Smart Trash Bin: Introduction
- A smart trash bin is a technologically advanced waste management system. It has wireless ultrasonic sensors embedded inside which monitors the bin through IoT. This data is further sent to a cloud-based monitoring and analytics platform.
- Major players across the globe are introducing smart trash bins with unique materials and advanced technology that help users in easing logistics, reducing costs, and improving the environment. This is likely to drive the demand for smart trash bins in the coming years.
Rising Usage of Smart Trash Bins
- Increasing awareness about the usage of technologically advanced trash bins among users is influencing them to opt for smart trash bins. Emerging countries across the globe are promoting their major cities with smart technology in order to meet smart city project initiatives, which is likely to gain demand for smart trash bins. End-users consider these systems effective as they offer multiple benefits in terms of time saving, minimizes infrastructure, and operating costs by up to 30%. In addition, rising dependency of users on smart systems that have the ability of reducing manpower requirements to handle the garbage collection process, is found to be an additional benefit in different geographies. This is promoting the growth of the global smart trash bin market.
Presence of Alternate Solutions: A Key Restraint
- Easy availability of several alternative solutions to trash bins across the globe is likely be a major barrier to the growth of the smart trash bin market. Users still find a traditional bin to be more convenient, as it is cost effective and easy to use. Wireless technologies used in the smart trash bin has a shorter range and lower data speed. It also needs sensor nodes for its operation which has limited memory size. In addition, cost required for training the employees to operate smart trash bins along with its overall maintenance cost may impact the growth of the smart trash bin market.
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Asia Pacific a Potential Market for Smart Trash Bins
- The global smart trash bin market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the smart trash bin market in Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, the market in Asia Pacific comprises India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes GCC, South Africa, and Rest of Middle East & Africa. The smart trash bin market in South America has been segmented into Brazil and Rest of South America.
- Asia Pacific is expected to remain a potential market for smart trash bins during the forecast period, owing to demand for trash bins and increasing preference for smart products in the past few years in the region.
Key Players Operating in the Global Smart Trash Bin Market
The global smart trash bin market is fragmented in nature, due to presence of a large number of global and regional players. A few of the key players operating in the global smart trash bin market are:
- EKO USA
- Enevo Oy
- Home Depot, Inc.
- Honey-Can-Do International
- iTouchless Housewares &
- Products, Inc.
- Nine Stars Group USA, Inc.
- Skyline International (Modernhome)
- Spectrum Brands Holdings, Inc.
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Global Smart Trash Bin Market: Research Scope
Global Smart Trash Bin Market, by Capacity
- 8 to 13 Gallon
- 14 to 23 Gallon
- Above 23 Gallon
Global Smart Trash Bin Market, by Shape
Global Smart Trash Bin Market, by Price
Global Smart Trash Bin Market, by Application
Global Smart Trash Bin Market, by Distribution Channel
- Specialty Stores
- Direct Sales
- Others (Departmental Stores, Individual Stores, etc.)
The report on the global smart trash bin market is a compilation of first-hand information, qualitative and quantitative assessment by market analysts, and inputs from market experts and market participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness of each segment. The report also maps the qualitative impact of various factors on regional and other segments of the market.
Regional Analysis of the Global Smart Trash Bin Market:
- North America
- Asia Pacific
- Middle East & Africa (MEA)
- South America
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
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The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.