Route Optimization Software Market to Grow at 11.5 Percent CAGR | Market Growth Study, Trends, Demand, Opportunities and Forecast 2027
Research Reports
Apr 11, 2022
Market Highlights
The increasing demand for these solutions to manage and track route and delivery services increases the market shares. With the rising demand to effectively manage delivery services & other operations and enhance customer satisfaction, the market is likely to witness high traction in the next few years.
Route optimization software market is expected to create a revenue pocket of USD 5.07 BN by 2023, growing at 11.4?GR during the forecast period (2019–2023). Furthermore, the emergence of cloud-based route optimization software creates substantial market demand.
However, threats of cyber attack or software lag can deter the route optimization software market growth. At the same time, lack of IT infrastructure in the underdeveloped region can bottleneck the expected growth during the forecast period.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/6648
Segmentation:
The market is segmented into solutions, deployment types, users, verticals, and regions. The solution segment is sub-segmented into route optimization software services, route optimization software, and others. The deployment type segment is sub-segmented into on-premise solutions and cloud-based solutions.
The user segment is sub-segmented into small & medium enterprises (SMEs) and large enterprises. The vertical segment is sub-segmented into retails, food delivery, homecare & field services, taxi, online vehicle services, and others. The region segment is sub-segmented into Europe, North America, APAC, MEA, and Rest-of-the-World.
Regional Analysis
Region-wise segmentation of the route optimization software market spans across North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America can be acknowledged the market leader based on its ability to generate revenues. It gets further boosting from the presence of major international companies. However, most of the profit the regional market has been making can be attributed to the infrastructural superiority. The region is fast catching up with the cloud-based and web-based technology as the residents are more willing to integrate the latest technologies into their lifestyle. Furthermore, an increasing amount of disposable income in the area can be seen as a potential market factor.
Europe is the second largest market, and its growth relies mostly on its shared features with North America. The APAC region can record the fastest CAGR during the forecast period. The region is witnessing several lifestyle changes, such as urbanization, rising level of disposable income and digitalization. As a result, smartphone sale has skyrocketed, and companies are getting fast accustomed with logistics management. The lure of eased out workflow has got the companies glued which are spurring the regional route optimization software market growth. Among the countries, Singapore, South Korea, India, and China are impacting the regional market the most.
Industry News
The route optimization software market appears highly competitive and fragmented, owing to the presence of several notable players. Collaboration, mergers & acquisitions, expansion, and technology launch are common trends of industry players to retain their market position. Market players invest substantially to drive R & D activities and to expand their global footprints.
Major Players
Players leading the route optimization software market are Caliper, ALK Technologies, Descartes, Google, Esri, Llamasoft, Omnitracs, Microlise, Ortec, PTV Group, Paragon Software Systems, Quintiq, Routific, and Route4me, among others.
Industry/Innovation/Related News:
Oct. 26, 2021 — ABB announced that Spliethoff Group has selected its Ability™ OCTOPUS software to optimize safety for yacht transportation. ABB Ability™ OCTOPUS is a Marine Advisory System also; this market-leading motion-based route optimization software is used in the semi-submersible heavy lift vessel sector.
With motion monitoring providing alerts of critical motions and motion forecasting to help with route selection, OCTOPUS guides onboard decision-making to optimize safe planning of the voyage ahead.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/route-optimization-software-market-6648
Route Optimization Software Market Information by Component (Software, Services), Deployment (On-cloud, On-premises), Organization Size (Small & Medium Enterprises, Large Enterprises), Vertical (On-demand Food Delivery, Retail & FMCG, Field Services, Ride Hailing & Taxi Services, Others), and Region-Global Forecast to 2027
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Related Reports:
https://blog.daum.net/marketresearchblog/53
https://worlegram.com/read-blog/37338
https://pastemod.com/touch-sensor-market-segmentation-competitive-landscape-and-market-poised-for-rapid-growth-by-2027/
https://telescope.ac/semiconductor-market-news-TisSCXrsO/haZlJCZxs
https://zlidein.com/read-blog/58609
Contact Information:
Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: sales@marketresearchfuture.com Website: https://www.marketresearchfuture.com
Tags:
PR-Wirein, Wire, Research Newswire, English