September 19, 2022 06:39 ET | Source: Exactitude Consultancy Exactitude Consultancy
Luton, Bedfordshire, United Kingdom, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Smart Parcel Locker market.
Smart Parcel Locker Market size is projected to reach USD 1782.73 Million by 2029, growing at a CAGR of 9.4% from 2022 to 2029.
A smart parcel locker is an autonomous container technology used to store shipments or deliveries that have been ordered online and delivered. Using this technology, package delivery management is safe and practical. The industry is anticipated to be driven by the expanding online marketplace. This system is being heavily embraced by commercial buildings and multi-tenant apartments to manage tall piles of packages for several receivers. Similar to this, businesses involved in logistics and e-commerce are moving toward implementing smart technology.
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Businesses may save expenses considerably with the aid of smart lockers, and manufacturers and rental companies can benefit from the rising demand that is anticipated to propel Smart Parcel Locker market expansion throughout the projected period. Start-ups like Smart box are providing smart e-commerce lockers as a result of rising demand and digitalization trends, and these lockers are anticipated to boost the Smart Parcel Locker market over the research period.
Smart Parcel Locker Market Key Players
Few of the important Smart Parcel Locker market players TZ Limited, CleverBox Co, Smartbox Ecommerce Solutions Pvt. Ltd, Abell International Pte. Ltd, Cleveron, Package Nexus, Mobiikey Technologies Pvt. Ltd, DeBourgh Manufacturing Co, KEBA AG and Quadient.
To Gain More Insights into the Analysis, Browse Summary of the Research Report @
https://exactitudeconsultancy.com/reports/2810/smart-parcel-locker-market/ Key Market Segments: Smart parcel locker Market
Smart Parcel Locker Market by Type, 2020-2029, (IN USD Million)
Smart Parcel Locker Market by Deployment, 2022-2029
Rise in E-Commerce Deliveries to Determination Smart Parcel Locker Market Growth
The demand for online shopping is rising due to trends that are expanding at an exponential rate. Many businesses have noticed an increase in delivery volumes over time. As an illustration, Deutsche Post DHL reported a 15% increase in packet delivery in 2020. Given the rise in business-to-customer parcel deliveries, the number of parcel shops or parcel locker outlets has expanded.
There has been a significant increase in the number of packages delivered to businesses that sell consumer electronics, clothes, and personal care products. E-commerce and digital platforms are gradually replacing traditional brick and mortar retail locations as the primary means of product delivery. Brick and mortar stores that used e-commerce platforms saw a 52% rise in conversion rates, according to Quantum Metric statistics.
The postal and parcel sector is also anticipated to expand throughout the projection period. As the e-commerce sector expands, parcel delivery businesses are being forced to implement cutting-edge smart technology in order to increase consumer satisfaction by offering dependable and secure parcel services. Additionally, promotions like free shipping and delivery are fueling a global postal and parcel industry boom. Another factor that is anticipated to propel the expansion of the worldwide smart parcel locker market in the upcoming years is the growing usage of smart technologies, such as smart refrigerators, throughout the food and beverage industry for the storage and delivery of fresh food.
Increasing adoption of smart lockers across e-commerce industry is boosting the demand of smart parcel locker market.
The postal and parcel sector is also anticipated to expand throughout the projection period. As the e-commerce sector expands, parcel delivery businesses are being forced to implement cutting-edge smart technology in order to increase consumer satisfaction by offering dependable and secure parcel services. Additionally, promotions like free shipping and delivery are fueling a global postal and parcel industry boom. Another factor that is anticipated to propel the expansion of the worldwide smart parcel delivery locker market in the upcoming years is the growing usage of smart technologies, such as smart refrigerators, throughout the food and beverage industry for the storage and delivery of fresh food.
The marketplace is making an effort to meet the growing demand for bigger, higher-capacity lockers. The absence of large-sized smart lockers is expected to limit the market's growth, despite the fact that manufacturers provide custom lockers with all-sized capacities. The high cost of investments in the internet network, real estate, power, and maintenance, among other things, presents another challenge for technological businesses. This will almost probably have a negative effect on the growth of the Smart Parcel Locker market. Market expansion was constrained since small and medium-sized enterprises couldn't afford to pay monthly fees for high-tech lockers.
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