Global Logistic Software Market is estimated to grow at a CAGR of 8.31% during forecast period 2024-2032

Market Research Future published a half cooked research report on Logistic Software Market.

Market Highlights

The Logistic Software Market is projected to grow from USD 10.9 Billion in 2024 to USD 22.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.00% during the forecast period (2024 - 2032).

The key players in the global logistic software market include Advantech Corportion, Digilogistics, UTI Worldwide Inc, Hexaware Technologies, IBM Corporation, JDA Software, Oracle, Samsung Electronics Co, SAP AG, Tech Mahindra among others.

The global logistic software market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. The logistic software market is highly competitive due to the presence of several large vendors. The competition among the vendors will intensify due to the increase in product extensions and various above mentioned factors. The players in the logistic software market compete on the basis of the factors such as technology, features, design and compatibility. The vendors or the manufacturers are continuously coming up with new ideas and technologies to gain competitive advantage over their competitors.

Regional Analysis

The global logistic software market is expected to grow significantly over the forecast period, 2017-2023. Logistic software segment market globally drives the market majorly due to growing industries like automotive, oil & gas etc. Technological advancement in logistic as well as manufacturing field coupled with increasing digitalization are expected to grow the market at fast pace.

The global logistic software market segmented into four main regions such as North America, Asia-Pacific, Europe and Rest of the World. These regions are further bifurcated into various countries including U.S., Canada, Mexico, UK, France, Germany, China, Japan and India.

North America region hold the largest share of the total logistic software market in terms of revenue followed by Europe. It is due to the presence of some high technology adoption in the region. U.S., Canada and Mexico are countries mainly contributing in the North America logistic software market. The North American system of transportation and logistics is emerging as an outcome of changes in trade and industries. The development of a globally oriented production and distribution system coupled with growing import export activities in countries increases the need of logistic software market.

Germany, The Netherlands, Belgium, The United Kingdom and Sweden are the leading logistics countries in Europe as consider to the quality of transport infrastructure, efficiency of clearance process and the timeliness of shipments. The development in relationship among European countries and the international import export activities will affect the European logistics market in coming year. This will affect the demand of logistic software’s in Europe positively. 

Asia-Pacific region is expected to grow over the forecast period due to the emerging countries like India and Japan. China is the world’s largest automobile production country due to which Asia Pacific is expected to dominate the global logistic software market in coming years. The rapid industrialization in Asia Pacific, particularly in China helps to grow the logistic software market in Asia Pacific. Furthermore, launch of the Make in India Initiative, India is poised to become the next global design and manufacturing hub which will expand the logistic software market in Asia Pacific. 'Make in India' program is providing lot of job opportunities in the country. India is notes as a one of the fastest growing economy in the world.