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Global Parcel Sortation Systems Market Report 2022: Market to Reach $1.8 Billion by 2026 - Parcel Supply Chain Trends Favor Market ExpansionDUBLIN, April 14, 2022 /PRNewswire/ -- The "Parcel Sortation Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Parcel Sortation Systems Market to Reach $1.8 Billion by 2026 Amid the COVID-19 crisis, the global market for Parcel Sortation Systems estimated at US$1.3 Billion in the year 2020, is projected to reach a revised size of US$1.8 Billion by 2026, growing at a CAGR of 6.7% over the analysis period. Technological advancements and automation are contributing towards positive growth of markets for parcel and mail solutions in both developed as well as developing regions of the world. In particular, significant increase in the adoption of the technology by warehouse operators, logistic partners, delivery centers and logistics companies within regional countries is spurring growth of the market. The Parcel Sortation Systems market in the U.S. is estimated at US$306.1 Million in the year 2021. The country currently accounts for a 23.26% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$237.9 Million in the year 2026 trailing a CAGR of 8.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 5.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR while Rest of European market (as defined in the study) will reach US$260.4 Million by the close of the analysis period. China and US lone account for over 60% of global e-commerce. Ease of purchase and convenient delivery options have contributed to widespread acceptance of e-commerce. Online shopping has been largely driven by the e-commerce revolution. Increased smartphone usage combined with improved data network has helped spur online shopping industry. Online retailing has witnessed development of support infrastructure such as parcel warehouses and delivery centers. The postal industry also requires higher levels of automation for sorting parcels and their delivery. Even as traditional postal mails have declined significantly in volume, the industry also faces several challenges both operational and design. In addition, the emerging demand for warehouse management systems is projected to propel growth in emerging economies. Other key factors driving the market`s growth include increasing demand for automated technologies and the significant growth being witnessed within the global e-commerce market. In the global Services segment, USA, Canada, Japan, China and Europe will drive the 7.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$159.4 Million in the year 2020 will reach a projected size of US$257.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$26.8 Million by the year 2026, while Latin America will expand at a 8.4% CAGR through the analysis period. II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 60 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE III. REGIONAL MARKET ANALYSIS IV. COMPETITION For more information about this report visit https://www.researchandmarkets.com/r/rcsnw0 Media Contact: Research and Markets For E.S.T Office Hours Call +1-917-300-0470 U.S. Fax: 646-607-1904 View original content:https://www.prnewswire.com/news-releases/global-parcel-sortation-systems-market-report-2022-market-to-reach-1-8-billion-by-2026---parcel-supply-chain-trends-favor-market-expansion-301525968.html SOURCE Research and Markets |