Postal Automation System Market report includes a detailed competitive landscape, along with key players, in-depth analysis, and revenues of key players.Postal Automation System Market Analysis by Top Regions Forecasts report added on ReportsnReports.com. 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.
Major players operating in the market include Siemens (Germany), Toshiba (Japan), NEC (Japan), SOLYSTIC (France), Pitney Bowes (US), Vanderlande (Japan), Fives Group (France), Leonardo (Italy), Lockheed Martin (US), and Beumer Group (US). Other players operating in the postal automation system market include Dematic (US), Interroll (Switzerland), Eurosort Systems (Netherlands), Intelligrated (US), Fluence Automation (US), Bastian Solutions (US), Bowe Systec (Germany), GBI Intralogistics (US), ID Mail Systems (US), Opex (US), Planet Intelligent Systems (Germany), and OCMSRl (Italy).
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The key factors driving the growth of the postal automation system market include growing e-commerce industry, increasing labor costs, and rising need for automated sorting and delivery of parcels in the postal industry. However, the declining volume of traditional mails, along with high initial investments and maintenance costs, in hindering the growth of the market.
“Market for parcel sorters to grow at a high CAGR during the forecast period”
The market for parcel sorters is expected to witness a significant growth during the forecast period owing to the increasing demand for parcel sorters in the postal industry. The demand for parcel sorters is rapidly increasing owing to the rise in parcel volumes.
Increased use of parcel shipping by traditional customers, along with the growth in internet retailing and new parcel shipping services, is boosting the demand for parcel sorters to automate and upgrade hub infrastructure. Moreover, a decline in traditional mail volume has put postal operators under pressure to upgrade their infrastructure for increasing parcel mail volume.
Therefore, parcel sorters play a vital role in parcel sorting and delivery operations, and it is expected that the demand for parcel sorters will grow in the future.
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“Market for services to grow at the highest rate during the forecast period”
Services pertaining to postal automation systems include maintenance and repair, training and consulting, and software upgrades. Postal automation systems have a long shelf life and hence, these require frequent servicing, in terms of hardware and software upgrades or capacity expansion.
Postal automation systems also require periodic maintenance and upgrades. High-value contracts are signed between automation equipment manufacturers and postal operators for after-sales services.
Fixing or replacement of a spare part, and system upgrades are usually not covered under the installation contract; these are covered under service agreements. Thus, the demand for services is expected to grow during the forecast period.
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“Market in APAC to grow at the highest CAGR during the forecast period”
The postal automation system market in APAC is expected to grow at the highest CAGR between 2018 and 2023. This can be attributed to the increasing automation of warehouses and distribution centers in this region and rapid penetration of e-commerce and logistics companies in this region.
Additional factors such as increase in labor costs and automation of supply chain processes are supporting the growth of the postal automation system in this region. China and India are among the developing countries that have huge growth potential for the postal automation system market in APAC.