The global route optimization software market size was US$ 4,925.40 million in 2021. The global route optimization software market is forecast to grow to US$ 16,111.9 million by 2030 by registering a compound annual growth rate (CAGR) of 13.2% during the forecast period from 2022 to 2030. 

The route optimization software is used to obtain end-to-end route planning and optimization solutions. It includes work order management, live map, driving directions, delay management, and route navigation. 

Factors Influencing the Market

• The surge in demand for online cab booking platforms is forecast to fuel the growth of the global route optimization software market. 
• Sharing-based cab services are gaining significant traction all across the globe. As a result, the global route optimization software market is forecast to witness ample growth opportunities in the coming years. 
• Growing internet penetration is driving the demand for web-based services and advanced communication technology. Thus, it is expected to benefit the global route optimization software market during the forecast period. 
• The rising demand for error-free optimized operation management systems is forecast to be opportunistic for the industry players.
• Efficient features of route optimization software, such as vehicle and driver tracking, two-way communication, delivery planning, customer-relationship management with on-time delivery, and driver safety & time management, will drive the overall industry forward. 

COVID-19 Impact Analysis

The COVID-19 outbreak has negatively impacted the entire travel and tourism industry. Demand for cabs decreased drastically due to imposed restrictions. As a result, route optimization software vendors witnessed significant losses. On the contrary, the market witnessed various opportunities in the online grocery shopping segment. Online shopping platforms and online grocery delivery platforms observed a substantial boom, which triggered the demand for route optimization software during the COVID-19 pandemic. 

Regional Analysis

North America is forecast to hold the highest share in route optimization software, owing to the rising deployment of route optimization software in the region. It is attributed to the booming e-commerce segment. Furthermore, the growing online cab booking platforms will contribute to the growth of the global route optimization software market during the forecast period. 

The Asia-Pacific route optimization software market is forecast to exhibit significant growth due to the steeply growing online transportation industry. Furthermore, the presence of prominent enterprises, such as ANI Technologies Pvt. Ltd., Uber India Technology, Kiwitaxi, etc., will drive the industry forward. 

Competitors in the Market

• Ortec
• FLS-FASTLEANSMART
• GeoConcept SA
• MiTSystems
• OptimoRoute Inc.
• Paragon Software Systems, PLC.
• Prism Visual Software, Inc.
• Route4Me, Inc.
• Routific
• wise systems, Inc.
• Other Prominent Players

Market Segmentation

The global route optimization software market segmentation focuses on Solution, Deployment, Enterprise, Industry Vertical, and Region. 

By Solution

• Software
• Service

By Deployment Mode

• On-Premise
• Cloud

By Enterprise Size

• Large Enterprises
• Small And Medium-Sized Enterprises

By Industry Vertical

• Retail And Fmcg
• On-Demand Food Delivery
• Taxi
• Homecare And Field Services
• Others

By Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America