The global automated parcel locker market accounted for US$335m in 2015 and is estimated to reach US$918m by 2024, according to the latest market intelligence report by Transparency Market Research, which has forecast a compound annual growth rate (CAGR) of 12% throughout the nine-year period.
In 2015, the global parcel locker market contained 17,719 units, and is projected to reach 46,063 units in 2024, rising at a CAGR of 11.4%. Europe had the largest parcel locker market in 2015 due to the prominence of e-retail businesses and established logistics ecosystems in countries such as Germany and the UK.
However a large part of the world remains untapped and the adoption of parcel locker networks is expected to grow alongside e-commerce volumes around the world. The report claims that the use of parcel delivery terminals will continue to grow as they enable posts to lower operational costs and provide more convenient parcel delivery options for customers.
The parcel locker report divides the market into two categories, outdoor terminals and indoor terminals. Indoor parcel terminals are expected to hold increased market share due to low set-up and operating costs, along with the ease of retrieving parcels even in harsh weather.
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June 15, 2016