Parcel Locker Market to Reach US$918m by 2024

The global automated parcel locker market, which accounted for US$335m in 2015, is expected to reach US$918m by 2024, according to the latest market intelligence report by Transparency Market Research. The report has forecast a compound annual growth rate (CAGR) of 12% throughout the nine-year period, due mainly to the booming e-commerce business around the world.

Singapore Post is a leading user of parcel locker systems  -  company courtesy.
Singapore Post is a leading user of parcel locker systems - company courtesy.

Automated parcel delivery terminals have been developed to simplify modern-day logistics operations, which are deployed in populous areas such as walkways, shopping malls, grocery outlets and railway stations. The terminals allow recipient to receive and return parcel as per their convenience 24/7.
In 2015, the global parcel locker market was 17,719 units, and is projected to reach 46,063 units in 2024, rising at a CAGR of 11.4%.
Europe led the automated parcel terminal market due to the prominence of e-retail businesses and established logistics ecosystems in countries such as Germany, the UK and the Netherlands, and it was followed by Asia Pacific in 2015.

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Europe dominates the automated parcel delivery terminals market
The early adoption of automated parcel terminals among retailers, logistics companies, and government organisations, such as postal services providers, was the key parameter. It led to the dominance of the automated parcel delivery terminals market in Europe, while countries such Australia, Japan, China, and Singapore are some of the frontrunners in terms of the adoption of automated parcel delivery terminals in Asia Pacific.
However, India, Thailand, South Korea and some countries in the Middle East region also offer significant growth opportunities for automated parcel delivery terminals.
At present, the automated parcel delivery terminal market is dominated by large European manufacturers, although new entrants, especially from emerging economies, are likely to mark their presence in the near term.

Nol van Fenema

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