Automated Smart Locker System Market
Automated Smart Locker System Market (Component: Hardware [System], Software, and Services [Professional Services and Managed Services]; and End User: Commercial [Information Technology, Educational Institutions, Healthcare, Manufacturing, Hospitality, Transportation & Logistics, eCommerce & Retail, Travel & Tourism, and Others], Residential, and Government) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Contactless Self-service Automated Locker Systems Grow Popular during Coronavirus Crisis
Contactless secure locker solutions are gaining increased prominence during the coronavirus pandemic. This trend is anticipated to surge with the ever-evolving eCommerce platforms, especially in the U.S. and Germany. A significant rise in eCommerce sales is signaling incremental opportunities for companies in the automated smart locker system market. Popular logistics company, DHL, witnessed a drastic growth in parcel shipments during the COVID-19 crisis compared to trends observed during the Christmas season each year.
Companies in the automated smart locker system market such as Smartbox has garnered market recognition for its self-service automated locker systems that deploy secure transfer of goods and parcels during COVID-19. Companies are increasing efforts to invest in comprehensive hardware and software solutions to keep economies running amidst the pandemic.
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Mobile Apps Disperse Regular Software Updates to Prevent Violation by IT Experts
Automated smart locker systems provide full access control to users. However, its disadvantages such as sudden blackout of the control unit or a fault of the recognition device are likely to inhibit market growth. Hence, companies in the automated smart locker system market are increasing awareness among users to regularly update their systems to prevent tampering. Since electronic devices can be violated by IT (Information Technology) experts, manufacturers in the automated smart locker system market are focusing on mobile apps to disperse regular software updates to users.
Regular software updates help to modify encryption and keep smart locks unaltered. As such, advantages such as activation through biometric readers tend to offset the disadvantages of smart lockers.
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Smart Locker Systems Facilitate Reliable Package Management in Educational Campuses
Smart and touch-free locker systems are being highly publicized in educational campuses. Companies in the automated smart locker system market are capitalizing on the opportunity to help universities to seek fast and reliable solutions to deliver packages to students and staff safely. As such, there is a growing demand for smart lockers that do not take up too much space and can optimize package management processes.
Nowadays, students expect a pick-up process that mimics their easy, convenient, and simple purchasing experience. This trend is translating into value grab opportunities for companies in the automated smart locker system market.
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Smart Access Technology Reach Locker Rooms in Hotels
Mobile and smart access technology in locker rooms is helping to optimize the hotel guest experience. SALTO Systems— a provider of innovative access control solutions is tapping revenue opportunities in the hospitality sector by driving sales of its SALTO XS4 Locker BLE, which offers storage of items and valuables safely. Activities such as spa treatments, exercise, and other amenities have triggered the demand for safe and reliable smart lockers.
The rising popularity of mobile engagement with hotel guests is creating incremental opportunities for companies in the automated smart locker system market. The smart access technology is being incorporated in locker rooms in hotels to enhance the digital experience if guests.
Innovative Dispensing Solutions Offer Growth Opportunities to Retail Sector
Apart from commercial applications, automated smart locker systems hold a significant revenue in residential applications. As such, the automated smart locker system market is projected to reach the value of US$ 1.8 Bn by the end of 2030. Modular and intelligent locker systems are gaining prominence in the retail sector. Signifi Solutions— a provider of innovative solutions to the automated retail industry is increasing its product portfolio in intelligent locker systems.
Packaged solutions involving security cameras, RFID (radio-frequency identification) readers, and Internet are being integrated with intelligent locker systems. Easy management of new and outgoing staff, and modular dispensing solutions in the retail sector are being preferred by stakeholders in the retail industry.
Contactless delivery and retrieval processes have become necessary amidst the ongoing COVID-19 pandemic, which is being achieved through automated smart locker systems. These systems are helping in minimizing human intervention for effective package management. Moreover, smart lockers have the capability to deliver real-time smart access to locker rooms and cabinets in hotels to enhance the mobile and digital engagement experience of guests. The automated smart locker system market is predicted to advance at a robust CAGR of ~10% throughout the assessment period. Since smart locks are susceptible to violation by IT professionals, companies in the automated smart locker system market should develop mobile apps to release new updates in smart locks and their software to modify encryption.
Automated Smart Locker System Market: Overview
- According to Transparency Market Research’s latest research report on the global automated smart locker system market for the historical period 2018–2019 and the forecast period 2020–2030, increasing adoption of smartphones and mobile applications to increase the efficiency of operations in smart home and commercial spaces is a key factor expected to boost the global automated smart locker system market during the forecast period
- In terms of revenue, the global automated smart locker system market was valued at ~US$ 671 Mn in 2019 and is expected to reach US$ 1.8 Bn by 2030, expanding at a CAGR of ~10% during the forecast period
Rise in Demand for Smart Homes and Smart Parcel Delivery Solutions
- Increase in the demand for smart home solutions in the residential sector is also boosting the adoption rate of advanced home solutions and security solutions. Smart home solution providers offer a customized connected system network to control and monitor home activities. Smart home owners in developed countries are adopting automated smart locker systems to receive delivery items when nobody is present at home. It helps save time of customers and delivery service providers, instead of rearranging the delivery of the items.
- Most large delivery and logistics operators are adopting the smart locker solutions to deliver parcels at a pre-decided parcel point station. The user can easily find the nearest parcel point or station and collect his parcel at a convenient time. The required authorized access codes are provided on mobile applications to ensure the delivery of the parcel to the right person.
- Thus, increasing adoption of smart locker systems and connected device networks in the residential sector and by delivery service providers is expected to fuel the demand for automated smart lockers during the forecast period
- On the other hand, high initial cost and lack of awareness about smart lockers among users is projected to have a negative impact on the global automated smart locker system market during the forecast period
- The high initial cost of implementation and integration of smart lockers at commercial spaces and residential sites is a key reason for the low rate of adoption of automated smart locker solutions. The overall initial cost includes customization and system design, integration and implementation cost, and maintenance & training cost.
- Solution providers are targeting large enterprises to provide advanced smart lockers. Small enterprises have budget constraints for investing in new technologies and new IT solutions applicable in the mailing and delivery process.
- Lack of awareness about smart locker solutions in developing countries is a major factor restraining the market. Lack of knowledge about applications and benefits of connected locker systems in commercial and residential sectors hampers the adoption rate in developing countries. Companies are adopting more budget-friendly technologies in mailing and parcel delivery solutions. Solution providers offer cost-effective solutions, which is increasing the penetration into smaller regions. Hence, this restraint has a short-term impact on the market.
Automated Smart Locker System Market: Competition Landscape
- Detailed profiles of providers of automated smart locker systems have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global automated smart locker system market include
- Agile Workspace Limited
- Apex Supply Chain Technologies LLC
- Bell and Howell, LLC.
- Bradford Systems Corporation
- CaptureTech Corporation BV.
- Creone AB
- deister electronic GmbH
- ecos systems GmbH
- iLockerz Limited
- Keytracker Ltd
- KIOSK Information Systems
- LockTec GmbH
- Meridian Kiosks
- Nuwco Ltd.
- Pitney Bowes
- Ricoh Company, Ltd.
- Signifi Solutions Inc.
- Smartbox Ecommerce Solutions Pvt. Ltd.
- TZ Limited
Automated Smart Locker System Market: Key Developments
- Key providers of automated smart locker system, such as Pitney Bowes, KIOSK Information Systems, Meridian Kiosks, and Ricoh Company, are focusing on advanced technologies and cost-effective automated smart locker system solutions to attract more customers
- Some other key developments in the global automated smart locker system market have been highlighted below:
- In October 2020, Ricoh Company, Ltd. announced the acquisition of the U.K.-based MTI Technology to improve IT services across Europe
- In August 2019, Syncsort acquired the software solution business of Pitney Bowes Inc. to combine the best location intelligence, customer information management, and engagement solutions with data integration and optimization software
- For instance, in February 2018, Meridian Kiosks and the Hewlett-Packard Company announced an advanced automated locker system with multiple locker box sizes
- In the global automated smart locker system market report, we have discussed individual strategies, followed by company profiles of providers of automated smart locker system solution
- The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global automated smart locker system market.
Automated Smart Locker System Market – Scope of the Report
A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global automated smart locker system market to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the automated smart locker system market, to identify opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the automated smart locker system market will progress during the forecast period of 2020-2030.
The report offers intricate dynamics about different aspects of the automated smart locker system market that aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on the significant changes that are highly anticipated to configure the growth of the automated smart locker system market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the automated smart locker system market, and estimate statistics related to the market progress in terms of value (US$ Mn).
The study covers a detailed segmentation of the automated smart locker system market, along with key information and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the automated smart locker system market, wherein various developments, expansions, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Automated Smart Locker System Market
The report provides detailed information about the automated smart locker system market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the automated smart locker system industry, so as to help them make successful strategies and take target-driven decisions.
- How are key market players successfully earning revenue out of the advantages of automated smart locker systems?
- What are the various trends in the global automated smart locker system market across the world and key market opportunities?
- What will be the revenue share of the global automated smart locker system market in terms of end-user?
- What will be the Y-o-Y growth of the automated smart locker system market between 2020 and 2030?
- What are the competitive strategies of key players operating in Brazil, the U.S., and the global market?
- Which component is expected to generate maximum revenue in automated smart locker systems during the forecast period?
Research Methodology – Automated Smart Locker System Market
The research methodology adopted by analysts for combining the automated smart locker system market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the automated smart locker system market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the automated smart locker system market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the automated smart locker system market.
Automated Smart Locker System Market – Segmentation
TMR’s research study assesses the automated smart locker system market on the basis of component, end user, and region. Revenue data is estimated for all the above mentioned segments.