PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1570904
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1570904
The Global Automated Parcel Delivery Terminals Market was valued at USD 872.3 million in 2023, and projections indicate over 11% CAGR from 2024 to 2032. Advanced technologies like artificial intelligence (AI), the Internet of Things (IoT), and machine learning are revolutionizing automated parcel delivery terminals. These innovations facilitate real-time terminal network monitoring, predictive maintenance, and bolstered security features, including facial recognition and biometric authentication.
Furthermore, AI analytics optimize locker allocation, adapting to changing parcel volumes. Meanwhile, IoT connectivity ensures smooth communication between terminals and central systems for offering real-time updates and enriching the customer experience. In August 2023, InPost, in collaboration with Vinted, unveiled the 'InPost Shop' in the U.K. This new parcel pick-up service caters to Vinted's eight million U.K. members for offering collection options at select stores. This initiative complements Vinted's existing network of 5,000 lockers and aims to meet the surging demand for out-of-home (OOH) delivery solutions.
The automated parcel delivery terminals market is segmented into component, deployment location, terminal type, end-use, and region.
The market distinguishes between indoor and outdoor terminals based on deployment location. In 2023, indoor terminals captured over 57% of the market share, primarily due to their superior security and safety features. Located in environments like shopping malls, residential complexes, and transit hubs, indoor terminals benefit from protection against weather and vandalism, significantly mitigating risks of damage or theft.
The market categorizes end-use into government, retail, shipping and logistics, and other sectors. In 2023, the retail segment held a notable 34% share, driven by its pressing need for efficient parcel handling. E-commerce retailers, grappling with high parcel volumes, find automated terminals invaluable. These terminals not only streamline last-mile delivery but also empower customers to conveniently pick up orders while minimizing missed deliveries and costly redelivery attempts.
Asia Pacific, holding over 35% of the market share in 2023, is witnessing a surge in automated parcel delivery terminals. The region's e-commerce boom, especially in nations like China, India, and Japan, has spurred the demand for efficient parcel solutions. Given the challenges of last-mile delivery in its densely populated urban centers, automated terminals emerge as a strategic solution to enhance logistics and delivery efficiency.