At a compound annual growth rate (CAGR) of 9.7%, the multicarrier parcel management systems software market is projected to grow from US$ 604.3 million in 2023 to US$ 1.52 billion by 2033.
The market is currently in a disastrous position as a result of the continuing coronavirus epidemic. The supplier of multicarrier parcel management solutions is expanding the availability of its software for real-time asset tracking and shipment tracking by seizing market possibilities.
Due to inconsistent company activity, consumers are hesitant to spend money on multicarrier parcel management solutions software, which is limiting market growth.
Thus, a rise in e-commerce start-ups has helped to sustain the multicarrier parcel management solutions software industry during the COVID-19 pandemic.
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Consequently, an extension in the amount of online business new organizations during the COVID-19 eruption is keeping multicarrier parcel management solutions software market above water.
One of the primary contemplations driving the multicarrier parcel management solutions software market improvement is the limit with regards to carriers to have prohibitive induction to dashboards, reports, and other critical assessments that consider fair business heading.
Also, the gathering of multicarrier parcel management solutions software should help the multicarrier parcel management solutions software market share by growing the association of multicarrier parcel management solutions software among SEMs associations.
Key Takeaways:
- The multicarrier parcel management solutions software market in the United States is expected to reach US$ 467.3 million by 2032, growing at an annual rate of 8.7%.
- By 2032, the multicarrier parcel management solutions software market in the United Kingdom is expected to be worth US$ 58.8 million, growing at an annual rate of 8.2%.
- China’s multicarrier parcel management solutions software market is expected to reach US$ 90.9 Million by 2032, with a CAGR of 8.4% through 2032.
- The multicarrier parcel management solutions software market in Japan is expected to be valued US$ 76.6 Million by 2032, expanding at an 8.5% annual rate through 2032.
- South Korea is expected to reach a market size of US$ 54.5 Million in multicarrier parcel management solutions software by 2032, with a CAGR of 8.3% through 2032.
- The multicarrier parcel management solutions software market’s cloud based segment from the deployment category is predicted to develop at a CAGR of 8.9% through 2032.
- Through 2032, large enterprises sector in the multicarrier parcel management solutions software market’s organization site category will grow at a CAGR of 9.1%.
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Competitive Landscape:
New market research report on multicarrier parcel management solutions software shows that the legacy players in the multicarrier parcel management solutions software market are concentrating on delivering solutions that meet specific needs, such as the installation of various technologies and the update and extension of current systems that will boost the multicarrier parcel management solutions software market key trends & opportunities.
The multicarrier parcel management solutions software market is dominated by Centiro , ConnectShip, Inc. , MetaPack , ProShip, Inc. , Pitney Bowes Inc.
Recent Development in the Multicarrier Parcel Management Solutions Software Market:
Acquisition:
- ShipTrack, a cloud-based mobile resource management and multicarrier parcel management solutions software, was acquired by Descartes Systems Group in November 2020.
Product Launches:
- The Descartes Systems Group, Inc. launched an Internet-based transportation management system in August 2020. (e-TMS). Transport order management, multi-modal carrier assignment, multi-modal rating engine, rate shopping, load tendering, and integrated invoicing accounting capabilities are all available through E-TMS.
- Pitney Bowes, Inc. will launch SendPro+ shipping solutions in July 2020. With this shipping and mailing solution, businesses can choose the best Royal Mail and Parcelforce Worldwide option for each parcel and letter.
- Metapack launched Metapack Returns in February of this year. Pre-printed return labels, a platform for branded returns, and a solution for international returns are all included in Metapack Returns. The launch would demonstrate Metapack’s commitment to improving its customers’ post-purchase experience.
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What is the COVID-19 Impact on the Multicarrier Parcel Management Solutions Software Market?
As businesses shift their focus away from multicarrier parcel management solutions software market growth and multicarrier parcel management solutions software market key trends and opportunities and toward implementing drastic measures to mitigate the impact of the COVID-19 pandemic on the multicarrier parcel management solutions software market
Businesses have already begun their efforts to return to normalcy, but they are facing numerous multicarrier parcel management solutions software market challenges. The COVID-19 outbreak has put the multicarrier parcel management solutions software market in the worst possible situation in a short amount of time, as the workforce in these sectors has been shut down for the sake of safety and preventing the pandemic from spreading.
The multicarrier parcel management solutions software market operations have been hampered by such obstructed operations. During these pandemic times, there were multicarrier parcel management solutions software market challenges.
What is the Segmentation Outlook of the Multicarrier Parcel Management Solutions Software Market?
The multicarrier parcel management solutions software market has been divided into three categories deployment mode, organisation size, and region.
The multicarrier parcel management solutions software market has been divided into on-premise and cloud deployment modes.
The multicarrier parcel management solutions software market has been divided into SME and large enterprise segments based on company size.
Key Segments
By Deployment:
- Cloud Based
- On-Premise
By Organization Size:
- Large Enterprises
- SMEs
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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