The global smart trash bin market is anticipated to grow at a considerable CAGR of 8.2% during the forecast period. The changing lifestyle and growing urbanized population are driving the growth of the smart trash bin market across the globe. People are more attracted to modern household appliances which made their house look modern and also advanced technology also made their work easy and quick which is the major factor that is driving the growth of the global smart trash bin market during the forecast period. The consumption of smart trash bins is increasing in residential areas. Many companies are using artificial intelligence technology in smart trash bins to make them a bit more convenient to use and technologically advanced. The rising demand for artificial intelligence technology among the people made many key players implement AI in their smart trash bins.
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The demand for AI-based trash bins is not only rising in residential areas but the government is also willingly using AI technology to keep the surroundings clean and healthy. For instance, in January 2020, Kitro introduced an AI rubbish bin. Kitro’s smart food bin records everything that’s thrown into it. The camera and AI system provide a detailed picture of waste. It could cut food waste by 40%, according to its makers. Moreover, in May 2019, San Francisco signed an agreement with Nordsense, an artificial intelligence (AI)-based waste management Technology Company based in Sunnyvale, Calif., to install 1,000 multi-point reference sensors in trash bins along major commercial corridors. Additionally, in March 2019, Winnow Vision launched an AI-powered bin that aims to cut down on food waste. Winnow Vision uses a camera and smart scales to keep track of what types of food are being thrown away too often, helping restaurants to save money, and the environment.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Type
o By Technology
o By Applications
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape – iTouchless Housewares and Products Inc., Honey-Can-Do International, LLC, Busch Systems International Inc., Nine Stars Group (USA) Inc., The EKO Group, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Smart Trash Bin Market Report Segment
By Type
- Sensor Trash
- Automatic Motion Trash
- Waste Tracking
By Technology
- Image Recognition
- Artificial Intelligence
- Internet of Things (IoT)
By Application
- Residential
- Commercial
