Press release
Global Smart Parcel Locker Market 2021 Is Estimated To Grow At 12.4% CAGR By 2028 | With Top Key Vendors:-TZ Limited, CleverBox Co., Smartbox Ecommerce Solutions Pvt. Ltd., Abell International Pte. Ltd., Cleveron And More....
Smart Parcel Locker Market 2021-2028New study report " Smart Parcel Locker Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.
Market Overview:
The global smart parcel locker market size is expected to reach USD 1,630.2 million by 2028, exhibiting a CAGR of 12.4% during the forecast period. The booming post and parcel industry is likely to boost the adoption of advanced smart parcel lockers across the globe. This information is published by Fortune Business Insights in its latest report, titled, “Smart Parcel Locker Market, 2021-2028.” The report further observes that the market stood at USD 644.8 million in 2020.
Lockdown to Lead to Lower Growth at 11.1% CAGR in 2020 amid COVID-19
The first half of 2020 led to reduced sales revenue due to the lockdown announced by the government agencies that halted operations of several industries. However, the second half of the pandemic witnessed a massive spurt in online sales. For instance, according to the data by Salesforce Inc., U.S. online sales grew by over 36% in the first two weeks of December as the customers were finishing their holiday shopping. Owing to this, the market exhibited a declined CAGR of 11.1% in 2020.
Top Key Players in this market are:
TZ Limited (New South Wales, Australia)
CleverBox Co. (London, U.K.)
Smartbox Ecommerce Solutions Pvt. Ltd. (UP, India)
Abell International Pte. Ltd. (Singapore)
Cleveron (Viljandi, Estonia)
Package Nexus (California, U.S.)
Mobiikey Technologies Pvt. Ltd. (Karnataka, India)
DeBourgh Manufacturing Co. (Colorado, U.S.)
KEBA AG (Linz, Austria)
Quadient (Bagneux, France)
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COVID-19 Impact-
Smart parcel lockers are automated systems that provide convenience for businesses to store parcels. They provide secure access to inventories and assets from close and remote locations to the users by automatically notifying them of details regarding their parcel. Furthermore, they help retailers reduce costs on last-mile shipping and leverage the inventory at their stores.
Competitive Landscape-
Product Innovation by Major Companies to Expand Their Product Portfolio and Boost Sales Revenue
The global market for these lockers is experiencing healthy competition between several players that are focusing on developing innovative parcel management solutions. Additionally, the adoption of strategies such as collaborations and partnerships by other companies is expected to contribute to the growth of the market in the forthcoming years.
Segmentation-
Modular Parcel Locker Segment Held 34.2% Market Share in 2020
Based on type, the modular parcel locker segment held a smart parcel locker market share of about 34.2% in 2020 and is expected to showcase considerable growth due to the increasing demand for efficient and low-maintenance modular lockers globally.
Regional Insights-
North America to Remain Dominant; Adoption of Advanced Solutions by E-commerce Players to Stoke Demand
Among all the regions, the market in North America stood at USD 227.3 million in 2020 and is expected to remain at the forefront and hold the highest position in the global market in the forthcoming years. This is attributable to the increasing adoption of advanced parcel management solutions by prominent e-commerce companies, which is likely to propel the demand for innovative smart parcel lockers between 2021 and 2028.
On the other hand, Europe is expected to hold the second position in the market due to the presence of established logistics networks in the region.
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Table Of Content:
Introduction
Key Takeaways
Market Dynamics
Competition Landscape
Global Smart Parcel Locker Key Players Market Share Insights and Analysis, 2020
Key Market Insights and Strategic Recommendations
Companies Profiled (Covered for key 10 players only)
Annexure / Appendix
Continue….
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