The parcel sortation system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Parcel Sortation System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The parcel sortation system market size has grown strongly in recent years. It will grow from $1.78 billion in 2023 to $1.94 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to growth in omnichannel retailing, growth in cross-border e-commerce, growth in subscription box services, increased awareness of green logistics, and increased focus on reducing delivery errors.
The parcel sortation system market size is expected to see strong growth in the next few years. It will grow to $2.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to increasing e-commerce volume, rising demand for automation, rising urbanization, increasing investments in logistics infrastructure, and growing demand for same-day delivery. Major trends in the forecast period include technological advancements, AI integration, adoption of IoT, utilization of big data, and adoption of cloud-based sortation solutions.
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Scope Of Parcel Sortation System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Parcel Sortation System Market Overview
Market Drivers –
The growing e-commerce industry is expected to propel the growth of the parcel sortation system market going forward. The e-commerce industry refers to the sector that involves buying and selling goods and services over the Internet. The e-commerce industry is increasing due to several factors, such as convenience, a diverse product offering, competitive pricing, ease of comparison, and personalized purchasing experiences. Parcel sortation systems in e-commerce automate and optimize the sorting and distribution of packages, ensuring efficient management of the high volume of parcels from online sales. For instance, according to the United States Census Bureau, a US-based government agency, in the first quarter of 2024, US retail e-commerce sales hit $289.2 billion, up 2.1 percent (±0.7%) from the fourth quarter in 2023. Therefore, the growing e-commerce industry is driving the growth of the parcel sortation system market.
Market Trends –
Major companies operating in the parcel sortation system market are developing robot-based parcel sorting systems and AI-driven vision systems for enhanced accuracy and efficiency. Robot-based parcel sorting systems are advanced automated systems that utilize robots to sort and handle parcels in logistics and distribution centers. These systems leverage robotic technology to enhance the sorting process’s efficiency, accuracy, and speed. For instance, in January 2024, Viettel Post, a Vietnam-based provider of express delivery services, launched 160 LiBiao ‘Mini Yellow’ autonomous guided robots in Vietnam. It is installed in the storage and distribution hub, resulting in wholly automated package sortation technology. The robots employed by VTPost are equipped with AI-driven algorithms capable of autonomously identifying, categorizing, and sorting parcels based on size, weight, and destination. This automation reduces sorting errors and enhances processing speeds, optimizing overall logistics efficiency. This system includes real-time tracking and monitoring capabilities, allowing stakeholders to monitor parcel movement and status at every stage of the sorting process.
The parcel sortation system market covered in this report is segmented –
1) By Type: Linear Parcel Sortation Systems, Loop Parcel Sortation System, Other Types
2) By Offering: Hardware, Software, Services
3) By Application: Logistics, E-commerce, Airports, Pharmaceuticals and Medical Supply, Food And Beverage, Other Applications
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Regional Insights –
North America was the largest region in the parcel sortation system market in 2023. The regions covered in the parcel sortation system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the parcel sortation system market are Honeywell International Inc., Kawasaki Heavy Industries, FANUC America Corporation, Daifuku Co. Ltd., Yaskawa America, Vanderlande, Pitney Bowes Inc., Dematic, Körber AG, Fives, BEUMER Group, TGW Logistics, Interroll Group, Daifuku, Bastian Solutions, Murata Machinery Ltd., Siemens Logistics GmbH, Viastore Systems, National Presort Inc., Böwe Systec, Muratec America, Mantissa Corporation, Okura Yusaki Co. Ltd.
Table of Contents
1. Executive Summary
2. Parcel Sortation System Market Report Structure
3. Parcel Sortation System Market Trends And Strategies
4. Parcel Sortation System Market – Macro Economic Scenario
5. Parcel Sortation System Market Size And Growth
…..
27. Parcel Sortation System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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