Parcel Sortation System Global Market Growth Opportunities by 2033 | At a CAGR of 9.3% | Dematic, Körber AG, Fives, BEUMER Group, TGW Logistics

"The Business Research Company recently released a comprehensive report on the Global Parcel Sortation System Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, the parcel sortation system market size has grown strongly in recent years. It will grow from $1.78 billion in 2023 to $1.94 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to growth in omnichannel retailing, growth in cross-border e-commerce, growth in subscription box services, increased awareness of green logistics, and increased focus on reducing delivery errors.

The parcel sortation system market size is expected to see strong growth in the next few years. It will grow to $2.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to increasing e-commerce volume, rising demand for automation, rising urbanization, increasing investments in logistics infrastructure, and growing demand for same-day delivery. Major trends in the forecast period include technological advancements, AI integration, adoption of IoT, utilization of big data, and adoption of cloud-based sortation solutions.

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Market Drivers and Trends:

The growing e-commerce industry is expected to propel the growth of the parcel sortation system market going forward. The e-commerce industry refers to the sector that involves buying and selling goods and services over the Internet. The e-commerce industry is increasing due to several factors, such as convenience, a diverse product offering, competitive pricing, ease of comparison, and personalized purchasing experiences. Parcel sortation systems in e-commerce automate and optimize the sorting and distribution of packages, ensuring efficient management of the high volume of parcels from online sales. For instance, according to the United States Census Bureau, a US-based government agency, in the first quarter of 2024, US retail e-commerce sales hit $289.2 billion, up 2.1 percent (±0.7%) from the fourth quarter in 2023. Therefore, the growing e-commerce industry is driving the growth of the parcel sortation system market.

Major companies operating in the parcel sortation system market are developing robot-based parcel sorting systems and AI-driven vision systems for enhanced accuracy and efficiency. Robot-based parcel sorting systems are advanced automated systems that utilize robots to sort and handle parcels in logistics and distribution centers. These systems leverage robotic technology to enhance the sorting process's efficiency, accuracy, and speed. For instance, in January 2024, Viettel Post, a Vietnam-based provider of express delivery services, launched 160 LiBiao 'Mini Yellow' autonomous guided robots in Vietnam. It is installed in the storage and distribution hub, resulting in wholly automated package sortation technology. The robots employed by VTPost are equipped with AI-driven algorithms capable of autonomously identifying, categorizing, and sorting parcels based on size, weight, and destination. This automation reduces sorting errors and enhances processing speeds, optimizing overall logistics efficiency. This system includes real-time tracking and monitoring capabilities, allowing stakeholders to monitor parcel movement and status at every stage of the sorting process.

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Major Key Players of the Market:

Honeywell International Inc., Kawasaki Heavy Industries, FANUC America Corporation, Daifuku Co. Ltd., Yaskawa America, Vanderlande, Pitney Bowes Inc., Dematic, Körber AG, Fives, BEUMER Group, TGW Logistics, Interroll Group, Daifuku, Bastian Solutions, Murata Machinery Ltd., Siemens Logistics GmbH, Viastore Systems, National Presort Inc., Böwe Systec, Muratec America, Mantissa Corporation, Okura Yusaki Co. Ltd.

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