North America Smart Trash Bin Market Insights Forecasts to 2032
- The North America Smart Trash Bin Market Size was valued at USD 8.46 Billion in 2022.
- The Market is Growing at a CAGR of 6.79% from 2022 to 2032.
- The North America Smart Trash Bin Market Size is expected to reach USD 16.32 Billion by 2032.
- North America is expected to grow the fastest during the forecast period.
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The North America Smart Trash Bin Market Size is expected to reach USD 16.32 Billion by 2032, at a CAGR of 6.79% during the forecast period 2022 to 2032.
The smart trash bins are a type of automated waste management system that contains remote ultrasonic fill-level sensors that detect the capacity of the bin and send this data to the cloud-based monitoring and processing platform via the Internet of Things. Waste management firms can optimize their routes and frequency based on the information provided. These intelligent bins also make use of a solar-powered garbage compactor that activates at a predetermined level, allowing them to hold significantly more waste (up to 8 times) while avoiding overflowing. The demand for smart trash bins is steadily growing as a result of developments such as urbanization and modernization. The growing need for smart disposal and waste management is one of the primary reasons driving market advancements. Although providers of smart trash bins in North America offer their products primarily to retail stores, wholesale suppliers, and vendors, e-commerce has made a significant contribution to the market's growth. By cooperating with significant e-commerce businesses throughout the world, such as Amazon, Walmart, Costco, eBay, and Alibaba, industry players are expanding their global market visibility while also managing to supply their items globally to boost their sales.
This research report categorizes the market for North America Smart Trash Bin Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America Smart Trash Bin Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the North America Smart Trash Bin Market.
North America Smart Trash Bin Market Report Coverage
|Market Size in 2022 :||USD 8.46 Billion|
|Forecast Period 2022-2032 CAGR:||6.79%|
|2032 Value Projection:||USD 16.32 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||120|
|Segments covered:||By Capacity, By End Use,|
|Companies Covered:||Ausko Pte Ltd., Nine Stars Group Inc., iTouchless Housewares & Products, Inc., Simplehuman, HANGSHAU Houseware Co., Ltd., Home Depot Product Authority, LLC, CleanRobotics, Modern Home, Sigfox, Evreka, Enevo Inc., Sensoneo|
|Pitfalls & Challenges:||COVID-19 Empact,Challenges, Future, Growth, & Analysis|
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The growing popularity of the Internet of Things (IoT) and electronically connected gadgets, as well as other technological advancements, have resulted in further investments in urban smart cities and efficient garbage disposal systems, which are expected to drive the expansion of North America Smart Trash Bin Market during the forecast period. Furthermore, as social welfare groups, city government organizations, and other associated regulatory bodies ramp up their efforts to ensure cleaner environments in urban areas, makers of non-contact garbage bins ramp up their efforts to increase the usage of their services. In order to encourage the majority of homeowners to utilize non-contact trash bins in regular garbage disposal operations, initiatives and efforts are being undertaken by governments and product makers. In addition, in the context of their attempts to provide appealing services to clients, hotels, and restaurants are increasingly adopting automatic trash bins, especially in public restrooms. Moreover, smart cans are being implemented in public toilets such as shopping malls, airports, bus terminals, and metro stations to provide a sanitary and healthy environment.
- In 2022, the 14 To 23 gallons segment is witnessing a higher growth rate over the forecast period.
On the basis of capacity, the North America Smart Trash Bin Market is segmented into 8 To 13 gallons, 14 To 23 gallons, and above 23 gallons. Among these, the 14 To 23 gallons segment is expected to develop at a faster rate during the forecast period, as a result of the accessibility to a large variety of items in sizes such as 13.2 gallons, 14 gallons, 15 gallons, 18 gallons, 22 gallons, and furthermore. These automatic garbage bins are in popular use in the commercial sector, which requires trash cans with greater capacities to collect significant quantities of waste created in hotels, public toilets, and hospitals, among other places.
- In 2022, the residential segment accounted for the largest revenue share of more than 27.3% over the forecast period.
On the basis of end use, the North America Smart Trash Bin Market is segmented into residential and commercial. Among these, the residential segment is dominating the market with the largest revenue share of 27.3% over the forecast period, owing to growing awareness regarding the convenience offered by the product. The simplicity of operation provided, combined with rising concerns about ensuring hygienic environments by reducing germ cross-contamination, is projected to increase demand for smart trash bins. Smart trash bins are frequently costly due to the need for electronic components such as detectors, motion sensors, and batteries.
- In 2022, the online segment accounted for the largest revenue share of more than 34.2% over the forecast period.
On the basis of sales channel, the North America Smart Trash Bin Market is segmented into online and offline. Among these, the online segment is dominating the market with the largest revenue share of 34.2% over the forecast period. Online platforms offer greater options. Convenience, free home delivery, and payment security are further driving demand for this market.
The report offers the appropriate analysis of the key organizations/companies involved within the North America Smart Trash Bin Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Ausko Pte Ltd.
- Nine Stars Group Inc.
- iTouchless Housewares & Products, Inc.
- HANGSHAU Houseware Co., Ltd.
- Home Depot Product Authority, LLC
- Modern Home
- Evreka, Enevo Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In March 2023, Recycle Track Systems, Inc. ("RTS"), a leader in traceability and sustainability solutions for the materials, waste, and recycling industry, has acquired RecycleSmart Solutions, Inc. ("RecycleSmart"), Canada's largest independent provider of smart waste diversion, organic capture, and recycling management technology now operating as Recycle Track Systems CA. Included in the acquisition is the Pello waste sensor technology, a cutting-edge Internet of Things (IoT) hardware and software platform developed by RecycleSmart.
This study forecasts revenue at global, regional, and country levels from 2021 to 2032. Spherical Insights has segmented the North America Smart Trash Bin Market based on the below-mentioned segments:
North America Smart Trash Bin Market, By Capacity
- 8 To 13 Gallons
- 14 To 23 Gallons
- above 23 Gallons
North America Smart Trash Bin Market, By End Use
North America Smart Trash Bin Market, By End Use
North America Smart Trash Bin Market, By Country
- United States
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