Route Optimization Software Market At a 14.2% CAGR | Top major players - Route4Me, Inc., Routific, wise systems, inc.

As per the report published by Allied Market Research, the global route optimization software market was pegged at $2.91 billion in 2016, and is expected to garner $9.45 billion by 2023, registering a CAGR of 18.6% from 2017 to 2023.

Need for operational competency in route management, the surge in demand for online cab booking, and a high focus on cloud deployment models have boosted the growth of the global route optimization software market.

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However, the lack of IT infrastructure in underdeveloped nations hampers the market growth. On the contrary, growth in the Internet of Things is expected to create lucrative opportunities in the near future.

The global route optimization software market is segmented on the basis of solution, deployment type, user type, industry vertical, and geography. Based on solution, the market is divided into software and service. On the basis of industry vertical, the market is bifurcated into on-demand food delivery, taxi, homecare & field services, retail & FMCG, and others.

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On the basis of deployment type, the market is divided into cloud and on-premise. The cloud deployment type accounted for the largest share in 2016, growing at a CAGR of 19.2% during the forecast period.

Based on user type, the market is categorized into SMEs and large enterprises. The SMEs segment held the largest share in 2016 and is expected to maintain its dominance throughout the market period.

The global route optimization software market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the U.S. held the largest share in 2016.

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On the other hand, the market across Asia-Pacific contributed more than one-third of the market. Moreover, the region is expected to register the highest CAGR of 20.2% during the study period..

The global route optimization software market report includes an in-depth analysis of the major market players such as:

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

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