Parcel Sortation Systems Market by Type (Linear, Narrow Belt Sorters, Shoe Sorters, Small Parcel Sorters, and Loop, Cross-Belt Sorters Tilt Tray Sorters), Offering (Hardware, Software, and Services), End User Industry, and Geography - Global Forecast to 2

Parcel Sortation Systems Market by Type (Linear, Narrow Belt Sorters, Shoe Sorters, Small Parcel Sorters, and Loop, Cross-Belt Sorters Tilt Tray Sorters), Offering (Hardware, Software, and Services), End User Industry, and Geography - Global Forecast to 2023

“Parcel sortation systems market to witness significant growth between 2018 and 2023”
The parcel sortation systems market is likely to be valued at USD 1.31 billion in 2018 and is expected to reach USD 2.05 billion by 2023, at a CAGR of 9.3% between 2018 and 2023. The growth of the parcel sortation systems market is propelled by increasing labor costs, along with rising industrial automation and growth in e-commerce. Factors such as emerging application areas of parcel sorting systems and the integration of Industry 4.0 and IoT with sorting systems are providing key opportunities for the players in the parcel sortation systems market. However, high deployment and maintenance costs are restraining the growth of the market.

“Market for e-commerce industry to register the highest CAGR during the forecast period”
Among all end-user industries, the parcel sortation systems market for the e-commerce industry is expected to grow at the highest rate between 2018 and 2023. Exponential increase in the number of parcels to be sorted and delivered to customers worldwide is one of the major factors driving the growth of the parcel sortation systems market for this industry.

“Parcel sortation systems market for services to register the highest CAGR between 2018 and 2023”
Among all offerings, the parcel sortation systems market for services is expected to grow at the highest rate between 2018 and 2023. Frequent servicing requirements, in terms of hardware and software upgrades or capacity expansion, is a major factor driving the growth of the parcel sortation systems market for services.

“Market for loop parcel sortation systems to grow at a higher rate during the forecast period”
Between the 2 types of parcel sortation systems, the market for loop parcel sortation systems is expected to grow at a higher CAGR between 2018 and 2023. The growth of this market can be attributed to the benefits offered by loop parcel sortation systems in terms of optimum space utilization, which makes them ideal for small and midsized warehouses and distribution centers.

“Parcel sortation systems market in APAC to grow at the highest CAGR during the forecast period”
The parcel sortation systems market in APAC is expected to grow at the highest CAGR between 2018 and 2023. China, South Korea, and Australia are some of the prominent countries driving the growth of the parcel sortation systems market in APAC. Increasing penetration of e-commerce and logistics companies and new airport construction projects in several countries in this region are driving the growth of the parcel sortation systems market in APAC.

Following is the breakup of the profiles of primary participants:
• By Company Type: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%
• By Designation: Directors – 50%, Vice Presidents – 25%, Managers – 20%, and Others – 5%
• By Region: North America – 40%, Europe – 35%, APAC – 15%, and RoW – 10%
Key players operating in the parcel sortation systems market include Dematic (US), Muratec (Japan), Vanderlande (Netherlands), BEUMER Group (Germany), Intelligrated (US), Fives (France), Bastian Solutions (US), Siemens (Germany), Interroll (Germany), and Invata Intralogisitcs (US).

Research Coverage:
In this research report, the parcel sortation systems market has been segmented on the basis of type, offering, end-user industry, and geography. Based on type, the parcel sortation systems market has been segmented into linear parcel sortation systems and loop parcel sortation systems. By offering, the parcel sortation systems market has been classified into hardware, software, and services. Based on end user, the parcel sortation systems market has been segmented into logistics, e-commerce, airports, pharmaceuticals and medical supply, food & beverages, and others. Based on region, the market has been classified into North America, Europe, APAC, and RoW.

Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on type, offering, end-user industry, and geography have been conducted to offer an overall view of the parcel sortation systems market.
The value chain analysis has been performed to provide an in-depth insight into the parcel sortation systems market.
The report provides a detailed overview of major drivers, restraints, opportunities, and challenges influencing the growth of the parcel sortation systems market.
The report also includes the competitive landscape, along with in-depth analysis and revenues of key players.