The global smart parcel locker market was valued at USD 542.8 Million in 2019 and is projected to reach USD 1743.9 Million by 2027, expanding around a CAGR of 16% during the forecast period. 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.
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.
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.
Based on 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.
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.
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Additional company profiles can be provided on request.
Yes, the report covers volume details of products.
According to this Growth Market Reports report, the market from smart parcel locker is likely to register a CAGR of approximately 16.0% during forecast period 2020-2027, with an anticipated valuation of USD 1,743.9 million by the end of the 2027.
In addition to market size (in USD Million), market volume (in 000’ Units) and Company Market Share (in % for base year 2019), other data such as Pricing analysis for year 2017 to 2027 (estimated pricing analysis) is provided, is available in final report.
Automation is making its way in applications across various industries. Increasing need to implement effective supply chain for retail and logistics is creating lucrative opportunities for smart parcel lockers. Moreover, increasing penetration of e-commerce globally is driving the demand for these lockers are key factors driving the smart parcel locker market growth.
Business are the key end-user that are driving the smart parcel locker market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to decline between 2019 and 2020 owing to the considerable impact of COVID-19 pandemic on the smart parcel locker market.
The base year considered for the global smart parcel locker market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2021 to 2027.
Major Manufactures 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.
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