Smart Parcel Locker Market

Market Overview:

The global smart parcel locker market size reached US$ 879.5 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 2,197.5 Million by 2032, exhibiting a growth rate (CAGR) of 10.71% during 2024-2032. The increasing risks of package theft, rapid urbanization, the growing incidences of failed delivery attempts, and the rising demand for a secure storage solution are some of the key factors driving the smart parcel locker market.

A smart parcel locker, also known as an intelligent or automated parcel locker, is a technology-enabled solution designed to simplify the package delivery and retrieval process. It provides a secure and convenient way for individuals and businesses to send, receive, and stock packages in a self-service manner. It is installed in central locations, such as apartment complexes, office buildings, universities, retail centers, and public spaces. The lockers have advanced features and technologies to streamline the parcel management process. When a package is delivered to a smart parcel locker, the recipient receives a notification via email, SMS, or mobile app with a unique pickup code or barcode. The recipient can then visit the locker location and enter the code or scan the barcode at the locker interface to access their package. The smart parcel locker system consists of multiple lockers of varying sizes, with each locker assigned to a specific recipient. The recipient's package is securely stored inside the assigned locker until they retrieve it. Some smart lockers also include temperature-controlled compartments for perishable or sensitive items. It offers numerous benefits to both recipients and senders. It eliminates the need for multiple delivery attempts and reduces the costs associated with failed deliveries.

Smart Parcel Locker Market Trends:

The global market is majorly driven by the increasing volume of e-commerce shipments, rapid urbanization, and the escalating demand for contactless delivery options. These lockers integrate with delivery management systems and can be connected to logistics networks, allowing seamless tracking and management of packages throughout the delivery process. With significant growth in the e-commerce sector and evolving consumer expectations, the adoption of smart parcel lockers is accelerating worldwide. Smart parcel locker offers recipients 24/7 access to their packages, allowing them to pick up their parcels at their preferred time, enhancing convenience and flexibility. This, in turn, is positively influencing the market. Furthermore, the increasing risks of package theft and the rising demand for a secure storage solution are catalyzing the market. Apart from this, the growing incidences of failed delivery attempts are acting as another growth-inducing factor as they incur additional costs for logistics providers, making smart parcel locker an efficient solution to reduce costs and improve operational efficiency. Moreover, the rapid product integration with delivery management systems is offering numerous opportunities for the market. Smart parcel locker can seamlessly integrate with existing delivery management systems, enabling real-time tracking, updates, and efficient package management. This integration streamlines the delivery process, enhancing operational efficiency and customer satisfaction. Besides, the uptake of smart lockers is an excellent option for lowering the environmental impact caused by expanding logistics. A smart parcel locker tracks usage patterns and optimizes energy consumption accordingly. In addition to this, the escalating awareness about the rising carbon footprint is further fueling the market expansion.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global smart parcel locker market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on component, type, deployment, and application.

Component Insights:

• Hardware
• Software
• Services
   

The report has provided a detailed breakup and analysis of the smart parcel locker market based on the component. This includes hardware, software, and services. According to the report, hardware accounted for the largest market share.

Type Insights:

• Modular Parcel Lockers
• Cooling Lockers for Fresh Food
• Postal Lockers
• Laundry Lockers
   

A detailed breakup and analysis of the smart parcel locker market based on the type have also been provided in the report. This includes modular parcel lockers, cooling lockers for fresh food, postal lockers, and laundry lockers. According to the report, modular parcel lockers represented the largest segment.

Deployment Insights:

• Indoor
• Outdoor
   

The report has provided a detailed breakup and analysis of the smart parcel locker market based on the deployment. This includes indoor and outdoor. According to the report, indoor represented the largest segment.

Application Insights:

• Commercial Buildings
• Condos and Apartments
• Retail BOPIS
• Universities and Colleges
• Others
   

The report has provided a detailed breakup and analysis of the smart parcel locker market based on the application. This includes commercial buildings, condos and apartments, retail BOPIS, universities and colleges, and others. According to the report, commercial buildings accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for smart parcel locker. Some of the factors driving the North America smart parcel locker market included the increasing volume of e-commerce shipments, the increasing risks of package theft and the rising demand for a secure storage solution.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global smart parcel locker market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include American Locker, Cleveron AS, Hollman Inc., KEBA Group AG, Kern Limited, Locker & Lock Pte Ltd, Luxer Corporation, Package Nexus, ParcelPort Solutions Inc., Pitney Bowes Inc., Ricoh Company Ltd., Snaile Inc., etc. Kindly note that this only represents a partial list of companies and the complete list has been provided in the report. 

Report Coverage:

Key Questions Answered in This Report:

• How has the global smart parcel locker market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global smart parcel locker market?
• What is the impact of each driver, restraint, and opportunity on the global smart parcel locker market?
• What are the key regional markets?
• Which countries represent the most attractive smart parcel locker market?
• What is the breakup of the market based on the component?
• Which is the most attractive component in the smart parcel locker market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the smart parcel locker market?
• What is the breakup of the market based on the deployment?
• Which is the most attractive deployment in the smart parcel locker market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the smart parcel locker market?
• What is the competitive structure of the global smart parcel locker market?
• Who are the key players/companies in the global smart parcel locker market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the smart parcel locker market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global smart parcel locker market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the smart parcel locker industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.