[ad_2]
SAN FRANCISCO, March 21, 2023 /PRNewswire/ — The global smart trash bin market size is expected to reach USD 162.02 million by 2030, expanding at a CAGR of 12.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. Smart garbage cans are essentially touchless, sensor-technology based trash cans or cabinets that eliminates human involvement of manually operating the trash bins. Customers may comprehensively monitor trash operations by analyzing real-time information on the basis of waste collected, fill level, type of waste, and so on, using these automated smart trash bins for waste management and disposal.
Key Industry Insights & Findings from the report:
Read 120 page market research report, “Smart Trash Bin Market Size, Share & Trends Analysis Report By Capacity Type, By Sales Channel (Online, Offline), By End-user (Residential, Commercial), By Operation, By Compartment, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Smart Trash Bin Market Growth & Trends
The market is expected to be driven by the rising awareness of proper waste management in the governments across the world, international groupings such as United Nations Environment Programme (UNEP), and end-consumers. With the growing awareness about environmental issues and the need to reduce waste, governments and organizations around the world are placing greater emphasis on waste management. For instance, as per the World Bank, waste generation across the globe is expected to increase from 2.01 billion metric tons in 2016 to 3.40 billion metric tons by 2050 that represents 70% increase in just 34 years. Smart trash bins can help to optimize waste collection and disposal, thereby reducing the environmental impact of waste. For example, it can separate recyclable materials from non-recyclable ones, making it easier to recycle and reduce waste.
Moreover, the rapid technological advancements are also a major factor boosting the growth of the market. The development of new technologies, such as the Internet of Things (IoT), has made it possible to create smart trash bins that are more efficient and effective than traditional trash bins. These technologies enable trash bins to detect when they are full and in need of emptying, and can even compact waste to reduce the amount of space needed for disposal. For instance, FinBin offers CitySolar, a waste-compacting smart trash bin powered by solar energy and has even patented its technology. The compactor easily accommodates 120 and 240-litre wheelie bins. The limited awareness, particularly in emerging nations, as well as lack of supporting infrastructure and the high cost of establishing and monitoring smart bin infrastructure, are among the primary issues limiting the growth of the market.
The COVID-19 pandemic has had a significant impact on the global economy, and the smart trash bin market has not been immune to its effects. One of the main impacts of the pandemic on the market has been the delay or cancellation of smart city initiatives. Many cities around the world have had to put their smart city plans on hold as they deal with the immediate challenges of the pandemic. However, along with these challenges, the pandemic has also created new market opportunities. As more people prefer work from home and spend more time in their local communities, there is a greater need for effective waste management solutions.
Smart Trash Bin Market Segmentation
Grand View Research has segmented the global smart trash bin market report based on capacity, sales channel, end-user, operation, compartment and region.
Smart Trash Bin Market – Capacity Outlook (Revenue, USD Million; 2017 – 2030)
Smart Trash Bin Market – Sales Channel Outlook (Revenue, USD Million; 2017 – 2030)
Smart Trash Bin Market – End-User Outlook (Revenue, USD Million; 2017 – 2030)
Smart Trash Bin Market – Operation Outlook (Revenue, USD Million; 2017 – 2030)
Smart Trash Bin Market – Compartment Outlook (Revenue, USD Million; 2017 – 2030)
Smart Trash Bin Market – Regional Outlook (Revenue, USD Million; 2017 – 2030)
List of Key Players of Smart Trash Bin Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research’s Next Generation Technologies Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg
SOURCE Grand View Research, Inc.
Source link
[ad_2]
The content is by PR Newswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.
[ad_2]
[ad_1] Nørresundby, 26 April 2024Announcement no. 23/2024 The Board of Directors of RTX has, cf. company announcement no. 20/2023 dated…
[ad_1] Gyroscope Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033 The Business Research Company's Gyroscope Global…
[ad_1] ODISHA, India, and LOS ANGELES, Calif., April 25, 2024 (SEND2PRESS NEWSWIRE) — In the 1880s, to call attention to…
In support of Hong Kong's new mega tourism and commerce drive, Alipay+ now enables users of 14 leading overseas mobile…
[ad_2] TOKYO, April 26, 2024 /PRNewswire/ -- KLab Inc. announced that its hit 3D action game Bleach: Brave Souls has…
[ad_1] CALGARY, Alberta, April 24, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of TransAlta Corporation (TSX: TA) (NYSE: TAC)…