Shipping Software Market to Reach USD1.9Bln by 2024
The global Shipping Software market is valued at 1160 million in 2018 and is expected to reach 1880 million by the end of 2024, growing at a CAGR of 8.3% between 2019 and 2024.
The shipping software market stands tall as one of the most proactive industry verticals, claims a study by Market Study Report LLC. The study forecasts this space to accrue substantial proceeds by the end of the projected period, aided by a plethora of driving forces that will fuel the industry trends over the forecast duration.
A gist of these driving factors, in tandem with myriad other dynamics pertaining to the shipping software market, such as the risks that are prevalent across this industry as well as the growth opportunities existing in Shipping Software market, have also been outlined in the report.
"Shipping software will help you reduce costs and automate your shipping processes with quick carrier cost and service comparisons, shipping label and document printing and delivery tracking," it said.
End-users of shipping software can be segmented into four types: CEP, Air & Ocean forwarding, Contract Logistics Land, In-house and others. Land and In-house/Other takes a bigger market size of about 56% of total global share in 2017, and CEP segment is the fast growing downstream user group in the world at present.
Currently, the market concentration rate is very low. Regional characteristics of products are obvious.
Leading international players include Pitney Bowes, Metapack, Temando, Stamps.com, WiseTech Global and some others. Pitney Bowes, Stamps.com, ADSI, ReadyCloud, LLC., Shipwire and Metapack are major players in USA market, Metapack, Pitney Bowes, WiseTech Global, Temando, Shipwire are well-known shipping software players in Europe market. There are many small local players spread in each separate countries, to meet the needs of local logistic system.