DUBLIN--(BUSINESS WIRE)--The "Parcel Sortation Systems Market by Type, Offering, End User Industry, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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.
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.
- Increasing Labor Cost and Industrial Automation
- Growth in E-Commerce
- High Deployment and Maintenance Costs
- Emerging Application Areas of Parcel Sorting Systems
- Integration of Industry 4.0 and IoT With Sorting Systems
- Real-Time Technical Challenges
- Formulation of Government Regulations Against Automation
- Value Chain Analysis
- Bastian Solutions
- Beumer Group
- Bowe Systec
- Equinox Mhe
- Falcon Autotech
- GBI Intralogistics
- Invata Intralogisitcs
- OCM SRL
- Okura Yusoki
- Pitney Bowes
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