CHICAGO, July 5, 2023 /PRNewswire/ — The parcel sortation system market is expected to reach USD 2.8 billion by 2028 from USD 2.0 billion in 2023, at a CAGR of 7.0 % during the 2023–2028 period according to a new report by MarketsandMarkets™. The significant growth factors associated with the parcel sortation system market is the thriving e-commerce industry and the growing adoption of parcel sortation system in the industry. Additionally, labor cost inflation and an increase in industrial automation is driving the need of a parcel sortation system market. Furthermore, advancements in parcel sortation technologies using AI and ML, cost reduction, and favorable government policies and incentives are also contributing to the market’s growth.
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Browse in-depth TOC on “Parcel Sortation System Market”
183 – Tables
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236 – Pages
Parcel Sortation System Market Report Scope:
|
Report Coverage |
Details |
|
Market Revenue in 2023 |
$2.0 billion |
|
Estimated Value by 2028 |
$2.8 billion |
|
Growth Rate |
Poised to grow at a CAGR of 7.0% |
|
Market Size Available for |
2019–2028 |
|
Forecast Period |
2023–2028 |
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Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Segments Covered |
By Type, Offering, Application and Region |
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Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
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Key Market Challenge |
Real-time Technical Issues During Sortation |
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Key Market Opportunities |
Integration of emerging technologies like AI, Industry 4.0, IoT, with sorting systems |
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Key Market Drivers |
Thriving e-commerce industry and growing adoption of parcel sortation system in the industry |
Linear Parcel Sortation System Type segment is expected to account for the largest share of the parcel sortation system market during the forecast period.
The linear parcel sortation system type majorly comprises activated roller belt sorters, pop up sorters, shoe sorters, paddle sorters, pusher sorters, and others. Companies that are looking for high-speed parcel sortation systems prefer linear parcel sortation systems. These systems use a linear conveyor system to transport packages and sort them efficiently based on predefined criteria. These systems offer high-speed sorting, accurate routing, and improved productivity, benefiting businesses and logistics operations.
Logistics application is projected to account for a significant share of the parcel sortation system market during the forecast period.
The leading position of logistics can be attributed to the increasing shipments of parcels and cartons and the growing need to deliver packages in the shortest timeframe. Deployment of advanced parcel sortation systems can give logistics companies a competitive advantage in the industry. Parcel sortation systems allow logistics companies to sort and route parcels rapidly, ensuring timely deliveries and also meeting customer expectations for fast shipping.
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Asia Pacific is expected to register the highest CAGR during the forecast period.
Asia Pacific’s rapid economic growth, urbanization, and industrialization have resulted in higher adoption of automation. Increasing penetration of e-commerce and logistics companies and new airport construction projects in several countries in this region are driving the growth of the parcel sortation system industry in Asia Pacifc. Moreover, the growth of the parcel sortation system market in this region can be attributed to the tremendous growth of the e-commerce, food & beverage, and manufacturing industries in the emerging economies of China, Japan, India, and South Korea. Additionally, Governments in developing countries are taking steps to promote the growth of their countries’ communications infrastructure. Asia-Pacific is gradually becoming a manufacturing hub for many businesses because of the affordable labour and the high adoption rate of Industry 4.0.
The major companies in the parcel sortation system companies include Vanderlande (Netherlands), Beumer Group (Germany), Honeywell International (US), and Bastian Solutions (US), Fives (France). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the parcel sortation system market.
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