Intelligent lockers, also known as smart lockers, are technologically advanced storage systems that leverage technology to improve security, efficiency, and accessibility. These lockers include advanced features including biometric verification, real-time monitoring, and remote access management, making them appropriate for a variety of applications such as schools, colleges, businesses, gyms, commercial buildings, post offices, park areas, and other public locations. These lockers come in various types, such as metal lockers, laminate lockers, wood lockers, plastic lockers, and others.
Key Market Drivers
According to OMR Research, the global intelligent lockers market is expected to grow at a CAGR of 12.5% during the forecast period (2023-2029). The key factor driving the demand is the use of smart storage solutions in various industries, such as retail, education, logistics, and healthcare. Another factor that is boosting market growth is the growth of e-commerce, or online shopping platforms.
Nowadays, e-commerce companies offer intelligent lockers at their pick-up or drop-off facilities for customers, which increases product safety. Customers can use such lockers to return their purchased items as well, without having to wait for pick-up staff from the company. For instance, in February 2023, the Light Rail Manila Corporation (LRMC), in partnership with Airspeed Group of Companies, the parent company of PopBox, announced plans to launch smart locker systems all over LRT-1 stations in Metro Manila. PopBox, which is popular in Indonesia and Malaysia, will allow consumers to designate the local LRT-1 station as a delivery pickup place for their purchases. Users would be allocated to a smart locker, which would be placed by the delivery rider and which they would be able to unlock with a passcode. At present, mail centers are also utilizing such facilities to decrease the work load and ensure proper monitoring of parcels.
Moreover, companies use cutting-edge technology, such as biometric authentication, an LCD panel, and real-time monitoring, to provide users with a secure, convenient, and efficient storage experience. Additionally, smart city programs are being funded by governments all around the world, and intelligent lockers are a significant component of these initiatives. Singapore, for instance, has invested in the creation of smart lockers in public locations to increase the efficiency and convenience of package delivery and storage.
Another driver of market growth is the increasing use of smart food lockers for online grocery delivery across some regions. With increasing e-commerce grocery delivery platforms, companies are building smart lockers for food products as well. These lockers are built to keep food safe even in high temperatures. Panasonic provides smart food lockers that are suitable for high-temperature regions. Panasonic Smartlocker is a modular system that provides four distinct temperature lockers: ambient, chilled, frozen, and heated. Indoor and outdoor versions are offered in 6, 8, 10, or 12 door units that are controlled by an integrated system through a central control screen. The system can be used alone or in conjunction with e-commerce and order management systems in the cloud.
Recent Developments
DPDgroup, TZ Limited, Ricoh USA, Mondern Office Systems, Bradford Systems, Traka, American Locker, Quadient SA, and other companies are supporting and contributing to the intelligent locker market’s growth through various new technologically advanced locker launches, investments, and partnerships. Some recent activities performed by these companies include-
• In February 2023, Amazon, in partnership with TransLink, installed package pickup smart lockers at the Newton bus exchange and South Surrey Park & Ride in Surrey, the SkyTrain Bridgeport Station in Richmond, and the Carvolth bus exchange in Langley. The company will add more such lockers at different locations throughout the year.
• In January 2023, Baldwin Union Free School District in New York announced the completion of smart lockers for students. The school spent less than $900,000 for smart lockers, half of which was covered by state grant money from New York.
• In November 2022, Quadient announced the introduction of Parcel Pending by Quadient in Ireland. Quadient will assist the Irish economy capitalize on the property boom by simplifying package deliveries and enhancing tenants' experiences by delivering safe, self-service smart parcel lockers to companies around the nation, together with a dedicated support center and response and repair staff.
• In September 2022, Arka, an industrial automation business, constructed a $2 million smart locker facility in Romania. Arka's lockers are self-service boxes that are accessible for collection and delivery 24 hours a day, seven days a week. This approach is projected to improve the sustainability of the parcel sector, and the factory will also create roughly 50 new employment in Bra?ov, Romania.
• In May 2022, RedBox, a Smart Parcel Lockers company, completed a pre-series funding round. The $5 million (approximately 19 million Saudi Riyals) financing round was headed by RAAF Holding Company and Mad'a Investments, with angel investors participating. Through its network of Smart Locker stations, RedBox delivers last-mile logistics services.