Parcel Delivery Locker Market Size to Grow at 11.6% CAGR by 2027 - Astute Analytica
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Parcel lockers are automated systems that make it easier for companies to store parcels. It offers consumers secure access to stocks and assets from near and far locations by automatically giving them details about their package. In addition, they help retailers reduce last-mile shipping costs and allow them to leverage inventory in their stores.
Automated parcel locker solutions make it simpler for businesses to store packages. The systems provide consumers with information about their packages and provide secure access to nearby and distant stocks and assets. As a result, merchants can use inventory at their locations and reduce last-mile shipping costs.
Market Dynamics
The need for parcel delivery lockers has increased as a result of the expanding e-commerce sector. Offering convenient delivery to its customers has become a must for logistics businesses. Due to trends that are growing at an exponential rate, there is a growing desire for online shopping. Over time, many businesses have observed a rise in the volume of deliveries. For instance, Deutsche Post DHL stated that in 2020, packet delivery increased by 15%. The number of parcel stores or parcel locker businesses has increased as business-to-customer parcel deliveries have increased.
Numerous other variables, such as the increase in online purchases, the changing nature of lifestyles, and low-cost delivery, also contribute to the market expansion. Supply chain and logistic service providers, as well as the retail or e-commerce sector vertical, frequently use parcel lockers. As the e-commerce sector has grown, numerous businesses have begun offering locker delivery services to their customers. Users can order packages and pick them up whenever it is convenient for them. For instance, Amazon now offers delivery to Amazon lockers. The nearest locker hub must be added by users in their address book. Users can pick up their packages using a 6-digit code provided to their registered email address after the package has been delivered.
The issue for technical enterprises is the high cost of investments in things like real estate, internet networks, power, maintenance, etc. It will almost definitely have an unfavorable influence on the industry of parcel lockers.
Future expansion of the parcel delivery market is likely to be fueled by the increasing use of technologies like gadgets, artificial intelligence, digital devices, and GPS devices.
Segmentation Summary
In terms of Application Segment
In 2020, the commercial segment dominated the global parcel delivery locker industry and is likely to retain its share over the coming years. This is due to the expanding online shopping. While the retail segment is likely to boost the deployment of lockers on their premises in the coming years, commercial buildings are the most likely to have advanced parcel lockers installed. Nearly 50% of consumers now prefer buying online and picking up in-store (BOPIS), which is an increasingly popular trend.
Concerns about package theft and porch pirates are growing along with the rise in internet shopping. Companies like Goodman Real Estate are making it easier for their employees by providing parcel lockers.
Regional Analysis
The Asia Pacific and North America region offers more opportunities and untapped potential than any other region and is likely to grow substantially over the next few years. This is mostly caused by the rise in parcel delivery as a result of the region's rapid expansion of online shopping. Leading e-commerce players are also putting cutting-edge technology to use to build convenient shopping experiences for their users.
Due to its vast population and the existence of significant E-Commerce firms like Alibaba, JD.com, and Pinduoduo, China is anticipated to dominate the area during the projected period. Additionally, the E-Commerce market is increasing quickly due to an increase in the region's population, online shopping trends, and leading players' investments.
On the other hand, Europe will project growth traction with a moderate growth rate projection to register an increase of 13-16% during 2021-2027. A parcel locker represents a nationwide, appearing digital infrastructure of the future, and the U.K. and Germany are pioneers in this area.
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Prominent Competitors
Some of the well-known competitors leading in the global parcel delivery locker market are:
Azkoyen
ALPHA Corporation
TZ Limited
Cleveron
Kern
SmarteCarte
KEBA
SwipBox
Xiamen Headleader Technology Co., Ltd.
SNBC
Vlocker
Focus Action Sdn Bhd
Other Prominent Players
Segmentation Outline
The global parcel delivery locker market segmentation focuses on Product, Application, and Region.
By Product
One Side Locker
Double Side Locker
By Application
Retail
Multi-family Housing
Commercial Mailroom Automation
Supply chain & Logistic
Postal Operators
Government
Others
By Region
North America
Asia Pacific
Europe
South America
Middle East and Africa
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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
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