Transportation is the economic backbone of every country. Without any regulatory framework, goods cannot be transported from one corner of the geography to the other. Transportation, or truck to be precise, enable trade and provide jobs to millions, directly or indirectly, and help companies all across the country.
However, with the changing times, the transportation industry needs to evolve too. The trucks need to be upgraded with truck dispatch software that allows fleet owners to track down the trucks in real-time. The uses do not end here, and most companies have come up with innovative solutions that fulfill the various desires of the fleet owners.
The global truck dispatch software industry hit a major high in the year 2018, and the industry is expanding at a compound annual growth rate of xx percent for the next few years. The industry is expected to reach another major milestone by the year 2025.
The truck dispatch software industry is characterized by several unique factors that have a great impact on the industry. The industry can be segmented into based on the type of software and the application of the software.
Based on type, the industry can be divided into two major categories, namely, cloud-based and on-premise solutions. The cloud-based solutions are meant for small businesses and come in modular features. This ensures that companies only get the desired services at minimal prices. On the other hand, larger businesses need on premises-based solutions that are tailored according to the desires of the corporates.
Based upon application, the industry can be segmented into large enterprises and, small and medium businesses.
Key factors affecting the growth prospects
There is a slew of factors that affect the growth prospects of the industry. Growing needs for better solutions and outdated technologies have been the major driving force for the growth of the truck dispatch software industry.
Furthermore, accountability and smooth transportation play quite a crucial role in the growth of the truck dispatch software industry. Companies now know the exact location of their fleet and its content. This makes sure that only the desired material is transported through the trucks.
However, lack of proper training and unawareness among the users or the truck owners is expected to hamper the growth prospects of the industry.
The truck dispatch software industry is already a huge hit in the developed nations like Europe and North America. Focus on efficiency and familiarity with evolving industry has helped the industry flourish in the region.
On the other hand, the Asia Pacific region plays a critical role in the growth and development of the software in the region. China and India have emerged out as the major regions for the growth opportunity. However, a lack of familiarity with modern technology solutions and a skeptic approach has been deaccelerating the growth prospects in developing nations like India.
Several companies have been working in the truck dispatch software industry. Some of the leading companies in the domain are BluJay, Linxup, Titan GPS, Verizon Expressfleet, and others. These companies know the industry inside out and know what works and what does not.
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