Route Optimization Software Market Analysis By Solution(Software, Services), By Deployment Mode(On-Premise, Cloud), By Enterprise Size(Large Enterprises, Medium Enterprises, Small Enterprises), By Industry Vertical(Retail & FMCG, On-Demand Food Delivery, Taxi, Homecare, Field Services) & Forecast 2024-2035
- PUBLISHED ON
- 9/1/2022
- NO OF PAGES
- 252
- CATEGORY
- Electronics & Communication
Route Optimization Software Market
In terms of value, route optimization software market is anticipated to reach US$15,801.57 Mn by 2031 from US$ 5,252.55 Mn in 2022.
Route optimization software allows users to manage and plan delivery routes through robust algorithms. It is efficient, cost-effective, and provides a superior user experience compared to error-prone and time-consuming manual route planning. One of the key growth drivers for the route optimization software market is the rise of e-commerce and online delivery platforms. Businesses in retail stores, food & beverage delivery stores, and medical services are continually improving their platforms and transforming their businesses, which is expected to provide a major growth opportunity for the route optimization software market. Route optimization software is used to find the fastest and cheapest route among several available routes. The optimized route is completely based on metrics such as the number of stops and the time it takes for each delivery location between the start and end of the route.
Global route optimization software market revenue is expected to increase at a steady CAGR of 13.0% in terms of value over the forecast period (2022–2031). Real-time dynamic routing software optimally handles on-demand orders alongside scheduled orders. In case the orders/preferences of the customer’s changes while the rider is out to deliver, it can change and create new routes for the rider instantly. With routing requirements of companies becoming more complex, it is of prime importance that companies choose vehicle routing solutions that operate in real-time. Moreover, that can help plan routes intelligently to improve delivery efficiency and reduce costs. The increase in the number of solution providers for cloud-based platforms, solutions, and other services to the logistics industry will allow fleet organizations to choose route optimization software from multiple solution providers with affordable prices. The software providers aim to provide affordable solutions and offer monthly, quarterly, and yearly options to allow fleet service providers worldwide.
Increasing spending on information and computer technology (ICT) by businesses to improve their product and service offerings in various established and developing countries drives significant growth of the route optimization software market globally. Furthermore, the delivery services such as on-demand food delivery, retail and grocery delivery services, and e-commerce delivery services are becoming more and more popular in various industries such as food and beverage, retail and e-commerce, and logistics. Such advancements are expected to significantly increase the demand for route optimization software. In addition, the spread of smartphones, the expansion of the food and beverage (F&B) business, and the increased demand due to the convenience of online meal delivery services are driving the market expansion. Hospitality companies are also looking to improve online ordering accuracy, streamline order processing, and offer discount coupons to grow their customer base.
The COVID-19 effect on the route optimization software market has been mixed bag. All markets had come to a halt due to the closure of borders, the suspension of public and private transportation, self-isolation, and quarantine administration in major cities. The decision to self-isolate was shown to be effective in slowing the spread of the virus, giving optimism that humanity will be able to overcome this global calamity. Recovery of losses made by business owners and important players, on the other hand, may prove more difficult than anticipated. Lockdowns were enacted in cities, provinces, and countries. Businesses (including factories) were shuttered or operated at a reduced capacity. However, during the COVID-19 pandemic most of the companies were providing delivery services. The companies faced several challenges related delivery services during the pandemic. The increased online grocery shopping due to the lockdown restrictions caused major challenges for e-commerce and online retail & grocery companies to deliver products on time.
Solution Insights
In terms of solution, software segment dominant the market and hold around 78.3% of the market share in 2022. The software segment is expected to account for a larger share as compared to the service segment during the forecast period, owing to increasing demand for route optimization software, increasing traffic volume, and increasing demand for better customer service.
Deployment Mode Insights
In terms of deployment mode, cloud segment led the route optimization software market with a market share of around 50.3% in 2022. Cloud deployment mode is expected to register higher growth rate over the forecast period due to cost advantage and scalability.
Enterprise Size Insights
In terms of enterprise size, large enterprise segment led the route optimization software market with a market share of around 61.8% in 2022. Large enterprise segment dominates the market by increasing their use of route optimization software equipment and have access to more resources (software) and planning techniques than smaller enterprises.
Industry Verticals Insights
In terms of industry vertical, retail & FMCG segment led the route optimization software market with a market share of around 34.8% in 2022. The retail & FMCG industry is expected to account for greater market size during the forecast period due to the increasing need to shorten service delivery times and reduce delivery and time-related costs.
Regional Insights
By region, the global route optimization software market is segmented into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa. In terms of region, North America accounts for the largest share of the route optimization software market. North American vendors have developed innovative route optimization software solutions for location analytics to meet the diverse operational and development needs of various industries, including taxi service providers, grocery chains, and FMCG.
Key Companies Insights
Key players are focusing on technology collaborations, partnerships, mergers and acquisitions strategies to gain competitive advantage and expand product portfolios and business footprints. To increase product portfolio and expand successfully, route optimization software vendors are further strategizing to pursue merger and acquisition in the future. Through acquisition activities, vendors seek to strengthen their product offerings, accelerate innovation, meet customer demand more rapidly, and expand partner opportunities, while achieving company’s financial return objectives and creating value for shareholders. For instance, in January 2020, AMCS acquired TRUX Route Management Systems Inc., a Canada-based waste management software solutions provider. Some of the key players operating in the global route optimization software market include:
AMCS Group
Caliper Corporation
Esri
FarEye Technologies, Inc.
FLS - FAST LEAN SMART
Geoconcept
Google LLC
Maxoptra
Microlise
Mit Systems Inc
Omnitracs, LLC
Optimoroute, Inc.
Ortec B.V.
Paragon Software Systems
Prism Visual Software, Inc.
PTV Group
RAMAX Group
Route4Me, Inc.
ROUTIFIC
THE DESCARTES
SYSTEMS GROUP INC
Trimble MAPS
Verizon Connect
Wise Systems, Inc.
WorkWave LLC
Others
Segments
By Solution
Software
Services
- Consulting
- Map Integration and Software Deployment
- Support and Maintenance
By Deployment Mode
- On-Premise
- Cloud
By Enterprise Size
- Large Enterprises
- Medium Enterprises
- Small Enterprises
By Industry Vertical
- Retail & FMCG
- On-Demand Food Delivery
- Taxi
- Homecare
- Field Services
- Others
By Geography
North America
o U.S.
o Canada
o Mexico
Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
Latin America
o Brazil
o Argentina
o Colombia
MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
Historic Year: 2016-2022
Forecast: 2024-2035
1. Global Route Optimization Software Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Route Optimization Software Market Scope and Market Estimation
1.2.1.Global Route Optimization Software Overall Market Size (US$ Mn), Market CAGR (%), Market forecast (2022-2031)
1.2.2.Global Route Optimization Software Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2031
1.3. Market Segmentation
1.3.1.Solution of Global Route Optimization Software Market
1.3.2. Deployment Mode of Global Route Optimization Software Market
1.3.3. Enterprise Size of Global Route Optimization Software Market
1.3.4. Industry Vertical of Global Route Optimization Software Market
1.3.5.Region of Global Route Optimization Software Market
2. Executive Summary
3. Market Factor Analysis
3.1. Global Route Optimization Software Market Industry Trends under COVID-19 Outbreak
3.1.1.Global COVID-19 Status Overview
3.1.2.Influence of COVID-19 Outbreak on Global Route Optimization Software Market Industry Development
3.2. Market Dynamics
3.2.1.Drivers
3.2.2.Limitations
3.2.3.Opportunities
3.2.4.Impact Analysis of Drivers and Restraints
3.3. Ecosystem Analysis
3.4. Porter’s Five Forces Analysis
3.5. PEST Analysis
3.6. SWOT Analysis
3.7. Russia-Ukraine War Impacts Analysis
3.8. Ansoff Matrix
3.9. Case Studies
3.9.1.Fidelitone Implementation of Liamasoft Transportation Optimziation Solution to Improve Effiiciency and Routing time
3.9.2.Returnpack Chose AMCS intelligent optimization suite for better transport overview and improved customer services
3.10. Market Investment Feasibility Analysis
3.11. Opportunity Map Analysis
3.12. Pricing Analysis of Global Route Optimization Software Market
3.13. Mergers & Acquisitions, Expansions
4. Global Route Optimization Software Market Estimates & Historic Trend Analysis (2016-2021)
5. Global Route Optimization Software Market Estimates & Forecast Trend Analysis, By Solution
5.1. Global Route Optimization Software Market Revenue (US$ Mn) Estimates and Forecasts, By Solution, 2019 to 2031
5.1.1.Software
5.1.2.Services
5.1.2.1. Consulting
5.1.2.2. Map Integration and Software Deployment
5.1.2.3. Support and Maintenance
6. Global Route Optimization Software Market Estimates & Forecast Trend Analysis, By Deployment mode
6.1. Global Route Optimization Software Market Revenue (US$ Mn) Estimates and Forecasts, By Deployment mode, 2019 to 2031
6.1.1.On-Premise
6.1.2.Cloud
7. Global Route Optimization Software Market Estimates & Forecast Trend Analysis, by Enterprise Size
7.1. Global Route Optimization Software Market Revenue (US$ Mn) Estimates and Forecasts, by Enterprise Size, 2019 to 2031
7.1.1.Large Enterprises
7.1.2.Medium Enterprises
7.1.3.Small Enterprises
8. Global Route Optimization Software Market Estimates & Forecast Trend Analysis, by Industry Vertical
8.1. Global Route Optimization Software Market Revenue (US$ Mn) Estimates and Forecasts, by Industry Vertical, 2019 to 2031
8.1.1.Retail and FMCG
8.1.2.On-Demand Food Delivery
8.1.3.Taxi
8.1.4.Homecare
8.1.5.Field Services
8.1.6.Others
9. Global Route Optimization Software Market Estimates & Forecast Trend Analysis, by Region
9.1. Global Route Optimization Software Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2031
9.1.1.North America
9.1.2.Europe
9.1.3.Asia Pacific
9.1.4.Middle East & Africa
9.1.5.South America
10. North America Route Optimization Software Market: Estimates & Forecast Trend Analysis
10.1. North America Market Assessments & Key Findings
10.1.1. Market Introduction
10.1.2. Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
10.1.2.1. By Solution
10.1.2.2. By Deployment Mode
10.1.2.3. By Enterprise Size
10.1.2.4. By Industry Vertical
10.1.2.5. By Country
10.1.2.5.1. U.S.
10.1.2.5.2. Canada
10.1.2.5.3. Mexico
11. Europe Route Optimization Software Market: Estimates & Forecast Trend Analysis
11.1. Europe Market Assessments & Key Findings
11.1.1. Market Introduction
11.1.2. Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
11.1.2.1. By Solution
11.1.2.2. By Deployment Mode
11.1.2.3. By Enterprise Size
11.1.2.4. By Industry Vertical
11.1.2.5. By Country
11.1.2.5.1. Germany
11.1.2.5.2. U.K.
11.1.2.5.3. France
11.1.2.5.4. Italy
11.1.2.5.5. Spain
11.1.2.5.6. Russia
11.1.2.5.7. Rest of Europe
12. Asia Pacific Route Optimization Software Market: Estimates & Forecast Trend Analysis
12.1. Asia Pacific Market Assessments & Key Findings
12.1.1. Market Introduction
12.1.2. Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
12.1.2.1. By Solution
12.1.2.2. By Deployment Mode
12.1.2.3. By Enterprise Size
12.1.2.4. By Industry Vertical
12.1.2.5. By Country
12.1.2.5.1. China
12.1.2.5.2. Japan
12.1.2.5.3. India
12.1.2.5.4. Australia
12.1.2.5.5. South Korea
12.1.2.5.6. ASEAN
12.1.2.5.7. Rest of Asia Pacific
13. Middle East & Africa Route Optimization Software Market: Estimates & Forecast Trend Analysis
13.1. Middle East & Africa Market Assessments & Key Findings
13.1.1. Market Introduction
13.1.2. Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
13.1.2.1. By Solution
13.1.2.2. By Deployment Mode
13.1.2.3. By Enterprise Size
13.1.2.4. By Industry Vertical
13.1.2.5. By Country
13.1.2.5.1. U.A.E.
13.1.2.5.2. Saudi Arabia
13.1.2.5.3. Egypt
13.1.2.5.4. South Africa
13.1.2.5.5. Rest of Middle East & Africa
14. South America Route Optimization Software Market: Estimates & Forecast Trend Analysis
14.1. South America Market Assessments & Key Findings
14.1.1. Market Introduction
14.1.2. Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
14.1.2.1. By Solution
14.1.2.2. By Deployment Mode
14.1.2.3. By Enterprise Size
14.1.2.4. By Industry Vertical
14.1.2.5. By Country
14.1.2.5.1. Brazil
14.1.2.5.2. Argentina
14.1.2.5.3. Colombia
14.1.2.5.4. Rest of South America
15. Competition Landscape
15.1. Global Route Optimization Software Market Share (%) Analysis, 2021
15.2. Market Competition Matrix, by Leading Players
16. Company Profiles
16.1. AMCS Group
16.1.1. Company Overview
16.1.2. Financial Performance
16.1.3. Product Portfolio
16.1.4. Business Strategy
* Similar details would be provided for all the players mentioned below
16.2. Caliper Corporation
16.3. Esri
16.4. FarEye Technologies, Inc.
16.5. FLS - FAST LEAN SMART
16.6. Geoconcept
16.7. Google LLC
16.8. Maxoptra
16.9. Microlise
16.10. Mit Systems Inc
16.11. Omnitracs, LLC
16.12. Optimoroute, Inc.
16.13. Ortec B.V.
16.14. Paragon Software Systems, PLC.
16.15. Prism Visual Software, Inc.
16.16. PTV Group
16.17. RAMAX Group
16.18. Route4Me, Inc.
16.19. ROUTIFIC
16.20. THE DESCARTES SYSTEMS GROUP INC
16.21. Trimble MAPS
16.22. Verizon Connect
16.23. Wise Systems, Inc.
16.24. WorkWave LLC
16.25. Others
17. Research Methodology
18. Research Findings & Conclusion
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
}})
Select a license type that suits your business needs
US $3950
Only Three Thousand Nine Hundred Fifty US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $4950
Only Four Thousand Nine Hundred Fifty US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $5950
Only Five Thousand Nine Hundred Fifty US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI