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 2019-2025.
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.
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