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(IT-NEWSWIRE.COM, September 26, 2018 ) According to the new market research report "Parcel Sortation Systems Market by Type (Linear, Narrow Belt Sorters, Shoe Sorters, Small Parcel Sorters, and Loop, Cross-Belt Sorters Tilt Tray Sorters), Offering (Hardware, Software, and Services), End User Industry, and Geography - Global Forecast to 2023", the parcel sortation systems market is expected to be valued at USD 1.31 Billion in 2018 and is likely to reach USD 2.05 Billion by 2023, at a CAGR of 9.3% between 2018 and 2023. The growth of the parcel sortation systems market is propelled by increasing labor costs, rising industrial automation, and growth in e-commerce. Factors such as emerging application areas of parcel sorting systems and integration of Industry 4.0 and IoT with sorting systems are creasing huge growth opportunities for the players in the parcel sortation systems market.
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The parcel sortation systems market has been segmented on the basis of type, offering, end-user industry, and geography. Linear parcel sortation systems held a larger share of the parcel sortation systems market in 2017. This can be attributed to the benefits offered by linear parcel sortation systems in terms of their higher throughput capacity and ability to sort different kinds of parcels. These factors make linear parcel sortation systems an ideal solution for end-user companies that deal in parcels of different shapes and sizes. Linear parcel sortation systems can be further classified into ARB sorters, linear/vertical belt sorters, pop-up/narrow belt sorters, shoe sorters, small parcel sorters, paddle sorters, and pusher sorters.
Among all offerings, the parcel sortation systems market for services is expected to register the highest CAGR between 2018 and 2023. Frequent servicing requirements, in terms of hardware and software upgrades or capacity expansion, is the major factor driving the growth of the parcel sortation systems market for services.
Among all end-user industry, the parcel sortation systems market for e-commerce is expected to grow at the highest CAGR between 2018 and 2023. The growth of the parcel sortation systems market for this industry can be attributed to the exponential increase in the number of parcels to be sorted and delivered to customers worldwide.
Europe held the largest share of the parcel sortation systems market in 2017. Presence of prominent logistics and e-commerce companies and major parcel sortation systems solution providers in this region has led to the dominance of Europe in the parcel sortation systems market.
High deployment and maintenance costs are restraining the growth of the parcel sortation systems market. Top companies such as Dematic (US), Muratec (Japan), Vanderlande (Netherlands), BEUMER Group (Germany), Intelligrated (US), Fives (France), Bastian Solutions (US), Siemens (Germany), Interroll (Germany), and Invata Intralogisitcs (US) have adopted the strategies of partnerships and contracts, and expansions to strengthen their position in the parcel sortation systems market.
Dematic has adopted inorganic growth strategies to strengthen its position in the parcel sortation systems market. In November 2015, Dematic acquired Reddwerks, a US-based warehouse execution software provider; in January 2015, the company acquired FSU Investments Limited, a UK-based financial management firm, which holds a major stock in SDI Group Ltd, a UK-based provider of technological solutions to retail, e-commerce, and wholesale companies.
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