The smart parcel delivery locker market is expected to grow from US$ 677.6 million in 2021 to US$ 1,644.1 million by 2028; it is estimated to grow at a CAGR of 13.5% from 2021 to 2028.
The increasing post and parcel industry is propelling parcel delivery companies to adopt advanced smart technologies to enhance customer satisfaction. There is a rising demand for smart cooling lockers across the food & beverages industry vertical to preserve and provide fresh food products. The rising penetration of the internet and smartphones has enabled consumers to import products, resulting in considerable growth in parcel shipments. The rising demand for modern solutions to manage package, mail, and asset delivery from residential and corporate sectors is contributing to the market growth. The growing demand from retail, colleges and universities, and other sectors to transform package and mail delivery is driving the smart parcel delivery locker market.
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Smart Parcel Delivery Locker Market: Strategic Insights
Market Size Value in US$ 677.6 million in 2021 Market Size Value by US$ 1,644.1 million by 2028 Growth rate CAGR of 13.5% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Smart Parcel Delivery Locker Market: Strategic Insights
| Market Size Value in | US$ 677.6 million in 2021 |
| Market Size Value by | US$ 1,644.1 million by 2028 |
| Growth rate | CAGR of 13.5% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Players in the smart parcel delivery locker market are adopting and innovating new products to cater to the demands of evolving online marketplaces, emerging businesses, retailers, and consumers. The rise in trend of digitization and increase in demand for faster, more flexible, and lower-cost parcel delivery services are driving the market. The proliferation of the internet and smart devices has increased users' ability to manage the entire transaction from product selection to payment to shipment tracking on their smartphones. Rising disposable income and changing consumer preferences are fueling the demand for digital parcel delivery solutions. Digital parcel delivery enables customers to retrieve packages and mails by providing a centralized delivery point and audit tracking benefits. Electronic digital parcel delivery lockers installed at apartment complexes, small businesses, and large enterprises send instant notifications to the recipient that their package has arrived. The smart locker also ensures that their package is safe and secure throughout every step of the delivery process. An immense surge in the growth of online platforms across the globe post-COVID-19 pandemic is further driving the demand for digital and advanced smart parcel lockers.
Impact of COVID-19 Pandemic on Smart Parcel Delivery Locker Market
After witnessing a significant drop in 2020 due to the onset of COVID-19, the global parcel locker manufacturing market began witnessing a gradual recovery in consumer demand since the last quarter of 2020. Rapid recovery in online sales is anticipated to boost the demand for smart parcel delivery lockers during the forecast period. According to the United Nations Conference on Trade and Development, COVID-19 has led to a surge in e-commerce and digital transformation amid slowing economic activity. Retailers and delivery companies are working to cater to the growing customer demand efficiently. Adjusting to the new normal, businesses and consumers are providing and purchasing more goods and services online. The colleges and universities across the globe are also rethinking their mail and package delivery processes as students and faculty prepare to return to campuses. Smart locker technologies with touch-free package delivery are rapidly gaining popularity among retailers, universities, and corporations amid COVID-19 scenarios. Buy online, pick up in store (BOPIS) is being embraced by customers and businesses to reduce exposure to the COVID-19 virus and eliminate shipping fees and operational costs.
Lucrative Regions for Smart Parcel Delivery Locker Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insight
Growing E-Commerce and Parcel Volumes
The rise of e-commerce has led to a significant increase in the number of parcel volumes, which is driving the smart parcel delivery locker market. In October 2020, Pitney Bowes—a technology company and a commerce solutions provider—reported that the global parcel volume surpassed 100 billion for the first time in 2019, with a growth of 17.7%. China accounts for the generation of more than three of every five parcels shipped in the world's major markets. China also reported 63.5 billion parcels shipped in 2019, with a 26% increase in parcel volumes. The growth of the e-commerce industry and surge in parcel volume are propelling the adoption of advanced technologies to provide reliable and secure services to customers. There is rapid popularity of e-commerce lockers in highly populated localities for easy access to customers. Companies can deliver the goods to e-commerce lockers, which customers can receive using the password sent by e-commerce companies. E-commerce smart lockers can help businesses greatly reduce costs and help manufacturers and rental services benefit from the growing demand, which is anticipated to propel the market growth during the forecast period. Due to the rising demands and digitization trends, startups such as Smartbox are providing smart e-commerce lockers, which is expected to drive the smart parcel delivery locker market in the coming years.
Type Segment Insights
Based on type, the global smart parcel delivery locker market is segmented into standard smart locker and temperature controlled smart locker. A smart parcel delivery locker plays a major role in the logistics sector, with billions of parcels delivered across the globe. End-use industries are demanding an infrastructure that can improve the way parcels are delivered. The growing demand for green, lean automated parcel locker technology and other delivery options is bolstering the market growth. Players in the smart parcel delivery locker market are offering standard smart locker systems with closed-loop access. For instance, Quadient provides a standard parcel locker to make parcel processing more efficient and improve user satisfaction. Its easy-to-use interface enables users to track parcels and get notifications of parcel delivery in real-time. The solution also provides an automated workflow to facilitate the package delivery and return processes.
Smart Parcel Delivery Locker Market, by Type (% Share)
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Component Segment Insights
Based on component, the global smart parcel delivery locker market is segmented into hardware and software.
A smart parcel delivery locker hardware consists of a modular locker design with a locker combination, touch screen and keypad to interact with the smart parcel locker, electronic locks, integrated security cameras, smart IR Sensors, computer systems, and smart locking devices, among others. Growing demand for intelligent locker solutions for trusted delivery and storage of personal and business assets is driving the demand for a secure locker system that provides a complete, real-time view of the state of each locker compartment. Smartbox is a global provider of smart locker technology and provides a wide range of smart lockers deployed in various industry verticals. The company offers a secure, efficient, accountable, convenient package delivery and auditable asset storage with 24/7 access to lockers. Smart box's smart parcel delivery locker system ensures maximum equipment uptime and efficiency with remote monitoring, diagnostics, and repair.
Application Segment Insights
Based on application, the global smart parcel delivery locker market is segmented into retail, residential, university, office, and others. With the rise of online trade, the number of packages and deliveries by logistics service providers is increasing in a double-digit percentage. Therefore, businesses are developing smart delivery locker systems with dynamic sizing, insertion, and package closure to help them grow and stay ahead of the competition. Many are offering 24/7 smart lockers controlled by intelligent software, enabling secure goods delivery. Modular, non-refrigerated, or refrigerated lockers that can be customized extensively to suit particular needs are bolstering the market growth in the retail sector. The use of sensors in each compartment provides high levels of safety and security. Modern logistics solution consists of a locker unit with all information for parcel tracking, user management, and operation monitoring. The Automated Package Nexus Retail Solution is designed to significantly address the post-COVID-19 "New Normal" while providing a contactless shopping experience for customers, a self-service outdoor smart locker solution with temperature controlled solutions for grocery stores. In 2016, Walmart selected Cleveron 401 Pickup Tower solution for the stores across the US and Canada to strengthen its e-commerce businesses using a buy online pick up in store (BOPIS) solution.
The market players focus on new product innovations and developments by integrating advanced technologies and features to compete. In April 2020, Cleveron announced that by the end of 2020, parcel lockers would be installed in every village and town. People have a variety of delivery choices, including drive-in collection, courier services, BOPIS, and outdoor package lockers located across the region.
Smart Parcel Delivery Locker Market – by Type
- Standard Smart Locker
- Temperature Controlled Smart Locker
Smart Parcel Delivery Locker Market – by Component
- Hardware
- Software
Smart Parcel Delivery Locker Market – by Application
- Retail
- Residential
- University
- Office
- Other
Smart Parcel Delivery Locker Market – by Region
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia
Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Smart Parcel Delivery Locker Market – Company Profiles
- Cleveron
- DeBourgh
- KEBA
- KernPack
- Package Nexus
- Patterson Pope
- RENOME SMART
- Smartbox Ecommerce Solutions Private Limited
- Snaile Inc.
- TZ Limited
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Component, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America held the largest market share in year 2020, along with the notable revenue generation opportunities in Europe and APAC.
Key companies in the smart parcel delivery locker market include Cleveron; DeBourgh; KEBA; KernPack; Package Nexus; Patterson Pope; RENOME SMART; Smartbox Ecommerce Solutions Private Limited; Snaile Inc.; and TZ Limited.
Based on Application, the global smart parcel delivery locker market is segmented into retail, residential, university, office, and others. The global smart parcel delivery locker market is dominated by retail segment in 2020, which accounted for more than 35% market share.
Buy online, pick up in store (BOPIS) is emerging as an ideal strategy for retail stores. BOPIS enables customers to shop from the comfort of their homes and receive their parcels from a store or pickup location. The retailers are rapidly using BOPIS or click and collect to offer in-store pickup for customers, giving them the option to pick up a purchased item in-store rather than having it shipped to their home. There is also a rising trend of curbside pickup, where customers can pick up their items outside the store or in the parking lot. This makes the solution less expensive both for businesses and customers as it eliminates shipping fees and operational costs associated with the shipping of the orders. The flexibility offered by the BOPIS shopping experience is increasing the adoption of smart parcel delivery locker systems for order storage and management.
The growing consumer demand for faster and flexible shipments enables the market players to improve their services and develop autonomous technology-equipped parcel storage systems as an effective and long-term solution to last-mile delivery challenges. Investments in new technologies enabling greater efficiency are anticipated to provide lucrative growth opportunities to the market vendors. Automated smart parcel locker solutions provide functionalities that enhance and amplify logistics companies' mail and package deliveries. Autonomous technology for the storage and management of parcels offers secure, efficient, accountable, convenient package delivery and auditable asset storage with the access to track deliveries remotely.
Growing E-Commerce and Parcel Volumes
Increasing Demand for Digital Parcel Delivery Solutions
The List of companies - Smart Parcel Delivery Locker Market
- Smartbox
- Cleveron
- DeBourgh
- KEBA
- Kern Ltd
- Package Nexus
- Patterson Pope
- RENOME SMART
- Snaile Inc.
- TZ Limited
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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