Parcel Sortation System Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

The parcel sortation system market is estimated to be worth USD 2.0 billion in 2023 and is projected to reach USD 2.8 billion by 2028, at a CAGR of 7.0% during the forecast period. Labor cost inflation and an increase in industrial automation is also supporting the growth of the global parcel sortation system market. Moreover, the rising demand for faster parcel delivery is also a key factor contributing to the market growth.

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Parcel sortation system provide multiple benefits, such as increased efficiency, faster order fulfillment, error reduction, scalability, cost savings, improved reverse logistics and enhanced safety. They ensure accurate sorting, timely delivery, order tracking and traceability, data analytics and insights, and optimize transportation expenses. Moreover, they reduce energy consumption during operation, and waste reduction. Parcel sortation system is used in many applications such as, Logistics, e-commerce, airports, pharmaceutical and medical supply, food & beverage, and retail.

Linear parcel sortation systems segment accounted for the largest market share in parcel sortation system type segmentation of market in 2022. Linear parcel sortation systems also known as line parcel sorters, sort parcels or cartons in a straight line. The growth of this market can be attributed to the benefits offered by linear parcel sortation systems in terms of their higher throughput capacity, ability to sort different kinds of parcels, accuracy in terms of sortation, maintaining orientation during sorting, low noise generation, space optimization and scalability. They can be seamlessly integrated with other components of the logistics operation. These factors make them an ideal solution for end users that deal in parcels of different shapes and sizes.

The hardware segment is expected to hold the largest market share of parcel sortation system market in 2023. The maximum market size is attributed to the significance of hardware components of parcel sortation systems, such as diverters, scanners, and sensors which play crucial roles in the entire operation. These components streamline the process and expedite the delivery of parcels by minimizing errors. Hardware components enable sorting of parcels on a conveyor belt on the basis of their barcode reading, shape, size, volume, weight, barcode, or RFID tags and other parameters, and then to divert these parcels to the respective destinations.

Logistics is a major application dominating the parcel sortation system market during the forecast period. Logistics companies heavily depend on parcel sortation systems to accurately consolidate a random parcel's flow and forward it to its respective shipping destination. By automating the sorting procedure, these systems ensure precise and effective parcel routing. They identify and sort parcels according to their destination, size, weight, or other specifications by scanning barcodes or using cutting-edge technology like optical character recognition.

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Key players in the market are Vanderlande (Netherlands), Beumer Group (Germany), Honeywell International (US), and Bastian Solutions (US), Fives (France). These players are equipped with a comprehensive and diverse product portfolio along with a strong geographic presence. These players can focus on developing innovative parcel sortation system owing to the emergence of new application areas in the logistics and e-commerce industry.

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This release was published on openPR.