Smart Trash Bins Market Drivers and Key Players Strategies Analyzed Till 2028
The world is grappling with the problem of waste management and on the other hand, the number of smart city projects across the world is growing at a rapid pace. As a combination of both the parameters of growth in urbanization and globalization, the demand for smart trash bins is increasing at a rapid pace.
[USPRwire, Tue May 21 2019] Taking into account the important procedures associated with waste management, such as waste collection, transportation, disposal, and treatment, manufacturers of smart trash bins are introducing products with innovative features to perform these procedures. In addition, rapid developments in technologies contribute greatly to improve the functionality and convenience of using smart trash bins. The Smart Trash Bins Market is expected to grow at a rapid pace with constant developments in technologies; a mounting number of market players are launching unique and efficient smart trash bins to gain a competitive edge.
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On one hand, the world is grappling with the problem of waste management and on the other hand, the number of smart city projects across the world is growing at a rapid pace. As a combination of both the parameters of growth in urbanization and globalization, the demand for smart trash bins is increasing at a rapid pace. Leading market players active in the smart trash bins market are focusing on various prospects of waste management while addressing the rise in global demand for smart trash bins.
Furthermore, increasing awareness about the needs for disposing of waste and its association with the safety of environment remains a major contributor to the growth of the smart trash bins market. End-users are becoming conscious about various aspects of waste management, and manufacturers of smart trash bins are further improving the features of their products to ensure the safety of the environment. This is expected to aid manufacturers and distributors of smart trash bins to improve their sales and achieve a stronger position in the smart trash bins market.
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While waste management services have gained significant importance in city planning, current operating standards have proven to be highly resource-intensive and inefficient. This is mainly due to use of outdated and manual waste collection techniques, as well as logistical processes that lack effective data-driven waste management and collection solutions. Governments, policymakers, and the waste management industry is focusing on developing and implementing smart, IoT-based techniques and solutions to address these pressing challenges.
According to National Environment Agency, over 7 million tonnes of solid waste was generated in 2017. In addition, the amount of waste recycled dropped from 4.77 million tonnes in 2016 to 4.72 million tonnes in 2017. These statistics have been a stark reminder for governments that efficient, tech-based waste management solutions are the need of the hour. Fortunately, some governments have been quick to assess the situation, and investment in smart waste management solutions has witnessed a spike. The City of Baltimore’s US$ 15 million funding to Ecube Labs Co. Ltd. is a case in point.
With the growing need for effective waste management across countries, major manufacturers are focusing on allocating their investments towards developing innovative and smart trash bins to offer effective and convenient waste management solutions. Notable examples include,
Radiostudio Tech Pvt. Ltd. is focused towards incorporating smart features in the trash bins such as LoRaWAN devices, which enables the city authorities to monitor and maintain cleanliness in the cities.
Compology, a San Francisco-based startup has developed sensors that monitor the garbage levels and notify the garbage removal trucks. These sensors are incorporated with the Dubbed Waste operating system that offers real-time information pertaining to dumpster capacity and historical usage data.
Joseph Joseph, a prominent houseware manufacturer based in the U.K. has developed trash compactor – Titan 30, which offers a hygienic compaction system. This trash compactor is equipped with the anti-tear design, which will not pinch or stretch the replaceable odor filter to neutralize the unpleasant smell of the bins.
With the incorporation of the innovative features and robust designs, manufacturers are narrowing their focus towards incorporating smart features along with robust designs to offer enhanced waste management and disposal solutions to the end users.
In order to pace up with the growing requirements of the city authorities and citizens, prominent manufacturers are diverting their investment towards integrating advanced technology to offer intelligent features in the trash bins. Notable examples include,
Foshan Shunde Smart Intelligent Technology Co., Ltd., a professional manufacturer of the smart cans has incorporated intelligent technological features such as ‘Near Trigger Zone’, which utilizes infrared trigger technology to detect the hand or object and automatically opens the trash bin. With the incorporation of such features, the end users do not need to touch the trash bins while disposing of waste.
Ecube Labs, a prominent manufacturer of smart and connected waste bins has developed novel smart trash bins such as CleanFLEX, equipped with wireless ultrasonic fill-level sensors. These sensors monitor the fill level of the trash bins and send waste accumulation and management data to the city authorities through the cloud platform. Incorporation of the cloud-based monitoring features and data platform analytics allow the city authorities monitor the quantity of liquid and solid waste.
Manufacturers are focusing on aligning with the growing requirements of the citizens as well as government regulations to remain at the forefront of the competitive market. To pace ahead of the competitors in the market, market leaders are engaging in collaborations and launching intelligent and novel waste management solutions. For instance, Joseph Joseph has developed a waste separation & recycling unit to offer convenient and effective waste management solutions, which enables flexibility in splitting the waste from recyclable trash through different compartments.
Also, a global technology solutions provider, Arrow Electronics has recently signed a collaboration with a leading telecommunications company. In collaboration, the companies will focus on leveraging the sunset-to-sensors technology for developing connected and smart trash pallets. The companies will concentrate on integrating IoT features, wireless connectivity, and sensors in a range of trash bins to offer effective, hygienic, and convenient waste management solutions in various countries.
Overall, market leaders and prominent manufacturers are focusing on allocating their investments to develop novel and effective waste disposal and management solutions. Through offering intelligent waste management solutions and products, manufacturers are concentrating on improving their brand identity and improve their customer touch point.
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