Smart Parcel Market Outlook
The global smart parcel locker market was valued at USD 847.25 Billion in 2022 and is projected to reach USD 3.22 Billion by 2031 , expanding around a CAGR of 16% during the forecast period 2023-2031.
Smart parcel lockers are computerized electronic locker systems which are used for operations including pick-up and delivery of parcels. The total smart parcel lockers system is made up of a set of lockers used for the pick-up by users and delivery by users. These lockers are placed within residences or at workplaces, to help users receive their parcels according as per their convenience.
Smart Parcel Locker Market Dynamics
Advancements in technology and varied applications of smart cameras are driving the global parcel lockers market. Additionally, consumers prefer to have parcel lockers combined with features resembling smartphones, which is expected to increase the demand of parcel lockers. Reduction in operational costs associated with parcel delivery and improved efficiency over first and last mile services for logistics players has increased the demand for these lockers.
The smart parcel locker market is anticipated to expand at a significant CAGR during the forecast period. Factors such as 24x7 delivery and pick-up options available for parcel providers and receivers, ease of use, and technological connectivity are driving the market. Additionally, increasing focus of e-commerce and omni-channels to improve supply chain management is fueling the demand for smart parcel lockers.
Smart Parcel Locker Market Segment Insights
On the basis of types, the global Smart Parcel Locker Market is categorized as min. order ＜10, min. order 10-50, and min. order >50. The min. order 10-50 segment is anticipated to expand at a CAGR of around 16.0% during the forecast period, as high capacity are installed in the areas with the dense presence of population such as businesses and apartment.
The min. order >50 segment is estimated to hold over 1/3rd share of the market in 2019, as it is used in areas with the high customer presence. The min. order ＜10 segment is estimated to hold significant share of the market in 2020, as the quantity of these lockers can be increased with the installation of additional lockers on the existing panel of the lockers.
On the basis of applications, the market is segregated into condos, apartment complexes, businesses, and others. The business segment accounts for a major share of the market, as smart parcel lockers with large capacity are installed in areas of dense population, such as businesses and apartments.
Condos or condominiums are residential buildings or communities that can be purchased or rented and are similar to apartments. Condos are present in building structures and are divided into units for independent ownership.
Recently, the construction of detached condominiums for single-family homes is increasing. It has areas such as yards, corridors, building exteriors, streets, and recreational facilities that are owned and maintained by a community association. Condos are an emerging trend in the construction industry.
Apartment complexes are a series of buildings. These complexes involve a large number of apartments. The population present in these complexes is high due to the presence of large number of apartments and families leaving in these apartments. The self-contained housing units are owned by one or more owners.
Retailers and other parcel delivery service providers are installing smart parcel lockers in apartment complexes to reduce the workforce required by the logistics division of businesses. This is reducing costs and allowing the delivery persons to provide parcels in less time. Furthermore, the availability of dedicated lockers for parcels is reducing handling damages.
Business areas involve commercial spaces including offices, small businesses, and large businesses. Businesses are choosing smart parcel lockers depending on their employee strength and frequency of parcels. They are leveraging smart parcel lockers systems, as these are helping businesses save employee time, which is wasted while parcel collections. Smart parcel lockers can be divided according to product categories such as food products, letters, or other e-commerce parcels, which in turn, is increasing the demand for lockers in business areas.
The others segment includes areas other than the above-mentioned locations for the installations of smart parcel lockers. These include sidewalks, college areas, post offices, and parking areas. Areas where pick and drop of parcels are convenient for the customers and delivery persons are included in the others segment.
Regional Outlook
In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is a promising region for the market. In terms of value, Europe constituted approximately XX% share of the market in 2019. The market in the region is projected to expand at a CAGR around XX% during the forecast period due the increase in its demand. Smart parcel lockers are becoming a necessity, as a large number of consumers are purchasing them online in the US and Canada, thus boosting the market in the region.
Key Benefits for Industry Participants & Stakeholders
- In-depth analysis of the global smart parcel locker market
- Historical, current and projected market size in terms of value and volume
- Potential & niche segments and regions exhibiting promising growth covered
- Industry drivers, restraints and opportunities covered in the study
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Neutral perspective on global smart parcel locker market performance
Segments
By Types
- Min. Order ＜10
- Min. Order 10-50
- Min. Order >50
By Applications
- Condos
- Apartment Complexes
- Businesses
- Other
By Regions
- North America
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- U.K.
- France
- Germany
- Italy
- Spain
- Poland
- Rest of the Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
Key Market Players Profiled in the Report
- TZ Limited
- Patterson Pope
- DeBourgh
- KEBA
- RENOME
- Xiamen Headleader Technology Co., Ltd.
- SHENZHEN ZHILAI SCI AND TECH CO., LTD
- Locker & Lock Pte Ltd.
- ALPHA Corporation
- Cleveron AS
- Smartbox Ecommerce Solutions Pvt. Ltd.
- Snaile Inc.
- Package Nexus
- Vlocker
- Focus Action Sdn Bhd
- ABELL INTERNATIONAL PTE LTD
- VIOLANTA
- Kern Limited
- Clevtech
Competitive Landscape
- Key players in the market include TZ Limited, Patterson Pope, DeBourgh, KEBA, RENOME, Xiamen Headleader Technology Co., Ltd., SHENZHEN ZHILAI SCI AND TECH CO., LTD, Locker & Lock Pte Ltd., ALPHA Corporation, and Cleveron AS. These companies are considered manufacturers of smart parcel locker based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
- The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the smart parcel locker is added in the company’s capacity.
- In 2019, TZ limited announced partnership with goSmart, which is a newly branded and transformed BeCode UK company that provides support to electronics locking and storage solutions. Through this partnership the former company plans to increase the presence in the UK.
- In 2018, Package Nexus launched REFRIGERATED SMART LOCKERS to increase its market share and product portfolio.
- In 2019, Snaile Inc. partnered with SmartONE. Snails Inc.’s automated parcel lockers provide secure, automated pickup and delivery of parcels including perishables and laundry. SmartONE provides solutions for automated parcel lockers. This partnership is anticipated to help the former increase its production.
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