Key Market Overview:
Smart Parcel Locker Market is estimated to reach over USD 2157 Million by 2030 from a value of USD 818.37 Million in 2022, growing at a CAGR of 12.2% from 2023 to 2030.
A Smart Parcel Locker is an electronic locker system equipped with modern technologies. Smart parcel locker allows users to send, receive, and store packages and other items safely. Smart parcel lockers use a network of lockers equipped with card readers, barcode scanners, cameras, and software for tracking and managing package deliveries. Users are notified when their package is delivered. Further, users can retrieve parcels using a unique security code or access card. Smart Parcel Lockers are commonly used in apartment buildings, office buildings, universities, and other public spaces to provide a convenient and secure way to manage package deliveries.
Smart Parcel Locker Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Million)||USD 2157 Million|
|CAGR (2022-2030)||12.2 %|
|By Component||Hardware, Software, and Services|
|By Type||Modular Parcel Locker, Temperature-controlled locker, Postal Lockers, and Laundry Lockers|
|By Authentication Technology||RFID, Bio Metric, Pin Code, Card Key, and Smartphone-Based|
|By End User||Residential, Commercial, Industrial, and Educational Institutes|
|By Geography||Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] |
Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey]
North America [United States, Canada, Mexico]
Middle East & Africa [GCC, North Africa, South Africa]
South America [Brazil, Argentina, Columbia, Chile, Peru]
|Key Players||Smiota, Smartbox Ecommerce Solutions Private Ltd., Parcel Pending LLC., Cleveron, Luxer One, TZ Limited, Quadient, Kern, Bybox, Keba, Winnsen Industry Co., Ltd.|
The rising number of apartment buildings due to urbanization is one of the drivers for smart parcel lockers market. With the increasing number of accommodations in high-rise apartments and flats, traditional package delivery methods such as leaving packages at the doorstep are no longer feasible or secure. Smart parcel lockers provide a secure and convenient delivery option in high-rise apartment buildings. Additionally, the rise of e-commerce is positively impacting the demand for smart parcel lockers. For instance, according to Morgan Stanly e-commerce accounted for 23 % of total retail sales in the year 2021. The number of parcels delivers has drastically increased in recent years with the rise of online delivery platforms and e-commerce. Rising parcel deliveries is fueling the demand for smart parcel lockers as they offer high security and convenience.
Security concerns associated with smart parcel lockers is one of the major restraining factors. Apart from physical attacks smart parcel lockers are also exposed to hacking attempts. Hackers can intercept communication between the locker and the server, potentially gaining unauthorized access to data or control of the locker. Moreover, Smart parcel lockers are highly vulnerable to malware-attacks that could result into security threat to the lockers software and data. For instance, in December 2020 hackers used a cyber-attack to force-open the doors of 2,732 package delivery lockers across the city of Moscow has raised an alarm regarding the credibility of smart parcels.
Integration into smart homes is one of the major opportunities for smart parcel locker market. Smart homes are residences equipped with multiple advanced technologies that enable homeowners to automate and remotely control critical household functions, such as security and monitoring. Smart parcel lockers demand is anticipated to rise in coming years owing to their integration into smart houses as they offer better security and remote monitoring for parcels. For instance, according to international data corporation (IDC) the number of home security devices is projected to touch 306 million shipments units by the year 2027 from 184 million shipments units in year 2021. Rising demand for security devices in smart homes is anticipated to propel the demand for smart locker in forthcoming years.
Smart Parcel Locker Market Segmentation:
On the basis of component the smart parcel locker market is divided into hardware, software, and services. The hardware segment accounted for the largest market share by revenue in 2022. Businesses are integrating smart lockers into offices as they offer higher degree of continence and security. Moreover, applications in residential segment are also on the rise owing to higher demand from residents as the dependence on e-commerce increases.
Moreover, the software segment is estimated to showcase highest CAGR over the forecasted period. Complexity level of modern lockers is rising due to integration of multiple functions into smart lockers. For instance, Smiota (one of the leading smart parcel lockers manufactures) offers smart lockers with functions such as programmable UV protection and analytics reports. Rising complexity of functions including real time communication, temperature control, and real time monitoring are fueling the demand for software.
According to types smart parcel lockers are categorized into modular parcel locker, temperature-controlled locker, postal lockers, and laundry lockers. The modular segment accounted for largest market share. Modular type smart lockers are mostly preferred as they offer better space utilization. Parcel lockers are highly customizable that can be easily arranged into suitable forms to fit into available space and meet user\'s requirements. For instance, KePOL LS-01 a product offered by KEBA could be expended up to 39 modules with holding capacity of 600 boxes by adding modules.
Furthermore, temperature-controlled locker segment is estimated to showcase substantial market growth over the forecasted period. With growing popularity of meal delivery service (MDS) rising number of people are ordering food online. Temperature-controlled locker offers convenience to the users. As users can remotely control the lockers temperature to keep food warm, cold or hot.
For instance, smiota(smart parcel locker manufacture) offers smart lockers with Adjustable Temperature in following ranges 34ºF -43ºF, 7.6ºF – 1.5ºF, 41ºF – 77ºF,and 104ºF – 131ºF. KePOL CL offered by KEBA is another famous temperature controlled smart lockers series.
By Authentication Technology:
On the basis of authentication technology smart parcel lockers are categorized into RFID, bio metric, pin code, card key, and smartphone based. In the year 2022 the pin code authentication technology accounted for majority market share. Pin code authentication offers enhanced security and is simple to use.
Moreover, the smartphone based authentication segment is expected to showcase significant growth over the forecasted period. Rising number of smart locker manufacturers are developing smartphone based apps for authentication functions. Authentication by smartphone is quick and convenient. Technologies such as access through mobile OTP (One Time Password) are estimated to propel the growth of smartphone authentication segment.
By End User:
According to end user smart parcel locker market is divided into residential, commercial, industrial, and educational institutes. Presently the commercial segment accounts for largest market share. A large number of corporates have integrated smart lockers at their offices. Growing e-commerce has given rise to new security challenges. Smart parcel lockers allow parcel deliveries to be stored at a secure location instead of delivery people having free access to office tower floors. Additionally, functions such as receiving contactless delivers, instant notifications and monitoring features are fueling the demand for smart parcel lockers in commercial segment.
Furthermore, the residential segment is estimated to showcase fastest growth over the forecasted period. With growing online delivers the risk of parcel theft is also rising. For instance, according to security.org (U.S.) 49 million American consumers reported they experienced parcel theft in 2022 and 54% of the total e-commerce users in U.S. agreed about experiencing parcel theft in the past. Rising security concerns about parcel theft will likely propel the demand for smart parcel lockers in forthcoming years.
The regional segment comprises of Europe, Asia Pacific, North America, the Middle East & Africa and Latin America. North America accounted for majority market share in 2022. According to study by insider intelligence (U.S.) 218.2 million U.S. citizen used ecommerce for shopping. Large ecommerce market and parcel delivery ecosystem in U.S. is the main reason for high demand for smart parcel lockers in North America region. Moreover, developed corporate structures in North America post augmented demand for smart parcel lockers.
Moreover, the Asia Pacific region is estimated to showcase substantial growth over the forecasted period. High rate of urbanization in countries including India, China and Indonesia are resulting into large scale construction of apartment building. Applications of smart lockers in high rise buildings is estimated to be one of the major drivers for smart parcel lockers in Asia Pacific region. Additionally, development of smart cities is likely to fuel the demand.
Smart Parcel Locker Market Competitive Landscape:
The report on Smart Parcel Locker Market presents a comprehensive analysis of macroeconomic factors such as market dynamics, SWOT analysis, segmental analysis and others. In terms of market players, the data is related to business collaborations, mergers and acquisitions, product innovations, and strategies adopted by competitors. These factors are studied to offer an insightful understanding of current market circumstances. Following are the major market players that comprise the latest market concentration–
• METRA Australia
• Smartbox Ecommerce Solutions Private Ltd.
• Parcel Pending LLC.
• Luxer One
• TZ Limited
• Winnsen Industry Co., Ltd.
• In February 2023 DHL and Cainiao merged their respective parcel locker networks in Poland, with plans to invest in expanding the network.