Smart Trash Bins Market Size Worth USD 1,345.30 Million By 2032 | CAGR: 14.6%

Smart Trash Bins Market Size Worth USD 1,345.30 Million By 2032 | CAGR: 14.6%

The global smart trash bins market size is expected to reach USD 1,345.30 million by 2032, according to a new study by Polaris Market Research. The report “Smart Trash Bins Market Share, Size, Trends, Industry Analysis Report, By Capacity (8 to 13 Gallon, 14 to 23 Gallon, Above 23 Gallon); By Price; By Shape; By Application; By Distribution Channel; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rapidly rising awareness among individuals of the benefits of using technologically enhanced garbage cans is boosting the demand for smart trash bins, boosting the market's growth over the forecast period. For instance, in December 2021, RecycleSmart declared the Pello trash and recycling technology product's official launch. Pello is a cloud-based technology platform with durable, networked sensors that detect how full waste and recycling containers are, examine the contents of the containers, and deliver data insights to assist businesses in collecting recyclables and waste more effectively.

Furthermore, developing countries are adopting smart city ambitions. For instance, in October 2022,  BINgo was a smart bin unveiled by Singapore's Agency for Science, Technology, and Research and a group of companies. It will first be used in three locations, including AMK Hub, NEX, & FairPrice Hub. It employs AI, IoT, & sensor technologies to assist in addressing Singaporeans' poor recycling rates and improper recycling practices.

In addition, in October 2020, Kaiserbagh, Lalbagh, and Hazaratganj are three neighborhoods where the Lucknow Municipality plans to put smart trash cans. Therefore, adopting advanced smart trash bins and government support drives market growth. Additionally, the spontaneous availability of many garbage bin alternatives worldwide is anticipated to be a major hindrance to the expansion of the smart trash bin market. Due to its low cost and ease of usage, customers prefer traditional bins. The smart garbage can uses wireless technologies with a shorter range and slower transmission speeds.

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Additionally, smart trash bins need sensor nodes. Therefore major players are collaborating for the advancement of technologies in smart trash bins boosting the growth of the market. For instance, in March 2021, A technological business named REEN bought Enevo Group. The acquisition will boost REEN's position in terms of technical approaches to modernize and streamline waste management.

Smart Trash Bins Market Report Highlights

  • Commercial segment is anticipated to grow at a significant CAGR over the forecast period. This is due to developed nations typically spending more on waste management procedures due to environmental concerns.
  • Low-price segment dominated the market, owing to its high adoption in low-income groups & high demand in emerging nations
  • Asia-Pacific is anticipated to grow at the fastest rate, due to the increased demand for smart products over the past few years in the region
  • Global players include Ausko Pte, BIN-e Corporation, BioEnable Technologies., Honey-Can-Do International, Home Depot Corporation, iTouchless Housewares, Modernhome, and HANGSHAU Houseware, and The Home Depot.

Polaris Market Research has segmented the smart trash bins market report based on capacity, price, shape, application, distribution channel, and region:

Smart Trash Bins Market, Capacity Outlook (Revenue - USD Million, 2019 - 2032)

  • 8 to 13 Gallon
  • 14 to 23 Gallon
  • Above 23 Gallon

Smart Trash Bins Market, Price Outlook (Revenue - USD Million, 2019 - 2032)

  • Low
  • Medium
  • High

Smart Trash Bins Market, Shape Outlook (Revenue - USD Million, 2019 - 2032)

  • Oval
  • Rectangular
  • Round

      Smart Trash Bins Market, Application Outlook (Revenue - USD Million, 2019 - 2032)

  • Residential
  • Commercial

      Smart Trash Bins Market, Distribution Channel Outlook (Revenue - USD Million, 2019 - 2032)

  • Online
  • Offline

      Smart Trash Bins Market, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa