Press release
Route Optimization Software Market Size Worth US$ 17.7 Billion Globally by 2027, at 17.3% CAGR
Route Optimization Software Market
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Route Optimization Software Market Trends:
The market is primarily driven by the rapid expansion of businesses that use cloud-based platforms, solutions, and other services in the logistics industry. Besides this, the route optimization software is an efficient, cost-effective, error-prone, and time-intensive solution that provides an enhanced user experience compared to manual route planning, which is fueling the market growth. In addition, the significant growth of the food and beverage (F&B) industry and the surging adoption of online cab bookings, especially in developing regions, are significantly impacting the market growth. Nowadays, rapid digitization across various industries coupled with the rising smartphone penetration is enabling small and medium-sized enterprises (SMEs) to reply on route optimization software. Furthermore, key players are investing in research and development (R&D) activities to introduce new route optimization software that minimizes fuel costs and saves time. Moreover, the integration of digital technology, historical traffic data, weather conditions, and scenario modeling also helps identify the fastest and most economical route, thus propelling the market growth further.
Competitive Landscape with Key Players:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market:
• 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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Key Segmentation:
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 (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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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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