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04 Sep, 2023, 14:30 ET
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DUBLIN, Sept. 4, 2023 /PRNewswire/ — The “Parcel Sortation System Market by Type (Activated Roller Belt Sorters, Pop Up Sorters, Shoe Sorters, Cross Belt Sorters, Tilt Tray Sorters), Offering (Hardware, Software, Services), Application (Logistics, E-commerce) – Global Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The parcel sortation system market is on track to achieve significant growth, with an estimated value of USD 2.0 billion in 2023, projected to reach USD 2.8 billion by 2028. This impressive growth trajectory is underpinned by a robust compound annual growth rate (CAGR) of 7.0% throughout the forecast period.
The market analysis delves into a comprehensive segmentation based on offering, type, application, and region, providing valuable insights into the driving forces, constraints, opportunities, and challenges that shape the market’s evolution. This holistic report strikes a balance between qualitative and quantitative aspects, enriching its analytical depth.
The surging demand for swifter parcel delivery is a pivotal growth catalyst for the parcel sortation system market. These systems are designed to accommodate higher throughput capacity, yielding substantial cost benefits. Additionally, they enhance safety and security in parcel sorting operations.
In North America, the market expansion can be attributed to the region’s robust presence of prominent logistics and e-commerce enterprises. Technological advancement and widespread internet penetration amplify this growth, while a well-established third-party logistics (3PL) network bolsters the warehousing sector.
Furthermore, the revitalization of existing airports in the region has precipitated the augmentation and expansion of baggage handling systems, significantly contributing to the parcel sortation system market’s expansion.
Key players in this market landscape include prominent entities like Vanderlande from the Netherlands, Beumer Group from Germany, Honeywell International from the US, Bastian Solutions from the US, and Fives from France. This competitive landscape underscores the industry’s dynamism and the strategic initiatives adopted by major players to maintain their competitive edge.
Cross Belt Sorters to hold largest market share of Loop parcel sortation system market in 2022.
Some of the key technologies used in cross belt sortation includes automated diverters & sorters, scanning & identification systems, control software & algorithms, integration with WMS, artificial intelligence (AI), machine learning (ML), data analytics & reporting, conveyor belt control & tracking, automated dimensions & weighing.
Cross belt sorters are ideal for e-commerce, retail, warehouses and distribution centers with challenging layouts and limited space. Moreover, sortation destinations through horizontal cross belt sorters can be oriented in several ways enabling users to both better utilize space and achieve optimal sortation system performance.
E-commerce application is to grow with the highest CAGR during the forecast period
The increasing popularity of online retail and e-commerce companies has resulted in the need for these companies to process orders in the form of millions of parcels per day, which ultimately poses a major challenge for the companies. Parcel sortation systems are highly scalable and flexible, making them well-suited for the dynamic nature of the e-commerce industry.
Moreover, Systems for sorting packages automate and streamline the procedure, minimizing errors and the need for manual labor. Businesses may significantly reduce labor, transportation, and total logistics costs by optimizing sorting and routing activities.
Highlighted Points from the Parcel Sortation System Market Analysis:
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Value Chain Analysis
Case Study Analysis
Technology Analysis
Trends Impacting Parcel Sortation System Market
Company Profiles
Key Players
Other Players
For more information about this report visit https://www.researchandmarkets.com/r/kst9ao
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SOURCE Research and Markets
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