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Smart Parcel Locker Market Size Worth USD 1,833.9 Million By 2029 | Report By Fortune Business Insights
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 12.5% |
| 2029 Value Projection | USD 1,833.9 Million |
| Base Year | 2021 |
| Smart Parcel Locker Market Size in 2021 | USD 722.1 Million |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 140 |
| Segments covered | Component; Deployment; Type; Application; |
| Smart Parcel Locker Market Growth Drivers | Rise in E-Commerce Deliveries to Drive Market Growth |
| Locker Capacity Constraint is Expected to Limit Market Expansion |
Expansive Growth in Online Shopping & E-commerce during COVID-19 to Spur Growth
The COVID-19 pandemic has dramatically modified the retail industry. The preliminary onset of coronavirus has startled the brick and mortar vendors for choosing digital platforms and to fast-track incorporating multichannel strategies to safeguard rising deliveries. The consumers became more comfortable with online shopping due to its hassle-free services such as effortless returns, free deliveries, cash on delivery payment, among others. Consequently, with an augmented growth in online shopping and increasingly developing e-commerce amid pandemic, the market is set to observe an elevated boom.
Click here to get the short-term and long-term impact of COVID-19 on this Market:
Drivers and Restraints:
Upsurge in E-Commerce Deliveries to Fuel the Smart Parcel Locker Market Growth
The drastically developing online retailing trend is rising e-commerce demand. Over a few years, numerous corporations observed growth in delivery volumes. Various industry segments, such as food and beverages, apparels and accessories, personal care, and consumer electronics goods, perceived sharp growth in their parcel delivery volume. Brick and mortar retail stores are now moving toward e-commerce and digital platforms to distribute products to consumers.
Regional Insights:
North America to Lead Backed by Rising Parcel Deliveries
North America holds the largest smart parcel locker market share, owing to the escalation in the number of parcel deliveries due to exponential growth of online shopping across the region.
Asia Pacific is anticipated to grow at a quick pace, owing to the rising number of online buyers and government programs to develop smart cities.
Smart parcel lockers signify an essential, countrywide, developing digital infrastructure of the future, and Germany and the U.K. are about to turn out to be the biggest parcel locker nations in Europe as a consequence of millions of pounds of capitalization.
Competitive Landscape:
Prime Players Sign Considerable Agreements to Make Noteworthy Alterations in Market
The players functioning in the market of smart parcel locker often employ various tactics that will benefit the market growth and product demand. Among the pool of stratagems, one such remarkable strategy to inflate the business prospect is signing multimillion agreements with government bodies and safeguarding a profitable revenue for their own company.
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Report Coverage:
The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the estimated size of the market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy.
Segments:
Increasing E-commerce and Logistics to Thrust Hardware Demand
Based on component, the market is categorized into hardware, software, and services.
The hardware segment captured maximum market share in 2021 and is expected to preserve its dominance during the forecast period.
Majority Safety and Ease of Admission to Fuel Demand for Indoor Locker
Based on deployment, the market is categorized into indoor and outdoor.
Indoor deployment of smart lockers is greatest in comparison with outdoor deployment as the price of an outdoor locker is three times greater than an indoor model.
Rising Scalability to Thrive Modular Parcel Lockers Segment Share
Based on type, the market is divided into modular parcel lockers, cooling lockers for fresh food, postal lockers, and laundry lockers.
Modular parcel locker holds the largest market share; where, cooling lockers for fresh food is predicted to be the quickest rising locker type.
Surging Online Shopping to Improve Commercial Building Segment Share
Based on application, the market is divided into commercial buildings, condos and apartments, retail BOPIS, universities and colleges, others (post offices, parking areas).
The installation of progressive parcel lockers is largest in and around commercial buildings; however, retail BOPIS are projected to upsurge deployment of smart lockers in their premises in the forthcoming years.
The global market scope is classified across five regions, North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
List of Key Players Mentioned in the Report:
- Ricoh Group (Japan) Quadient SA (France) TZ Limited (Australia) Pitney Bowes Inc. (U.S.) KEBA Group AG (Austria) Cleveron (Estonia) LUXER Corporation (U.S.) ParcelPort Solutions, Inc. (Canada) Hollman, Inc. (U.S.) Shenzhen Zhilai Sci and Tech Co. (China)
Access Full Report:
Major Table of Contents:
- Introduction
- Definition, By Segment Research Methodology/Approach Data Sources
- Macro and Micro Economic Indicators Drivers, Restraints, Opportunities and Trends Impact of COVID-19
- Short-term Impact Long-term Impact
- Business Strategies Adopted by Key Players Consolidated SWOT Analysis of Key Players Global Smart Parcel Locker Key Players Market Share Insights and Analysis, 2021
- Key Findings By Component (USD)
- Hardware Software Services
- Indoor Outdoor
- Modular Parcel Locker Cooling Lockers for Fresh Food Postal Lockers Laundry Lockers
- Commercial Buildings Condos and Apartments Retail BOPIS Universities and Colleges Others (Post Offices, Parking Areas, etc.)
- North America South America Europe Middle East & Africa Asia Pacific
- Key Findings
toc continued...!
About Us:
Fortune Business InsightsTM offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
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