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Editing: 9; Published: February 2022
Executive Pool: 14442
Companies: 60 – Players covered include Alstef Automation SA; Bastian Solutions, LLC; Beumer Group; Bowe Systec GmbH; Daifuku Co.Ltd. ; Dematic; Equinox; Falcon Autotech Private Limited; five ; GBI Intralogistics, Inc.; GreyOrange; Honeywell International Inc; Interroll Group; Intralox, LLC; Invata Intralogistics; Murata Machinery, Ltd. ; Okura Yusoki Co.Ltd. ; Pitney Bowes Inc.; Siemens Logistics GmbH; Solystic SAS; Vanderlande Industries BV; Viastore systems and others.
Blanket: All major geographies and key segments
segments: Component (Hardware, Software, Services); Type (Linear, Loop); End use (logistics, e-commerce, airports, food and beverage, other end uses)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
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ABSTRACT-
Global parcel sorting systems market to reach $1.8 billion by 2026
Parcel sorting systems, which are used to sort several consumer products including post and parcels, packaged food and beverages, textiles and medicines, among others, are seen as a boon to the mechanical industry. Sorting systems dramatically reduce the time needed to efficiently perform operations or seamlessly simulate raw materials. Parcel sorting solutions are widely used in a large number of industries, including automotive, food, healthcare, electronics, retail and pharmaceutical, among others, for sorting products from small and medium size. Technological advancements and automation are contributing to the positive growth of parcel and courier solutions markets in both developed and developing regions of the world. In particular, the significant increase in the adoption of the technology by warehouse operators, logistics partners, delivery centers and logistics companies in the countries of the region is driving the growth of the market.
Amid COVID-19 crisis, Global Parcel Sorting Systems Market estimated at US$1.4 billion in 2022, is expected to reach a revised size of US$1.8 billion by 2026, growing at a CAGR of 6.7% over the analysis period. Hardware, one of the segments analyzed in the report, is expected to grow at a CAGR of 6.3% to reach US$984.8 million at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and induced economic crisis, Software segment growth is readjusted to a revised CAGR of 6.9% for the next 7-year period. This segment currently accounts for a 33.2% share of the global parcel sorting systems market.
The US market is estimated at $322.1 million by 2022, when China is expected to reach $237.9 million by 2026
The United States Parcel Sorting Systems Market is estimated at US$322.1 million in 2022. The country currently accounts for a 23.26% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$237.9 million in 2026 with a CAGR of 8.5% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 5.3% and 5.7% respectively over the analysis period. In Europe, Germany is expected to grow around 6.3% CAGR while the rest of the European market (as defined in the study) will reach US$260.4 million at the end of the analysis period.
The market is expected to be driven by the need for automation, high labor costs and the rapid expansion of e-commerce. Asian economies with large populations and large disposable incomes are expected to support the growth of e-commerce. The same is likely to have a positive impact and drive growth in the parcel sorting systems market as well. A mature e-commerce industry continues to grow as it gains acceptance around the world. China and the United States alone accounts for more than 60% of global e-commerce. Ease of purchase and convenient delivery options have contributed to the widespread acceptance of e-commerce. Online shopping has been greatly boosted by the e-commerce revolution. The increased use of smartphones combined with an improved data network has helped boost the online shopping industry. Online retail has seen the development of supporting infrastructure such as parcel warehouses and delivery centers. The postal industry also requires higher levels of automation for parcel sorting and delivery. Even though traditional postal mailers have drastically decreased in volume, the industry also faces several challenges both operationally and in design. Additionally, emerging demand for warehouse management systems is expected to propel growth in emerging economies. Other key factors driving the growth of the market include rising demand for automated technologies and significant growth witnessed in the global e-commerce market.
Service segment to reach $309.4 million by 2026
The demand for services is expected to drive the growth of the parcel sorting systems market. Services such as software upgrades, hardware maintenance, and capacity additions are expected to generate strong revenue. In the global Services segment, United States, Canada, Japan, China and Europe will drive the CAGR of 7.1% estimated for this segment. These regional markets representing a combined market size of US$159.4 million will reach a projected size of US$257.4 million at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$26.8 million by 2026, while Latin America will increase at a CAGR of 8.4% over the analysis period. Continued
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