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Smart Parcel Locker Market to Experience 12.3% CAGR during 2024-2032; Corporations Focus on Creative Approaches to Expand Market

May 17, 2023 | Information & Technology

The smart parcel locker market size was valued at USD 902.6 million in 2023. The market is projected to grow from USD 1,012.0 million in 2024 to USD 2,552.4 million by 2032, exhibiting a CAGR of 12.3% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Smart Parcel Locker Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware and Software), By Deployment (Indoor and Outdoor), By Type (Modular Parcel Lockers, Cooling Lockers for Fresh Food, Postal Lockers, and Laundry Lockers), By Application (Commercial Buildings, Condos & Apartments, Retail BOPIS, Universities & Colleges, and Others), and Regional Forecast, 2024-2032”.


An autonomous container technology that offers a safe and convenient way of storing and managing packaged parcels and deliveries is called a smart parcel locker. The market is expected to be driven by growing online shopping platforms and e-commerce. Multi-tenant apartments and commercial buildings implement this technology to manage parcels of addresses that are stacked high. Similarly, smart technologies are widely being adopted by e-commerce and logistics companies.


E-commerce and Online Shopping Showed Potential Growth during Pandemic


The COVID-19 pandemic drastically changed the retail industry. The initiation of coronavirus notified the brick-and-mortar retailers to select digital platforms and accelerate the incorporation of multichannel strategies to guarantee more deliveries. Buyers grew content with online shopping, thanks to convenient facilities such as cash-on-delivery payment, free deliveries, and easy returns, among others. Thus, over the course of huge developments in online shopping and rapidly growing e-commerce during the pandemic, this speedy transformation surges the demand for smart lockers across countries.


Corporations Concentrate on Manufacturing Advanced Products


In October 2021, ParcelPoint smart locker by Pitney Bowes Inc. was launched to extend its lockers portfolio in Canada. This new product offers security and safety. The product has advanced features to improve efficiency and meet the increasing requirements for packaging delivery.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/smart-parcel-locker-market-104718


Growth to be Driven by Increase in E-Commerce Deliveries


E-commerce demand is increasing as a result of the trends in online retailing that are expanding quickly. The volume of deliveries increased over time for many businesses. The number of parcel stores or parcel locker outlets has significantly grown in light of the rise in business from customer parcel deliveries. By way of illustration, the Deutsche Post Group has announced that it would raise the number of its parcel lockers from roughly 7,000 in 2021 to 15,000 in 2023. The volume of packages sent has significantly increased in the industries of food and drink, personal care, clothes and accessories, and consumer electronics goods. These factors are expected to increase the global smart parcel locker market share.


On the contrary, parcel lockers fail in offering locks with huge capacity, which may impede the smart parcel locker market growth.


Competitive Landscape


Companies Concentrate on Global Expansion with a Creative Approach to Increase Market Share


The major market participants are growing their businesses through cooperation and alliances. Online platforms and websites that are expanding quickly are looking for innovative ways to provide their products. Additionally, there is a greater demand for home delivery on these channels. As a result, the major suppliers strategically work with organizations that manage large numbers of packages.


Notable Industry Development:



  • March 2022 – Ricoh Group launched a smart locker for a digital workplace in Canada. The new locker offers storage with space efficiency, flexible connectivity, and advanced capability for a hybrid work model.


List of Key Players Profiled in the Report:



  • Ricoh Group (Japan)

  • Quadient SA (France)

  • TZ Limited (Australia)

  • Pitney Bowes Inc. (U.S.)

  • KEBA Group AG (Austria)

  • Cleveron (Estonia)

  • LUXER Corporation (U.S.)

  • ParcelPort Solutions, Inc. (Canada)

  • Hollman, Inc. (U.S.)

  • Shenzhen Zhilai Sci and Tech Co. (China)


Further Report Findings:



  • Due to increase in parcel delivery brought on by a significant rise in online shopping across the region, North America holds the largest market share.

  • Due to the rising number of online shoppers and government initiatives to create smart cities, Asia Pacific is expected to grow quickly.

  • Germany and the U.K. are poised to surpass other European countries in terms of the number of parcel lockers due to millions of pounds of investment in smart parcel lockers, which represent an important part of the future's growing national digital infrastructure.


Table of Segmentation






























































  ATTRIBUTE



  DETAILS



Study Period



2019–2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024–2032



Historical Period



2019–2022



Growth Rate



CAGR of 12.3% from 2024 to 2032



Unit



Value (USD million)



Segmentation



By Component, Deployment, Type, Application, and Region



By Component




  • Hardware

  • Software



By Deployment




  • Indoor

  • Outdoor



By Type




  • Modular Parcel Lockers

  • Cooling Lockers for Fresh Food

  • Postal Lockers

  • Laundry Lockers



By Application




  • Commercial Buildings

  • Condos and Apartments

  • Retail BOPIS

  • Universities and Colleges

  • Others (Post Offices, Parking Areas)



By Region




  • North America (By Component, By Deployment, By Type, By Application, and By Country)

    • U.S. (By Type)

    • Canada (By Type)

    • Mexico (By Type)





  • South America (By Component, By Deployment, By Type, By Application, and By Country)

    • Brazil (By Type)

    • Argentina (By Type)

    • Rest of South America





  • Europe (By Component, By Deployment, By Type, By Application, and By Country)

    • U.K. (By Type)

    • Germany (By Type)

    • France (By Type)

    • Italy (By Type)

    • Spain (By Type)

    • Russia (By Type)

    • Benelux (By Type)

    • Nordics (By Type)

    • Rest of Europe





  • Middle East & Africa (By Component, By Deployment, By Type, By Application, and By Country)

    • Turkey (By Type)

    • Israel (By Type)

    • GCC (By Type)

    • North Africa (By Type)

    • South Africa (By Type)

    • Rest of Middle East & Africa





  • Asia Pacific (By Component, By Deployment, By Type, By Application, and By Country)


    • China (By Type)

    • Japan (By Type)

    • India (By Type)

    • South Korea (By Type)

    • ASEAN (By Type)

    • Oceania (By Type)

    • Rest of Asia Pacific



Global Smart Parcel Locker Market
  • PDF
  • 2023
  • 2019-2022
  • 150

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