Global Smart Parcel Locker Market
Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Global Smart Parcel Locker Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering. Residential Parcel Drop Box
As global commerce continues to expand, the demand for efficient delivery and collection solutions is on the rise. The smart parcel locker market is experiencing significant growth, with a projected CAGR of 13.84%, set to reach USD 1,274.291 million in 2028 from USD 514.286 million in 2021.
Smart parcel lockers are revolutionizing the world of parcel deliveries, offering integrated automation to enhance security and tracking capabilities. These lockers provide confidence to both vendors and consumers by improving parcel safety and offering seamless tracking and delivery confirmations through QR codes or SMS. As major shipping companies worldwide adopt this innovative solution, it not only enhances parcel security but also ensures contactless deliveries and flexible service hours, ultimately leading to increased customer satisfaction.
The rise in parcel theft incidents and the growing preference for contactless delivery are key drivers of smart parcel locker adoption. These lockers significantly reduce the risk of theft and provide customers with automated notifications for comprehensive parcel tracking. Although wholesale businesses may face certain challenges in adopting this system, the market continues to present new opportunities, including strategic collaborations and product launches by industry leaders.
Investing in the smart parcel locker market can place your business at the forefront of industry trends, improving security, efficiency, and customer satisfaction. Prioritizing these innovative delivery solutions ensures the safety of your parcel logistics and boosts customer confidence.
1. Growing Incidences of Parcel Thefts:
The smart parcel locker market is on the rise due to increasing parcel theft incidents. For example, a survey by the UK E-commerce Association revealed a 7% increase in parcel thefts in 2021, with approximately 1 billion stolen parcels reported in 2020 and 2021.
Smart parcel lockers ensure parcel safety by using measures like one-time passwords, barcodes, QR codes, and SMS codes, along with automated notifications for customers.
2. Demand for Contactless Delivery and Flexible Service Hours:
The post-pandemic focus on cleanliness and hygiene has led to a preference for contactless delivery.
Customers with busy schedules and varying work shifts are demanding flexible parcel delivery timings.
Smart parcel lockers address these needs by enabling contactless deliveries and providing customers with round-the-clock access to their parcels.
3. Restraint: Incompatibility with Wholesale Businesses:
While smart parcel lockers are effective for small and medium-sized parcels, they may not meet the requirements of wholesale businesses.
The effectiveness of a smart locker system depends on compatibility with a company's business nature.
1. WIB Smart Lockers and SendeeX Collaboration (February 2022):
WIB Smart Lockers collaborated with SendeeX to introduce SesamoBox, an all-time available parcel service with two types of smart locker systems activated through mobile applications.
2. Quadient and DHL Parcel UK Partnership (September 2022):
Quadient, a smart locker manufacturer, partnered with DHL Parcel UK to ensure safe parcel delivery through the installation of over 500 locker stations.
3. Pitney Bowes Launches Parcelpoint Smart Lockers (June 2021):
Pitney Bowes introduced Parcelpoint Smart Lockers as part of its smart locker product line to enhance parcel safety through SaaS software.
North America's Significance in the Market:
North America is a key region for the smart parcel locker market, witnessing increased mail, parcel, and courier deliveries due to globalization and digitalization.
Leading parcel companies like United Parcel Service, FedEx, and Pitney Bowes contribute to the growth of smart parcel lockers in the region.
By Component: Hardware, Software and Services
By Geography: North America, South America, Europe, Middle East and Africa, Asia Pacific
Smartbox Ecommerce Solutions Pvt. Ltd.
Parcel Pending LLC. (Quadient SA)
Estimated Market Value (USD) in 2021
Forecasted Market Value (USD) by 2028
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Parcel Locker Tracking Global Smart Parcel Locker Market