The Global Intelligent Parcel Locker Market size is expected to reach $1.5 billion by 2028, rising at a market growth of 11.8% CAGR during the forecast period.
A parcel locker is a container that facilitates package pickup for building residents at any time. Due to modern technology, the building manager can now warn the beneficiary due to installed digital systems. Residents can easily pick up and drop off shipments using this procedure. Everyone gets tired of waiting for package delivery for hours.
The tenant can access a fully linked system that enables property managers to provide better, more effective building services. The solution eliminates the paper trail while providing fast access to information regarding the delivery. A well-liked and extremely intriguing alternative to an effective last-mile delivery system is the intelligent parcel locker. An intelligent packed locker is another name for an intelligent parcel locker.
It is a form of computer-controlled electronic locker used for electronic concierge digital parcel delivery, allowing recipients to get their mail and packages whenever they choose. The central delivery point provided by the intelligent parcel lockers strengthens the chain of custody and allows for audit tracking. It gives customers rapid email and SMS notifications when their products have been delivered.
Automated solutions called intelligent parcel lockers make it easy for businesses to store packages. By immediately alerting users to information about their shipment, they give users secure access to inventory and assets from nearby and far-off locations. Additionally, they enable merchants to use the inventory in their locations and lower the cost of last-mile transportation.
In human history, there has never been a crisis like the one the world is constantly experiencing. Lockdowns affect nearly a third of the world's population. The only way to stop it from spreading further is to stay at home and avoid social situations. However, this has resulted in a massive demand for and rush to stock up on necessities like food and medications.
The retail sector has undergone a radical change as a result of the COVID-19 pandemic. Brick and mortar stores have chosen digital platforms and accelerated the incorporation of multichannel strategies due to the early beginning of the coronavirus, which has concerned them and caused them to do so to ensure increased deliveries. Due to convenient options like simple free deliveries, returns, and cash-on-delivery payment, among others, people become more at ease when shopping online. As a result, the market for intelligent lockers quickly increased across all countries due to the pandemic's impact on e-commerce and the exponential expansion of online shopping.
The demands for online shopping are rising due to trends that are expanding at an exponential rate. Many businesses have noticed an increase in delivery volumes over time. Given the rise in business-to-customer parcel deliveries, the number of parcel stores or parcel locker outlets significantly expanded. The number of packages sent has significantly increased in the industries of food and drink, personal services, apparel and shoes, and consumer electronics.
The demands for online shopping are rising due to trends that are expanding at an exponential rate. Many businesses have noticed an increase in delivery volumes over time. Given the rise in business-to-customer parcel deliveries, the number of parcel stores or parcel locker outlets significantly expanded. The number of packages sent has significantly increased in the industries of food and drink, personal services, apparel and shoes, and consumer electronics. E-commerce and digital platforms are now replacing traditional brick-and-mortar retail locations as the primary means of product delivery.
Electronic devices are present in every industrial, commercial, and residential context. Additionally, this equipment is dependent on stable voltage input and increasingly complex analog and digital circuitry. These patterns emphasize the requirement for efficient straight-line emissions filters that are adaptable to various electrical configurations. However, there is no inverse relationship between the number of primary windings and the voltage that arises across the inductor or all of its windings.
On the basis of components, the Intelligent Parcel Locker Market is segmented into hardware and Software. The software segment witnessed a significant revenue share in the intelligent parcel locker market in 2021. It is due to the increased requirement to track the delivery and pickup of packages in real-time. Software that powers intelligent parcel lockers provides recipients with a quick parcel pickup option and enables operators to control the workflow with end-to-end visibility.
Based on the Application, the Intelligent Parcel Locker Market is divided into Indoor and Outdoor. The indoor segment procured the largest revenue share in the intelligent parcel locker market in 2021. It is because intelligent locker implementation indoors is more common. After all, an outdoor model costs three times as much as an indoor model.
By End-user, the Intelligent Parcel Locker Market is classified into Residential and Non-Residential. The residential segment garnered the highest revenue share in the intelligent parcel locker market in 2021. It is because deliveries can be accepted at any time and are kept safe until residents get home. This increases facility security and lowers the possibility of parcel theft and loss. Realizing that their deliveries are secure and safe allows residents to relax.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 710.7 Million |
| Market size forecast in 2028 | USD 1.5 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 11.8% from 2022 to 2028 |
| Number of Pages | 170 |
| Number of Tables | 320 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, End User, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the Intelligent Parcel Locker Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region acquired the largest revenue share in the intelligent parcel locker market in 2021. Demand is driven due to the greater adoption of new technology. The expansion of e-commerce businesses using cutting-edge parcel management technologies is responsible for the growth.
Free Valuable Insights: Global Intelligent Parcel Locker Market size to reach USD 1.5 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include CKI Locker LLC (Cole Kepro International, LLC), Cleveron (Posti Group Corporation), Florence Corporation (Gibraltar Industries, Inc.), Hollman, Inc., KEBA Group AG, Luxer Corporation (Assa Abloy AB), Package Nexus, Parcel Port Solutions, Inc., Pitney Bowes, Inc., and Quadient.
By Application
By Component
By End User
By Geography
The Intelligent Parcel Locker Market size is projected to reach USD 1.5 billion by 2028.
Parcel Lockers Are Receiving More E-Commerce Deliveries are driving the market in coming years, however, There Is A High Probability Of Technological Problems restraints the growth of the market.
CKI Locker LLC (Cole Kepro International, LLC), Cleveron (Posti Group Corporation), Florence Corporation (Gibraltar Industries, Inc.), Hollman, Inc., KEBA Group AG, Luxer Corporation (Assa Abloy AB), Package Nexus, Parcel Port Solutions, Inc., Pitney Bowes, Inc., and Quadient.
The expected CAGR of the Intelligent Parcel Locker Market is 11.8% from 2022 to 2028.
The Hardware segment acquired maximum revenue share in the Global Intelligent Parcel Locker Market by Component in 2021 thereby, achieving a market value of $2 billion by 2028.
The North America market dominated the Global Intelligent Parcel Locker Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $568.1 million by 2028.
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