Pune, India, Oct. 03, 2023 (GLOBE NEWSWIRE) -- The parcel sortation systems manufacturers are integrating their products with advanced technologies to gain customer attraction. However, the integration of advanced technologies and software is increasing the upfront cost of the systems. Thus, these manufacturers are focusing on developing advanced parcel sortation systems with reduced prices of the final products as well as the cost involved in their maintenance. This factor is expected to substantially increase the procurement of such technologies, which can help the warehouses, airports, dockyards, and delivery centers in developing countries to efficiently sort the parcels. Thus, the introduction of cost-effective advanced parcel sortation systems is expected to fuel the parcel sortation systems market growth.
Parcel Sortation System Market in terms of revenue was estimated to be worth $2.34 billion in 2022 and is poised to reach $4.07 billion by 2030, growing at a CAGR of 7.1% from 2022 to 2030 according to a new report published by The Insight Partners.
Government support for developing and deploying robotics and rapid expansion in the manufacturing industry is fueling the parcel sortation system market size. However, a relatively slow production rate is hindering the parcel sortation system market growth.
Download Sample PDF Brochure: https://www.theinsightpartners.com/sample/TIPEL00002503/
Global Parcel Sortation System Market Scope:
| Report Coverage | Details |
| Market Size Value in | USD 2.34 Billion in 2022 |
| Market Size Value by | USD 4.07 Billion by 2030 |
| Growth rate | CAGR of 7.1% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
| Segments covered | Type, and Application |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends |
The European market is a tremendously varied market comprising 50 countries. Western European countries are more developed than NORDIC and other Eastern European countries. As a result, the countries are witnessing more breakthroughs and advancements in automation in Western Europe. The NORDIC countries are home to many small and medium enterprises (SMEs) that do not have a major requirement for automated storage warehouses. There is a significant need for fast, highly precise deliveries across Europe, driven by online purchasing habits and business recovery in the post-pandemic period. However, consumers increasingly expect next-day or even same-day deliveries; getting a box from A (the point of order) to B (the doorstep) in less than 24 hours requires a massively sophisticated and advanced supply chain. Automation is the key to encouraging the potential of parcel sortation technology in various sectors across Europe and fueling Europe parcel sortation system market size.
Germany, Italy, and the Netherlands are prospective growth areas for automated technology deployments in various applications. For accuracy and efficiency in operations, the automotive sector in Germany, the textile and manufacturing industries in Italy and Spain, and the electronics industry in the UK have used modern parcel sortation systems. Vanderlande Industries B.V., Invata Intralogistics, Interroll Holding GmbH, and Packrobat Automation Ltd. are a few firms engaged in the Europe parcel sortation systems market. These companies regularly indulge in various product developments and new launches related to parcel sorting systems. For instance, in June 2022, Interroll Group released Split Tray Sorter. The novel gadget ensured maximum availability, a very long service life, and rapid payback times for the automatic sortation of transported objects weighing up to 12 kg. Hence, the company provided suitable solutions for logistics service providers and express, courier, and package service providers to boost the productivity of customer-oriented distribution centers by successfully segregating small parts from other transport products.
Parcel Sortation System Market: Segmental Overview
Based on type, the parcel sortation system market is segmented into: Pop-Up Sorters, Shoe Sorters, Cross Belt Sorters, Tilt Tray Sorters, Pushtray and Others. The cross belt sorters segment held the largest parcel sortation system market share in 2022, whereas the shoe sorters segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on application, the parcel sortation system market is categorized into: Logistics Industry, E-Commerce Industry, Food & Beverages Industry, Post and Parcel Services, Airports, Pharmaceutical Industry and Others. The logistics segment held the largest parcel sortation system market share in 2022, whereas the others segment is anticipated to register the highest CAGR in the market during the forecast period.
Order a Copy of the Report https://www.theinsightpartners.com/buy/TIPEL00002503/
Parcel Sortation System Market Analysis: Competitive Landscape and Key Developments
Bastian Solutions, LLC; Daifuku Co., Ltd.; Dematic; Honeywell International Inc.; Murata Machinery, Ltd; Interroll Group; BEUMER GROUP; Viastore Systems; Vanderlande Industries B.V.; and Siemens Logistics GmbH are a few of the key parcel sortation system market players. The market leaders in the international parcel sortation system market focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
Parcel Sortation System Market - Key Industry Dynamics:
Drivers:
- Rising Production Volume of Consumer Goods and Increasing Adoption of Automated Technologies
- Significant Rise in E-Commerce Business
- Growing Demand for High-performance Hardware Units
Restraints:
- Technological and Technical Complexities
- High Installation and Maintenance Cost of Parcel Sorting Systems
Opportunities:
- Integration of AI, Industry 4.0, and IoT with Parcel Sorting System
- Rise in Demand for Warehouse Management Systems
Future Trends:
- Introduction of Cost-effective Advanced Parcel Sortation System
Recent Developments:
In February 2022, Siemens Logistics was awarded a new contract by GLS Spain, one of the leading parcel companies in the country. The order included the design, integration, and commissioning of parcel sorting technology for GLS’ new logistics center in Madrid. Siemens Logistics will integrate several high-efficiency Visicon singulators, a 2-km conveyor belt, a linear sorter system, and state-of-the-art software.
In May 2021, Deutsche Post contracted Siemens Logistics for the delivery, integration, and commissioning of parcel sorting technology for its international postal center (IPC) in Niederaula, Germany. The contract included a high-performance cross-belt sorter for small parcels with several high-speed inductions, conveyor technology, as well as intelligent control, reading, and coding software.
In May 2021, Beumer Group introduced a new type of small- and medium-sized parcel sortation system. Installed for the first time in Germany during the peak Black Friday week and Christmas season, the system enabled more efficient sorting of the growing number of small and medium-sized e-commerce parcels handled by operators such as DHL.
Go through further research published by The Insight Partners:
Packet and Parcel Sorting System Market - Global Analysis and Forecast to 2030
Smart Sorting System Market - Global Analysis and Forecast to 2030
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/parcel-sortation-systems-market
