Rising need for ‘contact-less delivery’ options that arose during the COVID-19 pandemic is expected to boost the global automated smart locker system market. Contactless delivery solutions are implemented to restrict the spreading of the novel coronavirus. Another trend that is triggering the demand in global automated smart locker system market is the growing demand from various e-commerce platforms. During the pandemic, many countries had restricted the citizens from gathering, public spaces were closed down, and periodic lockdowns and curfews meant the shops and retail outlets were not completely functional. This created numerous opportunities for players in e-commerce, shipping, and transportation industries. This resulted in increased amount of parcels circulating around the globe, which in turn caused an increase in the demand from global automated smart locker system market.
Players and manufacturers in global automated smart locker system market are focused on providing advanced software and hardware solutions to meet the need for safe and contactless delivery solutions. Key end-use industries for the products in global automated smart locker system market include educational institutes, manufacturing, transportation, residential, e-commerce, travel and tourism, healthcare, information technology, retail, logistics, government, and hospitality.
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Increasing Adoption of Smart Home Technologies Creates Opportunities in Automated Smart Locker System Market
Increasing penetration of smart phones, rising government initiatives that bolster the smart city planning, and rising adoption of smart locker systems along with their peripheral connected networks in residential sector are some of the key drivers for the growing global automated smart locker system market. Smart home solutions and their increasing adoption is one of the major contributors for the growth of global automated smart locker system market. Automated smart locker systems can provide parcel and courier security for the recipient, even if they are not at home when the parcel is delivered. This helps logistics and shipping service providers along with local delivery service providers, as well as the customers save time instead of having to rearrange the delivery.
However, high initial cost of installing these services and lack of awareness regarding the benefits and advantages provided by these systems can restrict the growth of global automated smart locker system market in coming years. Large scale commercial offices or workspaces can afford these technologies but small scale businesses witness a low rate of adopting services or products from global automated smart locker system market. Another barrier for the market is low awareness regarding the smart locker solutions in the developing economies around the world. On the other hand, integration and adoption of advanced technologies such as radio frequency identification (RFID) readers, security cameras, and internet of things are expected to create lucrative opportunities for the market players.
Players in Automated Smart Locker System Market Focused on M&A and New Product Launches
Some of the most prominent players operating within the global automated smart locker system market are Apex Supply Chain Technologies LLC., Bradford Systems Corporation, Creone AB, ecos systems GmbH, Keytracker Ltd., LockTec GmbH, Neopost, Pitney Bowes, Signifi Solutions Inc., TZ Limited, Agile Workspace Limited, Bell and Howell, LLC, CaptureTech Corporation BV, Deister Electronic GmbH, iLockerz Limited, KIOSK Information Systems, Meridian Kiosks, Nuwco Ltd, Ricoh Company, Ltd, and Smartbox Ecommerce Solutions Pvt. Ltd.
Leading players in global automated smart locker system market such as KIOSK Information Systems, Ricoh Company, Pitney Bowes, and Meridian Kiosks are developing cost effective and superior technologies that can assist them in expanding their consumer base. Other growth strategies employed by key incumbent players in global automated smart locker system market include mergers and acquisitions, and new product launches. For example, a major player in global automated smart locker system market, Ricoh Company Ltd, acquired a UK based company known as ‘MTI Technology’ in October of 2020. The goal behind this acquisition was improving Ricoh Company’s IT services across the Europe region. In February of 2018, Hewlett-Packard Company, along with Meridian Kiosks, launched an advanced automated locker system that supports locker boxes in various sizes.
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