The Italy route optimization software market is estimated to grow at a CAGR of 9.78% to reach US$31.343 million in 2028 from US$16.312 million in 2021.
— Knowledge Sourcing Intelligence
NOIDA, UTTAR PRADESH, INDIA, August 28, 2023/EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the Italy route optimization software market is projected to grow at a CAGR of 9.78%, between 2021 and 2028 to reach US$31.343 million by 2028. A major factor propelling the Italy route optimization software market growth is the e-commerce sector’s rapid growth, which is indicated by a consistent increase in the number of daily orders for products and services placed by online customers.
Route optimization reduces carbon footprints by cutting down on journey time and maximizing vehicle efficiency. The program assists businesses in quickly responding to traffic or weather circumstances by adding real-time updates, allowing them to reduce needless idling and fuel use. Furthermore, adaptable payment options like pay-per-use or subscription-based services might enable companies to test the software without having to make a sizable upfront expenditure.
Various collaborations and technological advancements are driving the Italy route optimization software market. For instance, In March 2022, Qualcomm and Trimble teamed together to offer automotive OEMs and Tier 1 suppliers high-accuracy positioning services for connected vehicles, Advanced DriverAssistance Systems (ADAS), and autonomous driving solutions. Both the driver and the passenger can benefit from better positioning for a ride-sharing app, meter-level location precision for smartphones, and improved map detail and directions when utilizing real-time navigation programs.
In June 2023, Rivian Automotive, Inc. acquired the ‘A Better Routeplanner’ (ABRP) software developed by Swedish mapping company Iternio. ABRP is a market leader in EV trip planning and has a substantial user base of EV owners in Italy.
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The Italy route optimization software market is segmented into software and services based on product. The route optimization software is a sophisticated technology that needs to be installed, set up, and maintained by experts. Many businesses choose to contract out these duties to knowledgeable service providers who can make sure that software is deployed smoothly and effectively. As a result, there is a rising need for services including consultation, training, and support. Additionally, service providers give enterprises the knowledge, assistance, and customization required to maximize their investment in route optimization software.
The Italy route optimization software market is segmented into food delivery, ride-hailing services, e-commerce, and others based on application. It is projected that changing food consumption patterns and the expanding influence of Italian cuisines on eating habits will have an impact on increased customer desire for quick food delivery services and consumer spending on food services. As a result, several food delivery companies have seen a flywheel effect and are now vying to outperform their rivals in terms of profit margins to capture more of the Italian market. For instance, the Helbiz restaurant has decided to increase its presence in Italy by setting up a shop in Turin, the capital of Piedmont, in January 2023.
According to the province, the Italy route optimization software market is divided into Tuscany, Abruzzo, Aosta Valley, Apulia, and others. These regions have a high level of technological development and employ route optimization software. Additionally, suppliers are trying to boost their market share in the regions by increasing the adoption of SaaS-based route optimization solutions in these areas which will increase the market share of the Italy route optimization software market.
The Italy route optimization software market research study includes coverage of Trimble Inc., Omnitracs, Microlise Telematics Pvt Ltd., and Route4Me Inc. among other significant players in the Italy route optimization software market.
The Italy route optimization software market report segments the market as below:
• By Product
• By Application
o Food Delivery
o Ride-Hailing Services
• By Province
o Aosta Valley
• Trimble Inc
• Microlise Telematics Pvt. Ltd.
• Route4Me Inc.
*List is not exhaustive
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