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$1 Billion Postal Automation System Market by Component, Technology, Application & Region - Global Forecast to 2023DUBLIN, May 22, 2018 /PRNewswire/ -- The "Postal Automation System Market by Component (Hardware, Software, and Services), Technology (Culler Facer Canceller, Letter Sorter, Flat Sorter, Parcel Sorter), Application (Government & Courier, Express & Parcel) & Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering. The postal automation system market is expected to grow from USD 753.3 Million in 2018 to USD 1,022.2 Million by 2023, at a CAGR of 6.30% between 2018 and 2023. Factors that are driving the growth of the market include growth in e-commerce industry, increasing need for automated sorting and delivery processes in the postal industry, and rising labor costs. However, the declining volume of traditional mails, along with high initial investments and maintenance costs, is hindering the growth of the market. Evolution of traditional postal operations into smart, connected, and more efficient automated postal operations through the integration of Industry 4.0 practices provides growth opportunities for vendors in the postal automation system market. The postal automation system market has been segmented on the basis of component, application, technology, and region. The postal automation system market, on the basis of component, has been segmented into hardware, software, and services. The market for services is expected to grow at the highest rate between 2018 and 2023. The leading position of hardware, in terms of market size, can be attributed to new system installations for capacity expansion and upgrades in sensors, processors, scanners, and recognition systems. However, these hardware systems require regular maintenance, along with hardware and software upgrades. High-value contracts are signed between automation equipment manufacturers and postal operators for after-sales services. Owing to this, the postal automation system market for services is expected to grow at the highest rate during the forecast period. By application, the market has been classified into government postal and courier, express, & parcel. Government postal applications are expected to hold a larger size of the market during the forecast period. However, the market for courier, express, & parcel (CEP) applications is expected to grow at a higher rate during the forecast period. . Increasing volumes of parcels and packages to be shipped and sorted by CEP companies, along with the rising expectation of customers for faster delivery, are some of the major factors contributing to the growth of the postal automation system market for CEP applicatons. Parcel sorters held the largest size of the postal automation system market in 2017. Sortation systems play a vital role in improving the efficiency of postal operations. Sortation systems, such as flat sorters and parcel sorters, are widely used by postal companies. However, rising parcel volumes had put postal operators under pressure for faster delivery of parcels. Postal operators are also adopting innovative automation technologies to sustain in the challenging business environments. Moreover, a decline in traditional mail volumes has put postal operators under pressure to upgrade their infrastructure for increasing parcel mail volumes. Parcel sorters, therefore, play a vital role in parcel delivery operations, and it is expected that their importance will grow in the coming years. Key Topics Covered: 1 Introduction 2 Research Methodology For more information about this report visit https://www.researchandmarkets.com/research/ng9b93/1_billion_postal?w=5 Media Contact: Research and Markets
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