Smart Parcel Delivery Locker Market is expected to reach US$ 1,644.1 Million by 2028

According to our latest market study on "Smart Parcel Delivery Locker Market Forecast to 2028 - COVID-19 Impact and Global Analysis - By Type (Standard Smart Locker and Temperature Controlled Smart Locker), Component (Hardware and Software), and Application (Retail, Residential, University, Office, and Others)," the market is expected to grow from US$ 677.6 million in 2021 to US$ 1,644.1 million by 2028; and is estimated to grow at a CAGR of 13.5% from 2021 to 2028. Advancements in Autonomous Technology for Storage and Management of Parcels to Provide Growth Opportunities for Smart Parcel Delivery Locker.

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Smart Parcel Delivery Locker Market - Company Profiles
• Cleveron
• DeBourgh
• KEBA
• KernPack
• Package Nexus
• Patterson Pope
• RENOME SMART
• Smartbox Ecommerce Solutions Private Limited
• Snaile Inc.
• TZ Limited

The increasing post and parcel industry is propelling parcel delivery companies to adopt advanced smart technologies to enhance customer satisfaction. There is a rising demand for smart cooling lockers across the food & beverages industry vertical to preserve and provide fresh food products. The rising penetration of the internet and smartphones has enabled consumers to import products, resulting in considerable growth in parcel shipments. The rising demand for modern solutions to manage package, mail, and asset delivery from residential and corporate sectors is contributing to the market growth. The growing demand from retail, colleges and universities, and other sectors to transform package and mail delivery is driving the smart parcel delivery locker market.

The growing consumer demand for faster and flexible shipments enables the market players to improve their services and develop autonomous technology-equipped parcel storage systems as an effective and long-term solution to last-mile delivery challenges. Investments in new technologies enabling greater efficiency are anticipated to provide lucrative growth opportunities to the market vendors. Automated smart parcel locker solutions provide functionalities that enhance and amplify logistics companies' mail and package deliveries. Autonomous technology for the storage and management of parcels offers secure, efficient, accountable, convenient package delivery and auditable asset storage with the access to track deliveries remotely. Prominent players in the smart parcel delivery locker market are focusing on building, managing, and maintaining an efficient automated smart locker network to achieve business expansion. For instance, Smartbox is a pioneer in bringing smart locker technology to the Indian market. Its cloud-based parcel locker technology gives a real-time view of available lockers with complete control and security. Increased partnerships and collaborations among the industry participants are anticipated to propel market growth. For instance, in March 2021, Quick Collect Solutions-the provider of automated pickup solutions-announced a partnership with smart locker company "Florence Corporation" to improve its current product portfolio and offerings. The rising adoption of internet of things (IoT) based smart parcel lockers in regions such as Asia Pacific, owing to the rise in demand from retailers, e-commerce companies, logistics companies, and consumers, is anticipated to boost the market growth.

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Market Insight
Growing E-Commerce and Parcel Volumes

The rise of e-commerce has led to a significant increase in the number of parcel volumes, which is driving the smart parcel delivery locker market. In October 2020, Pitney Bowes-a technology company and a commerce solutions provider-reported that the global parcel volume surpassed 100 billion for the first time in 2019, with a growth of 17.7%. China accounts for the generation of more than three of every five parcels shipped in the world's major markets. China also reported 63.5 billion parcels shipped in 2019, with a 26% increase in parcel volumes. The growth of the e-commerce industry and surge in parcel volume are propelling the adoption of advanced technologies to provide reliable and secure services to customers. There is rapid popularity of e-commerce lockers in highly populated localities for easy access to customers. Companies can deliver the goods to e-commerce lockers, which customers can receive using the password sent by e-commerce companies. E-commerce smart lockers can help businesses greatly reduce costs and help manufacturers and rental services benefit from the growing demand, which is anticipated to propel the market growth during the forecast period. Due to the rising demands and digitization trends, startups such as Smartbox are providing smart e-commerce lockers, which is expected to drive the smart parcel delivery locker market in the coming years.

Smart Parcel Delivery Locker Market Segmentation:
Smart Parcel Delivery Locker Market - by Type
Standard Smart Locker
Temperature Controlled Smart Locker

Smart Parcel Delivery Locker Market - by Component
Hardware
Software

Smart Parcel Delivery Locker Market - by Application
Retail
Residential
University
Office
Other

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