Global Smart Parcel Locker Market

Smart Parcel Locker Market Size, Share, Growth Analysis, By Component(Hardware, Software, Services), By Deployment(Indoor, Outdoor), By Type(Modular Parcel Lockers, Cooling Lockers for Fresh Food, Postal Lockers, Laundry Lockers), By Application(Commercial Buildings, Condos & Apartments, Retail BOPIS, Universities & Colleges), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45J2194 | Region: Global | Published Date: July, 2001
Pages: 270 | Tables: 118 | Figures: 76

Smart Parcel Locker Market Insights

Smart Parcel Locker Market size was valued at USD 722.1 million in 2019 and is poised to grow from USD 806.5 million in 2023 to USD 1833.9 million by 2031, growing at a CAGR of 12.5% in the forecast period (2024-2031).

A smart parcel locker is an automated containment 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 numerous recipients. Similar to this, businesses involved in logistics and e-commerce are moving toward implementing smart technologies.

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 sector for the storage and delivery of fresh food.

US Smart Parcel Locker Market is poised to grow at a sustainable CAGR for the next forecast year.

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Smart Parcel Locker Market size was valued at USD 722.1 million in 2019 and is poised to grow from USD 806.5 million in 2023 to USD 1833.9 million by 2031, growing at a CAGR of 12.5% in the forecast period (2024-2031).

The major market participants are growing their businesses through agreements and alliances. Online platforms and websites that are expanding quickly are looking for innovative ways to provide their products. Additionally, there is a greater demand for home delivery on these channels. As a result, the major suppliers strategically work with organizations that manage big numbers of packages. Additionally, these firms are concentrating on providing cutting-edge and next-generation parcel storage solutions to meet the demands of many sectors, including logistics, retail, education, healthcare, and the food and beverage industry. 'KEBA Group AG', 'Quadient SA ', 'Parcel Port', 'Package Concierge', 'TZ Limited', 'ByBox Holdings', 'Smartbox Ecommerce Solutions Pvt. Ltd.', 'Florence Corporation', 'Abell International Pte Ltd', 'American Locker Group Inc.', 'Winnsen Industry Co. Ltd.', 'LockTec GmbH', 'THORNE SECURE DELIVERY SYSTEMS LIMITED', 'DeBourgh Manufacturing Co', 'Kern AG', 'Snaile Inc.', 'Parcel Pending Inc.', 'Hanmec More Technologies Corp.', 'TESGO Inc.'

Increase in e-commerce deliveries expected to fuel market expansion over the forecast period: 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. Given the rise in business-to-customer parcel deliveries, the number of parcel shops or parcel locker outlets significantly expanded. There has been a significant increase in the volume of packages delivered to businesses that sell consumer electronics, clothes, and personal care products. E-commerce and digital platforms are increasingly being used by traditional brick and mortar retail establishments to distribute goods to customers. Brick and mortar stores that used e-commerce platforms saw a 52 percent rise in conversion rates, according to Quantum Metric statistics.

Smart Lockers with Green Technology: Currently, a number of research indicate that the globe is being significantly impacted by climate change. Rapid adjustments and prompt action across industries and at the individual level are necessary for a sustainable future as the world's resources are running out. According to the WildVenture GmbH research of CarbonCare, the logistics sector is responsible for 24 percent of greenhouse gas emissions. Similar to this, the growth of e-commerce is predicted to raise greenhouse gas emissions by 78 percent by 2030, leading to a 30 percent increase in carbon emissions. Thus, integrating sustainability into logistics and e-commerce is today's businesses' most crucial feature. Using smart lockers is an effective way to lessen the environmental impact that growing logistics has on the environment. The smart lockers monitor usage patterns and adjust energy use accordingly. For instance, it turns off the lights and sensors until the next parcel arrives if there is no parcel in the locker. Therefore, many businesses are introducing green technology lockers in light of the benefits.

Based on the region, the North American region currently dominates the global smart parcel locker market with respect to market share, and it is projected that it will continue to hold a sizable share of the market throughout the forecast period. This is due to the dramatic increase in parcel delivery brought on by the region's widespread exponential rise in online shopping. In addition, top e-commerce firms are putting cutting-edge technologies to use to provide a convenient purchasing environment for its clients. In a NPR/Marist poll, more than two-thirds of Americans said they preferred to shop online.

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Global Smart Parcel Locker Market

Report ID: SQMIG45J2194

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