Press release
Automated Parcel Delivery Terminals Market - Revenue is Expected to reach US$370.1 mn. By the end of 2024
These failures of conventional delivery systems, coupled with the tremendous increase in parcel numbers thanks to ecommerce, have created a spike in the demand for alternative delivery solutions. This forms the key factor pushing for the increased proliferation of automated parcel delivery terminals and other alternative delivery systems.
An automated parcel delivery terminal can provide a constant service for a user regardless of weather and other issues. This not only increases the convenience for delivery services to transport parcels, but also makes it easier for consumers to return parcels by simply dropping them off at the automated parcel delivery terminals.
However, reduction in human intervention can also create issues in terms of package safety and integrity. The smooth functioning and trustworthiness of a delivery service that uses automated parcel delivery terminals also has a lot to do with convenience. More consumers are more comfortable if the parcel is delivered to their doorstep.
Owing to the above factors and others, the global market for automated parcel delivery terminals is projected at a CAGR of 12.0% from 2016 to 2024. By the end of 2016, this market’s revenue is expected to reach US$370.1 mn. By the end of 2024, this revenue is expected to reach US$918 mn.
Europe to Retain Leading Demand for Automated Parcel Delivery Terminals
By the end of 2024, Europe is expected to take up US$552.3 mn of the revenue generated in the global market for automated parcel delivery terminals.
The growth of this market in Europe has always been healthy and is expected to continue being so, due to the steady increase in parcel volume and the number of products and e-services being made available.
Meanwhile, North America is showing the faster CAGR of 18.6% from 2016 to 2024. Although this region has preferred ecommerce as a conventional shopping method already, the sheer volume of product types expected to flood the ecommerce sector over the coming years is expected to impart a similarly high growth rate to the automated parcel delivery terminals demand in North America.
Consumers are beginning to prefer using automated parcel delivery terminals over conventional doorstep delivery due to the delays that can be caused by the volume of parcels, holidays, and weather.
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Shipping/logistics Companies to be Leading Owners of Automated Parcel Delivery Terminals
Companies that operate in shipping and logistics have the most to gain from the use of automated parcel delivery terminals and show a similarly high demand for it. They are expected to remain as the leading users of automated parcel delivery terminals till 2024 in terms of ownership, with a 40.8% share in market value.
The increasing volume of parcels getting stuck in the last mile of delivery and in missed deliveries is prompting many prominent shipping/logistics companies to opt for automated parcel delivery terminals.
Retails are also witnessing the advantage of using automated parcel delivery terminals as it allows them to employ an effective, cheaper, and faster delivery model than conventional delivery methods.
About TMR
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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