Optimizing workflow has become the need of the hour, and it has been satiated by route optimization software. By planning the sequential stops for logistics operations, including traditional & static planning capabilities, and providing real-time, dynamic data solutions, route optimization software supports operations round-the-clock. It brings in multiple factors and constraints under its purview to chart an effective course to meet customer expectations. Such abilities of the software have made it a market favorite. The global route optimization software market is expected to speed up by 11.4% CAGR during the forecast period (2018-2023), claims Market Research Future (MRFR) in their detailed analysis of the said market. The potential of the market is also projecting a doubling of the market valuation to USD 5.07 billion by 2023 from its previous valuation of 2.50 billion in 2017.
The software understands priority delivery services but keeps an eye on the customer service objectives. While doing so, it effectively manages reallocation of mobile fleet resources and ensures the profitability of accounts and routes, which in the long run increases the profit margin of companies by reducing operational costs drastically. Furthermore, online cab booking service is gaining precedence which can act like a boon for the route optimization software market. When it comes to customer satisfaction, coordination is the key, which route optimization software understands the best.
Despite all the positives, the route optimization software market is vulnerable to malware that can affect the functional capability of the software. At the same time, many developing and underdeveloped countries can suffer from a lack of IT infrastructure. However, the market can bank on the percolating Internet of Things (IoT) which is triggering the adoption rate of web-based and cloud-based services.
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The Global Route Optimization Software Market can be segmented by component, deployment, organization size, and vertical.
By component, the market can be segmented into software and services. Services can be further segmented into consulting services, map integration & software deployment, and support & maintenance. Software is leading the segment by a considerable margin.
By deployment, the route optimization software market comprises on-cloud and on-premises. On-cloud segment is the fastest growing one. However, at present, on-premises is leading the segment.
By organization size, the market includes small & medium enterprises (SMEs), and large enterprises. Large enterprises segment is the leading one, whereas, SMEs are the fastest growing segment.
By verticals, the route optimization software market includes on-demand food delivery, retail & FMCG, field services, ride-hailing & taxi services, others. Retail & FMCG is leading the market, whereas, field services segment is expected to grow with the fastest CAGR during the forecast period.
Prominent players involved in the Route Optimization Software Market are ALK Technologies, Caliper, Descartes, Esri, Google, Llamasoft, Microlise, Omnitracs, Ortec, Paragon Software Systems, PTV Group, Quintiq, Route4me, Routific, and others.
By employing meticulous strategies, competent data analysts of Market Research Future collect information and study them extensively before predicting the future market size of the route optimization software market with a detailed listing of the relevant market segments. Interviews with prime decision makers of various trendsetting companies of the apposite market give the primary research much prominence. The secondary method includes a minute analysis of the present and the past trends to have a better grasp of the upcoming market scenario. To increase the precision of the obtained data, top-down & bottom-up approaches have been integrated into the system which gives a walk-through of the demand and supply equation. Furthermore, by adhering to credible resources such as annual reports, SEC filings, and white papers, our data analysts empower themselves with subtle comprehension of the germane product before proceeding to discuss market factors. The intent is to provide a holistic view of the sector by judging it against irreproachable parameters and enriching it with significant inputs.
Global Route Optimization Software Market by Component
- Consulting Services
- Map Integration & Software Deployment
- Support & Maintenance
Global Route Optimization Software Market by Deployment
Global Route Optimization Software Market by Organization Size
- Small & Medium Enterprises (SMEs)
- Large Enterprises
Global Route Optimization Software Market by Verticals
- On-Demand Food Delivery
- Retail & FMCG
- Field Services
- Ride Hailing & Taxi Services
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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 that are based out of this region. However, the profit the regional market has been making can be attributed to the infrastructural superiority.
Europe is the second largest market, and it can be attributed to its shared features with North America. The APAC region is all set to grow with the fastest CAGR during the forecast period. Smartphone sale has gone sky high, and logistics management are getting adopted by companies across the verticals. The regional market is witnessing the knock-out effect of these two factors. Singapore, South Korea, India, and China are the emerging economies to impact the regional route optimization software market the most.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
LIST OF TABLES
Table 1 Global Route Optimization Software Market, By Region, 2018—2023
Table 2 North America: Route Optimization Software Market, By Country, 2018—2023
Table 3 Europe: Route Optimization Software Market, By Country, 2018—2023
Table 4 Asia-Pacific: Route Optimization Software Market, By Country, 2018—2023
Table 5 The Middle East & Africa: Route Optimization Software Market, By Country, 2018–2023
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LIST OF FIGURES
FIGURE 1 Global Route Optimization Software Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Route Optimization Software Market
FIGURE 4 Value Chain Of Global Route Optimization Software Market
FIGURE 5 Share Of Global Route Optimization Software Market In 2018, By Country (In %)
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