DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Route Optimization Software Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia route optimization software market was valued at US$8.188 million in the year 2020, growing at a CAGR of 10.35% reaching the market size of US$16.313 million by the year 2027.
The route optimization software is a type of software used to find the quickest and most cost-friendly route among several available routes. The optimized route is concluded based upon metrics like the number of stop locations and time taken for each delivery spot between the start and end of the route.
The Saudi Arabia market for route optimization software is projected to witness exponential growth majorly owing to the large pilgrimage growth, for the holy place of Mecca, situated in the kingdom of Saudi Arabia. Pilgrims from all over the world visiting Saudi Arabia reach the holy place via different modes of transportation, including shuttle bus service, which is projected to propel the growth of the route optimization software market in Saudi Arabia.
Also, the National Transport and Logistics Strategy launched by Saudi Crown Prince Mohammad bin Salman in 2021 is anticipated to support the growth of the route optimization software market in Saudi Arabia.
Moreover, the recent March 2022 announcement of the public bus transportation project by the Transport General Authority (TGA) is further projected to push the growth of the route optimization market in the region. Further, the rapid digital transformation of Saudi Arabia's public as well as the private sector and governmental policies on digitalization are prominent factors for the market growth of the route optimization market during the forecast period.
The COVID-19 impact on the Saudi Arabia route optimization software market was on a negative scale because of global travel restrictions, which led to a high decline in the number of pilgrims travelling to Mecca. According to the World Health Organization (WHO), the coronavirus pandemic caused the Kingdom of Saudi Arabia to cancel Umrah in March 2020.
The declining pilgrim numbers led to less transportation in Saudi Arabia, leading to a decline in the route optimization software market. Also, COVID-19 led to lockdowns in the kingdom, which led to fewer travel and logistic operations, thereby causing a hindrance in the route optimization market in Saudi Arabia.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Saudi Arabia Route Optimization Software Market Analysis, by Product
5.1. Introduction
5.2. Software
5.3. Services
6. Saudi Arabia Route Optimization Software Market Analysis, by Application
6.1. Introduction
6.2. Food Delivery
6.3. Ride-Hailing Services
6.4. E-commerce
6.5. Others
7. Competitive Environment and Analysis
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. Company Profiles
8.1. Trimble Inc
8.2. Omnitracs
8.3. Microlise Telematics Pvt LTD
8.4. Route4Me
For more information about this report visit https://www.researchandmarkets.com/r/ghl2s9
