Luton, Bedfordshire, United Kingdom, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Smart Parcel Locker market.
Smart Parcel Locker Market size is projected to reach USD 1782.73 Million by 2029, growing at a CAGR of 9.4% from 2022 to 2029.
A smart parcel locker is an autonomous container technology used to store shipments or deliveries that have been ordered online and delivered. Using this technology, package delivery management is safe and practical. The industry is anticipated to be driven by the expanding online marketplace. This system is being heavily embraced by commercial buildings and multi-tenant apartments to manage tall piles of packages for several receivers. Similar to this, businesses involved in logistics and e-commerce are moving toward implementing smart technology.
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Businesses may save expenses considerably with the aid of smart lockers, and manufacturers and rental companies can benefit from the rising demand that is anticipated to propel Smart Parcel Locker market expansion throughout the projected period. Start-ups like Smart box are providing smart e-commerce lockers as a result of rising demand and digitalization trends, and these lockers are anticipated to boost the Smart Parcel Locker market over the research period.
Recent Developments
- In March 2022, Quadient SA announced a collaboration with DHL delivery network to offer smart parcel lockers in outdoor locations of Sweden. The partnership offers flexibility to the e-retailers and customers for package transactions.
- In June, 2021, Parcel Pending by Quadient, North America’s leading provider of smart locker solutions for residential, commercial, retail, and university properties in the United States and Canada, is proud to be recognized as the premier smart locker partner for Ubiquia Inc., a world leading developer of inventory and delivery management software for warehouses and mail centers.
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 9.4% |
| 2029 Value Projection | USD 1782.73Million |
| Base Year | 2021 |
| Smart Parcel Locker Market Size in 2021 | USD 794.20 Million |
| Historical Data for | 2017 to 2020 |
| No. of Pages | 120 |
| Segments covered | Component, Deployment, Type, Application and Geography |
| Smart Parcel Locker Market Growth Drivers | Increasing E-commerce and Logistics to Thrust Hardware Demand |
| Upsurge in E-Commerce Deliveries to Fuel the Smart Parcel Locker Market Growth | |
| North America to Lead Backed by Rising Parcel Deliveries |
Smart Parcel Locker Market Key Players
Few of the important Smart Parcel Locker market players TZ Limited, CleverBox Co, Smartbox Ecommerce Solutions Pvt. Ltd, Abell International Pte. Ltd, Cleveron, Package Nexus, Mobiikey Technologies Pvt. Ltd, DeBourgh Manufacturing Co, KEBA AG and Quadient.
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https://exactitudeconsultancy.com/reports/2810/smart-parcel-locker-market/
Key Market Segments: Smart parcel locker Market
Smart Parcel Locker Market by Type, 2020-2029, (IN USD Million)
- Modular Parcel Locker
- Cooling Lockers for Fresh Food
- Postal Lockers
- Laundry Lockers
Smart Parcel Locker Market by Deployment, 2022-2029
- Indoor
- Outdoor
Rise in E-Commerce Deliveries to Determination Smart Parcel Locker Market Growth
The demand for online shopping is rising due to trends that are expanding at an exponential rate. Many businesses have noticed an increase in delivery volumes over time. As an illustration, Deutsche Post DHL reported a 15% increase in packet delivery in 2020. Given the rise in business-to-customer parcel deliveries, the number of parcel shops or parcel locker outlets has expanded.
There has been a significant increase in the number of packages delivered to businesses that sell consumer electronics, clothes, and personal care products. E-commerce and digital platforms are gradually replacing traditional brick and mortar retail locations as the primary means of product delivery. Brick and mortar stores that used e-commerce platforms saw a 52% rise in conversion rates, according to Quantum Metric statistics.
Top Impacting Factors
The postal and parcel sector is also anticipated to expand throughout the projection period. As the e-commerce sector expands, parcel delivery businesses are being forced to implement cutting-edge smart technology in order to increase consumer satisfaction by offering dependable and secure parcel services. Additionally, promotions like free shipping and delivery are fueling a global postal and parcel industry boom. Another factor that is anticipated to propel the expansion of the worldwide smart parcel locker market in the upcoming years is the growing usage of smart technologies, such as smart refrigerators, throughout the food and beverage industry for the storage and delivery of fresh food.
Increasing adoption of smart lockers across e-commerce industry is boosting the demand of smart parcel locker market.
The postal and parcel sector is also anticipated to expand throughout the projection period. As the e-commerce sector expands, parcel delivery businesses are being forced to implement cutting-edge smart technology in order to increase consumer satisfaction by offering dependable and secure parcel services. Additionally, promotions like free shipping and delivery are fueling a global postal and parcel industry boom. Another factor that is anticipated to propel the expansion of the worldwide smart parcel delivery locker market in the upcoming years is the growing usage of smart technologies, such as smart refrigerators, throughout the food and beverage industry for the storage and delivery of fresh food.
The marketplace is making an effort to meet the growing demand for bigger, higher-capacity lockers. The absence of large-sized smart lockers is expected to limit the market's growth, despite the fact that manufacturers provide custom lockers with all-sized capacities. The high cost of investments in the internet network, real estate, power, and maintenance, among other things, presents another challenge for technological businesses. This will almost probably have a negative effect on the growth of the Smart Parcel Locker market. Market expansion was constrained since small and medium-sized enterprises couldn't afford to pay monthly fees for high-tech lockers.
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