Global Smart Trash Bin Market Report and Forecast 2023-2028

Global Smart Trash Bin Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global smart trash bin market reached a value of approximately USD 193 million in 2022. Aided by the increasing demand for smart home devices and the broadening applications of smart trash bins across various sectors, the market is projected to further grow at a CAGR of 12.19% between 2023 and 2028 reaching a value of USD 390.04 million by 2028.

Smart trash bins, a product of IoT (Internet of Things) technology, are designed to optimise waste management by offering features such as sensor-based automatic opening, waste compression, waste level detection, and internet-enabled alerts for emptying the bin. They are an integral part of the burgeoning smart home industry, promoting hygiene and convenience for consumers.

The rising consumer preference for smart home devices is driving the global smart trash bin market growth. With increasing awareness of the benefits provided by IoT in improving convenience and efficiency, there has been a significant shift towards smart home devices. This trend, combined with the growing emphasis on hygiene and cleanliness, has fuelled the surge in demand for smart trash bins.

The broadening applications of smart trash bins across various sectors also play a significant role in boosting the smart trash bin market demand. In the healthcare sector, these devices can reduce the risk of infections by limiting direct contact with waste. In offices and commercial spaces, smart trash bins enhance cleanliness and efficiency by automating waste management tasks. Meanwhile, in public spaces, these devices can help maintain cleanliness by alerting maintenance staff when they need to be emptied, thus preventing overflow.

Moreover, the ongoing developments in IoT technology have led to an increase in the capabilities of smart trash bins, aiding the smart trash bin market development. Modern devices can now integrate with home automation systems, providing users with real-time updates on waste levels and even reminding them to take out the trash. Some models even have the ability to sort and compress waste, making recycling easier and reducing the frequency of trash removal.

Furthermore, the increasing focus on sustainability and waste management is contributing to the smart trash bin market expansion. Smart trash bins can play a significant role in waste management strategies by optimising waste collection and encouraging recycling. These bins can compress waste, increasing their capacity and reducing the frequency of trash collection, which can lead to reduced carbon emissions from garbage trucks.

Market Segmentation

The market can be divided based on capacity, operation, distribution channel, and region.

Market Breakup by Capacity

• 8 to 13 Gallons
• 14 to 33 Gallons
• Above 24 Gallons

Market Breakup by Operation

• Automatic
• Semi-Automatic

Market Breakup by Distribution Channel

• Offline
• Online

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global smart trash bin companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Ausko Pte Ltd
• iTouchless Housewares and Products Inc.
• simplehuman, LLC
• Hangshau Houseware Co., Ltd.
• Home Depot, Inc.
• Big Belly Solar LLC.
• Honey Can Do International
• Nine Stars Group (USA) Inc.
• Binology LLC
• CleanRobotics Technologies, Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.