TAM UROUTE 6 SOFTWAREOn the contrary, growth in Internet of Things (IoT) and rise in adoption of web-based services & advanced communication technologies provide immense growth opportunities for route optimization software market. However, lack of IT infrastructure in the developing countries such as Egypt, Nigeria, and Chile is hampering growth of the market. Furthermore, need for operational competency in route optimization and focus on cloud deployment models are the major driving factors in the market. In addition, increase in road traffic compelled efficient route optimization to save fuel consumption, which, in turn, is expected to fuel the market growth. Sharing-based cab services demand efficient route planning for on-time passenger pick-up and arrival at the destination point. With surge in adoption of online cab bookings in several developing and developed regions, the market for route optimization software is expected to witness significant growth in future. The reports highlights trends in several industry vertical, including on-demand food delivery, taxi, homecare & field services, retail & fast moving consumer goods (FMCG), and others that includes solid waste collection, vehicles, and airlines industries. The global route optimization software market is expected to witness significant growth, owing to surge in information and computer technology (ICT) expenditure by enterprises for optimized product and service deliveries in various developed and developing countries, in Asia-Pacific & LAMEA. Route optimization software provides end-to-end route planning and optimization solutions, including route navigation, work order management, efficient driving directions, live map, and delay management. Hence, route optimization software industry has been positively impacted during the crisis. In the wake of COVID-19 pandemic, there was a sudden surge in online grocery shopping and therefore, this has led to a sudden rise in the demand for grocery deliveries, which led to a major challenge for e-commerce and online retail and grocery companies to deliver groceries on time. The global route optimization software market size was valued at $4,325.40 million in 2020, and is projected to reach $16,252.04 million by 2030, growing at a CAGR of 14.2% from 2021 to 2030. Route Optimization Software Market Research, 2030
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