The global smart parcel delivery locker market is experiencing significant growth in few year, owing to technological integration in the smart locker systems. Smart parcel lockers are automated systems that make it easier for companies to store parcels. They provide users with secure access to stocks and assets from near and far locations by automatically giving them details about their package. In addition, they help retailers reduce last-mile shipping costs and allow them to leverage inventory in their stores.
The world is going through a crisis unprecedented in human history. Almost a third of the world's population is in lockdown. Staying home and social distancing is the only ways to stop the wider impact. However, this has led to huge demand and a rush to stockpile essential commodities such as groceries and medicines. This has further increased the risk of virus spread through person-to-person contact, even with home delivery of essentials. Personal contact is a key risk factor for the coronavirus. So, for businesses to function, they ideally need a contactless way to interact with customers, which provide lucrative opportunities for the growth of the smart parcel delivery locker market.
Market Scope and Structure Analysis
Smart Parcel Locker is a popular and very interesting solution for an efficient last-mile delivery system. It is a type of electronic locker managed by a computer used for digital parcel delivery by the electronic concierge, allowing recipients to retrieve parcels and mail at any time. The smart parcel lockers provide a centralized delivery point, extending the chain of custody and providing audit tracking. It provides an instant notification service via email and SMS to a customer when their packages have been delivered.
Covid-19 Impact Analysis
- COVID-19 crisis is likely to affect the smart parcel delivery locker market negatively, as a result of halted manufacturing and a massive reduction in demand for luxury and non-essential services globally.
- COVID-19 crisis had a mixed impact on the smart parcel delivery locker industry, mainly due to the closure of physical retail stores globally. However, the availability of online retailing has absorbed the high impact of this shutdown.
- The requirement of e-commerce specific packaging is likely to remain strong, although the e-commerce companies would have to focus on the protection of goods and sanitization of packages.
- In addition, the smart parcel delivery locker industry is on the frontline within the packaging market, owing to the demand for essential products such as groceries and fresh food mainly from local e-retail sites.
- Industrial, transportation, and bulk packaging have faced a sharp decline, owing to decreased demand for non-essential goods during 2020.
- Owing to the lowered disposable income of the maximum population and weak demand for packaging from industrial goods, the packaging industry might face significant pressure of reduction in both wholesale as well as retail costs.
- Consumers are likely to stay hesitant for consumption of luxury products, travel, and hospitality services, which is expected to hinder the smart parcel delivery locker industry growth in the future after the COVID-19 crisis.
Top Impacting Factors
In addition, the postal and parcel industry is expected to grow in the forecast period. The growing e-commerce industry is driving parcel delivery companies to adopt advanced smart technologies to improve customer satisfaction by providing reliable and safe parcel services. Moreover, offers like free delivery and no shipping costs are leading to a burgeoning postal and parcel industry around the world. The increasing adoption of smart technologies such as smart refrigerators across the food and beverage sector to store and deliver fresh food is another factor that is expected to fuel the growth of the global smart parcel delivery locker market in the coming years.
Market Trend
- Smart lockers can help businesses reduce costs significantly and help manufacturers and rental services capitalize on the growing demand that is expected to drive the market growth over the forecast period. Due to the increasing demands and digitization trends, start-ups like Smart box are offering smart e-commerce lockers that are expected to drive the market for smart parcel delivery lockers in the forecast period.
Key Benefits of the Report
- This study presents the analytical depiction of the smart parcel delivery locker market along with the current trends and future estimations to determine the imminent investments pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the smart parcel delivery locker market.
- The current market is quantitatively analyzed to highlight the smart parcel delivery locker market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report Provides a detailed analysis of the smart parcel delivery locker market analysis based on competitive intensity and how the competition will take shape in the coming years
Smart Parcel Delivery Locker Market Report Highlights
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