A recent report published by Infinium Global Research on smart
trash bin market provides an in-depth analysis of segments and sub-segments in the
global as well as regional smart trash bin market. The study also highlights
the impact of drivers, restraints, and macro indicators on the global and
regional smart trash bin market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecast and dollar values of
global smart trash bin market. According to the report, the global smart trash
bin market is projected to grow at a healthy CAGR over the forecast period of
Waste management is one of the vital function of a smart city. The
number of smart city projects across the world is growing at a rapid pace and
on the other hand, the world is grappling with the problem of waste management.
The generation of trash is dynamic in nature, it often results in some trash
bins getting loaded and leaking while others remain almost empty. An
overflowing trash bin could be a health hazard for communities, especially in
warm environments. The demand for smart trash bins is increasing at a rapid
pace due to growth in urbanization and globalization. Leading market players
active in the smart trash bin market are focusing on various scenarios of waste
management while addressing the rise in global demand for smart trash bins.
The developing concepts of smart cities and efficient waste
management systems across the globe are the major driving factor for the smart
trash bin market. Furthermore, factors such as the fastest-changing lifestyle,
increasing need for convenience, and quick adoption of the latest technologies
are other driving factors for the market growth. Smart trash bins that can be
remotely controlled via mobile applications is fast trending among consumers.
The users do not have to handle the trash bins physically, they offer a higher
degree of convenience and prevents the spread of any bacteria, thus ensuring
sanitation. Product innovation and technology improvement are fueling market
growth. However, the low and slow adoption of smart solutions in developing
countries is restraining the growth of the smart trash bin market. Moreover,
the rising preference for touchless trash bins as it offers convenience and
prevents cross to contamination of germs expected to provide ample growth
opportunities to the market players.
Geographically, North America dominates the global smart trash bin
market owing to the rising demand for efficient waste disposal and smart waste
management. Europe is the second-largest market for the smart trash bin. The
demand is minimal in developing countries such as Asia-Pacific and Africa.
The report on global smart trash bin market covers segments such
as capacity, and end use. On the basis of capacity, the sub-markets include
under 5 gallon, 5 to 9 gallon, 10 to 14 gallon, 15 to 19 gallon, 20 to 30
gallon, and 31 to 55 gallon. On the basis of end use, the sub-markets include
commercial, and residential.
The report provides profiles of the companies in the market such
as Nine Stars, Spectrum Brands Holdings, Inc., iTouchless Housewares &
Products, Inc., Simplehuman, EKOUSA, Modernhome, Enevo, Honey Can Do International,
Inc., The Home Depot Inc., and other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of smart trash bin
market. Moreover, the study highlights current market trends and provides
forecast from 2019-2025. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.