Latest News- Logistics Services Software Market: Retail and e-commerce is expected to lead the End-user segment during 2024-2028

The Logistics Services Software Market is being driven by Increasing adoption of 3PL and emergence of 5PL

The Logistics Services Software Market is expected to grow at a CAGR of 9.64% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3.76 billion. In the global logistics sector, digital transformation is a ongoing process as Original Equipment Manufacturers (OEMs) and technology providers adapt their business models. Competitive pressure is driving logistics providers to adopt technologies that minimize costs and enhance productivity. One such innovation is the implementation of telematics and electronic proof of delivery (ePOD) services. Telematics in trucks offer real-time data on vehicle condition, loading capacity, traffic, and cargo status. This technology delivers numerous advantages, including reduced waiting times, driver status monitoring, optimized routing, fewer accidents, and improved capacity utilization.

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

End-user
- Retail and e-commerce
- Manufacturing
- Healthcare
- Automotive
- Others
Deployment
- On-premises
- Cloud-based
Transportation Management
- Freight Optimization
- Route Planning
- Carrier Management
Warehouse Management
- Inventory Tracking
- Order Fulfillment
- Automation Solutions
Supply Chain Analytics
- Demand Forecasting
- Real-time Visibility
- Data Integration
Geography
- North America
  - Canada
  - US
- Europe
  - Germany
  - UK
  - France
  - Italy
- APAC
  - China
  - India
  - Japan
- Middle East and Africa
  - Egypt
- South America
  - Brazil
  - Argentina

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:

Increasing adoption of 3PL and emergence of 5PL
Rising private equity (PE) investments in logistics industry
Growth of e-commerce industry

However, the market also witnesses some limitations, which are as follows:

Growing number of cargo thefts
Data security and privacy issues
High deployment costs of on-premise logistics services software

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Market Scope in Logistics Services Software Market Research Report

Market Scope
Report Coverage	Details
Page number	185
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 9.64%
Market growth 2024-2028	USD 3.76 billion
Market structure	market_structure.ucfirst
YoY growth 2023-2024(%)	9.18
Key countries	US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, Rest of World (ROW), US, China, Japan, Germany, and UK
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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Research Analysis Overview

The Logistics Services Software Market encompasses innovative solutions for 'Multimodal Transportation' and 'Intermodal Shipping' management. It offers features for 'Transportation Planning', 'Load Optimization', and 'Delivery Time Optimization' through 'Dynamic Routing'. Additionally, it includes 'Demand Forecasting', 'Inventory Control', and 'Stock Management' tools. 'Order Tracking' and 'Delivery Notifications' ensure transparency. Advanced technologies like 'Autonomous Vehicles', 'Wearable Technology', 'Blockchain Technology', 'Cloud-Based Logistics', 'Big Data Analytics', and 'Data Visualization' drive efficiency. 'Business Process Modeling' and 'Supply Chain Modeling' enable 'Scenario Planning' and 'Disaster Recovery'. 'Customer Relationship Management' and 'Enterprise Resource Planning' improve 'Customer Experience' and 'Delivery Experience'. 'Digital Transformation' and 'Logistics Automation' lead to 'Process Optimization' and 'Performance Improvement'. 'Capacity Planning', 'Network Design', and 'Network Optimization' ensure effective 'Strategic Sourcing', 'Vendor Management', 'Contract Management', and 'Compliance Management'. 'Sustainability Reporting' and 'Carbon Offset' options promote eco-friendly practices.

Market Research Overview

The logistics services software market is a significant segment of the global application software market, which falls under the larger IT software industry. This market encompasses companies specializing in Transportation Management Systems (TMS), Warehouse Management Systems (WMS), Order Management Systems (OMS), Inventory Management Systems (IMS), Supply Chain Visibility, Route Optimization, Fleet Management, and Last Mile Delivery solutions. These systems facilitate efficient and effective management of various logistics operations, from inventory control to delivery optimization. The global IT software market comprises firms involved in the development and production of application and system software, excluding those producing database management software or interactive home entertainment software.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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