The Future of Smart Parcel Locker: Market Analysis by RationalStat

A smart locker is an autonomous system for storing and managing online packages. Commercial-tenant apartments and buildings increasingly employ smart parcel locker systems to manage large numbers of parcels from multiple recipients. A smart parcel locker also called a smart integrated lock, is a popular and intriguing alternative to a well-traveled delivery system. Users have secure access to inventory and assets from nearby and faraway locations and are automatically notified of parcel details. They also assist retailers in lowering last-mile delivery costs and maximizing inventory in their storefronts. The leading firms in the market are concentrating on launching and developing innovative smart locker solutions.

The demand for smart parcel lockers is speculated to be driven by an increase in the acceptance of e-commerce and online shopping platforms, as well as a surge in investment for improved lockers usage by the major players. Furthermore, the global parcel locker market growth is fuelled by the rapid expansion of the e-commerce industry, population increase, online purchasing behaviors demand for efficient and low-maintenance modular lockers globally, and rising investments by leading companies.

The population in Asia Pacific is predicted to expand, as is the presence of prominent e-commerce giants such as Alibaba, JD.com, Flipkart, Amazon, and others. Due to the government’s insistence on enhanced technology adoption by post offices, India's use of parcel lockers is expected to increase. The increasing logistics, e-commerce industries, and rising rate of package delivery theft are expected to drive the growth of smart lockers in the South American region. The surge in the transportation and logistics industry development will aid the demand for smart lockers in the Middle East. The number of small businesses investing in the E-commerce industry across the European Union will bolster the growth in Europe.

Adoption of Advanced technology to elevate the demand

Buying online and in-store up in stores is becoming increasingly common among retailers. Delivery of perishable commodities such as medication, groceries, food & beverages is becoming increasingly popular, increasing market competition. The booming e-commerce business is driving parcel delivery companies to use advanced smart technology to provide more reliable and secure postal services to their customers. Furthermore, free delivery and no shipping charges contribute to the global growth of the post and parcel industry. However, rising security concerns and the influx of inexperienced players into the market may stifle market growth.

Major Sectors for the Adoption of Smart Lockers:

• E-commerce companies
• Post and Logisticians
• Retailers
• Universities and Educational Institutions
• Food Service Companies
• Libraries
• Public Enterprises and Others

Recent Developments and Expansion Strategy

Leading companies involved in the manufacturing, sales, and marketing of smart parcel lockers include KEBA, Smiota, Smartbox Ecommerce, Quadient, ParcelPort Solutions, Ricoh, Olssen, MVK Mash, Parcel Pending, SMART CUBE, Hive-Box, Arka, Instabox, etc. Some of the notable developments witnessed in the industry include,

• In September 2022, Industrial automation company Arka opened a US$ 2 million (€2 million) smart locker factory in Romania.
• In September 2022, Swedish last-mile delivery companies Budbee and Instabox merged together under a new holding company, Instabee.
• In June 2021, a commerce technology solutions provider, Pitney Bowes, launched its sophisticated Parcel Point smart Lockers solution. The pre-configured adaptable solution can be adapted to meet needs for security, safety, and convenience. Globally, Pitney Bowes parcel volumes grew to 103 billion, with growth predicted to quadruple by 2026.
• In June 2021, Your Pick-Up-Point (YPUP) created an enhanced parcel locker and pick-up service. YPUP has a completely automated collecting and drop-off solution for every workplace, industry, and market area.
• In March 2021, Quick Collect Solutions, the leading provider of automatic collection solutions and the first U.S. manufacturer, announced a new relationship and performance distribution with Florence Corporation, a smart locker firm. Florence Corporation's smart keys are now part of the industry's most comprehensive product portfolio.
• In September 2020, Snail Parcel Locker, a Canadian organization, launched a rear-load smart parcel locker system for retail and mailroom applications. The company has produced an upgraded rear load automatic smart parcel locker for the expanding demand in the retail market. Later in November, they partnered with a Montreal-based smart building SaaS technology provider to provide parcel delivery and collection notifications for multi-tenant residential buildings across Canada.
• In March 2020, for online food delivery pickers, Eroski designed improved smart lockers. A hypermarket installed the smart, secure locker. The lockers ensure food preservation, which is suited for all refrigerated, frozen, and room-temperature foods.

The adoption of advanced parcel management solutions by major e-commerce enterprises and increased implementation of smart technologies such as smart cooling lockers in the food and beverage sector to preserve and offer fresh food goods are expected to enhance the global smart parcel locker market growth in the approaching years. Several players in the global market are working on developing innovative parcel management systems, thus creating healthy competition. In addition, other companies adopting strategies such as collaborations and partnerships are likely to contribute to market growth in the next years.

To know more about the current market scenario, review our report on Global Parcel Locker Market or request a sample.