Global Smart Trash Bin Market by Capacity (8 to 13 gallons, 14 to 23 gallons, and above 23 gallons), End Use (Residential and Commercial), Sales Channel (Online and Offline), and Region (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

The global smart trash bin market is anticipated to expand at a substantial rate during the forecast period, between 2021 and 2028. Smart trash bins are exactly as they sound, they are advanced trash bins used for disposing garbage and for waste management. Smart trash bins are fitted with smart sensors and automation technology which provide effortless garbage disposal with minimum requirements. 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. Smart trash bins can be used in home as well as in industries with different capacities and technologies.

Market Trends, Drivers, Restraints, and Opportunities:

• Growing innovations and use of advanced technology in the smart trash bin has driven the smart trash bins market.
• The need for proper waste management has driven the market for smart trash bins.
• Improvement in factors like convenience, free home delivery, security of payment, and rapid & safe delivery is estimated to fuel the market.
• Increasing awareness among users for advanced technologies is boosting the market for smart trash bins.
• Cities opting for smart city projects are encouraging people to use smart trash bins which are projected to drive the market during the forecast period.
• Easy use of traditional trash bins and low cost is still a big hindrance in the market growth of trash bins.
• Technologies used in smart trash bins are not so advanced yet and are prone to malfunction which restricts the market growth.
• 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.

Scope of the report:

The report on the smart trash bin market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Market Segment Insights:

The 8 to 13 gallon segment holds the major market share

In terms of capacity, the smart trash market can be divided into 8 to 13 gallons, 14 to 23 gallons, and above 23 gallons. The 8 to 13 gallon segment is anticipated to dominate the market during the forecast period. The 8 to 13 gallon capacity smart trash bins are made specifically for residential use, i.e. to be used in homes, a given household produces limited waste as compared to commercial and industrial segment and the capacity of 8 to 13 gallons perfectly satisfies the need of a residence.

The online segment holds a key market share and is expected to expand at a high CAGR during the forecast years

In terms of sales channel, the smart trash bin market is bifurcated into online and offline. The online segment holds the major market share and continues to dominate the market during forecast period. The online segment is a great way to sell any product, smart trash bins are no different, online platforms provide more options for the customers to look and select their desired type of smart trash bin. Other factors like convenience, free home delivery, and quality & timely service are projected to increase the demand for smart trash bins.

The residential segment holds the major market share
In terms of end users, the smart trash bin market is bifurcated into residential and commercial use. The residential segment continues to be the key market for smart trash bin during the forecast period. Factors like development of smart cities and need for smart waste management has led to growth in the smart trash bin market. The factors like price of smart trash bin and extra maintenance cost as compared to minimal price and almost zero maintenance cost have impacted the commercial market for smart trash bins.

The market in Asia Pacific is anticipated to expand at a robust CAGR during forecast period

In terms of regions, the smart trash bin market is segmented into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is estimated to hold major market share during the forecast period. Increasing demand for smart products, need for proper waste management, and increasing government initiatives are the factors projected to boost the market.

Segments

• 8 to 13 gallons
• 14 to 23 gallons
• Above 23 gallons

• Online
• Offline

• Residential
• Commercial

• Asia Pacific
•  North America
•  Europe
•  Latin America
•  Middle East & Africa.

• Ausko Pte Ltd.
• Nine Stars Group Inc.
• iTouchless Housewares & Products, Inc.
• Ecube Labs
• Simplehuman

Competitive Landscape

Key players in the smart trash bin market include Ausko Pte Ltd., Nine Stars Group Inc., iTouchless Housewares & Products, Inc., Ecube Labs, and Simplehuman. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.