Covina, CA, July 28, 2020 (GLOBE NEWSWIRE) -- The global internet of bins market accounted for US$ 0.2 billion in 2019 and is estimated to be US$ 25.7 billion by 2029 and is anticipated to register a CAGR of 60.3%
Digital advancement and the level of urbanization will boost the adoption of internet of bins across the globe. Working towards the smart city mission, cities are executing multiple smart city projects to digitally improve their infrastructure. This is will propel the demand for sensor-integrated smart bins.
The report "Global Internet of Bins Market, By Product Type (Internet of Things Control and Robot Control), By Application (Commercial and Residential), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key Highlights:
- In December 2019, Big Belly Solar Company, the global leader in smart waste solutions for public spaces, announced that it has partnered with McCarthy Capital Fund VI to recapitalize the Company and provide further cash investment to accelerate growth. McCarthy Capital, a private equity firm headquartered in Omaha, NE, manages more than US$1 billion of investment capital across its portfolio of companies and specializes in growing businesses in partnership with management teams.
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Analyst View:
Advancement in technologies drives the growth of the internet of bins market
The advent of advanced technologies such as the cloud platforms and internet of things is positively influencing the global internet of bins market. The adoption of advanced technologies in the waste management process offers real-time information which helps to enhance the operational efficiency and improve process awareness. Thus, the development of the operational efficiency of waste management systems with the integration of smart technologies is proliferating the internet of bins market.
Proliferating smart city projects provides key growth opportunity to the target market players
The growing investment for the development of smart cities by the governments of several countries has provided a key growth opportunity to the target market growth. For instance, the Ministry of Housing and Urban Affairs, Government of India, developed the smart city project in 2015. The government released total funds of US$ 29.5 billion (INR 2,01,981 crore) for 99 smart cities.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Internet of Bins Market”, By Product Type (Internet of Things Control and Robot Control), By Application (Commercial and Residential), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
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Key Market Insights from the report:
The global internet of bins market accounted for US$ 0.2 billion in 2019 and is estimated to be US$ 25.7 billion by 2029 and is anticipated to register a CAGR of 60.3%. The market report has been segmented on the basis of product type, application, and region.
- By type, the global internet of bins market is segmented into internet of things control and robot control
- By application, the target market is segmented into commercial and residential. The commercial segment is projected to hold for the highest market share in the target market, owing to widespread adoption of touch-less garbage bins in clinics, corporate offices, hotels, hospitals, retail shops, restaurants, and other public places such as malls, airports, bus & metro stations, multiplexes, and restrooms. Additionally, the demand for touch-less waste bins from the residential sector is projected to drive in the forecast period due to rising awareness or popularity of automatic trash bins.
- By region, Europe is looking forward to cut down reduce fuel consumption, unwanted costs, and curtail the emission of greenhouse gases resulting due to unplanned trips to collect waste. Due to superior recycling targets, particularly in Europe, the recycling market is set to experience incredible growth over the forecast tenure and smart waste management will act as a pillar.
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Competitive Landscape:
The prominent player operating in the global internet of bins market includes Bigbelly, Inc., Ausko Pte Ltd., SmartBin, Enevo, Ecube Labs Co., Ltd., Winnow Solutions, Smartup Cities, CleanRobotics, ISB Global, and Ausko.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Introduction
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis
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