New York, United States, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Route optimization software finds usage in the user's fleet management systems. This program incorporates GPS monitoring and comprehensive reporting tools that help dispatchers design more fuel-efficient routes, avoid unexpected pauses, and decrease delivery network bottlenecks.
Rising Organic Farming to Increase the Demand for Route Optimization Software
For the previous decade, the European organic market has expanded rapidly. By the end of 2017, 14.6 million hectares of land in Europe were farmed organically. In Europe, there are over 5300 importers, and the region's importers have experienced rapid expansion. As of 2017, Europe accounted for 60% of all food waste, with spoiling accounting for an average of 21% of waste. As a result, corporations are increasingly using route optimization software to deliver these perishable items.
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Introduction of Route Optimization Software as a Service Model
The software as a service route planning methodology is different from traditional route planning. This concept eliminates the need for infrastructure, setup fees, and dedicated resource costs. Since SaaS is scalable, it is expected that other organizations would use it. It also eliminates the need for many devices in every car to conduct GPS tracking, navigation, and other services. The SaaS model route optimization is expected to gain popularity during the forecast period.
Impact of COVID-19
Avoiding human contact by ordering groceries online increases demand for supermarket delivery services. This benefited internet retailers and e-commerce businesses. During the COVID-19 pandemic, route optimization software was in demand. Route optimization software reduced truck idling time and increased delivery executive efficiency by assigning ideal routes, enhancing the route optimization software company during the pandemic crisis.
Report Scope
| Report Metric | Details |
| Market Size | USD 12.41 Billion by 2030 |
| CAGR | 11.56 % (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Enterprise, Deployment, Vertical ,Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Bringg, Caliper Corporation, FarEye, FASTLEANSMART, AMCS Group, Jungleworks, LogiNext Mile, Mara Labs, Inc (Locus), Maxoptra – Magenta, Omnitracs |
| Key Market Opportunities | Rising Popularity of Online Shopping to Boost the Market Growth |
| Key Market Drivers | Increasing Adoption of Route Optimization Software by Logistics Companies |
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Regional Insights
North America dominated the route optimization software market. Vendors in this market have created cutting-edge route optimization software solutions for location analytics to meet the needs of various sectors, including taxi service providers, restaurant chains, FMCG, and others.
The Asia-Pacific market is expected to grow rapidly over the projected period. Regulators and industry experts agree that effective management of IoT-linked devices is required. ANI Technologies Pvt. Ltd., Uber India Technology, Kiwitaxi, and others are among the firms that operate in this market.
Key Highlights
- The global route optimization software market was valued at USD 3,729 million. It is expected to reach USD 12,416 million by 2030, at a CAGR of 11.56%.
- The on-premise segment has acquired the largest market share as it increases customer retention and profits. It also helps attract new customers, enhances business-to-customer communication, ensures consumer satisfaction, and allows future development.
- Market leaders are introducing new route features in Google Maps. Google Maps will collaborate with route optimization technologies to provide users with timely updates.
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Competitive Players in the route optimization software Market
- Bringg
- Caliper Corporation
- FarEye
- FASTLEANSMART
- AMCS Group
- Jungleworks
- LogiNext Mile
- Mara Labs, Inc (Locus)
- Maxoptra – Magenta
- Omnitracs
Global Route Optimization Software Market: Segmentation
By Enterprise
- Large Enterprises
- Small and Medium-Sized Enterprises
By Deployment
- On-Premise
- Cloud
By Vertical
- Transportation and Logistics
- Business and Home Services
- Government and Public Safety
- Construction and Heavy Equipment’s
- Others
Regions Covered
- North America
- Europe
- Asia-Pacific
- South America and the Middle East and Africa
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Market Overview
3.1 Report Segmentation & Scope
3.2 Value Chain Analysis: Global Route Optimization Software Market
3.3 Key Market Trends
3.3.1 Drivers
3.3.2 Restraints
3.3.3 Opportunities
3.4 Porter’s Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of Substitution
3.4.4 Threat of New Entrants
3.4.5 Competitive Rivalry
3.5 Market Share Analysis
3.6 Potential Venture Avenues
4 Industry Vertical Overview
4.1 Introduction
4.1.1 Market Size & Forecast
4.2 Transportation and logistics
4.2.1 Market Size & Forecast
4.3 Business and home services
4.3.1 Market Size & Forecast
4.4 Government and public safety
4.4.1 Market Size & Forecast
4.5 Others
4.5.1 Market Size & Forecast
5 Organization Size Overview
5.1 Introduction
5.1.1 Market Size & Forecast
5.2 SMEs
5.2.1 Market Size & Forecast
5.3 Large Enterprises
5.3.1 Market Size & Forecast
6 Deployment Type Overview
6.1 Introduction
6.1.1 Market Size & Forecast
6.2 On-premise
6.2.1 Market Size & Forecast
6.3 Cloud
6.3.1 Market Size & Forecast
7 Regional Overview
7.1 Introduction
7.1.1 Market Size & Forecast
7.2 North America
7.2.1 Market Size & Forecast
7.2.2 U.S.
7.2.2.1 By Industry Vertical
7.2.2.2 By Organization Size
7.2.3 Canada
7.2.3.1 By Industry Vertical
7.2.3.2 By Organization Size
7.2.4 Mexico
7.2.4.1 By Industry Vertical
7.2.4.2 By Organization Size
7.3 Europe
7.3.1 Market Size & Forecast
7.3.2 Germany
7.3.2.1 By Industry Vertical
7.3.2.2 By Organization Size
7.3.3 France
7.3.3.1 By Industry Vertical
7.3.3.2 By Organization Size
7.3.4 U.K
7.3.4.1 By Industry Vertical
7.3.4.2 By Organization Size
7.3.5 Italy
7.3.5.1 By Industry Vertical
7.3.5.2 By Organization Size
7.3.6 Spain
7.3.6.1 By Industry Vertical
7.3.6.2 By Organization Size
7.3.7 Russia
7.3.7.1 By Industry Vertical
7.3.7.2 By Organization Size
7.3.8 Poland
7.3.8.1 By Industry Vertical
7.3.8.2 By Organization Size
7.3.9 Rest of Europe
7.3.9.1 By Industry Vertical
7.3.9.2 By Organization Size
7.4 Asia Pacific
7.4.1 Market Size & Forecast
7.4.2 Japan
7.4.2.1 By Industry Vertical
7.4.2.1 By Organization Size
7.4.3 China
7.4.3.1 By Industry Vertical
7.4.3.2 By Organization Size
7.4.4 Australia
7.4.4.1 By Industry Vertical
7.4.4.2 By Organization Size
7.4.5 India
7.4.5.1 By Industry Vertical
7.4.5.2 By Organization Size
7.4.6 South Korea
7.4.6.1 By Industry Vertical
7.4.6.2 By Organization Size
7.4.7 Vietnam
7.4.7.1 By Industry Vertical
7.4.7.2 By Organization Size
7.4.8 Indonesia
7.4.8.1 By Industry Vertical
7.4.8.2 By Organization Size
7.4.9 Malaysia
7.4.9.1 By Industry Vertical
7.4.9.2 By Organization Size
7.4.10 Singapore
7.4.10.1 By Industry Vertical
7.4.10.2 By Organization Size
7.4.11 Rest of Asia-Pacific
7.4.11.1 By Industry Vertical
7.4.11.2 By Organization Size
7.5 LATAM
7.5.1 Market Size & Forecast
7.5.2 Brazil
7.5.2.1 By Industry Vertical
7.5.2.2 By Organization Size
7.5.3 Argentina
7.5.3.1 By Industry Vertical
7.5.3.2 By Organization Size
7.5.4 Colombia
7.5.4.1 By Industry Vertical
7.5.4.2 By Organization Size
7.5.5 Rest of LATAM
7.5.5.1 By Industry Vertical
7.5.5.2 By Organization Size
7.6 Middle East
7.6.1 Market Size & Forecast
7.6.2 Saudi Arabia
7.6.2.1 By Industry Vertical
7.6.2.2 By Organization Size
7.6.3 Oman
7.6.3.1 By Industry Vertical
7.6.3.2 By Organization Size
7.6.4 Qatar
7.6.4.1 By Industry Vertical
7.6.4.2 By Organization Size
7.7.5 Bahrain
7.7.5.1 By Industry Vertical
7.7.5.2 By Organization Size
7.6.6 UAE
7.6.6.1 By Industry Vertical
7.6.6.2 By Organization Size
7.6.7 Rest of Middle East
7.6.7.1 By Industry Vertical
7.6.7.2 By Organization Size
7.7 Africa
7.7.1 Market Size & Forecast
7.7.2 Nigeria
7.7.2.1 By Industry Vertical
7.7.2.2 By Organization Size
7.7.3 Tanzania
7.7.3.1 By Industry Vertical
7.7.3.2 By Organization Size
7.7.4 South Africa
7.7.4.1 By Industry Vertical
7.7.4.2 By Organization Size
7.7.5 Ghana
7.7.5.1 By Industry Vertical
7.7.5.2 By Organization Size
7.7.6 Rest of Africa
7.7.6.1 By Industry Vertical
7.7.6.2 By Organization Size
8 Company Profile
8.1 Verizon Connect
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Recent Developments
8.1.4 Industry Vertical Portfolio
8.2 Caliper Corporation
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Recent Developments
8.2.4 Industry Vertical Portfolio
8.3 FarEye
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.3.4 Industry Vertical Portfolio
8.4 FLS – FASTLEANSMART
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 Recent Developments
8.4.4 Industry Vertical Portfolio
8.5 Maxoptra
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Recent Developments
8.5.4 Industry Vertical Portfolio
8.6 The Descartes Systems Group Inc.
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Recent Developments
8.6.4 Industry Vertical Portfolio
8.7 Trimble Inc.
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Recent Developments
8.7.4 Industry Vertical Portfolio
Table of Content and Figure @ https://straitsresearch.com/report/route-optimization-software-market/toc
Market News
- In November 2018, FarEye announced the acquisition of Dipper Technologies, a freight logistics marketplace, to strengthen the company’s position as a leader of last-mile delivery and provide enhanced clarity for delivery accuracy with Dipper’s analytics.
- In June 2019, FarEye launched an AI-based real-time dynamic routing feature to empower on-time and cost-effective deliveries.
- In August 2019, Zomato partnered with FarEye to help restaurants stay compliant with the Food Safety and Standards Authority of India’s (FSSAI) guidelines.
News Media
Last Mile Logistics - A Modern E-Commerce and Omni Channel Supply Chain
Route Optimization Software to Grow at a Impressive Healthy CAGR During Forecast Period
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