The Global Smart Parcel Locker Market size is expected to grow from USD 898.59 billion in 2022 to USD 2305.60 billion by 2030, at a CAGR of 12.5% during the forecast period (2023-2030).
Smart parcel lockers are manufactured with innovative technology keeping in mind the importance of having strong exteriors and developed internal systems. The lockers are manufactured by utilizing corrosion-resistant steel, and the kiosk is run by a Windows operating system. This modern and innovative combination of hardware and software packs a punch. The uprising of smart technologies has rebuilt the traditional way of last-mile delivery from logistics outlets to IoT-based parcel lockers owing to the flexibility, convenience, and 24/7 accessibility. Smart parcel lockers are automated systems that offer convenience for businesses to store parcels. They offer secure access to inventories and assets from close and remote locations to the customers by automatically notifying them of details about their parcels. Moreover, they help retailers overcome the costs of shipping and leverage the inventory at their stores.
Top Key Players for Smart Parcel Locker Market:
Smartbox Ecommerce Solutions Pvt. Ltd. (India), TZ Limited (Australia), CleverBox Co. (U.K.), Quadient (France), Abell International Pte. Ltd. (Singapore), Cleveron (Estonia), Package Nexus (U.S.), DeBourgh Manufacturing Co. (U.S.), Mobiikey Technologies Pvt. Ltd. (India), KEBA AG (Austria), and other major players.
Market Dynamics and Factors for Smart Parcel Locker Market:
Drivers:
Smart Parcel Lockers Overcome Labor Costs
Today's mail centers are covered with an influx of packages as well as both work-associated and personal deliveries and staff finds it difficult to keep pace, resulting in lost or mislaid packages. While there are upfront costs to a smart parcel locker system, they are offset by depletion in labor and reshipment costs and by the enhanced, contactless experience they provide employees. For corporate offices, a locker system enables the organization's mailroom to provide disregarded package retrieval without having to dedicate additional resources.
Opportunities:
Technological developments
Technological developments in the smart package and an increase in demand from emerging economies are some of the factors that are expected to generate lucrative opportunities for the smart parcel locker market in the upcoming years. For example, in July 2021, TZ Limited, a leading business in the creation of electronic locking devices, presented its initiatives. Through TZI Australia Pty Limited, Telezygology Inc., TZI UK Limited, and TZI Singapore, they are focusing on the expansion of smart devices and systems that allow the selling of software and hardware solutions to manage, control, and monitor company assets and deliver value-added services.
Segmentation Analysis of the Smart Parcel Locker Market:
- By Type, the modular parcel locker segment is expected to dominate the smart parcel locker market over the forecast period. These parcel lockers are designed in a modular format with one hanger rod per locker module, evenly distributed shelf loads, and high-quality stainless-steel door hinges. The modular design has the advantage of being simple to install, maintain, and use.
- By Product Type, the smart parcel locker market is segmented into Indoor and Outdoor. In 2016, the interior category accounted for a major portion of the Smart Parcel Locker market. The reduced risk of vandalism and burglary contributes to the appeal of indoor terminals. End-users find these terminals convenient, and they are simple to install owing to fewer regulatory and environmental restrictions. Furthermore, they make it simple to collect, transport, and reclaim items, even in inclement weather.
Regional Analysis of the Smart Parcel Locker Market:
North America region is anticipated to dominate the smart parcel locker market during the forecast period. The rising popularity of online shopping in North America is entrancing e-commerce providers to adopt technology that helps accomplish the demand and enhance the customer experience.
Key Industry Development:
- In March 2020, Eroski launched the latest smart lockers for online food delivery pickers. The smart, safe locker was installed in a hypermarket. The lockers are appropriate for all types of refrigerated, frozen, and room-temperature food products and guarantee food preservation.
- In June 2021, Your Pick-Up-Point (YPUP) introduced an advanced pick-up and parcel locker solution. YPUP provides a fully automated collection and drop-off solution for every workplace, industry, and market sector.
