Global Parcel Sortation Systems Market By Offering (Hardware - Processors, Cameras, Sensors, Displays, Diverters; Software; Services), Type (Loop Type, Linear Type), Vertical (Logistics, Pharmaceuticals & Medical Supply, Airports, E-Commerce, Food & Beverages)
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The Global Parcel Sortation Systems Market size is expected to reach $2.0 billion by 2023, rising at a market growth of 9.1% CAGR during the forecast period. Automated sortation system is considered as a major breakthrough in the mechanical sector. Automation is used in sorting number of consumer products such as packaged food & beverages, post & parcels, medicines, textiles and others. The technology is widely used in industries such as food & beverage, pharmaceutical, retail, and healthcare, for small size products. The growth of the parcel sortation systems market due to increasing labor costs, rising industrial automation, and growing in e-commerce sector. Additionally, growing application areas of parcel sorting systems, integration of Industry 4.0 and IoT with sorting systems would significantly add to the market opportunities during the forecast period.
Based on Offering, the Parcel Sortation Systems market segments the market into Hardware, Software, and Services. Hardware Type includes Processors, Cameras, Sensors, Displays, Diverters, and Others. Based on Type, the market report segments the market into Loop Type and Linear Type. Based on Vertical, the market report segments the market into Logistics, Pharmaceuticals & Medical Supply, Airports, E-Commerce, Food & Beverages, and Others. Based on Regions, the Parcel Sortation Systems market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The market research report covers the analysis of key stake holders of the Global Parcel Sortation Systems Market. Key companies profiled in the report include Siemens AG, Vanderlande, BEUMER Group, Honeywell International, Inc. (Intelligrated), Bastian Solutions, LLC, Fives Group, KION Group (Dematic), Interroll, Muratec, and Invata Intralogistics, Inc.