The Latin America, Middle East and Africa Smart Trash Bin Market would witness market growth of 14.9% CAGR during the forecast period (2022-2028).
The growing understanding of the necessity for waste disposal and its connection to environmental safety is a key factor in the market's expansion. End users are becoming more aware of various waste management issues, and producers of smart trash bins are further enhancing the characteristics of their products to guarantee environmental safety. This is anticipated to help product manufacturers and distributors increase their sales and take a stronger foothold in the market.
Although waste management operations have become increasingly important in municipal planning, the current operational standards are both resource- and time-intensive. This is mostly because antiquated manual waste collection methods are still being used, and logistical systems lack efficient data-driven collection and management solutions for waste. As a result, governments, legislators, as well as the waste management sector are concentrating on creating and putting into use smart, IoT-based strategies and solutions to solve these urgent issues.
According to a 2018 United Nations Environment Survey, a third of the waste produced in Latin America is dumped in inappropriate places, harming water and land. According to an accurate estimate, the daily generation of solid waste will increase by 25% by 2050. In addition, in Latin America, only 10% of waste is recycled. With this in mind, Brazil established the National Solid Trash Policy (PNRS), which encourages recycling and waste reduction. It also recognizes producer responsibility, eliminates landfills, and provides for planning procedures at the national, state, and municipal levels. In addition, the legal structure of Brazil is at the level of other developed countries. As a result, the demand for waste management systems in the region has increased, benefiting the smart trash bin market.
The Brazil market dominated the LAMEA Smart Trash Bin Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,484.6 Thousands by 2028. The Argentina market is experiencing a CAGR of 15.5% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 14.6% during (2022 - 2028).
Based on End-User, the market is segmented into Commercial and Residential. Based on Sales Channel, the market is segmented into Offline and Online. Based on Capacity, the market is segmented into 14 to 23 gallon, 8 to 13 gallon and above 23 gallon. Based on Operation, the market is segmented into Automatic and Semi-Automatic. Based on Compartment, the market is segmented into Multi-compartment and Single-compartment. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Smart Trash Bin Market is Projected to reach USD 125.4 Million by 2028, at a CAGR of 12.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ausko Pte Ltd, iTouchless Housewares and Products, Inc., Ecube Labs, Simplehuman, EKO North America, EvoEco, CleanRobotics Technologies, Inc., Home Depot, Inc., Sensortec s.r.o. (Binology.com), and Big Belly Solar, Inc.
By End-User
By Sales Channel
By Capacity
By Operation
By Compartment
By Country
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