Parcel Sortation Systems Market Worth $ 3.2 Billion, Globally, by 2026 at 9.6% CAGR: Verified Market Research

Parcel Sortation Systems Market Worth $ 3.2 Billion, Globally, by 2026 at 9.6% CAGR: Verified Market Research

- The increasing labor costs and industrial automation along with growth in e-commerce are the primary drivers that are boosting the growth of the global parcel sortation systems market

PR Newswire

JERSEY CITY, N.J., Nov. 16, 2020

JERSEY CITY, N.J., Nov. 16, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Parcel Sortation Systems Market by Component (Hardware, Software, Service), by Type (Linear Parcel Sortation Systems, Loop Parcel Sortation Systems), by End-User Industry (Logistics, E-Commerce, Airports, Pharmaceuticals and Medical Supply, Food & Beverages), Geography". According to Verified Market Research, the Global Parcel Sortation Systems Market was valued at USD 1.3 Billion in 2018 and is projected to reach USD 3.2 Billion by 2026, growing at a CAGR of 9.6% from 2019 to 2026.

Parcel Sortation Systems Market

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Browse in-depth TOC on "Parcel Sortation Systems Market"

202 - Pages
126 – Tables
37 – Figures

Global Parcel Sortation Systems Market Overview

The expenditure of the companies is increasing due to the availability of highly skilled labor which has led to high per capita labor and demand. Thus, the companies are employing automated systems which will help in reducing the labor costs and demands and will also provide high accuracy in the process. The rising needs for automated systems in various industries are anticipated to drive the growth of the global parcel sortation systems market. The widespread adoption of IoT technology has provided a lucrative opportunity for the manufacturers in the parcel sortation systems market. The integration of IoT in parcel sortation systems offers better visibility of the location of the product. It connects various departments of sortation such as labeling, packaging, others very efficiently. Owing to all these factors the global parcel sortation systems market is flourishing.

However, some restraints are liming the growth of the global parcel sortation systems market. The cost associated with the high deployment and maintenance is expected to hamper the growth of the global parcel sortation systems market. Also, the real-time technical challenges and formulation of government regulations against automation are some of the challenges that are hindering the growth of the global parcel sortation systems market. Some of the major players such as Bastian Solutions, Fives, Intelligrated, BEUMER Group, Vanderlande, Muratec, Dematic, Siemens, Interroll, and Invata Intralogisitcs.

Verified Market Research has segmented the Global Parcel Sortation Systems Market on the basis of Type, Component, End-User Industry, And Geography.

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