Global Route Optimization Software Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global route optimization software market in its upcoming report titled, “Global Route Optimization Software Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027”. The global route optimization software market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global route optimization software market report has been segmented on the basis of component, deployment type, organization size, industry vertical, and region.

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Route optimization is one of the useful software also known as route scheduling software which improves operational efficiency through better route scheduling. This software is used for selecting the optimal route considering the factors such as customer’s and driver’s time constraints, vehicle issues, and route availability to ensure low transportation cost. Route software is useful as it maintains customer service objectives and helps deliver quality service within the timeframe.

Increasing need for route optimization software amidst the rising traffic congestion and rising need of improving customer service delivery are major factors expected to drive growth of the global route optimization software market. In addition, increasing cost in the logistics sector, fueled by factors such as fuel expenses, manpower cost, and lower turnaround of vehicles are the other major factors expected to boost growth of the global route optimization software market over the forecast period. Moreover, growing number of connected devices boosting the demand for online service and goods delivery is the other factor expected to drive the growth of the global route optimization software market.

However, lack of awareness about the route optimization in several countries is expected to restrain growth of the global route optimization software market. In addition, high cost of the software may hamper the market growth to a certain extent.

The market in North America accounted for highest revenue share in the global route optimization software market over the forecast period, owing to increasing large-scale investments in implementing route optimization software to address the growing need for delivery efficiency and better driver convenience in countries in the region. The Asia Pacific market is the second-highest revenue share in the global route optimization software market, due to increasing demand for route optimization software solutions and growth in the online transportation industry in the countries in the region. The market in Europe is projected to register fastest growth rate in terms of revenue, due to increasing demand for low-cost cloud deployment in countries in the region. Moreover, the markets in Latin America and Middle East & Africa are expected to register moderate growth rate over the forecast period. Revenue from the market in Middle East & Africa is projected to register a CAGR of X.X% over the forecast period.

Global route optimization software market segmentation:         

By component:

• Software
• Services

By deployment type:

• On-premises
• Cloud

 By organization size:

• Large enterprise
• Small enterprise

By industry vertical:

• Retail & FMCG
• Homecare & Field Services
• Taxi
• Others (include Food Delivery Service, etc.

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa