Selbyville, Delaware , Nov. 13, 2023 (GLOBE NEWSWIRE) -- Parcel Sorting System Market will cross a valuation of USD 3.7 billion by 2032, according to the latest report by Global Market Insights Inc.
The industry growth is driven by the surge in e-commerce activities. The convenience of online shopping has led to a surge in parcel volumes, creating a need for faster and advanced sorting systems. The COVID-19 pandemic accelerated the shift towards online retail, resulting in even greater demand for efficient solutions. Furthermore, environmental concerns and the need to reduce carbon footprints have driven the adoption of eco-friendly sorting technologies. As a result, e-commerce and delivery companies are focusing on sustainable and energy-efficient solutions as many manufacturers offer state-of-the-art sorting systems, favoring the market outlook.
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The software segment is expected to witness parcel sorting system market growth through 2032 as advanced algorithms and data analytics are revolutionizing sorting processes, making them faster, more accurate, and cost-efficient. These software solutions help in route optimization, package tracking, and predictive analytics, allowing companies to enhance their operational efficiency while providing customers with real-time information. As businesses aim to streamline their logistics and meet the increasing demand for same-day or next-day deliveries, software has become an indispensable part of the parcel sorting process.
The parcel sorting system market from transportation & logistics sector will record strong CAGR from 2023 to 2032. These companies rely heavily on the timely and efficient processing of parcels to maintain their supply chains and meet customer expectations. With the increase in e-commerce and online shopping, the logistics industry is under pressure to expedite deliveries and reduce transit times. Parcel sorting systems offer a solution to this challenge, helping transportation companies manage their operations more effectively. Moreover, as competition intensifies, these businesses are looking for ways to reduce operational costs and minimize errors. The symbiotic relationship between the parcel sorting system providers and the transportation & logistics sector will continue to drive the market growth.
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Asia Pacific parcel sorting system market will garner massive revenues by 2032. The rapid economic development, the proliferation of e-commerce platforms, and the increasing middle-class population are driving the demand for efficient parcel sorting solutions. Moreover, the governments in this region are investing in infrastructure development, which includes the expansion and modernization of logistics networks. As a result, the companies are actively expanding their presence to leverage opportunities in APAC industry.
Some of the key players in the global parcel sorting system market are Beumer Group, Equinox, Daifuku Co. Ltd, Pitney Bowes Inc, Dematic, Vanderlande Industries B.V., Interroll GroupKoerber AG, and Honeywell International Inc. These companies are working on the development of new products, partnerships, and mergers to create a better position for themselves in the industry sphere.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
