Route Optimization Software Market Report, Size, Top companies, New Technology, Demand and Opportunity 2022-2027
SHERIDAN, WYOMING, UNITED STATES, August 25, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Route Optimization Software Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global route optimization software market reached a value of US$ 6.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.7 Billion by 2027, exhibiting at a CAGR of 17.3% during 2022-2027. Route optimization software enable users to plan and manage delivery courses via robust algorithms. They are efficient, cost-effective, and provide a remarkable experience compared to manual path planning, which is time-intensive and error-prone. Route optimization software can update already planned courses in real-time, improving driver management and preparing for future business challenges. They integrate historical traffic data, weather conditions, digital technology, and scenario modeling to assist in identifying the fastest and most economical path with multiple stop points. As a result, route optimization software find widespread applications in on-demand food delivery, homecare and field services, retail and FMCG, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Route Optimization Software Market Trends:
The escalating demand for these solutions by enterprises as they are scalable, accurate, efficient, and flexible, owing to the rising digitization and expanding businesses across the globe, is primarily driving the route optimization software market. Besides this, the elevating requirement for online food delivery resolutions, on account of their convenience, and the increasing utilization of smartphones are further augmenting the market growth. Moreover, the growing popularity of route optimization software in small and medium-sized enterprises (SMEs) for managing driver schedules, available hours, complete stops, fulfillment estimates, legal provisions, etc., is also catalyzing the global market. Apart from this, the inflating need for these solutions to lower operational costs, owing to the rising fuel prices, is anticipated to propel the route optimization software market over the forecasted period.
Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• Caliper Corporation
• Environmental Systems Research Institute Inc.
• Geoconcept SAS
• Microlise Telematics Pvt. Ltd.
• Omnitracs (Solera Holdings Inc.)
• Ortec B.V.
• Paragon (Aptean)
• PTV Planung Transport Verkehr AG (Porsche SE)
• Route4me Inc
• Routific Solutions Inc
• Verizon Communications Inc.
• Workwave LLC (IFS AB)
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Breakup by Solution:
• Software
• Services
Breakup by Deployment Type:
• Cloud-based
• On-premises
Breakup by Organization Size:
• Small and Medium-sized Enterprises
• Large Enterprises
Breakup by Vertical
• On-demand Food Delivery
• Taxi
• Homecare and Field Services
• Retail and FMCG
• Others
Breakup by Region:
• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa
Key highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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