How much does it cost to develop custom logistics software?
August 29, 2023
Transport is the backbone for the global economy and a necessity in all industries. Transportation and logistics industries are always eager to adopt new technologies to streamline operations. Some transporters choose fleet management software while others opt for custom logistic software development. Both options are not without their advantages and disadvantages. We’ll discuss it later in this article
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Logistics management software refers to a wide range of software that helps T&L companies (Transportation and Logistics), deal with inbound (procurement), outbound (shipping), and goods handling (warehousing) activities. Logistics management softwares have three main goals:
Shipping efficiency can be improved
Transparency in logistics
Transport cost reduction
Customer satisfaction is important
Market Overview of Logistics Management Softwares
The logistics software market will flourish in the future thanks to new technologies like cloud computing, Internet of Things and AI. Due to new digital technologies being available at a lower cost than in the past, there is a growing demand for software solutions for logistics. Investing in logistics management tools is proving to be a valuable investment for Transportation & Logistic companies.
Researchers estimate that software solutions for logistics can save between five and ten percent on transportation costs. Transport & Logistic firms are confident that they will reap the benefits of these solutions, with the global transportation management market estimated to reach $30 billion by 2025. In 2016, the market was worth $9.6 billion and is expected to grow at a CAGR of 13.6 percent.
Statista’s report on the top global freight transport companies in 2018 (based on annual revenue) shows which companies are at the top. According to the report, transportation and logistics software was implemented by companies in order to achieve these results.