Freight Procurement Software Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Freight procurement solutions provide freight automation by comparing different carrier types, mode, capacity, and services offered by logistics partners on a single. Freight procurement solutions are required by companies who outsource their freight transportation services. Freight sourcing is a long and complex process, which includes obtaining rates from multiple carriers, comparing the best carrier option offering the best prices, and analyzing the quality services along with the time required for freight delivery. Freight procurement solutions ensure best supply chain and logistics partners at lowest cost.
Increased complexity in the supply chain process due to growing international trade is one of the most important factors fueling the demand for freight procurement solutions.

MARKET SCOPE

The "Global Freight Procurement software market Analysis to 2031" is a specialized and in-depth study of the Freight Procurement software market with a special focus on the global market trend analysis. The report aims to provide an overview of the Freight Procurement software market with detailed market segmentation by deployment, component, industry vertical, and geography. The global Freight Procurement software market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Freight Procurement software market players and offers key trends and opportunities in the Freight Procurement software market.

MARKET SEGMENTATION

• The global Freight Procurement software market is segmented on the basis of component, deployment, and enterprise size, and industry vertical.
• On the basis of component, the market is segmented as software, services.
• On the basis of deployment, the market is segmented as on-premise, and cloud. 
• On the basis of industry vertical the market is segmented into BFSI, retail, FMCG, manufacturing, food and beverages and others.

MARKET DYNAMICS

Drivers 

• Continuous increase in transportation cost projected to drive the demand for freight procurement solutions.
• Complexity of operations in supply chain management to fuel the demand for freight procurement solutions

Restraints

• Lack of knowledge about its usage by small companies is expected to restrain the market growth

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Freight Procurement software market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Freight Procurement software market in these regions.

IMPACT OF COVID-19 ON Freight Procurement software MARKET 

The rapid spread of the Covid-19 pandemic has triggered a massive financial crisis and created a health crisis across the globe. The ongoing pandemic also had a significant impact on overall international trade and businesses. The outbreak of COVID-19 has slowed down the growth of the Freight Procurement software market owing to challenges in maintaining operational continuity, securing network data, and adapting to new traffic patterns. Organizations have actively focused on understanding the function of automation in digital transformation due to the pandemic. Moreover, enterprises also learn to measure the Return on Investment (ROI) as compared to other competing initiatives. These factors are expected to have a significant effect on the market over the coming years.

MARKET PLAYERS

The report covers key developments in the Freight Procurement software market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Freight Procurement software market are anticipated to lucrative growth opportunities in the future with the rising demand for the Freight Procurement software market in the global market. 
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Freight Procurement software market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

• Freight Procurement
• Alpega Group
• Blue Yonder
• Coupa
• EC Sourcing Group
• Enterprise System Solutions Pvt. Ltd.
• Freightos
• FreightPOP
• Jaegger
• MercuryGate International, Inc.

The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Freight Procurement Software Report Scope