Parcel Sortation System global market 2024 to reach $2.77 billion by 2028 at a rate of 9.3%

The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 9, 2024 /EINPresswire.com/ -- The parcel sortation system market has experienced robust growth in recent years, expanding from $1.78 billion in 2023 to $1.94 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to growth in omnichannel retailing, growth in cross-border e-commerce, growth in subscription box services, increased awareness of green logistics, and increased focus on reducing delivery errors.

What Is The Estimated Market Size Of The Global Parcel Sortation System Market And Its Annual Growth Rate?
The parcel sortation system market is projected to continue its strong growth, reaching $2.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to increasing e-commerce volume, rising demand for automation, rising urbanization, increasing investments in logistics infrastructure, and growing demand for same-day delivery.

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Growth Driver Of The Parcel Sortation System Market
The growing e-commerce industry is expected to propel the growth of the parcel sortation system market going forward. The e-commerce industry refers to the sector that involves buying and selling goods and services over the Internet. The e-commerce industry is increasing due to several factors, such as convenience, a diverse product offering, competitive pricing, ease of comparison, and personalized purchasing experiences. Parcel sortation systems in e-commerce automate and optimize the sorting and distribution of packages, ensuring efficient management of the high volume of parcels from online sales.

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Who Are The Key Players Shaping The Parcel Sortation System Market Trends?
Key players in the parcel sortation system market include Honeywell International Inc., Kawasaki Heavy Industries, FANUC America Corporation, Daifuku Co. Ltd., Yaskawa America, Vanderlande.

What Are The Dominant Trends In Parcel Sortation System Market Growth?
Major companies operating in the parcel sortation system market are developing robot-based parcel sorting systems and AI-driven vision systems for enhanced accuracy and efficiency. Robot-based parcel sorting systems are advanced automated systems that utilize robots to sort and handle parcels in logistics and distribution centers. These systems leverage robotic technology to enhance the sorting process's efficiency, accuracy, and speed.

How Is The Global Parcel Sortation System Market Segmented?
1) By Type: Linear Parcel Sortation Systems, Loop Parcel Sortation System, Other Types
2) By Offering: Hardware, Software, Services
3) By Application: Logistics, E-commerce, Airports, Pharmaceuticals and Medical Supply, Food And Beverage, Other Applications

Geographical Insights: North America Leading The Parcel Sortation System Market
North America was the largest region in the parcel sortation system market in 2023. The regions covered in the parcel sortation system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Parcel Sortation System Market Definition
A parcel sortation system is an automated process that sorts and routes packages based on various criteria, such as destination, size, weight, or carrier. It typically involves the use of conveyor belts, diverters, and specialized sorting equipment to efficiently move and separate parcels into the appropriate shipping lanes or destinations.

Parcel Sortation System Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global parcel sortation system market report covering trends, opportunities, strategies, and more
The Parcel Sortation System Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on parcel sortation system market size, parcel sortation system market drivers and trends, parcel sortation system market major players, parcel sortation system competitors' revenues, parcel sortation system market positioning, and parcel sortation system market growth across geographies. The parcel sortation system market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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