Smart Parcel Locker Market Size Worth $ 2,560.03 Million By 2032 | CAGR: 12.4%

The global smart parcel locker market size is expected to reach USD 2,560.03 Million by 2032, according to a new study by Polaris Market Research. The report “Smart Parcel Locker Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware and Software); By Type; By Application; By Region; Segment Forecast, 2024 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market growth is influenced by a rapid surge in e-commerce activities and deliveries and growing urbanization, particularly in developing nations. The growing consumption of goods because of the increased global population and huge demand for contactless solutions further propelled the market’s growth.

• For instance, as per a recent report, the B2C (Business-to-consumer) shipments in India increased from 3 million shipments per day in 2018 to 4 million shipments per day in 2019 and are estimated to reach 12 million shipments per day by 2024.

In addition, with companies investing heavily towards advancing smart parcel lockers with the integration of innovative technologies like IoT and RFID that enable these lockers to offer efficient and secure parcel delivery solutions, the adoption and demand for these lockers will increase drastically in the coming years. For instance, in November 2023, Blue Dart Express Limited introduced its new digital smart lockers in partnership with India Post, which will provide customers with an efficient alternative delivery method.

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Companies have introduced smart parcel lockers with enhanced safety features and convenience. For instance, in October 2022, Aeropost announced that the company will launch its new smart parcel locker, which will be available to customers, government, financial institutions, and large organizations.

There has been a surge in companies’ interest in the potential of Artificial Intelligence to transform package delivery technology as AI is being widely used to automate various key tasks in the logistics and last-mile delivery process ranging from package tracking. Also, AI applications enable robot-operated fleets of ground delivery & self-navigation drones, which effectively increase efficiency and speed while reducing the overall labor costs related to package delivery.

Smart Parcel Locker Market Report Highlights

• The hardware segment led the market with a substantial share on account of its flexibility, ease of use, and ability to be customized in any setting or size
• Modular parcel lockers segment accounted for a notable share due to its adoption as a cost-effective and fixed locker for handling parcels
• Commercial buildings segment will grow fastest, attributable to the growing rate of urbanization and implementation of smart lockers at building premises
• North America dominated the global market, owing to the region’s wider presence of online shoppers and awareness about the benefits of such lockers
• The Key market players include ParcelPort Solutions, Ricoh Group, TZ Limited, LUXER Corporation, Kern Limited, Hollman Inc., and Focus Action

Polaris Market Research has segmented the smart parcel locker market report based on component, type, application, and region:

Smart Parcel Locker, Component Outlook (Revenue - USD Million, 2019 - 2032)

• Hardware
• Software

Smart Parcel Locker, Type Outlook (Revenue - USD Million, 2019 - 2032)

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

Smart Parcel Locker, Application Outlook (Revenue - USD Million, 2019 - 2032)

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

Smart Parcel Locker, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Smart Parcel Locker Market Report Scope