corporation, Smartbin Pvt. Ltd., SmartTrash Inc., and The Home Depot Inc. |
| Segments Covered | By Capacity, By Price, By Shape, By Application, By Distribution Channel, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
- Increasing efforts by regulatory bodies to maintain cleaner urban environments to propel the North American market
North America held the largest smart trash bins market share because manufacturers of touchless waste bins are intensifying their efforts to increase the acceptance of their products as public welfare organizations, local government bodies, and other concerned regulatory boards are increasingly taking action to maintain cleaner environments in urban areas.
The Asia Pacific region is expected to contribute significantly to the growth of the worldwide market. Globally, developing nations are supporting smart technology in their important cities to support smart city project initiatives, which are projected to boost demand for smart garbage cans.
Browse the Detail Report “Smart Trash Bins Market Share, Size, Trends, Industry Analysis Report, By Capacity (8 to 13 Gallon, 14 to 23 Gallon, and Above 23 Gallon); By Price; By Shape; By Application; By Distribution Channel; By Region; Segment Forecast, 2023-2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/smart-trash-bins-market
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Recent Developments
- In December 2022, Mendel University (MENDELU) in Brno researchers created "smart bins" tailored to the unique requirements of cities, governments, and businesses. The ability to be GPS-tracked and report on fires are a few of the desired characteristics. A demo model of a smart garbage bin that uses sensors to detect when it is full and needs to be emptied can alert the operator who is currently installed in the lab.
Some of The Key Questions Answered in This Report
- What are the key factors driving the market?
- Who are the key manufacturers in the market space?
- How the competition goes in the future related to the industry?
- What are the key trends impacting the growth of the market?
- Which is the leading country in the world?
- Where will the strategic developments take the industry in the mid to long term?
Polaris Market Research has segmented the smart trash bins market report based on capacity, price, shape, application, distribution channel, and region:
By Capacity Outlook
- 8 to 13-gallon
- 14 to 23-gallon
- Above 23 Gallon
By Price Outlook
- Low
- Medium
- High
By Shape Outlook
- Oval
- Rectangular
- Round
By Application Outlook
- Residential
- Commercial
By Distribution Channel Outlook
- Online
- Offline
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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