The global smart parcel locker market is estimated to witness a strong growth rate of more than 12% during the forecast period. A smart parcel locker is a self-directed ampoule technology used for storing and delivering parcels and packages. It is also called a smart integrated lock which is a popular and intriguing alternative to a well-traveled delivery system.
Rapid growth in online shopping & E-commerce, technology upgradation, and increasing focus on providing optimum solutions to customers are some of the key factors expected to boost the demand for intelligent parcel lockers across the globe. Moreover, contactless delivery, complete chain of custody, 24/7 self-service access, prompt delivery, and installation are some of the benefits which are anticipated to further propel the demand for the adoption of smart parcel lockers globally. However, limited locker capacities are one of the major challenges faced by the market.
Modular parcel lockers are anticipated to hold a significant share of the global market
The modular parcel locker is dominating the global smart parcel locker market and is anticipated to dominate during the forecast period. Modular parcel lockers have a modular design where the locker modules contain one hanger rod each, equally distributed shelf loads, and high-quality stainless steel door hinges. The modular parcel locker is observing high demand across the globe due to easy installation, maintenance, and flexible usage.
However, as a result of technological upgradation, cooling lockers are anticipated to grow at a rapid pace during the forecast period. Cooling lockers are used to keep foods fresh by setting the temperature between 2º to 7º C inside the locker. In addition, these lockers have polyurethane foam insulation, fan cooling, and refrigerant gas. Other key features that help customers to shift over cooling lockers are surveillance cameras, intelligent sensing, digital energy meter, leakage protection, and temperature detection/control. Increasing orders of specific food/fruits and other temperature-sensitive goods like cosmetics are further expected to propel the demand for cooling lockers across the globe. Smart parcel lockers are now increasingly being installed with autonomous ground vehicles (AGVs) as the AGVs reduce the high rental cost of fixed lockers. Refrigerated smart parcel lockers are likely to gain prominence in the coming years.
The adoption of advanced parcel management solutions led Europe and North America to dominate the global market
Europe dominated the global smart parcel lockers market in 2021 and is expected to dominate during the forecast period, followed by North America. The increasing adoption of advanced parcel management solutions by prominent e-commerce players in the region is fuelling the growth of the regional market. The Asia Pacific is anticipated to grow significantly owing to the presence of prominent e-commerce players such as Alibaba, JD.com, and others. Due to the government’s insistence on enhanced technology adoption by post offices, India’s use of parcel lockers is expected to increase.
The surge in the growth of the transportation and logistics industry across the Middle East & Africa is also expected to further drive the demand for the regional smart parcel locker market. In Europe, the smart parcel locker market is expected to grow at a robust rate due to high investment in smart lockers. Europe-based retailers have partnered with many logistics firms to deliver lockers. In Latin America, the market is anticipated to grow considerably on account of the growing need for improved logistics experience by customers.
Also, explore India E-Commerce Logistics Market Report
Market Structure and Competitive Landscape
The global smart parcel market is fragmented in nature with the presence of many players in the market. Some of the prominent players operating in the global market include TZ Limited, Quadient SA, Ricoh Group, Pitney Bowes Inc, KEBA AG, DE Bourgh Manufacturing Company, Mobiikey Technologies Pvt Ltd., Parcel Port, Florence Corporation, Abell International Pte Ltd., CleverBox Co., RENOME Group, Cleveron, Kern Ltd, and Alpha Locker System among others. These players adopt various strategies including mergers and acquisitions, partnerships, and collaborations to remain competitive and gain market share in the market.
- In September 2022, Industrial automation company Arka opened a US$ 2 million (€2 million) smart locker factory in Romania.
- In September 2022, Swedish last-mile delivery companies Budbee and Instabox merged together under a new holding company, Instabee.
- In March 2022, Quadient announced its collaboration with the DHL delivery network to expand its delivery location in Sweden with smart outdoor parcel lockers.
- In December 2021, Luxer One announced its partnership with Tribe Property Technologies Inc., to bring secure and versatile parcel storage to communities across Canada.
Key Market Segmentation
RationalStat has segmented the global smart parcel locker market on the basis of type, application, deployment, and region.
- By Type
- Modular Parcel Locker
- Cooling Locker
- Postal Locker
- Laundry Locker
- Others (Self-Service Parcel Locker)
- By Application
- Government Agencies
- (Post Offices, etc.)
- Colleges and Universities
- Public Enterprises and Commercial Buildings
- Others (Residential, etc.)
- By Deployment
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid database including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for global smart parcel locker manufacturers, government organizations, educational organizations, regulatory agencies, logistic companies, e-commerce companies, post offices, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The Global Smart Parcel Locker Market is expected to grow at a CAGR of over 12% during the forecast period 2022-2028.
Europe is dominating the Global Smart Parcel Locker Market in 2021.
The Global Smart Parcel Locker Market is estimated at around US$ 680 million in 2020.
Technological advancements in E-commerce and growth in online shopping are the key drivers of the Global Smart Parcel Locker Market.
Major companies operating in the Global Smart Parcel Locker Market include TZ Limited, Quadient SA, Ricoh Group, Pitney Bowes Inc, KEBA AG, DE Bourgh Manufacturing Company, Mobiikey Technologies Pvt Ltd., Parcel Port, Florence Corporation, Abell International Pte Ltd. etc.