The Food Delivery Route Optimization Software Market is projected to grow at a CAGR of 18.57% during the forecast period. The growth of this market is attributed to rapid growth of food delivery sector across the globe. Growing competition in the global food industry along with increasing internet penetration across all major geographies worldwide is encouraging food retailers to use food delivery services. Rising inflow of investments by players across this sector into advanced technologies can streamline processes and help them improve their margins. This is increasing the adoption of route optimization solutions among them, thus boosting the market growth. Geographically, food delivery Route Optimization Software Market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. APAC will witness the significant CAGR during the forecast period on account of rising smartphone users and growing use of food delivery apps in countries like China and India.
Growing competition across food industry
Continuous evolution of wireless communication technologies
Lack of supporting infrastructure in many countries
In 2016, logistics solutions provider Locus raised $2.75 million in Series A funding led by Exfinity Venture Partners to expand its technology offering and workforce.
FarEye has recently launched AI-based real-time dynamic routing feature for food delivery industry.
The major players profiled in the e-commerce Route Optimization Software Market are ALK Technologies, Caliper Corporation, The Descartes Systems Group Inc., Esri Global, Inc., Google, Routific Solutions Inc., LLamasoft Inc. and Microlise.
The food delivery Route Optimization Software Market has been analyzed through the following segments:
By Enterprise Size
Middle East and Africa