According to the latest research report titled “Delivery Management Software Market to 2027–COVID-19 Impact and Forecast and Global Analysis,” published by The Insight Partners, the global delivery management software market was valued at US $1,594.3 million in 2019, and it is expected to grow at a CAGR of 12.7% during 2020–2027 to reach US $4,011.8 million by 2027.
In the logistics industry, several challenges occur due to an imbalance between demand and resource availability, as well as inadequate area mapping. Machine learning, an application of artificial intelligence (AI), is the foundation of the next-gen of logistics technologies. It offers systems the ability to learn from recorded data and experiences as it comprises the use of algorithms, patterns, and predictive insights.
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The technology optimizes customer experiences and transforms logistics processes. It identifies the type of delivery address to assign a suitable time for product deliveries automatically; also, it ensures the customer’s presence at the time of delivery to improve customer experience. With the capabilities of machine learning, online retailers can swiftly acknowledge and identify customers who have been disconnected from their services.
Additionally, online retailers can ensure customer retention by reminding customers to reorder perishable products or share exclusive deals. Several online food delivery companies are implementing machine learning technology to enhance their delivery management business and increase the efficiency of their businesses. For instance, Deliveroo, a UK-based food delivery company, invests in advanced technology to stay competitive in the market. The company has adopted machine learning technology to surge effectiveness in its market-leading food delivery service. Glovo, a Spain-based food delivery company, also uses machine learning to forecast the probability of a customer remaining active on the app.
Key findings of study:
Consumers of all age groups prefer online shopping as there are a considerable number of websites and apps to choose products. E-commerce platforms also enables various businesses to reach their customers with a greater ease. E-commerce is one of the mature industries, where consumers are highly inclined toward online shopping. According to the Census Bureau of the Department of Commerce, US retail e-commerce sales were worth US$ 160.3 billion in the first quarter of 2020, with an increase of 2.4% from the fourth quarter of 2019.
Thus, the growing e-commerce industries in APAC and North America are thriving in the business for delivery management software. The software is a bridge between the e-commerce companies and the logistic companies. Bridging this gap helps e-commerce businesses carry out seamless pickup and delivery operations with real-time tracking. Delivery management software aid better visibility into logistics operations to the e-commerce companies. Thus, this factor is scaling up delivery management software market size year-on-year.
DELIFORCE TECHNOLOGIES PRIVATE LIMITED, GETSWIFT LIMITED, JUNGLEWORKS -PROMINENT MARKET PARTICIPANTS IN DELIVERY MANAGEMENT SOFTWARE MARKET
Delivery management software is used in numerous industries to track shipments and ensure smooth delivery of goods to customers. By adopting the innovative delivery management software, companies would be able to achieve various benefits, such as better customer satisfaction, improved asset utilization, and reduced fuel usage. The software connects the driver and the back-end office via a single platform and offers all the information required by a driver for the delivery of an item.
Growing investments in delivery management software and rising adoption of cloud technology are driving the global delivery management software market. The shift from paperless work to automation is also likely to fuel the global delivery management software market growth. A few delivery management software features, such as real-time visibility, simplified business operations, engaging customer communication, and enhanced routing options, are positively influencing the growth of the global delivery management software market. Online shoppers across the world demand access to real-time tracking of their parcels and timely updates on the status of their returned goods and confirmation; thus, the growing preferences of customers for online shopping are propelling the growth of the delivery management software market.
The on-demand delivery industry continues to grow, with technology playing a major role in automating services to ensure better customer experience. In the US, online grocery shopping has increased by 35 million shoppers, which proves that on-demand delivery is a trend and a new wave of consumer behavior. By utilizing the advantages of machine learning, vendors in the market can automate and streamline the delivery process. Thus, this trend is projected to boost the demand for delivery management software during the forecast period.
The key companies profiled in
Bringg, Deliforce Technologies Private Limited, Fareye (Roboticwares Pvt Ltd), Getswift Limited, Jungleworks, Loginext Solutions Private Limited, Mobisoft Infotech LLC, Shipox Inc., Workwave LLC, Zippiykind (Snappylead LLC). Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.
Few of the important market initiatives and product developments from the industry are mentioned below:
March, 2020 RoboticWares Pvt. Ltd raised funds from M12 RoboticWares Pvt. Ltd, which operates logistics management startup FarEye, raised around Rs 185 crore in its Series D funding round which was led by Microsoft’s corporate venture fund, M12.
Jan, 2020 LogiNext scored US$ 39 million in fresh financing round from Tiger Global and Steadview Capital LogiNext scored US$ 39 million in fresh financing round from Tiger Global and Steadview Capital. The company is expected to use the proceeds from the latest round of fund raising for expanding its presence to London, New York, and Sydney, while also doubling its workforce, through a focus on ramping up its customer success and R&D teams.
Feb, 2020 Jungleworks collaborated with PayTabs Jungleworks collaborated with PayTabs. As part of the strategic collaboration, the businesses are expected to be capable to integrate the Tookan app with the PayTabs to make online and mobile payments effectively and efficiently in 168 currencies.
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