Route Optimization Software Market – Global Industry Analysis and Forecast

Route Optimization Software Market is expected to reach US$ 5.05Bn by 2026 at a CAGR of 11.2% during the forecast period. Route Optimization is software which easily expands and integrates with existing systems. Route optimization improves operational efficiency through better route scheduling.

The major drivers of the market include the increasing use of logistics-specific solutions and declining connectivity costs and hardware. Handling unstructured and structured data is a restraining factor that would hinder the growth of the route optimization software market in the future.

market is segmented by organization size, industry vertical, component, deployment model, and region. By organization size, the large enterprises' organization segment is expected to have large route optimization software market size during the forecast period, owing to the large-scale implementation of increased operations and customized software. However, the small and medium-sized enterprises segment is likely to grow at the highest CAGR during the forecast period, due to a rise in demand of cloud-based route optimization software.

Based on a component, the route optimization software market is classified into software and services. Among these, the software segment is likely to hold larger route optimization software market share during the forecast period. Organizations improve the customer efficiency and service of their transportation and business processes by deploying route optimization software.

While using a deployment model, the route optimization software market is classified into on-premises and cloud. The on-premises segment is expected to lead the route optimization software market during the forecast period, owing to total control of organizations on the security of enterprise-sensitive data such as delivery route history, maps, and details.

Among Industry vertical, the retail & FMCG segment is estimated to have larger route optimization software market share during the forecast period, as retailers can optimize and track omnichannel strategies, increase operational efficiency, decrease the Cost to Service (CTS), and offer enhanced customer satisfaction & experience and thereby deliver better customer service.

North America is expected to have a large route optimization software market size during the forecast period. North America is advanced in terms of technology adoption and infrastructure. However, Asia Pacific is expected to record highest growth rate during the forecast period, owing to various factors such as the increase in GDP of emerging economies and rise in the adoption of advanced technologies.

Key Players Profiled and Analysed in the Report

Optimoroute, ORTEC, Paragon Software, PTV Group, Quintiq, FarEye, Route4me, RouteSolutions, Routific etc.

Scope of the report of Route Optimization Software Market

Market, by Component

• Software
• Services
• Consulting
• Map Integration & Software Deployment
• Support & Maintenance

Market, by Deployment Model

• On-premises
• Cloud

Market by Organization Size

• Small & Medium Sized Enterprises
• Large Enterprises

Market, by Industry Vertical

• On-demand Food Delivery
• Retail & FMCG
• Field Services
• Ride Hailing & Taxi Services
• Others

Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

Key Players of Route Optimization Software Market

ALK Technologies

AMCS

Caliper

Descartes

Esri

FLS

Geoconcept

Google

Portatour

Llamasoft

Maxoptra

Microlise

Omnitracs

Optimoroute

ORTEC

Paragon Software

PTV Group

Quintiq

FarEye

Route4me

RouteSolutions

Routific

Scientific Logistics

Truckstops

Verizon Connect

Workwave

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