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.
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
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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 2022, 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.
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