The global Logistic Software Market Share is growing continually, mainly due to the growing automation across the logistic industry. Logistic businesses are seeing the benefits that digitization and automation can deliver. Besides, advances in technologies and production & manufacturing processes have sped up the growth of the logistic software market. Growing applications of logistic software in warehouses and logistic businesses escalate the market growth.
With the rising global shipment routing, pricing, rating, and capacity allocation management, the market is projected to perceive substantial traction in the recent future. According to Market Research Future (MRFR), the global logistic software market is expected to garner significant gains by 2027, growing at an impressive CAGR during the review period (2020 – 2027).
Logistics services providers (LSPs) that find it difficult to shell out investments due to higher costs to serve and an inferior customer experience create substantial market demand. Additionally, the rising need for on-demand, software-as-a-service solutions focused on improving the productivity, performance, and security of logistics-intensive businesses bolster the growth of the market.
Furthermore, the rising demand for software-as-a-service solutions to route, schedule, track, and measure delivery resources boosts market size. Increasing adoption of logistic software to plan, allocate, and execute shipments and rate, audit, and pay transportation invoices, push the market shares. Rise in global trade and the need to access trade data and file customs & security documents for imports & exports substantiate the market revenues.
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Highly competitive, the logistic software market appears to be fragmented due to the presence of several well-established players. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and product/ technology launch to maintain their positions and gain a competitive advantage in this market. These players focus on new product development initiatives and geographical expansion.
Players leading the global logistic software market include Digilogistics, Advantech Corporation, UTI Worldwide Inc., IBM Corporation, Hexaware Technologies, JDA Software, SAP AG, Oracle, Samsung Electronics Co, and Tech Mahindra, among others.
The report is segmented into software types, end-users, and regions. The software type segment is sub-segmented into warehouse management, labor management, transportation management, and data management.
The end-user segment is sub-segmented into automotive, government & defense, healthcare, IT & telecommunications, industrial, engineering & manufacturing, oil & gas, and others. The region segment is sub-segmented into North America, Europe, Asia Pacific and the Rest-of-the-World.
The Asia Pacific region dominates the global logistic software market. The largest market share attributes to the increasing industrialization and digitalization in emerging countries like India and Japan. India and China are increasingly investing in commercial and military activities, leading to favorable growth prospects. Besides, the rapid economic growth increased R&D activities, and the rising integration of AI technology propel the regional market.
North America is the second-largest market for logistic software globally. Huge technological advancements and rising uses of AI robotics in warehouse management drive the regional market's growth. Massive spending on growing military activities and the increasing demand for logistic software have opened huge market opportunities.
Europe has been emerging as a promising market for logistic software globally. Most European countries are initiating AI robot applications in warehousing solutions, which have led to the expansion of the regional market. Moreover, increasing R&D investments and burgeoning logistic industry in the region act as key tailwinds for market growth.
The Descartes Systems Group Inc., a global leader in uniting logistics-intensive businesses in commerce, announced the acquisition of Portrix Logistics Software, a leading global provider of multimodal rate management logistic solutions for logistics services providers (LSPs), to strengthen rate management capabilities on the global logistics network.
Portrix has been helping some of the world's largest LSPs, streamline and automate complex global shipping rate management processes. The company's core product, Global Price Management (GPM), is used by customers to enable global shipment routing, pricing, rating and capacity allocation management. Its solutions integrate with crucial systems that need fast, accurate, and complete shipping & pricing options, including CRM, transportation management, and customer-facing online booking platforms.
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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
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