Global Postal Automation System Market, By Component (Hardware), By Technology (Delivery Barcode Sorter, Facer Canceller System), Application (Public Post), - Forecast 2023
Market Analysis
The postal automation is gaining huge popularity because of expanding reception of new innovation, for example, optical character recognition and others and developing urbanizations are the elements which are driving the postal automation system market. There some other factor which is boosting the market development of postal automation system market which includes enhancing the expectation for raised living standards along with increasing the requirement for necessary emails. The global postal automation system market is anticipated to reach the market valuation of USD 2.2 billion by 2023, growing at a CAGR of 9.10% during the forecast period (2017-2023).
With the gradual adoption of machine learning and artificial intelligence (AI) technology are boosting the interest in the postal automation system market. For example, the hand-written and the machine-printed addresses are being achieved by the automation system, which requires little speculations are increasingly suitable for the enterprises as it consumes lesser time. With the technological advancements, the prominent companies are currently investing in the updated technologies which are coming with advanced solutions for fulfilling the requirement of their users. There are different systems that are being used in the postal automation which includes culler facer canceller, a tag reader, multi-sorting tilt-tray system, open mail handling system, compact flat sorting machine, video coding machine, integrated reading, compact letter sorter, and others. The factors that are restraining the growth of the postal automation market are the rising cost of labor which has made the manufacturer go for the adoption of the postal automation system.
Market Segmentation
The global postal automation system market is divided on the basis of its component, applications, technology, and regional demand. Based on its component section, the market is divided into software, hardware, and services. Based on its applications, the market is segmented into the private post and the public post. On the basis of its technology, the global postal automation system market is segmented into the facer canceller system, delivery bar code sorter, an automated package processing system, bundle sorter & automated parcel, and others.
Regional Analysis
On a regional basis, the global postal automation system market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Major Players
Some of the major players in the global postal automation system market include companies like Toshiba Corporation (Japan), Escher Group (U.S.), Mitsubishi Logistics, Inc. (Japan), NEC Corporation (Japan), Siemens AG (Germany), Accenture PLC (Ireland), Fujitsu, Ltd. (Tokyo), Falcon Autotech (India), Vanderlande (Netherlands), Solystic SAS (France) among others.