(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Dec. 29, 2023 (GLOBE NEWSWIRE) -- The "Smart Locker market by Offering (Hardware, Software, Services), technology (RFID, Electronic, Mobile, Biometric, Cloud), Deployment (Indoor, Outdoor), Application (Day, Parcel, Staff, Asset Management), End-Use Industry, Region - Global Forecast to 2028" report has been added to ResearchAndMarkets's offering. The global smart locker market was valued at USD 2.1 billion in 2023 and is estimated to reach USD 3.6 billion by 2028, registering a CAGR of 11.6% during the forecast period.
The growth of the smart lockers market is propelled by the surge in e-commerce activities, increasing urbanization and population density, demand for contactless solutions, and advancements in technology such as IoT and RFID integration. These factors collectively drive the adoption of smart lockers, offering secure and efficient parcel delivery solutions in response to last-mile delivery challenges and the need for streamlined package management.
Cloud based technology is expected to grow at a significant CAGR during the forecast period.
The rapid growth of e-commerce and online shopping requires constant update in the smart infrastructure. Cloud technology allows for easy scalability. As the demand for smart lockers grows, cloud-based systems can scale up or down seamlessly without the need for significant infrastructure changes. This flexibility supports businesses as they expand or adapt to changing requirements, cloud-based systems typically offer robust security features, such as encryption and secure authentication, to protect user and system data. Integration with other cloud services and remote updates and maintenance further enhances the functionality and efficiency of smart locker systems, ensuring they remain up to date and secure. Cloud-based technology plays a central role in making smart lockers highly adaptable, efficient, and user-friendly for diverse applications in various industries
Office segment is projected to contribute significant share in the smart locker market.
Smart lockers have become indispensable in office sectors, encompassing both corporate environments and government settings as well as the Banking, Financial Services, and Insurance (BFSI) sector. These lockers serve critical functions in these workplaces by providing secure solutions for the storage of sensitive documents, confidential information, and personal valuables, reducing the risk of unauthorized access. Employees benefit from designated spaces within smart lockers to securely store personal belongings, including bags, coats, and electronic devices during working hours, promoting organizational cleanliness. The advanced access control methods integrated into many smart lockers, such as RFID cards, biometric scanners, or mobile apps, offer a contactless and secure means for employees to access their assigned lockers.
The report provides insights on the following:
Market size from 2019 to 2028 Average selling prices (ASPs) of smart locker calculated by the weighted average method Updated research assumptions and limitations Information related to trends/disruptions impacting businesses of customers, as well as information on the ecosystem of smart locker, trade analysis, regulatory analyses, technology analysis, patents analysis, and case studies pertaining to the smart locker market. Updated financial information until 2022 (depending on the availability) for each listed company, which helps in the easy analysis of the present status of the profiled companies in terms of their financial strength, profitability, key revenue-generating regions/countries, and the highest revenue-generating business segments. Recent developments that help assess market trends and growth strategies adopted by leading market players Key manufacturers offering smart locker; top 25 manufacturers of smart locker, which are categorized into star, pervasive, emerging leader, and participant companies based on their performance on various parameters such as product footprint, focus on product innovations, and geographic footprint. Market share analysis of various players operating in the smart locker market for 2022
Small- and medium-sized enterprises (SME) matrix that brief some business strategies and product offerings of 15 SME players operating in the market, which are classified into four groups: progressive, dynamic, responsive companies, and starting blocks Brief information regarding the competitive situations and trends in the smart locker market The product, application, and geographic footprints of the top 25 manufacturers of smart locker Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the smart locker market Market Development: Comprehensive information about lucrative markets - the report analyses the smart locker market across varied regions. Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the smart locker market Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like as Ricoh, Pitney Bowes, Inc, ASSA ABLOY, Quadient, Gibraltar Industries, Hollman Inc, Bell and Howell, LLC, Cleveron among others in the smart locker market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 199 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $2.1 Billion |
| Forecasted Market Value (USD) by 2028 | $3.6 Billion |
| Compound Annual Growth Rate | 11.6% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
Electronics Segment to Dominate Smart Locker Market During Forecast Period Software Segment to Register Highest CAGR in Smart Locker Market During Forecast Period Commercial Segment to Hold Largest Market Share in 2028 North America Accounted for Largest Market Share in 2022
Premium Insights
Attractive Opportunities for Players in Smart Locker Market -Rise in E-Commerce Sales and Growing Demand for Smart Lockers in Commercial Settings and Offices Smart Locker Market, by Application -Parcel Lockers Segment to Register Highest CAGR During Forecast Period Smart Locker Market, by Offering - Hardware Segment to Account for Largest Market Share in 2028 Smart Locker Market, by End-Use Industry -Commercial Segment to Hold Largest Share of Smart Locker Market in 2028 Smart Locker Market, by Region -China to Register Highest CAGR in Smart Locker Market During Forecast Period
Market Dynamics
Drivers
Rising Integration of Different Technologies into Smart Lockers Increasing Applications of Smart Lockers in E-Commerce, Retail, and Logistics Industries High Emphasis of Organizations and Individuals on Enhancing Security of Critical Assets
Restraints
High Initial Investment and Costs
Opportunities
Rapid Urbanization and Infrastructure Development Shift Toward Health-Conscious Practices
Challenges
Space and Installation Challenges
Case Study Analysis
Canadian Pharmacy Opted for Snaile Inc.'s Smart Lockers to Ensure Secure Pickups During After-Hours Loqit Finalized Project for De Ruiter'S Bakkerij in Netherlands That Includes Installation of Loqit's Electronic Locking System, Designated for Use as Employee Lockers Quadient Deployed 200 Smart Lockers at Educational Institutions in US for Personal Storage Purposes
Companies Mentioned
ASSA Abloy Quadient Pitney Bowes Inc. Ricoh Gibraltar Industries Bell and Howell LLC Cleveron Keba Hollman, Inc. Package Nexus Shenzhen Zhilai Sci and Tech Co. Ltd Yellowbox Co Pty Ltd Loqit B.V. Metra Inzeniring D.O.O. Mobiikey Elocker Ltd Parcelport Solutions, Inc. Digilock Smartbox Ecommerce Solutions Private Ltd. Your Workspace Modern Office Systems. LLC American Locker TZ Limited Locktec GmbH Snaile Inc.
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Global Smart Locker Market
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