- The Global shipping software market is projected to reach at $21.56 billion in 2027.
- The market is growing at a CAGR of 13.2% between 2019 and 2027.
- The global shipping software market is primarily driven by the growing e-commerce businesses across the globe.
Shipping software is a solution that offers the real time access to all the detailed information of shipments. It gives the on-time status i.e. the track of delivery, delivery status, customer information, etc. The software also makes possible the supply chain players to progress profitability by smart management and thus dropping cost per shipment. Therefore, this solution aids to supply chain department to gain higher profit margin. Growing import export trading industry is also projected to boom the shipping software market over the forecast period.
The global shipping software market is primarily driven by the growing e-commerce businesses across the globe. The healthy economies are likely to lead to more consumers spending. Growing GDPs specially countries such as China, India, Brazil, Mexico, etc. are expected to fuel the consumers spending which in turn, is expected to boom the market of shipping software over the forthcoming years. Moreover, surging demand for cloud based solutions is predicted to set new avenues to the shipping software market within in the forecast period.
The global shipping software market is classified into type, application and regions. Web-based, installed are the major deployment type of the global shipping software market. Air & Ocean Forwarding, CEF, Contract Logistics and Others are the major applications of the global shipping software market. North America, South America, Europe, Asia Pacific, and Middle East and Africa are the major region covered in the global shipping software market.
Air & ocean forwarding, CEF, contract logistics and others are the major application of the global shipping software market. CEF is the largest segment of the global shipping software. It accounted for around 40% share of the entire market. Growing CEF services across the globe along with the spur in the digitization globally are the major factors for the lucrative growth in the shipping software market. Moreover, CEF is also expected to be the fastest growing segment of the market during the years to come. Air & ocean forwarding was the second largest application segment of the market in 2018. Furthermore, air & ocean forwarding is likely to witness explosive growth over the upcoming years.
Pitney Bowes, Metapack, Temando, Stamps.com, WiseTech Global, ProShip Inc., Logistyx Technologies, Malvern Systems, ShipHawk, Epicor Software Corporation, Pierbridge, ReadyCloud, LLC, Shippo, Teapplix, Ship Solutions, V-Technologies and others are the some major players of the global shipping software market