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Large populations in the APAC region coupled with rising disposable incomes propel the e-commerce sector which would drive the Parcel Sortation Systems market
NEW YORK, UNITED STATES, April 1, 2022 /EINPresswire.com / -- According to the new research report published by The Insight Partners, titled“Parcel Sortation Systems market to 2027 by Type (Linear Parcel Sortation System and Loop Parcel Sortation System) and End User (Logistics, E-Commerce, Food & Beverage, Post & Parcel, Airport, Pharmaceutical, and Others) – Global Analysis and Forecast', the Parcel Sortation Systems market is estimated to reach US$ 3.09 Bn by 2027 from US$ 1.32 Bn in 2018.
Strategic Insights
Report Coverage Details
Market Size Value in US$ 1.32 Billion in 2018
Market Size Value by US$ 3.09 Billion by 2027
Growth rate CAGR of 9.1% from 2019-2027
Forecast Period 2019-2027
Base Year 2019
No. of Pages 150
No. Tables 56
No. of Charts & Figures 110
Historical data available Yes
Segments covered Type and End User
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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The parcel sortation system industry has changed considerably over the past few years with technological development. Automation technology has positively impacted every end-user industry and the adoption of different automated technologies is consistently growing in both developed and developing regions. The manufacturing industry is one of the early adopters of automated technologies, which is majorly attributed to the increasing labor cost and aging population. The demand for parcel sortation systems among the end-user industries is consistently growing attributed to the fact that the manufacturing industries are rapidly increasing their production in order to meet the surging customer demands. A parcel sortation system is an integral part of any warehousing and distribution center which reduces the manual tasks of shipping and checking orders in a fulfillment operation. The ecosystem for Parcel Sortation System, involves the component providers, system integrators, consultants, and end-user of these systems.
An increase in the production volume of consumer goods is boosting the market for parcel sortation systems. Also, significant growth in the E-commerce sector is also boosting the growth of the global market. However, technological complexities associated with the use of parcel sortation systems may restrain the market growth during the forecast period. Further, growing demand for the warehouse management system and an overall reduction in the cost of parcel sortation systems are expected to deliver ample growth opportunities to the industry players in the near future.
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A highly attractive adoption rate for the parcel sortation systems market is anticipated
The global parcel sortation systems market is flourishing significantly in recent years and the same is expected to experience an exponential growth rate in the coming years. In the current market scenario, European end-users have procured the maximum number of parcel sortation systems and the end-users of parcel sortation systems in European countries are continuously investing substantial amounts in the adoption of the systems. This is primarily due to the noteworthy rise in the manufacturing of various consumer goods in different countries as well as the import activities. Secondarily, the awareness among the end-users of parcel sortation systems related to automation is also high among the European end-users. This has impacted positively on the European market size and facilitated the region to position itself on the top global parcel sortation systems market.
Market initiatives by the players is propelling parcel sortation systems market growth
The global parcel sortation systems market is heavily captured by several established companies as well as smaller tier2 companies across the globe. These companies are facilitating the parcel sortation end-users such as logistics companies, manufacturing companies as well as warehouses and distribution centers among others, to meet the constantly increasing demand for timely delivery of their parcels.
Parcel Sortation Systems Market: Competitive Landscape and Key Developments
Bastian Solutions Inc., Daifuku Co. Ltd., Dematic, Honeywell Intelligrated, Murata Machinery, Ltd., Interroll Holding GmBH, Invata Intralogistics, Beumer Group, Viastore Systems Inc., and Vanderlande Industries B.V. are among the key players in the global Fiber Optic Components market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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2019: BEUMER Group signed a $33 million agreement with Aruba Airport Authority N.V. Through the agreement, the company would offer to design and install of high-speed baggage transportation and sortation system at Aruba's Queen Beatrix International Airport.
2019: Vanderlande launched new Manufacturing and Distribution Center in Georgia (GA), USA, through the new facility customers in Los Angeles, Chicago O'Hare, Vancouver and Atlanta will be served the products.
2018: Bastian Solutions opened its newest office in Tampa, Florida. The expansion has helped by bringing local support to serve existing Bastian Solutions clients as well as the opportunity to assist new customers with their automation needs.
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