The smart bin market is estimated to grow USD 0.8 billion by 2025, at a CAGR of approximately 24%. The future of the smart bin market creates new prospects in the residential and commercial building industry. The smart bin market is expected to decline in 2020 due to COVID-19 and is expected to recover in 2021. The major growth drivers for this market are increasing demand for smart cities, and an increase in usage of wireless connecting devices and Internet of Things (IoT).
APAC is the fastest growing region due to growth of the semiconductor industry in the China, and Japan. Solar and battery powered type are the two type of smart bin used in residential and commercial building industry.
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Bigbelly, Ecuba Labs, Enevo, SmartBin, Nordsense are among the major manufacturers of smart bin market.
Market Investigate, a leading market research firm has analyzed growth opportunities in the smart bin market. In this study, 2019 has been considered as the base year to estimate the size of the smart bin market. The report provides a forecast from 2020 to 2025. Report provides the size and growth potential of the smart bin market across different segments, such as product type, capacity, application, and region. It also analyzes drivers, restraints, opportunities, and challenges influencing the growth of the smart bin market.
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