The global shipping software market is projected to grow at a CAGR of 8.4% during the forecast period. The market grew owing to the increased adoption of software as it assisted shipping and logistics players to improve the supply chain management efficiency through automated systems. The software also facilitated the supply chain players to improve profitability through smart management and route optimization thus reducing cost per shipment. This has helped supply chain department move to profit-centric from cost centric.
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Further, the growing imports and exports across the globe have led to many regulatory bodies such as trade associations, customs, terminals, and forwarders & carriers to lay strict rules and regulations. Owing to this, processing a shipment has become complex and the old traditional paper-based systems have fallen short. Thus, this gave an opportunity for shipping software to capitalize as they are easy to use and offer all in one solution. Thus, many supply chain players adapted to shipping software driving the growth of the global shipping software market during the forecast period.
Cloud-based software deployment is projected to dominate the global shipping software market by 2025. Trends such as artificial intelligence, big data & predictive analysis are expected to surge in demand during the forecast period. These trends will look to leverage the cloud services as a large amount of data will be generated which would require safe storage, thus driving the growth of the segment in the global shipping software market. Pay-as-you-go model, software scalability, geographic reach and ease of deployment along with few others are the advantages of cloud deployment over on-premise is thus boosting its demand, driving the growth of the global shipping software market by 2025.
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Land, In-house/Other application is projected to continue its dominance in the global shipping software market by 2025. The explosive growth of the E-commerce industry in regions such as North America and the Asia Pacific is expected to drive the growth of the segment in the global shipping software market. Big giants such as eBay, Google and Amazon are developing dedicated in-house delivery systems and transportation capabilities. For instance, the Global Supply Chain by Amazon the international supply chain is an in-house system that is projected to cut down the delivery time for the customers of Amazon. Thus, this is driving the In-house segment`s growth in the global shipping software market.
Asia Pacific is projected to grow with the fastest CAGR of 9.4% during the forecast period in the global shipping software market. The explosive growth of the E-commerce players in the region is the main driving force of the growth. For instance, Alibaba in China and Amazon and Flipkart in India are major E-commerce players who are using shipping software to manage their international supply chain. North America is projected to be the second largest region in the global shipping software market during the forecast period.
The players that are projected to make an impact in the global shipping software market are MetaPack Official, Interruptive, Inc., ProShip, Temando Pty Ltd, Consignor Group, WiseTech Global, Ordoro, Stamps.com, Agile Network, LLC, ProcessWeaver Shipping Solutions, Pitney Bowes Inc and iInterchange Systems. The players in the global shipping software market are focused on deploying the latest version of the shipping software for their clients to fortify their market position. Mergers and acquisitions is a strategy adopted by players in the global shipping software market. For instance, in 2018, Stamps.com a player in the market acquired MetaPack Ltd. The aim of the acquisition is to develop multi-carrier enterprise-level software for e-commerce retailers and brands.
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Segment Overview of Global Shipping Software Market
Deployment Overview, 2015-2025 (USD Million)
Application Overview, 2015-2025 (USD Million)
Regional Overview, 2015-2025 (USD Million)
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