DUBLIN--(BUSINESS WIRE)--The "Global Parcel Sortation Systems Market (2021-2026) by Offering Type, Type, End-User Type, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added toResearchAndMarkets.com's offering.
The Global Parcel Sortation Systems Market is estimated to be USD 1.85 Bn in 2021 and is expected to reach USD 2.94 Bn by 2026, growing at a CAGR of 9.5%.
The Global Parcel Sortation Systems Market to growth in the e-commerce industry, growing automation by various sectors, and increasing labor cost are significant factors driving the market's growth. On the other hand, the high price associated with the deployment of parcel sortation systems and system maintenance costs is hampering the market's growth.
Furthermore, challenges arise in real-time technicality and processes, and a lack of favorable regulations and government policies for automation may negatively affect the market growth. Moreover, growing infrastructural development, technological development with integration of Internet of Things (IoT) and Industry 4.0 with sorting systems, and emerging various application areas of parcel sorting systems will create opportunities for the market to grow in the forecasted period.
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
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