The global route optimization software market reached a value of US$ 6.7 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 17.7 Billion by 2027, exhibiting at a CAGR of 17.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Route optimization software enables the user to manage and plan delivery routes via robust algorithms. It is efficient, cost-effective, and provides a remarkable user experience compared to manual route planning, which is error-prone and time-intensive. Moreover, it can update already planned routes in real-time, thereby improving driver management and planning for future business challenges. Nowadays, leading players are introducing new route optimization software that minimizes fuel costs and saves time. It integrates digital technology, historical traffic data, weather conditions, and scenario modeling to help identify the fastest, economical, and planned route with multiple stop points.
Due to digitization and the expansion of business globally, manual route optimization has become more challenging. This represents one of the key factors propelling enterprises around the world to adopt route optimization software as it is efficient, scalable, accurate, flexible, and robust. Apart from this, the escalating demand for online food delivery solutions on account of their convenience, along with the increasing utilization of smartphones and the burgeoning food and beverage (F&B) industry, is bolstering the market growth. In addition to this, food service providers are focusing on improving the accuracy of online orders, simplifying order processing, and providing discount coupons to expand their consumer base. This, in turn, is contributing to market growth. Moreover, small and medium-sized enterprises (SMEs) are relying on route optimization software to increase productivity and improve their customer experience. It also assists in managing driver schedules, available hours, total stops, fulfillment estimates, and legal requirements. Furthermore, rising fuel prices are anticipated to promote the adoption of modern route optimization software to lower operational, fuel, and driver payroll costs significantly.
The publisher provides an analysis of the key trends in each sub-segment of the global route optimization software market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on solution, deployment type, organization size and vertical.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Caliper Corporation, Environmental Systems Research Institute Inc., Geoconcept SAS, Microlise Telematics Pvt. Ltd., Omnitracs (Solera Holdings Inc.), Ortec B.V., Paragon (Aptean), PTV Planung Transport Verkehr AG (Porsche SE), Route4me Inc, Routific Solutions Inc, Verizon Communications Inc. and Workwave LLC (IFS AB).
Route optimization software enables the user to manage and plan delivery routes via robust algorithms. It is efficient, cost-effective, and provides a remarkable user experience compared to manual route planning, which is error-prone and time-intensive. Moreover, it can update already planned routes in real-time, thereby improving driver management and planning for future business challenges. Nowadays, leading players are introducing new route optimization software that minimizes fuel costs and saves time. It integrates digital technology, historical traffic data, weather conditions, and scenario modeling to help identify the fastest, economical, and planned route with multiple stop points.
Route Optimization Software Market Trends:
Due to digitization and the expansion of business globally, manual route optimization has become more challenging. This represents one of the key factors propelling enterprises around the world to adopt route optimization software as it is efficient, scalable, accurate, flexible, and robust. Apart from this, the escalating demand for online food delivery solutions on account of their convenience, along with the increasing utilization of smartphones and the burgeoning food and beverage (F&B) industry, is bolstering the market growth. In addition to this, food service providers are focusing on improving the accuracy of online orders, simplifying order processing, and providing discount coupons to expand their consumer base. This, in turn, is contributing to market growth. Moreover, small and medium-sized enterprises (SMEs) are relying on route optimization software to increase productivity and improve their customer experience. It also assists in managing driver schedules, available hours, total stops, fulfillment estimates, and legal requirements. Furthermore, rising fuel prices are anticipated to promote the adoption of modern route optimization software to lower operational, fuel, and driver payroll costs significantly.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global route optimization software market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on solution, deployment type, organization size and vertical.
Breakup by Solution:
- Software
- Services
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Vertical:
- On-demand Food Delivery
- Taxi
- Homecare and Field Services
- Retail and FMCG
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Caliper Corporation, Environmental Systems Research Institute Inc., Geoconcept SAS, Microlise Telematics Pvt. Ltd., Omnitracs (Solera Holdings Inc.), Ortec B.V., Paragon (Aptean), PTV Planung Transport Verkehr AG (Porsche SE), Route4me Inc, Routific Solutions Inc, Verizon Communications Inc. and Workwave LLC (IFS AB).
Key Questions Answered in This Report:
- How has the global route optimization software market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global route optimization software market?
- What are the key regional markets?
- What is the breakup of the market based on the solution?
- What is the breakup of the market based on the deployment type?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global route optimization software market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Route Optimization Software Market
What is the estimated value of the Global Route Optimization Software Market?
What is the growth rate of the Global Route Optimization Software Market?
What is the forecasted size of the Global Route Optimization Software Market?
Who are the key companies in the Global Route Optimization Software Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | March 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 6.7 Billion |
| Forecasted Market Value ( USD | $ 17.7 Billion |
| Compound Annual Growth Rate | 17.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Route Optimization Software Market
6 Market Breakup by Solution
7 Market Breakup by Deployment Type
8 Market Breakup by Organization Size
9 Market Breakup by Vertical
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Caliper Corporation
- Environmental Systems Research Institute Inc.
- Geoconcept SAS
- Microlise Telematics Pvt. Ltd.
- Omnitracs (Solera Holdings Inc.)
- Ortec B.V.
- Paragon (Aptean)
- PTV Planung Transport Verkehr AG (Porsche SE)
- Route4me Inc
- Routific Solutions Inc
- Verizon Communications Inc.
- Workwave LLC (IFS AB).
Methodology
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