WASHINGTON, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Parcel Sortation Systems Market finds that growing demand for customer-friendly packaging is expediting market growth. Primarily driven by wide usage in the healthcare industry, the total global parcel sortation systems market is estimated to reach USD 3.29 Billion by 2028, up from USD 1.61 Billion in 2021, at a compound annual growth rate (CAGR) of 9.5%.
Furthermore, the surging demand in end-use industries is also anticipated to augment the growth of the global parcel sortation systems market, states Vantage Market Research, in a report titled: “Parcel Sortation Systems Market by Type (Linear Parcel Sortation Systems, Loop Parcel Sortation Systems), by Offering (Hardware, Software, Service), by End-User (Logistics, E-Commerce, Airports, Pharmaceuticals and Medical Supply), by Regions (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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- Provide chapter-wise guidance on request 2021 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.
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Market Dynamics:
Growth in E-commerce Industry to Fuel the Global Parcel Sortation Systems Market
The increasing e-commerce industry is anticipated to augment the growth of the parcel sortation systems market. This is attributable to increasing internet penetration coupled with the ease of online shopping has led to an increase in the number of products ordered online. According to The International Telecommunication Union, it was estimated that almost 4.1 billion people were using the Internet in 2019, reflecting a 5.3 per cent increase compared with 2018 and the global internet penetration rate increased from nearly 17 per cent in 2005 to over 53 per cent in 2019. Furthermore, as stated in a report by UNCTAD, the online retail sales shares increased from 16% to 19% in 2020 and the Republic of Korea reported the highest share at 25.9% in 2020, up from 20.8% the year 2019 whereas the global e-commerce sales jumped to $26.7 trillion in 2019 which is 4% more from 2018. Thus, as the ecommerce industry is increasing the parcel sortation system is also expected to increase during the forecast period.
Increasing Labour Cost and Industrial Automation to Stimulate Market Growth
The use of automation in various industries allows improving performance, by decreasing the errors and improving quality and speed, and also helps in achieving outcomes that cannot be achieved with human capabilities in businesses. Automation also contributes to productivity, as it has done historically. Furthermore, the increasing implementation of robotics and IoT in industrial automation is also anticipated to support the market growth. Internet of things is useful in creating effective, affordable, and responsive systems. Industrial IoT (IIoT) help connect industrial assets, create transparency easily, and increase the productivity of the manufacturers. This has resulted in deployment of IIoT solutions to automate the manufacturing process and offer improved customer experience by various organizations. Additionally, the use of AI and edge computing technologies is also estimated to fuel the market growth. For instance, Siemens industrial IoT solutions like Industrial Edge, Mind Sphere, and Mendix, make use of technologies like AI, cloud computing, and advanced analytics to provide insights from industrial data. This rapid implementation of IIoT solutions and analytics across industries is expected to stimulate the market growth in near future.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the manufacturing industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Parcel Sortation Systems Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Parcel Sortation Systems Market?
- How will the Parcel Sortation Systems Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Parcel Sortation Systems Market?
- What are the Parcel Sortation Systems market drivers and restrictions?
- What will be the CAGR and size of the Parcel Sortation Systems Market throughout the forecast period?
Regional Analysis:
Asia Pacific dominates the Global Parcel Sortation Systems Market.
Asia Pacific has dominated the Global Parcel Sortation Systems Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to the presence of prominent companies in logistics and e-commerce sector in the region. Additionally, the increasing demand logistics sector and food & beverages industry are also expected to support the growth of the parcel sortation systems market in near future.
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Asia Pacific is likely to witness substantial growth in the parcel sortation systems market during the forecast period. This is attributable to the increasing adoption of online shopping in emerging economies like India, and China, in the region. Furthermore, the increasing adoption of Industry 4.0 revolution and other automated technologies are also expected to support the regional growth of the market.
List of Prominent Players in the Parcel Sortation Systems Market:
- Muratec (Japan)
- ematic (US)
- BEUMER Group (Germany)
- Vanderlande (Netherlands)
- Bastian Solutions (US)
- Siemens (Germany)
- Invata Intralogisitcs (US)
- Interroll (Germany)
Recent Developments:
March, 2021: BEUMER Group and Deutsche Post DHL Group announced to sign an agreement on the use of a new and innovative sorting technology in selected parcel centers. The newly-developed medium-format sorter is specially designed for processing small and medium-sized shipments.
Dec, 2021: Siemens Logistics announced the launched of VarioPick, a new parcel handling product. The stand-alone system is designed to flexibly enhance parcel sorting centers. With the launch of VarioPick, the company presents a sophisticated robotics system that will take automation in parcel sorting centers to a new, unprecedented performance level.
This market titled “Parcel Sortation Systems Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 1.61 Billion |
| Projected Market Size in 2028 | USD 3.29 Billion |
| CAGR Growth Rate | CAGR of 9.5% from 2022-2028 |
| Base Year | 2021 |
| Historic Years | 2016 – 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Type:- Linear Parcel Sortation Systems, Loop Parcel Sortation Systems, Offering:- Hardware, Software, Service End-User:- Logistics, E-Commerce, Airports Regions:- North America, Europe, Asia Pacific |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Browse market data Tables and Figures spread through Pages and in-depth TOC on "Parcel Sortation Systems Market by Type (Linear Parcel Sortation Systems, Loop Parcel Sortation Systems), by Offering (Hardware, Software, Service), by End-User (Logistics, E-Commerce, Airports, Pharmaceuticals and Medical Supply), by Regions (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Table of Content here – https://www.vantagemarketresearch.com/press-release/parcel-sortation-systems-market-767424
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