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The logistic software market is expected to grow by approximately 3 billion USD dollars over the next five years. What might be the possible reason for such acceleration? Yes, it’s none other than the e-commerce industry that has revolutionized the logistics market. Smartphones and the internet have proved to be stepping stones to the success of global supply chains in the last decades. People around the world want everything right in front of their eyes in the quickest way possible. Be it their groceries or Gucci shoes, any delay of deliveries would persuade them to shift to other brands. To keep up in the race, transportation companies are constantly developing logistic software for improved productivity.
Logistic software can effortlessly manage any transportation or logistic company. It helps to connect the dots from the origin to the point of consumption. The software has its specialized control on production processes, information flow, inventory management, and packaging. Any organization can benefit from the outstanding results the logistic software aims to deliver.
Logistic software can also serve as an alternative to warehouse management software. From warehouse control to product tracking and maintain supply level, logistic software does it all effortlessly. It brings real-time visibility of the inventories that optimize warehouse management.
A look into the Market Share of Logistic Software
Software vendors have already started to capitalize on this growing industry years ago. They have been on the go to incorporate artificial intelligence with such logistic solutions. The major vendor of the logistic software market include:
- Honeywell International Inc
- BluJay Solutions Inc.
- Blue Yonder Group Inc.
- Accenture Plc
- Manhattan Associates Inc.
- The Descartes Systems Group Inc.
- Epicor Software Corp.
These logistic software companies are thriving to grab the advantage of influential growth. They are constantly maintaining long-term relationships with customers to sustain the immense competition.
It is anticipated that North America will account for 35% of the logistic software market growth. The USA is a major driver in this sector that is responsible for the huge contribution. While South America, MEA, and APAC will be slower compared to the growth of North America. US, China, Germany, Japan are some of the noteworthy countries to stagger high growth of logistic software.
The global market of logistic software is likely to experience a CAGR of 8.20% as per the analysis. The key factors that would drive the market will be cost-effectiveness, time management, and real-time visibility.
As businesses tend to expand, controlling multiple departments and a massive volume of inventory can be daunting. The logistic software market has been competitive throughout the years due to continuous innovation and a bigger investment in the research and development sector. More and more companies are in the search of sophisticated logistic software to streamline complicated processes and improve performance.