The use of cloud-based subscription software is increasing rapidly. Analysts expect the global public cloud services market to expand at a CAGR of 16.4% between 2020 and 2027 (source: Allied Market Research, 2020).
The global fourth-party logistics (4PL) market was estimated to be valued at $57.65bn in 2019 and is projected to reach $84.43bn by 2026, expanding at a CAGR of 5.5% between 2019 and 2026 (source: Globe Newswire, 2021).
Implementation of technologies in existing products and service lines, and government initiatives in relation to insurance policies are providing insurance brokerage firms with lucrative opportunities for growth.
The outlook of the commercial property leasing market remains uncertain in the wake of the Covid-19 pandemic. The demand for office space has been severely affected by social distancing, lockdowns, quarantines, redundancies and remote working.