Freight Procurement Technology Solutions Market Share

New York (USA) – Astute Analytica’s recent report on the Global Freight Procurement Technology Solutions Market covers all the factors that will impact the market in the coming years. The report covers several sections, such as the impact of COVID-19, shareholding segments, etc. Moreover, it also presents the list of past innovations and current events to give an overview of the trends.

The Global Freight Procurement Technology Solutions Market the size was US$ 812.5 million in 2021. Global Freight Procurement Technology Solutions Market is expected to reach US$ 1,392.2 million by 2028 registering at a compound annual growth rate (CAGR) by 8% over the forecast period from 2022 to 2028.

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Factors affecting the market:

Technology retains a vital place in all industry verticals, including healthcare, automotive, construction, and more. Enterprises are leveraging cloud and service-based services to propel innovation and bring about meaningful revolution. Thus, it will drive the growth of the global freight procurement technology solutions market during the forecast period.

The growing investments in this market are expected to boost the growth of the overall market. For example, the US federal government has earmarked $58.4 billion for IT in civilian federal agencies in 2022, a 2.4% increase from 2021.

COVID-19 impact analysis:

The COVID-19 outbreak has forced many organizations to adapt to digital methods, which has rapidly accelerated digital transformation. Work environments have changed abruptly as remote work has become the new norm among organizations. As a result, it is expected to enhance the potential reach of the information technology market in the coming years. This report from Astute Analytica covers all the factors describing the impact of the pandemic.

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Regional analysis

North America is expected to become the largest shareholder in the global freight procurement technology solutions market in terms of revenue. The growth of the market is attributed to various factors, including early adoption of advanced technologies, growing investment in the industry, and growing infrastructure development. In addition, the Asia-Pacific information technology market will also witness steady growth due to increased spending by government agencies. Moreover, increasing initiatives to improve infrastructure will also drive the market forward.

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About Astute Analytica:

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SOURCE Clever Analytics