Smart Parcel Locker Market Projected To Surpass Us$ 1.274 Billion By 2028

(MENAFN- EIN Presswire)

The smart parcel locker market is projected to grow at a CAGR of 13.84%, reaching US$1,274.291 million in 2028 from US$514.286 million in 2021.

The smart parcel locker market is projected to grow at a CAGR of 13.84%, reaching US$1,274.291 million in 2028 from US$514.286 million in 2021.” - Knowledge Sourcing IntelligenceNOIDA, UTTAR PRADESH, INDIA, September 5, 2023/EINPresswire/ -- According to a new study published by Knowledge Sourcing Intelligence, the smart parcel locker market is projected to grow at a CAGR of 13.84% between 2021 and 2028 to reach US$1,274.291 million by 2028.

The prime factors propelling the smart parcel locker market growth are the increasing demand for efficient and secure package delivery solutions in the era of e-commerce expansion, the need for contactless and convenient parcel retrieval options, and the growing emphasis on reducing last-mile delivery costs and environmental impact through smart and automated delivery systems.

Smart parcel lockers are secure, automated storage systems that enable the efficient and convenient delivery and retrieval of packages and parcels. They are typically used in residential buildings, workplaces, retail locations, and public spaces to address the challenges of package delivery in the age of e-commerce. Users receive notifications and unique access codes to access their lockers, ensuring secure and contactless parcel management while enhancing convenience for both recipients and delivery providers. These lockers are equipped with technology to track deliveries, manage access, and optimize last-mile delivery operations, making them a valuable solution for the evolving logistics landscape.

The market is witnessing multiple collaborations and technological advancements, for instance in Oct 2022 Aeropost launched a smart parcel locker network to address e-commerce growth and distribution challenges. This solution offers convenience, contactless delivery, and technology for varientities, including governments, embassies, financial institutions, large organizations, and SMEs, handling items like identification cards, passports, and products sold online.

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Based on type, the smart parcel locker market is divided into Indoor and Outdoor. The outdoor segment of the smart parcel locker market is experiencing major growth primarily because of the increasing emphasis on contactless and convenient parcel delivery and retrieval options, particularly in densely populated urban areas. Outdoor lockers provide 24/7 accessibility, allowing consumers to collect their packages at their convenience, which is especially important as e-commerce continues to surge. Moreover, outdoor lockers are favored for their ability to accommodate larger parcels and the scalability they offer to meet the rising demand for efficient last-mile delivery solutions, driving substantial growth in this market segment.

Based on components, the smart parcel locker market is divided into Hardware and Software & services. The software and services segment of the smart parcel locker market is experiencing significant growth owing to the increasing demand for advanced management and monitoring solutions. As the parcel locker ecosystem becomes more sophisticated, businesses and logistics providers require software platforms and services to efficiently manage and optimize locker networks, track deliveries, and provide users with a seamless experience. This growth is driven by the need to enhance operational efficiency, security service , and customer convenience in the rapidly evolving e-commerce and last-mile delivery landscape.

Based on Geography, North America is poised to maintain a substantial share of the global smart parcel locker market due to factors such as the region's robust e-commerce ecosystem, the increasing demand for secure and efficient last-mile delivery solutions, and the growing adoption of smart technologies in urban areas. With a foon enhancing convenience and reducing delivery costs, North American businesses and consumers are driving the continued expansion of smart parcel locker network service , positioning the region as a key player in the worldwide market.

As a part of the report, the major players operating in the smart parcel locker market that have been covered are Smartbox Ecommerce Solutions Pvt. Ltd., eLocker Ltd., Pitney Bowes Inc., Cleveron, KEBA, Hollman Inc., TZ Limited, Parcel Pending LLC (Quadient SA), Ricoh, and TZ Limited and VSGate among other significant players in the market.

The analytical report segments the smart parcel locker market on the following basis:

.By Type

oIndoor
oOutdoor

.By Component

oHardware
oSoftware and Services

.By Geography

oNorth America

.USA
.Canada
.Mexico

oSouth America

.Brazil
.Argentina
.Others

oEurope

.Germany
.France
.United Kingdom
.Spain
.Others

oMiddle East and Africa

.Saudi Arabia
.UAE
.Israel
.Others

oAsia Pacific

.China
.Japan
.India
.South Korea
.Indonesia
.Taiwan
.Others

Companies Profiled:

.Smartbox Ecommerce Solutions Pvt. Ltd.
.eLocker Ltd.
.Pitney Bowes Inc.
.Parcel Pending LLC. (Quadient SA)
.Ricoh
.Cleveron
.KEBA
.Hollman Inc.
.TZ Limited
.VSGate

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Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698

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