Smart Parcel Locker Market Size, Share & Industry 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

The smart parcel locker market size was valued at USD 902.6 million in 2023 and 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 (2024-2032). North America accounted for a market value of USD 309.3 million in 2023. A smart parcel locker is an autonomous container technology used for storing online delivered parcels or packages. This technology offers a secure and convenient way of managing packaged deliveries. The increasing e-commerce and online shopping platforms are expected to drive the market. Commercial buildings and multi-tenant apartments are highly adopting this technology to manage high stacks of parcels of multiple recipients. Similarly, logistics and e-commerce companies are shifting toward adopting smart technologies. For instance,

• In March 2022, Quadient SA partnered with the DHL delivery network to provide smart parcel lockers in Sweden's outdoor areas. Customers and e-retailers alike benefit from the partnership's package transaction flexibility.

Additionally, the market expansion is boosted by the rise in online shopping, growth of cities, and increase in population density. There is a growing demand for contactless options and improvements in technologies, such as IoT and RFID integration. These elements are contributing to the popularity of smart lockers, which provide safe and effective parcel delivery solutions to address the challenges of last-mile delivery and package management.

According to the key players of the market, the convenience, contact-free, and faster deliveries through smart lockers surge its demand during the Covid-19 pandemic crisis. In the initial three quarters of the fiscal year 2020, Quadient witnessed a 78% rise in smart locker-based package deliveries. The end-users, such as universities, large retailers, multi-family properties, and corporate campuses, among others, have installed a major share of a number of lockers amid the pandemic. For instance, the number of lockers installed is extensively increasing across countries with the surge in demand amid the pandemic.

Smart Parcel Locker Market Trends

Green Technology-enabled Smart Lockers to Boost Market Expansion

Today, various studies are pointing toward a significant impact of climate change on the planet. As the world is running out of resources, rapid changes and quick actions across industries and at individual levels are required for a sustainable future. As per the CarbonCare study of WildVenture GmbH, the logistics industry contributes 24% of greenhouse gases. Similarly, the rise in e-commerce is expected to increase greenhouse gases by 78% by 2030, resulting in a rise in carbon emissions by 30%. Thus, today's companies' most important characteristic is to bring sustainability to logistics and e-commerce.

The adoption of smart lockers is an efficient option for reducing the environmental impact caused by increasing logistics. The smart lockers track the usage patterns and accordingly optimize energy consumption. For instance, when no parcel is present in the locker, it switches off the lights and sensors till the other parcel arrives. Thus, considering the advantages, various companies are offering green technology lockers. For instance,

• In May 2022, Velocity Smart Technology, a U.K.-based smart locker provider, introduced the first type of carbon-neutral parcel locker in collaboration with Decarbonisation consultancy. 

Thus, the growing awareness regarding increasing carbon footprint is expected to fuel the expansion of the smart parcel locker market share.

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Smart Parcel Locker Market Growth Factors

Rise in E-Commerce Deliveries to Drive Market Growth

The exponentially growing online retailing trends are escalating e-commerce demand. Over the years, many companies witnessed a rise in delivery volumes. Considering the increase in business to customer parcel deliveries, the parcel shops or parcel locker outlets increased substantially. For instance, the Deutsche Post Group has stated that it will increase the number of its parcel lockers from approximately 7,000 in 2021 to 15,000 in 2023.

The industry sectors, such as food and beverages, personal care, apparel and accessories, and consumer electronics goods, have witnessed a sharp rise in parcel delivery volume. Brick and mortar retail stores are now shifting to e-commerce and digital platforms to deliver products to customers. According to the Quantum Metric data, brick and mortar retailers availed e-commerce platforms to witness 52% increase in conversion rates. 

The important assistance of e-commerce is fast parcel deliveries. The enhanced next-day delivery standard has been able to gain more customers. As per the 2021 European Regulators Group for Postal Services (ERGP) report, the total number of parcel delivery has increased by 9.2% per annum on an average from 2015 to 2021. Thus, increasing e-commerce delivery is expected to drive the market growth.

RESTRAINING FACTORS

Locker Capacity Constraint is Expected to Limit Market Expansion

Smart parcel locker providers are facing challenges in providing high-capacity and bigger size lockers. Although the manufacturers are offering customized and all-size capacity lockers, the limited availability of huge-size smart lockers is likely to hinder the growth of the market. For instance, in the U.K., Amazon Inc. offers a restricted locker capacity with a weight limitation of 4.5 kilograms. Thus, if any parcel exceeds both the dimension and weight restrictions, the parcel is removed or shipped to other locations.

Additionally, limited space in crowded cities can pose a problem for small businesses or residential buildings with little common areas. This can be a major issue in rural or remote areas. Setting up lockers, wiring, and software can be quite complicated. This is expected to cause inconvenience to the product supplier and customers.

Smart Parcel Locker Market Segmentation Analysis

By Component Analysis

Growing E-commerce and Logistics to Escalate Hardware Demand

Based on component, the market is categorized into hardware and software.

Hardware captured maximum market share in 2023 and is expected to maintain its dominance during the forecast period. With growing preference of consumers for flexibility and convenience in the way, packages are picked up or ordered online, and thus retailers and societies are recognizing the benefits of deploying a smart locker in their stores and professional or residential properties.

By Deployment Analysis

Maximum Security and Ease of Access to Drive Indoor Locker Demand

Based on deployment, the market is categorized into indoor and outdoor.

Indoor deployment of smart lockers is the highest compared to outdoor deployment as the cost of an outdoor locker is three times higher compared to an indoor model. The maintenance of outdoor lockers is challenging and expensive due to exposure to the weather, which reduced their lifespan to almost half. This is one of the major factors for operators when calculating their long-term investment return as it can result in unforeseen costs and ultimately lost business.

By Type Analysis

Increasing Scalability to Fuel Modular Parcel Lockers Segment Share

Based on type, the market is divided into modular parcel lockers, cooling lockers for fresh food, postal lockers, and laundry lockers.

The modular parcel locker segment accounts for the largest market share, whereas cooling lockers for the fresh food segment is expected to be the fastest-growing locker type. Modular lockers are highly adopted as they improve the utilization of parcel lockers. These lockers function like fixed lockers; however, the number of locker spaces can be adjusted depending on the demand. Increasing orders of specific food/fruits, temperature-sensitive goods, such as electronic devices, cosmetics, and heat-sensitive medicines, are urging the need to install cooling lockers.

Cooling lockers for fresh food are commonly utilized by big food market chains, restaurants, online retailers, and businesses providing food delivery services. These lockers can be placed in different areas, such as near stores, restaurants, residential areas, apartment buildings, office complexes, and more. The market growth is propelled by the increasing focus on organic and healthy foods, driven by a growing awareness of the significance of nutrition and rising dependence on grocery delivery.

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By Application Analysis

Growing Online Shopping to Boost the Commercial Building Segment Share

Based on application, the market is divided into commercial buildings, condos & apartments, retail BOPIS, universities and colleges, and others (post offices, parking areas).

The deployment of innovative parcel lockers is highest in and around commercial buildings, whereas the retail Buying Online and Picking Up In-store (BOPIS) application is predicted to increase the deployment of smart lockers on their premises in the coming years. The booming trend of BOPIS is on the rise, with almost 50% of consumers selecting BOPIS in the past 12 months.

With the upsurge in online shopping, concerns associated with package theft and porch pirates are also increasing. As per the August Home Study, around 53% of employees across the world are worried about package theft at the workplace. Companies, such as Goodman Real Estate, are providing parcel lockers for their workforces, making it convenient for their employees to manage their parcels while at work.

Delivering, sorting, and retrieving parcels to residents not only require manpower and time but also leave property managers liable for theft and damage. Smart parcel lockers for apartments and condos provide a streamlined process for delivery and courier services, thereby reducing liability for administration and owners. Similarly, research by Parcel Pending by Spaces4Learning and Quadient stated that over 42% of college administrators have already invested in smart lockers.

REGIONAL INSIGHTS

The global market scope is classified across North America, South America, Europe, the Middle East & Africa, and Asia Pacific.

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North America captures the maximum market share, due to the surge in the number of parcel deliveries, as a result of substantial growth of online shopping across the region. In addition, leading e-commerce companies are implementing cutting-edge technologies to develop a convenient shopping experience for their customers.

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Asia Pacific is predicted to grow at a rapid pace due to the increasing number of online buyers and government initiatives to develop smart cities. China is projected to lead in the forthcoming years, owing to the presence of top e-commerce companies such as Alibaba, JD.com, and Pinduoduo. However, India's use of parcel lockers is projected to grow with the highest CAGR, owing to a surge in government initiatives for advanced technology adoption for post offices.

Smart parcel lockers represent an important, nationwide, emerging digital infrastructure of the future, and Germany and the U.K. are about to become the largest parcel locker nations in Europe as a result of millions of pounds of investment. Across Europe, retailers have partnered with many logistics firms for delivery to lockers. More than a thousand parcel lockers are currently located in the U.K., France, Poland, Germany, Finland, and Italy, with 8,000 people per parcel locker density in Spain.

The increasing logistics and e-commerce industries in South America are expected to drive market growth in the forthcoming years. The rising rate of package delivery theft in the region is fueling the demand for secure, intelligent parcel lockers. For example, more than 22,000 cargo thefts were reported in Brazil in 2018. Similarly, with the development of the transportation and logistics industries, the Middle East & Africa market is growing at a steady rate.

List of Key Companies in Smart Parcel Locker Market

Focus on Global Expansion with Innovative Solution to Boost Market Share

The key smart parcel locker players are expanding their business through collaboration and partnership. The rapidly growing online platforms and websites are looking for smart solutions for their product delivery. Also, these channels are witnessing higher demand for home deliveries. Thus, the key providers are strategically collaborating with companies that are handling large parcel volumes. Further, these players are focused on offering advanced and next-generation parcel storage options catering to the needs of industries such as food and beverages, healthcare and pharmaceuticals, retailers, education, and logistics, among others.

• September 2022: Quadient SA and Spike Global, a provider of property management and resident engagement software, formed a strategic alliance to streamline package delivery via the Spike Living portal.


• December 2021: To provide customers in Canada with additional storage options, Luxer One, a developer of smart locker technology, announced a partnership with Tribe Property Technologies Inc.

List of Key Companies Profiled:

• 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)

KEY INDUSTRY DEVELOPMENTS

• November 2023 – Blue Dart Express Limited, a company that specializes in express air integrated transportation and distribution logistics, partnered with India Post to introduce digital parcel lockers at certain post offices. These innovative lockers offer customers a convenient delivery option that eliminates the need for physical receipts or signing upon package arrival.


• September 2023 – SwipBox, a Danish company, had introduced a smart parcel locker that enables secure delivery and collection of packages. By utilizing Bluetooth LE connectivity and Nordic Semiconductor's nRF52840 SoC, the 'SwipBox Infinity' connects the lockers with smartphones. With over 35,000 installations globally, it has gained significant popularity.


• June 2023 – Bell and Howell revealed that a top grocery chain in the U.S. had set up Bell and Howell’s BH QuickCollect GO! Pod to enhance customer satisfaction and improve last-mile delivery efficiency.


• September 2022 – Quadient, a provider of smart lockers, partnered with DHL Parcel U.K. to guarantee secure delivery through the installation of more than 500 locker stations. In 2022, 500 locker stations were set up across the U.K., with an additional 5,000 planned in the coming years. The majority of these stations are outdoors and available for use 24/7.


• April 2022 – TZ Limited announced a new contract for the installation of 3,000 TZ smart lockers with the NSW Government department in Australia. With its sophisticated cloud-based systems, the company updated the department's existing lockers.

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The report highlights leading regions across the world to offer a better understanding of the user. Furthermore, the report provides insights into the latest industry & smart parcel locker market trends and competitive landscape and analyzes technologies deployed at a rapid pace at the global level. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the market.

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