The global smart parcel locker market size is expected to reach USD 1,630.2 million by 2028, exhibiting a CAGR of 12.4% during the forecast period. The booming post and parcel industry is likely to boost the adoption of advanced smart parcel lockers across the globe. This information is published by Fortune Business Insights in its latest report, titled, “Smart Parcel Locker Market, 2021-2028.” The report further observes that the market stood at USD 644.8 million in 2020.
List of the Players Profiled in the
Global Market for Smart Parcel Locker:
- TZ Limited (New South Wales, Australia)
- CleverBox Co. (London, U.K.)
- Smartbox Ecommerce Solutions Pvt. Ltd. (UP, India)
- Abell International Pte. Ltd. (Singapore)
- Package Nexus (California, U.S.)
- Mobiikey Technologies Pvt. Ltd. (Karnataka, India)
- DeBourgh Manufacturing Co. (Colorado, U.S.)
- KEBA AG (Linz, Austria)
- Quadient (Bagneux, France)
- RENOME group (New York, U.S.)
- Vlocker (Colorado, U.S.)
- ALPHA Corporation (Virginia, U.S.)
- Kern Limited (UK)
- Shenzhen Zhilai Sci & Tech Co., Ltd. (China)
- Patterson Pope (Carolina, U.S.)
- Snaile Inc. (Ontario, Canada)
- American Locker (Texas, U.S.)
- Parcel Port Solutions, Inc. (Ontario, Canada)
What does the Report
Provide?
The market report
includes a qualitative and quantitative analysis of several factors, such as
the key drivers and restraints that will have an impact on the market.
Furthermore, the report includes significant insights into the regional
insights that include different regions, which are contributing to the market
growth between 2021 and 2028. It consists of the competitive landscape
involving the leading companies and the adoption of strategies by them to
introduce new products, announce partnerships, collaborate, and acquire other
companies that will contribute to the market growth. Moreover, the research
analyst has adopted several research methodologies to obtain information about
the current trends and industry developments that will drive the market growth
during the forecast period.
Driving Factor:
Rising Post and Parcel Industry to Promote
Growth
The growing e-commerce industry is propelling parcel delivery
companies to adopt advanced smart technologies to enhance customer satisfaction
by providing reliable and secure parcel services. Additionally, offerings such
as free delivery and no shipping charges lead to the rising post and parcel
industry across the globe. For instance, according to the Parcel Shipping Index
by Pitney Bowes report, parcel volumes surged by about 17% in 2016 and have
since experienced considerable growth. The growing adoption of smart technology
such as smart cooling lockers across the food and beverage sector to preserve
and provide fresh food products is another factor that is likely to boost the
global smart parcel locker market growth in the forthcoming years.
Read a Detailed Summary of This Report: https://www.fortunebusinessinsights.com/smart-parcel-locker-market-104718
COVID-19
Impacts
Lockdown to Lead to Lower Growth at
11.1% CAGR in 2020 amid COVID-19
The first half of 2020 led to reduced sales revenue due to the
lockdown announced by the government agencies that halted operations of several
industries. However, the second half of the pandemic witnessed a massive spurt
in online sales. For instance, according to the data by Salesforce Inc., the U.S.
online sales grew by over 36% in the first two weeks of December as the
customers were finishing their holiday shopping. Owing to this, the market
exhibited a declined CAGR of 11.1% in 2020.
Regional Insights
North America to Remain Dominant;
Adoption of Advanced Solutions by E-commerce Players to Stoke Demand
Among all the regions, the market in North America stood at USD
227.3 million in 2020 and is expected to remain at the forefront and hold the
highest position in the global smart parcel locker market in the forthcoming
years. This is attributable to the increasing adoption of advanced parcel
management solutions by prominent e-commerce companies, which is likely to
propel the demand for innovative smart parcel lockers between 2021 and 2028.
On the other hand, Europe is expected to hold the second position in
the market due to the presence of established logistics networks in the region.
Competitive Landscape
Product Innovation by Major Companies
to Expand Their Product Portfolio and Boost Sales Revenue
The global market for smart parcel locker is experiencing healthy
competition between several players that are focusing on developing innovative
parcel management solutions. Additionally, the adoption of strategies such as
collaborations and partnerships by other companies is expected to contribute to
the growth of the smart parcel locker market in the forthcoming years.
Industry Development:
March 2020 – Parcel Port Solutions Inc. and Artitalia Group Inc. announced their partnership to develop an advanced smart parcel locker system. Moreover, the companies launched Addobox, a smart locker that aids in facilitating pick-up of parcels in-store or purchase online for the customers.
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