The Parcel Sortation Systems Market was valued at USD 1.21 billion in 2017 and is projected to reach USD 2.05 billion by 2023, growing at a CAGR of 9.3%.
The rise in labour expenses, increased industrial automation, and expansion of e-commerce are driving the Parcel Sortation Systems Market. The Parcel Sortation Systems Market is seeing rapid growth due to factors including the expansion of parcel sorting systems' applications and the incorporation of Industry 4.0 and IoT.
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Between 2018 and 2023, the Parcel Sortation Systems Market is anticipated to be dominated by hardware.
In 2017, hardware accounted for the greatest portion of all products sold in the Parcel Sortation Systems Market. The advancements in sensor, processor, and diverter technology, which led to an increase in the capability of parcel sortation systems in terms of volume and parcel qualities, are responsible for hardware's dominant position in terms of market size. Processors, cameras, sensors, diverters, electrical and mechanical components, and displays are further categories for hardware.
Between 2018 and 2023, the Parcel Sortation Systems Market is anticipated to be dominated by logistics.
In 2017, the logistics sector held the biggest market share for parcel sortation systems across all end-user sectors. The market share dominance of logistics can be ascribed to the rise in parcel and carton shipments as well as the rising demand for expedited parcel delivery.
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During the projected period, the market for loop parcel sortation systems is anticipated to grow more rapidly.
The market for loop parcel sortation systems is anticipated to experience the highest CAGR among the two types of parcel sortation systems between 2018 and 2023. The advantages afforded by these systems in terms of maximum space usage, which makes them perfect for small and midsized warehouses and distribution centres, can be linked to the expansion of the market for loop parcel sortation systems.
Europe is anticipated to hold the greatest market share for parcel sortation systems.
In 2017, Europe held the greatest market share for parcel sortation systems globally. The dominance of Europe in the parcel sortation systems market can be attributed to the presence of significant logistics, e-commerce, and solution suppliers in this area.
Key Players
Dematic (US), Muratec (Japan), Vanderlande (Netherlands), BEUMER Group (Germany), Intelligrated (US), Fives (France), Bastian Solutions (US), Siemens (Germany), Interroll (Germany), and Invata Intralogistics (US).
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