About Smart Trash Bin
A smart trash bin is the automatic garbage bins that are used for garbage management or disposition. It is a touchless and sensor-based system that preventing cross-contamination of germs. Growing Innovations and the use of advanced technology in the smart trash bin is expected to boost the demand for smart trash bin in the forecasted period. Furthermore, hotels & restaurants are increasingly deploying smart trash bins, particularly in washrooms, as part of their efforts to offer attractive services to customers. Moreover, in the Asia Pacific region, India has been taking initiatives to mark smart cities that drive economic growth and quality of life of the people through technology which will increase the demand for smart products.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The market is highly competitive due to the presence of a large number of manufacturers across the globe. The industry players are investing aggressively in R&D activities to develop innovative products and differentiate themselves from their peers in order to stay ahead of the competition. The new manufacturer entrants within the market are finding it arduous to vie with the international vendors supported quality, responsibleness, and innovations in technology. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Smart Trash Bin market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
iTouchless Housewares & Products, Inc (United States), Nine Stars Group Inc (United States), Spectrum Brands Holdings, Inc (United States), Simplehuman (United States), EKO USA (United States), HANGSHAU Houseware Co., Ltd. (China), Rubbermaid Commercial Products (United States), Enevo Oy (Finland), Honey-Can-Do (United States), Home Depot (United States) and Modernhome (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Clean Robiotics (United States), Evreka (Turkey) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Smart Trash Bin market by , Application (Home, Restaurant, Shopping Mall, Office Building and Others) and Region.
On the basis of geography, the market of Smart Trash Bin has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material , the sub-segment i.e. Plastic will boost the Smart Trash Bin market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Capacity, the sub-segment i.e. 8 to 13 gallon will boost the Smart Trash Bin market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Hypermarkets and Supermarkets will boost the Smart Trash Bin market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Residential will boost the Smart Trash Bin market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Demand in Hospitals and Clinics for Automatic Disposal of Sanitary Waste and Growing Innovations and use of advanced technology in the smart trash bin
Market Growth Drivers:
Surging Demand for Efficient Waste Disposal and Smart Waste Management and Rising Demand for Trash Bins for Hygiene, Convenience and Preventing Cross-Contamination of Germs
Challenges:
Low and Slow Adoption in Developing Countries
Restraints:
High Cost of the Smart Trash Bin
Opportunities:
Growing Urbanized Population and Unavailability of Waste Management Facilities and Rising Investments by Market Players for Latest Technologies
Market Leaders and their expansionary development strategies
In March 2023, Recycle Track Systems, Inc, a leader in traceability and sustainability solutions for the materials, waste, and recycling industry, has acquired RecycleSmart Solutions, Inc, Canada's largest independent provider of smart waste diversion, organic capture, and recycling management technology now operating as Recycle Track Systems CA. Included in the acquisition is the Pello waste sensor technology, a cutting-edge Internet of Things (IoT) hardware and software platform developed by RecycleSmart.
In June 2023, Pittsburgh International Airport (PIT) and CleanRobotics announced a partnership to implement AI recycling bin TrashBot to assist with the airport's waste management initiatives. As part of PIT's commitment to supporting innovative aviation technologies, TrashBot has join the facility to sort passenger waste and recyclables with 96% accuracy.
Key Target Audience
Smart Trash Bin Manufacturers, Smart Trash Bin Traders/Distributors/Suppliers, Raw Material Suppliers, Downstream Buyers, Potential Investors, Government and Regulatory Authorities and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.