Tech-Driven Deliveries: Exploring the Smart Locker Market Trends

The global Smart Locker Market to grow from USD 2.1 billion in 2023 to USD 3.6 billion in 2028 at a CAGR of 11.6% during the forecast period. The expansion of the smart lockers market is driven by the rise in e-commerce, growing urbanization and population density, the need for contactless solutions, and technological advancements like IoT and RFID integration. These elements together foster the adoption of smart lockers, providing secure and effective solutions for parcel delivery, addressing last-mile challenges, and streamlining package management.

The key players operating in the smart Locker are Ricoh (Japan), Pitney Bowes, Inc (US), ASSA ABLOY (Sweden), Quadient (France), Gibraltar Industries (US), Bell and Howell, LLC (US), Cleveron (Estonia) so on. These players have adopted various growth strategies to strengthen their position in the smart locker market. The strategies include product launches, contracts, expansions, partnerships, collaborations, and acquisitions.

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Smart Locker Market

RICOH

Ricoh is one among the leading providers of integrated digital services, along with print and imaging solutions, meticulously crafted to facilitate the digital transformation of workplaces and workspaces, ultimately optimizing overall business performance. The company is engaged in five distinct segmentsout of which digital services cayer to smart lockers portfolio. Digital Service includes sales of multifunctional printers (MFPs), laser printers, digital duplicators, wide-format printers, facsimile machines, scanners, personal computers, servers, network equipment, and associated parts and supplies including smart locker services category. The company’s smart Lockers integrate advanced security standards and user-friendly management features into visually appealing units that seamlessly blend into the user environment. The company offers Asset Management and IT Inventory Management Lockers or Click & Collect Smart Pickup Lockers, as per the needs of the end user. Ricoh operates globally, extending its reach to customers across approximately 200 countries and regions.

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Pitney Bowes, Inc

Pitney Bowes Inc. is a worldwide shipping and mailing enterprise offering technology, logistics, and financial services to over 90 percent of Fortune 500 companies..Pitney Bowes Inc. offers a comprehensive smart locker solution for efficient delivery management, encompassing smart lockers, software, and services. The tailor-made lockers, designed to be modular and scalable, provide a blend of safety, security, and convenience for end-users. This solution is well-suited for a diverse range of applications, including retail, commercial offices, residential apartments, student residences, and mailrooms across various industries . The company has a national network of 55+ facilities strategically located throughout the United States to serve its clients' shipping and mailing needs. The company has a worldwide presence including North America, Europe and Asia Pacific.

QUADIENT

Quadient establishes its presence as a premier provider of smart locker solutions in commercial as well as residential markets. Quadient  provides  and  operates  an  automated  parcel locker  network  for  smart,  secure  pick-up  and  drop-off, offering  users  convenience  and  peace  of  mind  for parcels of all sizes .In 2022, Quadient penetrated the United Kingdom with a new disruptive open network offer.  Four carriers representing over 50% of the UK parcel volumes have already committed to using Quadient’s open network (out of which Evri, DPD and DHL). Since the acquisition of Parcel Pending in 2019, Quadient has experienced continued traction in this market, as well as growing customer demand in the retail industry. All these initiatives cater to growth of smart locker solutions portfolio of the company.

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ASSA ABLOY

ASSA ABLOY is one of the market leaders for smart locker products in commercial, residential and institutional end use industries. The company also offers a range of intelligent locker systems as well as smart locker access solutions through its Traka, HID Global and LUXER ONE companies. The company caters to various markets including office, education, commercial, residential as well as other end use industries. ASSA ABLOY focus on research & development remained high during the year due to the continued commitment to invest in research and development. The number of employees in research and development increased during the year and there were approximately 3,250 (2,800) positions at the year-end. ASSA ABLOY has a broad portfolio of smart locker solutions with presence in Europe, the Americas, Asia, and Oceania.

Elbit Systems Ltd

Gibraltar Industries is one among the prominent manufacturers and suppliers in the fields of renewable energy, residential solutions, agtech, and infrastructure. Notably, the company's electronic parcel lockers and parcel room systems serve multi-family communities and businesses by providing a secure storage solution for both package deliveries and receipt of other goods. These systems also facilitate retail businesses and their customers in transacting through online purchases with the convenience of in-store pickup. Additionally, the company's cluster box mail delivery products contribute to cost savings for postal services while ensuring secure storage for delivered mail and packages. As of December 31, 2022, the company effectively operated 33 facilities, including 25 manufacturing sites, one distribution center, and seven offices spread across 15 states, Canada, China, and Japan.

Apart from these companies, a few other key companies are working toward strengthening their position in the market by developing innovative technologies.

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