Smart Parcel Locker Market – Global Industry Analysis and Forecast (2022-2029)

Smart Parcel Locker Market was valued at US$ 0.7 Bn. in 2021. Global Smart Parcel Locker Market size is expected to grow at a CAGR of 10.79 % through the forecast period.
Smart Parcel Locker Market Overview:
The smart parcel locker is a computerized electronic locker system used for operations such as collecting and delivering parcels. The entire intelligent parcel locker system consists of a set of lockers used for user pickup and delivery.These lockers are installed at home and work so that users can pick up their luggage at their convenience. Automatic notification of package details allows users to securely access stocks and assets from near or far locations. In addition, it helps retailers reduce last-mile shipping costs and maximize store inventory.To know about the Research Methodology:-Request Free Sample Report

The Covid 19 pandemic has made home delivery and internet orders more popular, and the rise of e-commerce and online shopping has increased parcel and package deliveries. This rapid growth has spurred the development of smart systems for managing packages delivered in a residential complex, commercial buildings, facilities, and more.
Smart Parcel Locker Market Dynamics:
Smart Parcel Locker Market Drivers:

1) Emerging postal and parcel market to drive growth: The growing e-commerce market is pushing parcel delivery companies to adopt advanced smart technology to improve customer satisfaction by providing reliable and secure parcel services. In addition, offers such as free delivery and free shipping have led to the fast-growing postal and parcel market around the world. Varied applications of smart cameras and advancements in technology are driving the global parcel lockers market. E-Commerce market expected to grow at 14.8% CAGR through the forecasted period.

2) Increasing adoption of smart technologies: Increasing adoption of smart technologies such as smart refrigerators across the food and beverage sector for the storage and delivery of fresh food has the potential to drive growth in the smart parcel locker market through the forecast period.

3) Reduction in operating costs: Demand for smart parcel lockers is increasing due to the reduction in operating costs associated with parcel delivery and the increased efficiency of first and last-mile services for logistics players.

Smart Parcel Locker Market Restrains:

Limited locker capacity that hampers the market growth: The market is struggling to keep up with the growing demand for large lockers and large lockers. Manufacturers offer custom lockers of all sizes, but the lack of large smart lockers is expected to hamper the market growth. High investment costs such as the Internet, real estate, electricity, and maintenance can also be a barrier for technological companies and negatively impact the growth of the smart parcel locker market.
Smart Parcel Locker Market Segment Analysis:
Based on Type, Modular parcel lockers dominated the market with a 35% share in 2021. The modular parcel compartment has a balanced compartment load, is easy to pack, and is flexible to use. The demand for this type of locker is also expected to be driven by minimal maintenance requirements, with increasing demand in supermarkets, retail stores, malls, and e-commerce. The retail store market segment is expected to grow at 6.1% CAGR through the forecasted period.

Fresh food refrigerators are gaining in popularity. As the tendency to eat fresh meals increases, the demand for refrigerators is increasing. The refrigerators market is expected to grow at a CAGR of 6.2% through the forecasted period. Postal Lockers and Laundry Lockers are expected to show steady growth during the forecast period

Based on the Application, The commercial building segment is expected to grow fast during the forecast period. The majority of working individuals request items to be delivered to their work addresses.

The online order is dispatched and loaded in the office lobbies and mailrooms, putting additional strain on office workers. As a result, business buildings are increasingly using intelligent parcel lockers to enhance convenience and security. The condos and apartments have the highest share in the market as it provides anytime access and excellent security of the delivered product.

Similarly, universities and colleges have implemented advanced parcel lockers to reduce the risk of theft of delivered packages and the liability of employees and students. About 43% of colleges have invested in a smart parcel locker System. 45.3% of colleges will be invested in the smart parcel locker market in the near future while 9.8% of colleges and universities are currently looking for Smart Parcel Locker systems.
Smart Parcel Locker Market Regional Insights:
The North America region dominated the market with a 28.57 % share in 2021. The North America region is expected to witness significant growth at a CAGR of 12.6% through the forecast period. North America gives the highest market share in the market. This is primarily due to the increase in parcel delivery due to the exponential growth of online shopping across the region.

In addition, major E-Commerce companies are implemented cutting-edge technology to develop a shopping experience that is convenient for their customer. E-commerce sales in North America increase by 17.5% in 2021.The United States is expected to lead the region during the forecast period. . Online shopping sales in the US increased by 19.2% in 2021. And US E-Commerce grows by 14.3% in 2021.

Asia Pacific region is expected to grow rapidly during the forecast period. China is expected to lead the region during the forecast period due to its large population and the presence of major E-Commerce companies such as Alibaba, JD.com, and Pinduoduo. In addition, the use of Indian parcel locker is expected to grow at the highest CAGR due to an increase in a government initiative to introduce advanced post office technology. In addition, the E-Commerce market is expanding rapidly, growing in population, online buying patterns, and increased investment by top players across the region.

Smart Parcel Locker market in the Asia Pacific region is valued at 0.1 Bn in 2021 and it will reach 0.3 Bn by 2029. The Smart Parcel Locker market is expected to grow at a CAGR of 14.5% through the forecast period.

South America is expected to grow its market during the forecast period due to an increase in the logistics and e-commerce market. In addition, increasing luggage theft rates in the region are driving demand for the smart parcel locker market. More than 22000 cargo thefts were reported in Brazil.

The objective of the report is to present a comprehensive analysis of the global Smart Parcel Locker Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Smart Parcel Locker Market dynamic, and structure by analyzing the market segments and projecting the Smart Parcel Locker Market size. Clear representation of competitive analysis of key players by Product type, price, financial position, product portfolio, growth strategies, and regional presence in the Smart Parcel Locker Market make the report investor’s guide.
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Global Smart Parcel Locker Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 0.7 Bn.


Forecast Period 2022 to 2029 CAGR:
10.79%
Market Size in 2029:
US $ 1.58 Bn.


 Segments Covered:
by Type
• Modular Parcel Locker
• Cooling Lockers For Fresh Food
• Postal Lockers
• Laundry Lockers


by Application
• Commercial Building
• Condos and Apartment
• Retail BOPIS
• Universities and Colleges
• Others


by Deployment
• Indoor
• Outdoor



Smart Parcel Locker Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Smart Parcel Locker Market Key Players
• 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

Frequently Asked Questions:

1] What segments are covered in the Global Smart Parcel Locker Market report?
Ans. The segments covered in the Smart Parcel Locker Market report are based on Type, Deployment, Application, and Region.

2] Which region is expected to hold the highest share in the Global Smart Parcel Locker Market?
Ans. The North America region is expected to hold the highest share in the Smart Parcel Locker Market.

3] What is the market size of the Global Smart Parcel Locker Market by 2029?
Ans. The market size of the Smart Parcel Locker Market by 2029 is expected to reach US$ 1.58 Bn.

4] What is the forecast period for the Global Smart Parcel Locker Market?
Ans. The forecast period for the Smart Parcel Locker Market is 2022-2029.

5] What was the market size of the Global Smart Parcel Locker Market in 2021?
Ans. The market size of the Smart Parcel Locker Market in 2021 was valued at US$ 0.7 Bn.