Route Optimization Software Market
Need for operational competency in route optimization and focus on cloud deployment models are major driving factors in the market growth. WILMINGTON, DE, UNITED STATES, October 17, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " The Global Route Optimization Software Market Size Garner USD 16.25 Billion by 2030, Growing with 14.2% of CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porterโs Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global route optimization software market size was valued at $4,325.40 million in 2020, and is projected to reach $16,252.04 million by 2030, growing at a CAGR of 14.2% from 2021 to 2030.
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Rise in information and computer technology expenditure and increase in adoption of online cab bookings have boosted the growth of the global route optimization software market. However, lack of IT infrastructure in developing countries hinders the market growth. On the contrary, the growth of internet of things (IoT) and adoption of web-based services & advanced communication technologies open new opportunities for the market players in the future.
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 & FMCG, on-demand food delivery, taxi, homecare & field services, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
๐๐ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐๐ง๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ฅ๐๐๐ฌ๐ ๐๐๐๐ฅ ๐๐ซ๐๐ ๐ญ๐จ ๐๐จ๐ง๐ญ๐๐๐ญ ๐จ๐ฎ๐ซ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐ญ: https://www.alliedmarketresearch.com/connect-to-analyst/4442
By solution, the service segment would register the highest CAGR of 17.2% during the forecast period, as it ensures effective functioning of solution with transparency and control throughout the process. However, the software segment held the largest share in 2020, accounting for nearly three-fourths of the global route optimization software market, as it offers optimized route scheduling for pickup planning, freight arrive time approximation, route identification, and inventory routing.
By deployment mode, the on-premise segment dominated the market in terms of revenue in 2020, contributing to nearly three-fourths of the global route optimization software industry, as the software can be managed internally by the company. However, the cloud segment is projected to register the highest CAGR of 18.7% from 2021 to 2030, as it offers access to applications & functionality.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/4442
By region, the market across North America held the largest share in 2020, contributing to nearly two-fifths of the market, due to demand for innovative route optimization software solutions to meet several operational and development demands. However, global route optimization software market across Asia-Pacific is anticipated to portray the highest CAGR of 16.6% during the forecast period, owing to high demand for route optimization software solution and the growth in online transportation industry in the region.
The report analyzes the profiles of key players operating in the market such as FLS- Fastleansmart, Geoconcept, MiTSystems, Optimoroute, Inc., ORTEC, Paragon Software Systems, PLC., Prism Visual Software, Inc., Route4Me, Inc., ROUTIFIC, and Wise Systems, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the route optimization software market.
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Covid-19 scenario:
โ The rise in online grocery shopping during the pandemic to avoid human contact increased the demand for grocery delivery services. This created opportunities for online retail and e-commerce companies. Thus, the demand for route optimization software increased during the Covid-19 pandemic.
โ However, lack of IT infrastructure in developing countries limited the market expansion.
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๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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October 17, 2024, 01:00 GMT
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