North America Smart Parcel Delivery Locker Market
Market Introduction
North America is the key regional market, which includes the US, Canada, and Mexico. North America is a hub of technological developments that compliances with economically robust countries. As a result, the manufacturing industry in North America pertains to evolve and remain the principal factor for driving prosperity, jobs, and innovation. With the increasing demand from customers for high-quality products and services, companies are on a constant hunt for innovations to serve their customers in the best possible way. Supply chain management is one of the important activities for companies to make available their products to the end consumers. According to a poll in 2021 by Finder, over 14% of Americans had been victims of package theft in the previous 12 months. This corresponds to almost 35.5 million Americans having their belongings stolen, with an average value of US$ 156.82. According to Finder, Americans have lost nearly US$ 5.4 billion in package theft due to porch pirates in the last 12 months. Porch pirates are robbers who steal goods left on porches in the hopes of finding valuable items. Porch pirates may mistake a larger box for higher-value goods; therefore, larger parcels are more likely to be targeted for package theft. The majority of Americans said they had their shipments stolen once or twice in the previous year. While almost 39% reported that they had only one parcel stolen, nearly 36% indicated they had at least two items stolen. While the exact reason for this is unknown, it is hoped that the victims have enhanced security measures to avoid additional parcel theft. We can observe that 11% of respondents had been victimized three or more times. Men were more likely to report having an item stolen than women, with 17% of men reporting having had a package taken versus 11% of women. Men's packages were also worth more than women's, with the average cost of a stolen box being US$ 190.47 for men and US$ 111.72 for women. When examining the results by generation, 22% of millennials indicated they had been victims of porch pirates.
In case of COVID-19, North America is highly affected specially the US. The enactment of lockdowns and travel restrictions shut down of production facilities, and shortage of employees have adversely affected the performances of the smart parcel delivery locker market in North America. The health and economic crises led to major disruptions in the smart parcel delivery locker market, impacting everything from supply chain and manufacturing to product sales. The pandemic has negatively impacted the industry’s short-term and long-term growth strategies. However, progress in vaccination programs and the reopening of businesses are anticipated to fuel the demand for autonomous parcel delivery technologies in the coming years. While the first half of 2020 led to reduced sales revenue due to the lockdown and halted operations of several industries, the second half of 2020 witnessed a massive surge in online sales. Market players are investing in smart locker technologies to boost sales and generate revenues. The growing adoption of the BOPIS concept that eliminates the need for person-to-person contact and enables social distancing and safety is likely to propel the smart parcel delivery locker market in North America in the post-COVID-19 era.
Market Overview and Dynamics
The North America smart parcel delivery locker market is expected to grow from US$ 267.89 million in 2021 to US$ 623.50 million by 2028; it is estimated to grow at a CAGR of 12.8% from 2021 to 2028. The rise of e-commerce across the region has led to a significant increase in the number of parcel volumes, which is driving the smart parcel delivery locker market. In October 2020, Pitney Bowes—a technology company and a provider of commerce solutions—reported that in 2019, the global parcel volume surpassed 100 billion for the first time, with a growth of 17.7%. The growth of the e-commerce industry and surge in parcel volume are propelling the adoption of advanced technologies to provide reliable and secure services to customers. There is rapid popularity of e-commerce lockers in highly populated localities for easy access to customers. Companies can deliver the goods to e-commerce lockers, which customers can receive using the password sent by e-commerce companies. E-commerce smart lockers can help businesses greatly reduce costs and help manufacturers and rental services benefit from the growing demand, which is anticipated to propel the market growth during the forecast period. Due to the rising demands and digitization trends, startups such as Smartbox are providing smart e-commerce lockers, which is expected to drive the North America smart parcel delivery locker market in the coming years.
Key Market Segments
In terms of type, the standard smart locker segment accounted for the largest share of the North America smart parcel delivery locker market in 2020. In terms of component, the hardware segment held a larger market share of the North America smart parcel delivery locker market in 2020. Further, the retail segment held a larger share of the North America smart parcel delivery locker market based on application in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America smart parcel delivery locker market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Cleveron, DeBourgh, KEBA, Package Nexus, Patterson Pope, Smartbox Ecommerce Solutions Private Limited, Snaile Inc., and TZ Limited among others.
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North America Smart Parcel Delivery Locker Market Segmentation
North America Smart Parcel Delivery Locker Market - By Type
North America Smart Parcel Delivery Locker Market -
By Component
North America Smart Parcel Delivery Locker Market -
By Application
North America Smart Parcel Delivery Locker Market - By Country
North America Smart Parcel Delivery Locker Market - Company Profiles
Strategic insights for the North America Smart Parcel Delivery Locker provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 267.89 Million |
| Market Size by 2028 | US$ 623.50 Million |
| Global CAGR (2021 - 2028) | 12.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Smart Parcel Delivery Locker refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America Smart Parcel Delivery Locker Market is valued at US$ 267.89 Million in 2021, it is projected to reach US$ 623.50 Million by 2028.
As per our report North America Smart Parcel Delivery Locker Market, the market size is valued at US$ 267.89 Million in 2021, projecting it to reach US$ 623.50 Million by 2028. This translates to a CAGR of approximately 12.8% during the forecast period.
The North America Smart Parcel Delivery Locker Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Smart Parcel Delivery Locker Market report:
The North America Smart Parcel Delivery Locker Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Smart Parcel Delivery Locker Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Smart Parcel Delivery Locker Market value chain can benefit from the information contained in a comprehensive market report.
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