PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1350320
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1350320
Global automated parcel delivery terminals market size was valued at US$ 746.9 Mn in 2022, exhibiting a compound annual growth rate (CAGR) of 12.8% from 2023 to 2030.
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2022 | Market Size in 2023: | US$ 833.9 Mn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 12.80% | 2030 Value Projection: | US$ 1,935.8 Mn |
Automated parcel delivery terminals, also known as automated lockers, are state-of-the-art self-service units that are strategically placed in high-traffic locations such as shopping malls, airports, and train stations. These intelligent terminals streamline the package pickup and return process, and provides the customer 24/7 access and convenience. The recipient will receive a unique code or her QR code in her SMS or email, and will be able to access the locker along with the package without the need for face-to-face interaction. This safe and efficient solution streamlines last-mile logistics, and thus, helping businesses to reduce delivery delays and operational costs. Due to increasing importance of contactless transactions, automated parcel delivery terminals have become an essential solution in the modern e-commerce environment that provide customers with a safe and hygienic way to receive their parcels. Seamless integration of technology ensures a user-friendly experience, increases customer satisfaction, and strengthens the company's reputation for reliable and customer-oriented service.
The e-commerce industry is growing rapidly all over the world. Every day new e-commerce companies are founded and well established companies such as Amazon.com, Inc. and Alibaba Group grow rapidly Intensifying market competition in this e-commerce business is expected to increase demand for e-logistics in the market. In order to remain competitive in the global shipping market, delivery companies are focusing on speeding up deliveries and reducing operating costs. As a result, delivery companies will introduce automatic home delivery terminals. Rising delivery costs and high initial costs have led to usage of automated delivery terminals worldwide. In order to better serve people in remote areas, governments of several countries are also helping to install these terminals. Moreover, increasing usage of smartphones and tablets combined with internet is driving the market growth. However, concerns about parcel security and delivery of bulky parcels hamper growth of the global automated parcel delivery terminals market. However, this resistance will diminish over time as technology advances.