Global Smart Parcel Locker Market Expected to Reach USD 1,743.9 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Smart Parcel Locker Market by Types, Applications, and Regions: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 542.8 Million in 2019 and is expected to grow at a CAGR of 16% between 2020 and 2027. The smart parcel locker market volume is anticipated to expand at a CAGR of around XX% during the forecast period. Smart parcel lockers are computerized electronic locker systems, which are used for operations including pick-up and delivery of parcels. The total smart parcel lockers system is made up of a set of lockers used for the pick-up by users and delivery by users. These lockers are placed within residences or at workplaces to help users receive their parcels accordingly as per their convenience.

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The global smart parcel locker market is fragmented based on type, application, and region. In terms of types, the market is segmented into min. order ?10, min. order 10-50, and min. order >50. On the basis of applications, the market is segregated into condos, apartment complexes, businesses, and others. Based on regions, the global smart parcel locker market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is further bifurcated into countries such as the US, and Canada. Latin America is sub-segmented into Brazil, Mexico, and Rest of Latin America, while Asia Pacific is classified as India, China, Australia, Japan, South Korea, and Rest of Asia Pacific. Europe is categorized as the UK, France, Germany, Italy, Spain, Russia, and Rest of Europe. MEA is categorized as Saudi Arabia, South Africa, the UAE, and Rest of MEA.

The effect of COVID-19 is anticipated to be strongly felt in the manufacturing industry due to high dependency of different global industries for imports. Moreover, the pandemic situation has led to the closure of several non-essential businesses reducing the demand for machines such as smart parcel locker in the world, which in turn, is impeding the different end users. The COVID-19 pandemic is decreasing end-user demand for daily packaging products worldwide, thus reducing the demand for smart parcel lockers, in the short-term. The COVID-19 effects majorly on manufacturing units, which are currently working with 50% workforce. The global supply chain has at the same time slowed down due to restrictions on national borders.

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As per GMR industry analyst Vidya Jadhav, “The global smart parcel locker market is anticipated to expand at a considerable pace during forecast period, 2020-2027, driven by factors such as 24×7 delivery and pick-up options available for parcel providers and receivers, ease of use, and technological connectivity. The smart parcel locker market is growing significantly due to the high demand for these lockers in businesses, apartments, and condos.”

Key Takeaways from the Study:

• KEBA, Cleveron AS., and ALPHA Corporation held over 1/5^th of the market share of the global smart parcel locker market in 2019.
• In terms of value, Europe accounts for a major share of the market, followed by North America. The market in Europe is projected to expand at significant CAGR during the forecast period.
• In terms of value, the min. order 10-50 segment is anticipated to expand at a significant CAGR during the forecast period.
• Physical stores that offers smart parcel lockers require many employees and high fixed costs (rent) to run stores, and thus are unable to offer a wide selection of goods due to the presence of limited space, which offers opportunities for online sales channels. Online retailers can deliver a vast selection of products without having to pay as many workers and needing access to shipping companies to sell their products.

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Report Scope:

Target Audience:

• Supply-side: smart parcel locker manufacturers, raw material suppliers, primary respondents, and distributors.
• Demand Side: research & development facilities, industries, household, etc.
• Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
• Associations and Industry Bodies: Environmental Protection Agency (EPA), International Organization for Standardization (ISO), Organization of Plastics Processors of India (OPP), Ministry of Health, Labor and Welfare (MHLW), World Trade Organization (WTO), Occupational, Safety and Health Administration (OSHA), American National Standards Institute (ANSI), and Indian Centre for Plastics in the Environment (ICPE).

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