Route Optimization Software Market

Market overview:
Route optimization is route-scheduling software, which advances operational efficiency
through great route scheduling. Route optimization is the procedure of selecting the optimal
route considering the aspects such as driver’s and customer’s time constraints, route
availability to ensure low transportation cost and vehicle issues.
Route optimization software keeps customer service objectives, and assists deliver quality
service within the timeframe. It aids companies to reduce operating prices, fuel usage, stop
duration, total route distances, and average miles.
The global Route Optimization Software Market was worth USD 3.12 Billion in 2019 and is
estimated to witness a CAGR of 11.45% to reach USD 6.35 Billion by 2024.
Recent developments
 In July 2018, The Greater Jakarta Transportation Agency collaborated with Google to
launch a special feature on its Google Maps platform. Google Maps employed with
public sources, third-party providers, and user contributors regarding the update of the
Market Drivers and Restrains:
Increasing price in the logistics sector, fuelled by aspects such as workforce cost, fuel
expenses, and lower turnaround of vehicles is the key driver for the development of the Route
optimization software market.
Logistics prices are increasing, creating the necessity to reduce operating expenses.
Therefore, the logistics sector struggles to become active in the way it manages transportation
prices, and in turn the transportation schedules and routes. This drives the progress of the
route optimization software market.
The high capital investment-related to on-premise deployment model is the primary factor
restraining the growth of the market.
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Report is segmented as:
By Component:
By Vertical:
On-Demand Food Delivery
Ride Hailing
Taxi Services
Field Services
Geographical Segmentation:
Based on geography, the global market is divided under the regions of North America,
Europe, Asia-Pacific and the Rest of the World. North America grabs the largest portion in
the global Route Optimization Software Market.
Key market players:
AMCS (Ireland)
Google (US)
Omnitracs (US)
Optimoroute (US)
ALK Technologies (US)
Microlise (UK)
Caliper (US)
Descartes (Canada)
Esri (US)
FLS (Germany)
Geoconcept (France)
Portatour (Austria)
Llamasoft (US)
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations
of market potential and forecasts with utmost granularity. Along this, the factors influential
in influencing the market dynamics and trends discussed in detail at the product level.
Further, the performance of the market at the regional and country-level had assessed and
the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance,
market position and growth strategies. Comparative analysis on prime strategically activities
of the market players delineating the key developments like mergers & acquisitions,
collaborations and an evaluation of the competitive environment within the industry had
provided. The report also provides a broad outlook of the current market along with
recommendations from industry experts on the opportunities for investment activity.
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