parcel sortation system Market

The parcel sortation system market size is expected to grow from US$ 2.34 billion in 2022 to US$ 4.07 billion by 2030; it is estimated to record a CAGR of 7.1% during 2022 to 2030.

The global manufacturing industry is expanding with a healthy pace as more and newer regions are investing to adopt manufacturing plants in their localities. The expansion in the manufacturing industry is expected to embrace technological advancements in order to enhance the plant productivity, maintain edge with the customers and gain a competitive advantage.

The expansion in the manufacturing industry is mainly driven by the economic growth worldwide. The technological revolution in the factories has been encouraging the manufacturing industries to further invest into emerging technologies to enhance their respective productivity and production cycles. Thus, the strong expansion in the manufacturing industry is likely  to drive the demand for parcel sortation systems globally.

Emerging countries in APAC region are growing at an exponential rate as a result of favorable FDI rules, government incentives, and market participants' online initiatives. For example, in India, 100% FDI in B2B e-commerce is permitted through the automatic method, providing abundant growth potential for e-commerce businesses. Asia Pacific is expected to witness substantial industrial growth, including the logistics industry, which will boost the demand for parcel sorting systems and fuels the APAC parcel sortation system market share. In addition, rapidly growing e-commerce in APAC, aided by rising consumer disposable income, leads to increased demand for luxury goods and services. This is driving the parcel sortation system market in the region. Also, the logistics industry is adopting advanced logistics solutions to deliver parcels promptly. The expanding logistics, including the distribution sector, and the rising need for sorting systems at airports are compelling owners to deploy parcel sortation systems, boosting the APAC parcel sortation system market growth.

Europe has largest parcel sortation system market share in 2022. The European region comprises of several major manufacturing industries such as aerospace, machinery & equipment, automotive, ship building, military vehicles, and others. The Automotive industry of Europe region is considered to be one of the crucial industries as it significantly contributes to the region's GDP. Europe is one of the leading producers of motor vehicles. Also, the presence of several premium automotive manufacturers in Europe is another major factor driving the growth of parcel sortation systems across the manufacturing facilities. Vehicle manufacturing industry is a strategic industry, which produces around 19.2 million cars, vans, buses and trucks per year. Further, more than 300 vehicle assembly and manufacturing facilities are located across 26 countries in the European region. Thus, a strong manufacturing industry contributes to the demand for collaborative robots and fuels the parcel sortation system market growth.

Further, a project named as 'VALERI', "Validation of Advanced, Collaborative Robots for Industrial Applications" that is coordinated by the Fraunhofer Institute for Factory Operation and Automation (IFF) in Germany along with industrial partners, FACC, IDPSA, Airbus DS, and KUKA Laboratories GmbH, as well as research partners PRODINTEC and Profactor GmbH; is supporting adoption of collaborative robots and fuel its market growth.  

Kuka AG, Yaskawa America Inc, Aubo (Beijing) Robotics Technology Co Ltd, Doosan Robotics Inc, Fanuc Corp, ABB Ltd, Rethink Robotics GmbH, Universal Robots AS, Techman Robot Inc, and Kawasaki Heavy Industries Ltd are among the key parcel sortation system market players profiled in this market study. Several other essential parcel sortation system market players were analyzed to obtain a holistic view of the market and its ecosystem.

The overall parcel sortation system market size has been derived using both primary and secondary sources. To begin the parcel sortation system market research process, an exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the parcel sortation system market. The process justifies the purpose of obtaining an overview and market forecast of the parcel sortation system market growth with respect to all market segments. Also, several number of primary interviews had been scheduled with industry participants and commentators to validate the data and gain more analytical insights about the topic. The primary respondents include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as research analysts, valuation experts, and key opinion leaders—specializing in the parcel sortation system market.