Smart Parcel Delivery Locker Market, is estimated to grow at a CAGR of 13.5% from 2021 to 2028

Smart parcel delivery locker market is expected to grow from US$ 677.6 million in 2021 to US$ 1,644.1 million by 2028.

PUNE, MAHARASHTRA, INDIA, February 14, 2022 /EINPresswire.com/ -- 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 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.

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Report Coverage Details
Market Size Value in US$ 677.6 million in 2021
Market Size Value by US$ 1,644.1 million by 2028
Growth rate CAGR of 13.5% from 2021 to 2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 157
No. Tables 88
No. of Charts & Figures 82
Historical data available Yes
Segments covered Type, Component, and Application
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Impact of COVID-19 Pandemic on Smart Parcel Delivery Locker Market

After witnessing a significant drop in 2020 due to the onset of COVID-19, the global parcel locker manufacturing market began witnessing a gradual recovery in consumer demand since the last quarter of 2020. Rapid recovery in online sales is anticipated to boost the demand for smart parcel delivery lockers during the forecast period. According to the United Nations Conference on Trade and Development, COVID-19 has led to a surge in e-commerce and digital transformation amid slowing economic activity. Retailers and delivery companies are working to cater to the growing customer demand efficiently. Adjusting to the new normal, businesses and consumers are providing and purchasing more goods and services online. The colleges and universities across the globe are also rethinking their mail and package delivery processes as students and faculty prepare to return to campuses. Smart locker technologies with touch-free package delivery are rapidly gaining popularity among retailers, universities, and corporations amid COVID-19 scenarios. Buy online, pick up in store (BOPIS) is being embraced by customers and businesses to reduce exposure to the COVID-19 virus and eliminate shipping fees and operational costs.

COVID-19 Analysis on this market

Smart Parcel Delivery Locker Market Insights.

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: Competitive Landscape and Key Developments

Cleveron, DeBourgh, KEBA, KernPack, Package Nexus, Patterson Pope, RENOME SMART, Smartbox Ecommerce Solutions Private Limited, Snaile Inc., and TZ Limited

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