The Parcel Sortation System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Parcel Sortation System Global Market Report 2024, 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.
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.
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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
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 report table of contents includes:
1. Executive Summary
- Parcel Sortation System Market Characteristics
- Parcel Sortation System Market Trends And Strategies
- Parcel Sortation System Market – Macro Economic Scenario
- Global Parcel Sortation System Market Size and Growth
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32. Global Parcel Sortation System Market Competitive Benchmarking
- Global Parcel Sortation System Market Competitive Dashboard
- Key Mergers And Acquisitions In The Parcel Sortation System Market
- Parcel Sortation System Market Future Outlook and Potential Analysis
- Appendix
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