According to the new market research report "Parcel Sortation Systems Market by Type (Linear, Narrow Belt Sorters, Shoe Sorters, Small Parcel Sorters, and Loop, Cross-Belt Sorters Tilt Tray Sorters), Offering (Hardware, Software, and Services), End User Industry, and Geography - Global Forecast to 2023", the parcel sortation systems market is expected to be valued at USD 1.31 Billion in 2018 and is likely to reach USD 2.05 Billion by 2023, at a CAGR of 9.3% between 2018 and 2023. The growth of the parcel sortation systems market is propelled by increasing labor costs, rising industrial automation, and growth in e-commerce. Factors such as emerging application areas of parcel sorting systems and integration of Industry 4.0 and IoT with sorting systems are creasing huge growth opportunities for the players in the parcel sortation systems market.
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The objective of the report is to provide a detailed analysis of the parcel sortation systems market based on type, offering, end user, and geography. The report provides detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market. It also provides a detailed overview of the value chain pertaining the parcel sortation systems market.
Among all offerings, the parcel sortation systems market for services is expected to register the highest CAGR between 2018 and 2023. Frequent servicing requirements, in terms of hardware and software upgrades or capacity expansion, is the major factor driving the growth of the parcel sortation systems market for services.
Among all end-user industry, the parcel sortation systems market for e-commerce is expected to grow at the highest CAGR between 2018 and 2023. The growth of the parcel sortation systems market for this industry can be attributed to the exponential increase in the number of parcels to be sorted and delivered to customers worldwide.
Major players in the parcel sortation systems market are Dematic (US), Muratec (Japan), Vanderlande (Netherlands), BEUMER Group (Germany), Intelligrated (US), Fives (France), Bastian Solutions (US), Siemens (Germany), Interroll (Germany), and Invata Intralogisitcs (US).
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