From USD 604.3 million in 2023 to USD 1.52 billion by 2033, the multicarrier parcel management solutions software market is expected to grow at a CAGR of 9.7%.
The market has become critical during the ongoing coronavirus outbreak. The multicarrier parcel management solutions software company is expanding the availability of real-time shipment tracking and asset monitoring software by leveraging market opportunities.
As a result of volatile business activities, customers are hesitant to invest in multicarrier parcel management solutions software, limiting the market growth.
As a result, during the COVID-19 outbreak, an increase in the number of ecommerce start-ups has kept the market for multicarrier parcel management solutions software afloat.
The ability for shippers to have exclusive access to dashboards, reports, and other important measurements that allow for fair business decision-making is one of the major factors driving the multicarrier parcel management solutions software market.
Furthermore, by increasing the adoption of multicarrier parcel management solutions software among SEM companies, the adoption of multicarrier parcel management solutions software is expected to boost the market share of the multicarrier parcel management solutions software.
| Attributes | Details |
|---|---|
| Multicarrier Parcel Management Solutions Software Market CAGR (2023 to 2033) | 9.7% |
| Multicarrier Parcel Management Solutions Software Market Size (2023) | USD 604.3 million |
| Multicarrier Parcel Management Solutions Software Market Size (2033) | USD 1.52 billion |
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The market is rushing to implement digital technologies as a way to streamline operations, create smarter ships and fleets, and better prepare for future challenges.
As consumer demand for multicarrier parcel management solutions software grows, global supply chains are growing and becoming more complex. The increased demand for products, ingredients, and raw materials directly impacts the environment.
Market players must implement new ways to streamline their supply chain and optimize productivity in today's highly competitive market.
End users can easily organize inventory data digitally, monitor and manage to track information, and create electronic invoices using multicarrier parcel management solutions software that incorporates cutting-edge technologies like AI, Big Data, and Analytics.
Multicarrier parcel management solutions software companies can save time and money by reducing the time spent shipping, receiving, tracking, and compiling order data.
Furthermore, more stringent environmental requirements continue to shape the transportation sector as transporters strive to maintain service levels while lowering costs and ensuring operational sustainability. This positively influences the multicarrier parcel management solutions software adoption trends.
As several countries have extended trade protection and changed policies regarding shipping, rising trade tensions between nations is one of the major factors limiting the market growth.
This has had an impact on the market for multicarrier parcel management solutions software digital transformation. Furthermore, rising trade tensions are stifling global trade and activity, which is stifling the market for multicarrier parcel management solutions software and opportunities.
Furthermore, the risks of trade tensions escalating and a broader reversal of globalization have clearly increased, affecting global consumption and employment. This is expected to have an impact on investment around the world, obstructing the resilience of global trade momentum. As a result, an increase in country-to-country conflict of interest could have a negative impact on the multicarrier parcel management solutions software market.
Principal Consultant
Companies in the multicarrier parcel management solutions software market have prioritized simplifying all aspects of multicarrier parcel management solutions software through enterprise-level tools.
On the same lines, startups are gaining traction, as their robust transportation management system aids in the multicarrier parcel management solutions software of same-day shipping and other business processes.
As a result, platforms that provide a single login for all logistics management, including inbound and outbound freight across parcel, ocean, and international air, are becoming increasingly popular, influencing the multicarrier parcel management solutions software market outlook.
Companies in the multicarrier parcel management solutions software market are creating platforms that allow users to connect with all shipping carriers and print labels with a single click. They offer solutions for managing pricing and stock levels across all sales channels from a single platform, an emerging market trend.
Stakeholders in the market are developing platforms that make bulk ordering, return form printing, and invoice printing a breeze which is an emerging trend in multicarrier parcel management solutions software market.
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| Regions | CAGR (2023 to 2033) |
|---|---|
| United States | 17.9% |
| United Kingdom | 8.5% |
| China | 10.4% |
| Japan | 5.2% |
| North America | 31.2% |
Due to rapid urbanization, increased online business, and rising adoption of multicarrier parcel management solutions software and new technologies such as robotics, artificial intelligence, machine learning, Internet of Things, Blockchain, and drones, the multicarrier parcel management solutions software has a presence in all regions including North America, Europe, and the Asia Pacific.
The adoption of multicarrier parcel management solutions software increases its efficiency in delivering parcels and goods.
This factor aided multicarrier parcel management solutions software expansion in all regions. The multicarrier parcel management solutions software market growth is fueled by increased spending capacity and online business.
The United States’ multicarrier parcel management solutions software market is expected to grow with a CAGR of 17.9% over the forecast period. The explosive growth of E-commerce companies in the United States is the main driving force behind the market expansion.
Major E-commerce companies, such as Amazon and Flipkart in India and Alibaba in China, use multicarrier parcel management solutions software to manage their global supply chains.
North America is anticipated to have the second-largest multicarrier parcel management solutions software market share due to its early adoption of it.
New market research report on multicarrier parcel management solutions software shows that the legacy players in the 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 is likely to boost the market for multicarrier parcel management solutions software along with the adoption trends.
Centiro, ConnectShip, Inc., MetaPack, ProShip, Inc., and Pitney Bowes Inc. dominate the multicarrier parcel management solutions software market.
Recent Development in the Multicarrier Parcel Management Solutions Software Market:
Key Players
The market is expected to generate revenue of USD 604.3 million in 2023.
Surging adoption of technology-related items is driving software sales.
The heightened adoption of cloud technology is generating new market opportunities.
The evolution of Big Data Technology and IoT is setting the pace of the market’s future.
North America has a sizeable market share.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment 5.1. Cloud Based 5.2. On-Premise 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Organization Size 6.1. Large Enterprises 6.2. SMEs 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Centiro 17.2. ConnectShip, Inc. 17.3. MetaPack 17.4. ProShip, Inc. 17.5. Pitney Bowes Inc. 17.6. ShipHawk 17.7. Logistyx Technologies, LLC 17.8. nShift 17.9. Transtream 17.10. SendPro 18. Assumptions & Acronyms Used 19. Research Methodology
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Multicarrier Parcel Management Solutions Software Market
