Dublin, April 18, 2022 (GLOBE NEWSWIRE) -- The "Parcel Sortation Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Parcel Sortation Systems Market to Reach $1.8 Billion by 2026
Amid the COVID-19 crisis, the global market for Parcel Sortation Systems estimated at US$1.3 Billion in the year 2020, is projected to reach a revised size of US$1.8 Billion by 2026, growing at a CAGR of 6.7% over the analysis period.
Technological advancements and automation are contributing towards positive growth of markets for parcel and mail solutions in both developed as well as developing regions of the world. In particular, significant increase in the adoption of the technology by warehouse operators, logistic partners, delivery centers and logistics companies within regional countries is spurring growth of the market.
Hardware, one of the segments analyzed in the report, is projected to grow at a 6.3% CAGR to reach US$984.8 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 6.9% CAGR for the next 7-year period. This segment currently accounts for a 33.2% share of the global Parcel Sortation Systems market.
The U.S. Market is Estimated at $306.1 Million by 2021, While China is Forecast to Reach $237.9 Million by 2026
The Parcel Sortation Systems market in the U.S. is estimated at US$306.1 Million in the year 2021. The country currently accounts for a 23.26% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$237.9 Million in the year 2026 trailing a CAGR of 8.5% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 5.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR while Rest of European market (as defined in the study) will reach US$260.4 Million by the close of the analysis period.
The market is expected to be driven by need for automation, high labor costs and rapidly expanding e-commerce. Asian economies with large population and significant disposable incomes are expected sustain growth in e-commerce. The same is likely to positively impact and spur growth in the parcel sortation systems market as well. A mature e-commerce industry continues to expand as it finds growing acceptance worldwide.
China and US alone account for over 60% of global e-commerce. Ease of purchase and convenient delivery options have contributed to widespread acceptance of e-commerce. Online shopping has been largely driven by the e-commerce revolution. Increased smartphone usage combined with improved data network has helped spur online shopping industry. Online retailing has witnessed development of support infrastructure such as parcel warehouses and delivery centers. The postal industry also requires higher levels of automation for sorting parcels and their delivery.
Even as traditional postal mails have declined significantly in volume, the industry also faces several challenges both operational and design. In addition, the emerging demand for warehouse management systems is projected to propel growth in emerging economies. Other key factors driving the market`s growth include increasing demand for automated technologies and the significant growth being witnessed within the global e-commerce market.
Services Segment to Reach $309.4 Million by 2026
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 7.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$159.4 Million in the year 2020 will reach a projected size of US$257.4 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$26.8 Million by the year 2026, while Latin America will expand at a 8.4% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of COVID-19 on the Parcel Industry
COVID-19 Pandemic Piles Up Huge Backlogs for Parcel Industry in the US
Postal Service Delays in the USA
The Plight of South Korea's Delivery Workers during COVID-19
Automation is the Name of the Game
An Introduction to Parcel Sortation Systems
Sortation Systems by Type
Sortation Systems for Postal Department
Global Market Prospects & Outlook
E-Commerce to Enable Greater Market Penetration
Technology to Drive New Innovations
AI to Power New Solutions
Challenges and Growth Opportunities
Developed Markets: Traditional Revenue Contributors for Parcel Sortation Systems Market
Developing Markets to Turbo Charge Future Growth in the Parcel Sortation Systems Market
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 60 Featured)
Alstef Automation S.A.
Bastian Solutions, LLC
Bowe Systec GmbH
Daifuku Co. Ltd.
Falcon Autotech Private Limited
GBI Intralogistics, Inc.
Honeywell International Inc
Murata Machinery, Ltd.
Okura Yusoki Co. Ltd.
Pitney Bowes Inc.
Siemens Logistics GmbH
Vanderlande Industries B.V.
3. MARKET TRENDS & DRIVERS
Parcel Sorting Robots of Different Sizes Proliferate the Market
AI-Based Robots for Parcel Sorting and Singulation Improves Productivity
Interweaving Robotic Sorting Solutions Seek Role
Circle Sorters & Line Sorters Continue to Make Gains
Advanced Parcel Sortation Systems Strengthen Order Fulfilment Process
Parcel Supply Chain Trends Favor Market Expansion
Rising Demand for High-Volume Parcel Sortation Systems
High-Speed Parcel Sortation Systems Make a Cut
Parcel Sorting Systems Set to Widen Footprint in CEP Industry
Automation of Parcel Sortation: Critical for Logistics Enterprises
Ongoing Emphasis on Postal Automation Widens Opportunities for Parcel Sorters
Rapid Growth of E-Commerce Industry Fuels Demand for Parcel Sortation Systems
Diverse Aspects Influence Uptake of Sorting Systems in eCommerce Domain
Advanced Sortation Systems Come to the Fore to Address Growing Needs of eCommerce Enterprises
Growing E-Commerce Drives Demand for Automated G2P Systems
Automated Parcel Delivery Set to Transform the Last Mile
Automated Parcel Sorting Solutions Set to Enhance Addressable Market
Automated Sortation Systems Enhance Efficiencies and Lower Costs
Technology Advancements & Innovations to Aid Future Expansion of the Market
Growing Use of Sortation Systems Across Diverse Domains Augments Parcel Sorting Systems Demand
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/ae6ucc
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