Global Smart Parcel Locker Market Size Was Worth US$ 601.1 Million in 2020, and It Is Estimated To Reach a Valuation of US$ 1505.4 Million by The End of 2028

Octomber 04, 2021, New York, USA - Smart Parcel Locker Market: Introduction

Smart parcel lockers are an extremely popular and fascinating solution for a reliable last-mile delivery method. Smart parcel lockers are often referred to as smartly packaged lockers. It's an electronic locker controlled by a computer. It is utilized for electronic concierge delivery of parcels which permits receivers to access mail and parcels anytime. Smart parcel lockers provide a central point of delivery that increases your chain of custody and allows the ability to track audits. They provide immediate notifications by text or email to the customer the package was delivered.

Smart lockers are computerized systems that allow companies to store their parcels. They offer safe access to inventory and assets that are located in distant and close areas to users by notifying them automatically of information regarding their parcel. They also help retailers reduce the cost of last-mile delivery and permit them to make use of the stock in their stores. The world is experiencing an unprecedented crisis in the history of mankind. About a third of the global population is locked down. The only way to escape is staying at home, and social distancing is the only option to stop the further effects.

This has led to enormous demand and a rush to stock up on essential items like medicine and groceries. This has increased the possibility of spreading infections due to person to people contact even when the essentials are shipped to home. People-to-person contact is an important risk aspect for coronavirus; therefore, for companies to function, it is essential that they have an alternative to contact with their customers. The case of "a pizza delivery boy tests positively for coronavirus," which results in the isolation of 17 employees, is an illustration of an occurrence.

The Global Smart Parcel Locker Market Forecast:

The Smart Parcel Global Locker Market Size was worth US$ 601.1 million in the year 2020 and is projected to grow by US$ 1505.4 million by the year 2028 at an average CAGR of 12.16% over the Forecast Between 2021 and 2028.

The growing popularity of e-commerce is causing parcel delivery companies to embrace advanced technology to increase customer satisfaction through providing secure and reliable parcel delivery services. The increased focus on providing optimal solutions to their customers is driving companies to offer advanced solutions that could be beneficial to the global smart parcel locker market's development in the coming years. This Global Smart Parcel Locker Market report offers a comprehensive analysis of the market. The report gives a comprehensive analysis of the most important segments as well as trends, drivers as well as restraints, and the competitive landscape, as well as elements that play an important role within the marketplace.

Market Overview of the Global Smart Parcel Locker Market:

Growing E-commerce platforms can help the growth of markets. Following the COVID-19 pandemic, there has been a massive increase in the popularity of online platforms all over the world. For instance, as per The E-commerce Trends Report 2020, the platforms on the internet saw an order volume rise of 17% following the pandemic. While the world is struggling with the impact of the coronavirus novel as well as the changing habits of consumers, buying habits and preferences have led to an increase in sales made online. This has resulted in the requirement for effective parcel management solutions from companies driving the demand for smart parcel lockers across the globe. In addition, the increased desire to provide the best solutions to their clients is pushing the businesses to offer advanced solutions that are expected to bode well for the smart parcel locker market's expansion over the next few years.

Additionally, the increasing demand for post and parcel industries to boost growth. The growing popularity of e-commerce is causing companies that deliver parcels to adopt advanced technology that can improve customer satisfaction by offering reliable and secure parcel delivery services. Furthermore, offering services like free delivery and free costs for shipping is causing the growth of the parcel and post industry around the world. For instance, as per the report from the Parcel Shipping Index by Pitney Bowes, the volume of parcels increased by around 17% in the year 2016 and has since seen a significant increase. The increasing use of advanced technology, like smart cooling lockers throughout the food and beverages industry to store and supply fresh food items, is another reason that will likely boost the market for smart parcel lockers worldwide expansion in the coming years.

Additionally, the growing use of smartphones and the internet around the world has allowed consumers to purchase goods from different countries. This will bring about a substantial increase in the volume of parcels being shipped. In addition, to prevent delays and failed delivery, retailers are focusing on the importance of using smart parcel lockers.

However, factors like increasing concern about cyber security risks are expected to limit the growth of the market all over the world during the coming time. Furthermore, the entry of new competitors into the market could cause a decrease in the market share of the leading players. Furthermore, technological advances in smart parcel lockers and increasing demand in emerging nations are some of the elements that will create the potential market.

The Key Market Segmentation of the Smart Parcel Locker Market: 

Global Smart Parcel Locker Market can be divided into Product Types, Applications, and Geographical landscapes, etc. 

Smart Parcel Locker Market Segmentation By Product Type:

Indoor

Outdoor

Smart Parcel Locker Market Segmentation By Application:

Retail

Family

University

Office

Other

Smart Parcel Locker Market Segmentation By Geographical Landscape:

North America

Europe

Asia Pacific

South America

The Middle East and Africa

Major Key Players in the Global Smart Parcel Locker Market Are:

Quadient (Neopost)

Parcel Port

Florence Corporation

Zhilai Tech

Hollman

Cleveron

KEBA

TZ Limited

Luxer One

American Locker

The Global Smart Parcel Locker Market Report Highlights:

Based on the type of product, the market is divided into two segments: Outdoor and Indoor. The indoor segment had the majority of Smart Parcel Locker's market share in the year 2016. The popularity of these terminals in the indoor space can be attributed to the lower risk of burglary and vandalism.

Based on the application, the market is split according to Application into Retail, Family, University, Office, and Other. The retail segment is anticipated to lead the market over the forecast time. Smart parcel lockers enable the retail sector to implement less expensive, faster, and more efficient delivery strategies.

Based on Geography, The Global Smart Parcel Locker Market is divided into four categories: North America, Europe, Asia Pacific, and the Rest of The World. North America is expected to be at the top of the line and be the top player in the world marketplace for smart lockers over the coming years. This is due to the growing use of modern parcel-management tools by well-known e-commerce firms, which are expected to boost the demand for advanced smart parcel lockers within the region in the years between 2020 and 2027.

On the other hand, Europe is expected to be in the second spot in the global market because of the existence of established logistics networks in the region.