The route optimization software market is projected to grow from USD 2.95 billion in 2018 to USD 5.07 billion by 2023, at a CAGR of 11.4%

LONDON, Sept. 19, 2018 /PRNewswire/ -- Increasing use of logistics-specific solutions has helped to determine the shortest and most cost-effective route for logistics operations is driving the route optimization software market.



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The route optimization software market is projected to grow from USD 2.95 billion in 2018 to USD 5.07 billion by 2023, at a CAGR of 11.4% during the forecast period. Factors, such as increasing use of logistics-specific solutions and declining hardware and connectivity costs are expected to drive the route optimization software market. Handling structured and unstructured data is a key factor restraining the growth of the market.

Based on component, the software segment is estimated to lead the route optimization software market in 2018.
Based on component, the software segment is estimated to lead the route optimization software market in 2018. Organizations improve the customer service and efficiency of their business & transportation processes by deploying route optimization software.

Based on deployment type, the on-premises segment is estimated to lead the route optimization software market in 2018.
Based on deployment type, the on-premises segment is estimated to lead the route optimization software market in 2018, as organizations need total control on the security of enterprise-sensitive data such as customer details, delivery route history, and maps.

Based on vertical, the retail & FMCG segment is estimated to lead the route optimization software market in 2018.
Based on vertical, the retail & FMCG segment is estimated to lead the route optimization software market in 2018. Route optimization software helps manufacturers, wholesalers, and retailers better track and optimize their omnichannel strategies, decrease the Cost to Service (CTS), increase operational efficiency, and offer enhanced customer satisfaction & experience and thereby deliver better customer service.

The Asia Pacific route optimization software market is expected to grow at the highest CAGR during the forecast period.
The route optimization software market has been studied for North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Factors such as a rise in the adoption of advanced technologies and increasing GDP of emerging economies are expected to drive the Asia Pacific route optimization software market.

In-depth interviews were conducted with the Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the route optimization software marketplace.
? By Company Type: Tier 1: 11%, Tier 2: 22%, and Tier 3: 67%
? By Designation: C-Level: 12%, Director Level: 50%, and Others: 38%
? By Region: North America: 37%, Europe: 25%, Asia Pacific: 25%, and RoW: 13%

Key vendors profiled in the report are:
? ALK Technologies (US)
? Caliper (US)
? Descartes (Canada)
? ESRI (US)
? Google (US)
? LLamasoft (US)
? Microlise (UK)
? Omnitracs (US)
? ORTEC (Netherlands)
? PTV Group (Germany)
? Quintiq (Netherlands)
? Route4Me (US)
? Routific (Canada)
? Verizon Connect (US)
? WorkWave (US)

Research Coverage
The route optimization software market has been segmented on the basis of component, deployment type, organization size, vertical, and region.Based on component, the route optimization software market has been segmented into software and services.

Based on deployment type, the market has been segmented into on-premises and cloud.The route optimization software market has been segmented based on organization size into large enterprises and small and medium enterprises.

Based on vertical, the market has been segmented into on-demand food delivery, ride hailing & taxi services, field services, retail & FMCG, and others. The route optimization software market has been studied for North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Key Benefits of Buying the Report:

The report will help market leaders and new entrants in the route optimization software market in the following ways:
The report will help market leaders/new entrants in this market by providing them the closest approximations of revenues of the route optimization software market and its subsegments.This report will also help stakeholders better understand the competitor landscape, gain more insights to position their businesses better, and implement suitable go-to-market strategies.

The report will help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

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