Press release
At CAGR of 9.1%, Parcel Sortation Systems Market is expected to grow from US$ 1.32 Bn in 2018 to US$ 3.09 Bn by 2027
The market study on "Parcel Sortation Systems Market to 2027 by Type (Linear Parcel Sortation System and Loop Parcel Sortation System) and End User (Logistics, E-Commerce, Food & Beverage, Post & Parcel, Airport, Pharmaceutical, and Others) - Global Analysis and Forecast", the Parcel Sortation Systems market is estimated to reach US$ 3.09 Bn by 2027 from US$ 1.32 Bn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.Get Exclusive Sample Pages of Parcel Sortation Systems Market with Latest Research at https://bit.ly/3MwRtRy
The parcel sortation system industry has changed considerably over the past few years with technological development. Automation technology has positively impacted every end-user industry and the adoption of different automated technologies is consistently growing in both developed and developing regions. The manufacturing industry is one of the early adopters of automated technologies, which is majorly attributed to the increasing labor cost and aging population. The demand for parcel sortation systems among the end-user industries is consistently growing attributed to the fact that the manufacturing industries are rapidly increasing their production in order to meet the surging customer demands. A parcel sortation system is an integral part of any warehousing and distribution center which reduces the manual tasks of shipping and checking orders in a fulfillment operation. The ecosystem for Parcel Sortation System, involves the component providers, system integrators, consultants, and end-user of these systems.
An increase in the production volume of consumer goods is boosting the market for parcel sortation systems. Also, significant growth in the E-commerce sector is also boosting the growth of the global market. However, technological complexities associated with the use of parcel sortation systems may restrain the market growth during the forecast period. Further, growing demand in the warehouse management system and an overall reduction in the cost of parcel sortation systems are expected to deliver ample growth opportunities to the industry players in the near future.
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Market initiatives by the players are propelling parcel sortation systems market growth
The global parcel sortation systems market is heavily captured by several established companies as well as smaller tier2 companies across the globe. These companies are facilitating the parcel sortation end-users such as logistics companies, manufacturing companies as well as warehouses and distribution centers among others, to meet the constantly increasing demand for timely delivery of their parcels. Also with an objective to sort the manufactured products efficiently and accurately, several manufacturing companies are also partnering with parcel sortation solution providers to integrate their sortation facility with advanced sortation technologies. Pertaining to these factors, the growth trajectory of the parcel sortation systems market is consistently witnessing an upsurge.
Parcel Sortation Systems Market: Competitive Landscape and Key Developments
The key companies operating in the field of parcel sortation systems that are profiled in the report include Bastian Solutions Inc., Daifuku Co. Ltd., Dematic, Honeywell Intelligrated, Murata Machinery, Ltd., Interroll Holding GmBH, Invata Intralogistics, Beumer Group, Viastore Systems Inc., and Vanderlande Industries B.V. among others. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.
Order a Copy of Parcel Sortation Systems Market Size, Share, Strategic Insights, and Forecasts 2021-2028 Research Report at https://bit.ly/3pKeOFJ
Newmarket initiatives were observed as the most adopted strategy in the global parcel sortation systems industry. A few of the recent market initiatives are listed below:
2019:BEUMER Group signed a $33 million agreement with Aruba Airport Authority N.V. Through the agreement, the company would offer design and installation of high-speed baggage transportation and sortation system at Aruba's Queen Beatrix International Airport.
2019:Vanderlande launched new Manufacturing and Distribution Center in Georgia (GA), USA, through the new facility customers in Los Angeles, Chicago O'Hare, Vancouver, and Atlanta will be served with the products.
2018:Bastian Solutions opened its newest office in Tampa, Florida. The expansion has helped by bringing local support to serve existing Bastian Solutions clients as well as the opportunity to assist new customers with their automation needs.
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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.
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