Analyst study: parcel sortation market to top $4 billion by 2030
Global parcel sortation system market growing at a 7.1% CAGR from 2022 to 2030, finds report from The Insight Partners.
The parcel sortation system market is estimated to be worth $2.34 billion in 2022 and is poised to reach $4.07 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.1% from 2022 to 2030 according to a new report published by research firm The Insight Partners.
Parcel sortation systems manufacturers are integrating their products with advanced technologies to gain customer attraction, The Insight Partners noted. However, the firm added, the integration of advanced technologies and software is increasing the upfront cost of systems. Thus, sortation manufacturers are focusing on developing advanced parcel sortation systems with reduced prices of the final products as well as the cost involved in their maintenance. The firm concludes that the introduction of cost-effective advanced parcel sortation systems is expected to fuel parcel sortation systems market growth.
Based on type, the parcel sortation system market is segmented into: pop-up sorters, shoe sorters, cross belt sorters, tilt tray sorters, pushtray and others, the firm added. The cross-belt sorters segment held the largest parcel sortation system market share in 2022, whereas the shoe sorters segment is anticipated to register the highest CAGR in the market during the forecast period, according to firm's report.
