According to the new research report published by The Insight Partners, titled “Automated Parcel Delivery Terminals Market — Global Analysis and Forecast to 2025”, The global automated parcel delivery terminal market is expected to grow at a CAGR of 12.0% during the forecast period 2018 - 2025, to account to US$1,973.4 Mn by 2025.
Automated Parcel Delivery Terminals market operates in a lately introduced highly-competitive marketplace. As leading companies in this market continues to broaden its addressable market, by expanding its current product portfolio, diversifying its client base, and developing new applications area, all the prominent players faces an increasing level of competition, both from start-ups as well the leading global players. Technology is witnessing a high growth owing to its increasing applications in several prominent end-user industries such as e-commerce, online retail, government and others.
The growing expectations of customers for cost efficient, more personalized, and faster delivery service has resulted in the adoption of alternate delivery services including, automated parcel delivery terminals. In the current market scenario of increasingly changing retail environment, stores and e-commerce companies are seeking for innovative ways to differentiate themselves from other players along with gaining competitiveness through cost-effectiveness.
Further, increasing shipping costs and high wages has led to adoption of automated parcel delivery terminals across the globe. Governments of several countries are also supporting the installation of these terminals to provide better services to the population in remote locations. Furthermore, the increasing penetration of smartphones and tables coupled with better internet infrastructure is propelling the market growth. However, security concerns and delivery of bulky parcels still acts as a restraint to the market. Although, with advancements of technology, the effect of these restraints will reduce over time.
Key findings of the study:
The partnership of e-commerce companies, retail firms, governments, and educational institutes with logistic companies is the major trend prevailing in the market for automated parcel delivery terminals. Also, companies are targeting untapped geographies to expand their reach. For instance, recently, Xiaomi, a Chinese smartphone company partnered with Smartbox, an automated parcel delivery terminals service provider with an aim to enhance its e-commerce presence across India.
Some of the key players operating in the automated parcel delivery service market are Bell and Howell, LLC; Cleveron AS; Engy Group; ByBox Holdings Ltd. InPost S.A.; KEBA AG; Neopost Group; Smartbox Ecommerce Solutions Pvt. Ltd.; TZ Ltd.; and Winnsen Industry Co., Ltd.
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