Smart Locker Industry Projected to reach $3.6 billion by 2028

DELRAY BEACH, Fla. - Oct. 7, 2024 - PRLog -- The global smart locker market was valued at USD 2.1 billion in 2023 and is estimated to reach USD 3.6 billion by 2028, registering a CAGR of 11.6 % during the forecast period. The demand for smart lockers stems from the changing requirements of contemporary lifestyles, influenced by factors such as the rise in e-commerce, the necessity for contactless solutions during the pandemic, challenges in last-mile delivery within urban settings, and the integration of technologies like IoT and RFID. Additionally, there is a heightened focus on sustainable and secure parcel management practices. These lockers address the need for convenience, efficiency, and security in both the delivery and storage of packages, effectively adapting to the evolving dynamics of consumer behavior and the technological landscape.

Based on deployment, the indoor segment is expected to grow at the significant CAGR in the smart locker market from 2023 to 2028. Indoor lockers offer users ease of access within indoor settings, which is especially important in corporate environments, gyms, and libraries. Additionally, the controlled indoor environment allows for temperature and humidity regulation, making indoor lockers ideal for storing items that require specific climate conditions. Lastly, the aesthetic integration of indoor lockers into interior design enhances their appeal, making them a preferred choice in settings where aesthetics matter, such as upscale offices and retail stores. Overall, the demand for indoor locker deployment continues to grow, fueled by the need for enhanced security, convenience, and climate control in a variety of applications.

Based on application, parcel lockers segment is projected to account for a significant market share in 2028. Smart parcel lockers are extensively used for e-commerce deliveries. In corporate settings, smart parcel lockers streamline the delivery of business-related items, documents, and employee packages. These lockers enhance security and provide a centralized location for staff to collect their deliveries. Owing to the growing applications of parcel lockers spanning across e-commerce, retail, corporate, residential, educational, healthcare, and hospitality sectors, smart parcel lockers segment is expected to witness heavy growth during the forecast period.

Based on region, North America held the largest share of the smart locker market. The demand for smart lockers in North America is driven by a confluence of factors shaping the region's dynamic business environment. The surge in e-commerce activities, exemplified by companies like Amazon and Walmart, has necessitated secure and efficient parcel delivery solutions.

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