Route Optimization Software Market 2023 - Comprehensive Analysis of Dominating Market Players - FLS- Fastleansmart, Geoconcept, MiTSystems, Optimoroute Inc. , ORTEC, Paragon Software Systems PLC

The global route optimization software market was valued at $2,905 million in 2016 and is projected to reach $9,447 million by 2023, growing at a CAGR of 18.6% from 2017 to 2023. The retail & FMCG industry vertical witnessed high demand for route optimization software in 2016, owing to growth in adoption of route management solutions by e-commerce retailers to reduce logistics costs and increase in operational efficiency.

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In addition, reduced investment cost in software implementation and pay-as-you-go deployment model in cloud deployment are expected to fuel the market growth in the near future. Moreover, the on-demand food delivery service industry has witnessed increased adoption of route optimization software across various regions, owing to strong demand for this service for the customers.

This report provides a comprehensive analysis of

-Top impacting Growth Factors
-Competitive Analysis of Leading Market Players
-Current and Future Market Trends
-Market Segmentation
-Revenue Estimation by 2023

The Asia-Pacific route optimization software market dominated the market in 2016, owing to the high demand for route optimization software solutions and growth in the online transportation industry, including enterprises such as ANI Technologies Pvt. Ltd., Uber India Technology, Kiwitaxi, and others. Global players are focused on innovating efficient route optimization software to strengthen their product offering. In addition, industry participants focus on improving their route optimization software solutions to ensure competence and effectiveness of the route planning and management across other emerging markets such as Latin America, the Middle East, and Africa.

Asia-Pacific was the highest revenue contributor in 2016, accounting for around 37.46% share and is projected to grow at the highest CAGR of 20.2% during the forecast period, driven by growth in adoption of smartphones and logistics management in emerging countries such as Singapore, South Korea, and China.

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Dominating Market Players Profiled in the Report

•FLS- Fastleansmart
•Geoconcept
•MiTSystems
•Optimoroute Inc.
•ORTEC
•Paragon Software Systems PLC
•Prism Visual Software Inc.
•Route4Me, Inc.
•ROUTIFIC and
•Wise Systems Inc.

All these players have adopted geographical expansion, mergers & acquisitions, product portfolio expansion, and partnership to enhance their market position.

Questions answered in Route Optimization Software Market research study:

-What is the market growth rate of Route Optimization Software Market from 2017-2023?

-What will be the global market size of the Route Optimization Software Market from 2017 to 2023?

-Who are the leading global manufacturing companies in the Crowd Analytics Market?

-What are the major current trends and predicted trends?

-What are the challenges faced in the Route Optimization Software Market?

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The adoption of cloud deployments is on the rise, due to growth in demand for low-cost pay-as-you-go model, professional & managed services, and others. Moreover, with high growth rate and low supply‐“demand gap, the route optimization software market is expected to be highly competitive for the key players.

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