DUBLIN–(BUSINESS WIRE)–The “Route Optimization Software Market – Growth, Trends, and Forecasts (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The route optimization software market is expected to witness a growth at a CAGR of 10.9% over the forecast period (2020-2025). Route optimization helps the drivers to complete the task in less time. This software eliminates the daily manual hours of planning with automated multi-stop route planning ability.
According to a global survey conducted by Verizon, in 2019, among the surveyed fleet managers, more than one-third of fleet managers who do not use route optimization solutions were of the opinion that they would expect an increase in productivity if they implemented the technology. The survey also indicates that over 53% of companies that make use of route optimization software reported actual productivity increases – with most of the respondents reporting positive growth in productivity (53% respondents) and compliance (52% respondents).
Companies Mentioned
- Trimble, Inc.
- Caliper Corporation
- Descartes Systems Group Inc
- ESRI Global Inc,
- Google LLC
- Llamasoft Inc.
- Microlise Group Limited
- Omnitracs LLC
- Ortec BV
- Paragon Software Systems PLC
- PTV Planung Transport Verkehr AG
- Quintiq LLC
- Route4me LLC
- Routific Inc.
- Verizon Connect Solutions Inc.
- WorkWave LLC
Key Market Trends
Growing Focus on Reducing Environmental Impact and Increasing Productivity of Fleet is Expected to the Market Growth
- Nike Inc. mentioned that logistics are also the main contributor to carbon emission apart from raw material and manufacturing. Logistics is estimated to contribute over 10% of the total carbon emission by the company. The company has been focusing on reducing 30% CO2 emission through logistics by the end of 2020.
- Spelthorne Borough Council, England, mentioned adopting route optimization software for its kerbside collection services. With this implementation, the department was able to achieve a reduction in CO2 emission by up to 30% and driving time. Also, the company claimed that it increased the productivity of the fleet and was able to reduce its fleet size by over 15% and support future fleet planning.
- DHL, one of the largest courier and logistic company operating in over 220 countries and territories mentioned using route optimization software its last-mile B2C delivery product and orchestrate key last-mile processes. With this implementation, the company was able to achieve a 15% increase in the productivity of delivery agents, and reduced operational costs & increase profitability
North America is Expected to Hold Largest Market Share
- North America, there is a considerably high penetration of vendors offering route optimization software solutions. In 2019, it was estimated that over 35% of the companies that have deployed Asset Management solutions in the region have installed basic GPS location tracking equipment, while more than 44% of such users have customized asset tracking systems, especially for route management and optimization.
- Furthermore, in the case of the United States, there is a significant increase in demand for route optimization solutions, as interoperability regulations (especially for international and joint operations) in the country are evolving. In 2019, NATO’s standardization office via the AST WG announced that it is working to produce asset tracking standardization agreements and a business process model.
- The office plans to establish a standard route optimization system that makes use of an interoperability message set (STANAG 2185) that is triggered when a national tracking system reads a tag or barcode that belongs to another nation or when the asset is being tracked en-route to a theatre of operations.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Use of Logistics-Specific Solutions
4.2.2 Declining Hardware and Connectivity Costs
4.3 Market Restraints
4.3.1 Handling Structured and Unstructured Data
4.4 Industry Value Chain Analysis
4.5 Porters Five Force Analysis
4.6 Assessment on the Impact of COVID-19 on the market
5 EMERGING TECHNOLOGY TRENDS
6 MARKET SEGMENTATION
6.1 By Deployment Mode
6.1.1 On-Premise
6.1.2 Cloud
6.2 By Organization Size
6.2.1 Small and Medium Enterprise
6.2.2 Large Enterprise
6.3 By End-user Vertical
6.3.1 On-Demand Food Delivery
6.3.2 Retail and Food Delivery
6.3.3 Field Services
6.3.4 Ride Hailing & Taxi Services
6.3.5 Other End-user Verticals
6.4 Geography
6.4.1 North America
6.4.2 Europe
6.4.3 Asia-Pacific
6.4.4 Latin America
6.4.5 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/h6or74
