Route optimization software provides optimized route planning for various applications such as pickup planning, route identification, cargo arrival time estimation, and scheduled deliveries. Various industry players, including Route4Me, Inc., Ifs Solutions India Pvt. Ltd., and Paragon Software Systems Plc. offer optimized route optimization software in the global market. Presently, industry vertical that includes transportation, retail, and food & beverages implemented route optimization software to improve their goods delivery and assignments in the global market.
The global route optimization software market is expected to register substantial growth in the future, attributed to increase in information and computer technology (ICT) expenditure by governments in the developed as well as developing regions, including North America, Europe, and Asia-Pacific. In addition, growth in demand for efficient fleet management and on-time goods & material delivery augments the route optimization software market among several user groups such as large and small & medium enterprises. However, lack of proper ICT infrastructure in the developing regions, including Africa and Latin America, restrains this growth.
The route optimization software market is segmented on the basis of solution, deployment type, enterprise size, industry vertical, and region. On the basis of solution, the market is bifurcated into software and services. Depending on deployment type, it is divided into on-premise and cloud. According to enterprise size, it is categorized into the large enterprises and small & medium-sized enterprises. As per the industry vertical, it is classified into retail & fast-moving consumer goods (FMCG), on-demand food delivery, taxi, homecare & field services, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive competitive analysis and profiles of major market players such as FLS- Fastleansmart, Geoconcept, MiTSystems, Optimoroute, Inc., ORTEC, Paragon Software Systems, PLC., Prism Visual Software, Inc., Route4Me, Inc., ROUTIFIC, and Wise Systems, Inc. are provided. All these market players are involved in various market development strategies such as partnership, product innovation, and business expansion to augment their market reach in the global market.
The global route optimization software market is expected to register substantial growth in the future, attributed to increase in information and computer technology (ICT) expenditure by governments in the developed as well as developing regions, including North America, Europe, and Asia-Pacific. In addition, growth in demand for efficient fleet management and on-time goods & material delivery augments the route optimization software market among several user groups such as large and small & medium enterprises. However, lack of proper ICT infrastructure in the developing regions, including Africa and Latin America, restrains this growth.
The route optimization software market is segmented on the basis of solution, deployment type, enterprise size, industry vertical, and region. On the basis of solution, the market is bifurcated into software and services. Depending on deployment type, it is divided into on-premise and cloud. According to enterprise size, it is categorized into the large enterprises and small & medium-sized enterprises. As per the industry vertical, it is classified into retail & fast-moving consumer goods (FMCG), on-demand food delivery, taxi, homecare & field services, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive competitive analysis and profiles of major market players such as FLS- Fastleansmart, Geoconcept, MiTSystems, Optimoroute, Inc., ORTEC, Paragon Software Systems, PLC., Prism Visual Software, Inc., Route4Me, Inc., ROUTIFIC, and Wise Systems, Inc. are provided. All these market players are involved in various market development strategies such as partnership, product innovation, and business expansion to augment their market reach in the global market.
Key Benefits For Stakeholders
- The study provides in-depth analysis of the global route optimization software market share along with current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the global route optimization software market size are provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the route optimization software market forecast.
- An extensive analysis of the key segments of the industry helps to understand the global route optimization software market trends.
- The quantitative analysis of the global route optimization software market size from 2021 to 2030 is provided to determine the market potential.
Key Market Segments
By Solution
- Software
- Service
By Deployment Mode
- On-Premise
- Cloud
By Enterprise Size
- Large Enterprises
- Small And Medium-Sized Enterprises
By Industry Vertical
- Retail And Fmcg
- On-Demand Food Delivery
- Taxi
- Homecare And Field Services
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Singapore
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ortec
- FLS-FASTLEANSMART
- GeoConcept SA
- MiTSystems
- OptimoRoute Inc.
- Paragon Software Systems, PLC.
- Prism Visual Software, Inc.
- Route4Me, Inc.
- Routific
- wise systems, inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ROUTE OPTIMIZATION SOFTWARE MARKET, BY SOLUTION
CHAPTER 5: ROUTE OPTIMIZATION SOFTWARE MARKET, BY DEPLOYMENT MODE
CHAPTER 6: ROUTE OPTIMIZATION SOFTWARE MARKET, BY ENTERPRISE SIZE
CHAPTER 7: ROUTE OPTIMIZATION SOFTWARE MARKET, BY INDUSTRY VERTICAL
CHAPTER 8: ROUTE OPTIMIZATION SOFTWARE MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Route Optimization Software Market size was valued at $4,325.40 million in 2020, and is estimated to reach $16.3 Billion by 2030, growing at a CAGR of 14.2% from 2021 to 2030.Companies use route optimization to improve route planning, delivery time, and enhance customer experience by increasing completed order delivery. Automating route optimization by adopting route optimization software location analytics which integrates real-time data and visibility in route planning, which improves and enhances fleet management strategies. It primarily helps in optimizing the vehicle routing and route progress tracking in real time. In addition, it helps in reducing fuel cost by providing the most optimized route.
Businesses across the globe use smart transportation strategies to enhance their delivery services. This has led to a substantial rise in the adoption of commercial fleets. According to the Automotive Fleet data, in the U.S., in September 2019, vehicles sales to commercial fleets witnessed an increase of 17% -up to 69,726 compared to the previous year. Hence, the adoption of route optimization software is expected to rise. Furthermore, Dalsey, Hillblom and Lynn (DHL), one of the largest courier and logistic companies operating in over 220 countries and territories, reported using route optimization software as its last-mile B2C delivery product and orchestrate key last-mile processes. The company achieved a 15% increase in the productivity of delivery agents, reduced operational costs & increase profitability with this implementation. Moreover, according to a global survey conducted by Verizon, in 2019, among the surveyed fleet managers, more than one-third fleet managers who do not use route optimization solutions believed that they would expect an increase in productivity if technology is implemented. The survey indicates that over 53% of companies that use route optimization software reported actual productivity increase with most of the respondents reporting positive growth in productivity (53% respondents) and compliance (52% respondents).
On the basis of solution, the software segment dominated the route optimization software industry during the forecast period. This is attributed to the software offered by key vendors include various features such as multi-drop routing, live tracking, location analytics, and workload balancing. Presently, route optimization solution providers have promoted the adoption of solutions across various regions including North America, Europe, Asia-Pacific, Middle East, and Latin America, which, in turn, is expected to fuel the market growth.
Region wise, North America dominated the global route optimization software industry in 2021, and is expected to maintain this trend throughout the forecast period, owing to vendors who have developed innovative route optimization software solutions to cater various operational and developmental demands among several industries, including taxi service providers, food chain, and FMCG.
Key findings of the Study
- Depending on solution, the software segment led the route optimization software market in terms of revenue in 2020.
- By deployment mode, the on-premise segment accounted for the highest route optimization software market share in 2020.
- According to enterprise size, the large enterprises accounted for the highest share in optimization software market analysis.
- As per the industry vertical, the retail & FMCG segment accounted for the highest growth in the route optimization software market in 2020.
- Region wise, North America generated the highest revenue in route optimization software market forecast.
Companies Mentioned
- ortec
- FLS-FASTLEANSMART
- GeoConcept SA
- MiTSystems
- OptimoRoute Inc.
- Paragon Software Systems, PLC.
- Prism Visual Software, Inc.
- Route4Me, Inc.
- Routific
- wise systems, inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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