At the end of 2020, I wrote Big Idea 2021: SaaS Companies Will Create 10 Million Jobs with the central thesis that SaaS players would evolve into PaaS to create deeper moats around their core market positions and gain access to the related force multiplier.
To recap on the assumptions:
According to a recent report, the cloud security market is estimated to grow at 18% CAGR to reach $106.02 billion in 2029 from $33.13 billion in 2022. Cloud services security provider Qualys (Nasdaq: QLYS) announced its first quarter results recently. The company continues to deliver new products, but the market is not too pleased with its overall performance.
>>>According to a recent report, the global complaint management software market is projected to grow 6% to reach $2.85 billion by 2028, from $1.8 billion in 2021. Zendesk (NYSE: ZEN) continues to deliver strong growth but is also looking at possible exit options.
>>>Chennai, India and San Mateo-based Freshworks (Nasdaq: FRSH) continues to grow rapidly as it expands its CRM offerings. The company is focusing on product innovation and recently added several new bot capabilities to drive growth.
>>>Inbound marketing specialist HubSpot (NYSE:HUBS) recently reported its first-quarter results that continued to surpass market expectations. HubSpot has been gaining its market share by expanding its product offerings.
>>>According to a recent year, the global unified communication as a service (UCaaS) market is expected to grow 13% annually from $28.96 billion in 2021 to $69.93 billion in 2028. The growth in the industry is driven by the continuing adoption of remote working conditions globally and improved API-driven capabilities. Communications PaaS player Twilio (NYSE: TWLO) recently reported its first break-even quarter.
>>>According to a recent report, the global digital experience platform market, valued at $11.7 billion in 2022, is expected to grow at 13% CAGR through 2030. San Francisco-based ON24 (NYSE: ONTF) continues to expand its presence in the market through acquisitions and product expansion.
>>>Earlier this month, Bill.com (NYSE:BILL) reported its third-quarter results that outpaced the market’s expectations driven by the addition of a record number of net new customers. The company is expanding its product portfolio to provide more services to its existing customer base.
>>>According to a recent report, GoDaddy (NYSE: GDDY) remains an undefeated leader in the web-hosting business by managing more than 44.18 million websites globally. Cloudflare comes a distant second with 12.32 million websites. GoDaddy recently announced its near-term financial plans and listed the areas of focus that will help it attain its goals.
>>>According to a recent report, the global enterprise collaboration market is expected to grow from $47.2 billion in 2021 to $85.8 billion by 2026 at a CAGR of over 12%. Atlassian (Nasdaq: TEAM) continues to expand its product offerings to take a bigger share in the market in the face of stiff competition.
>>>Tech giant Amazon (NASDAQ: AMZN) recently reported its quarterly results that failed to impress the market. Like other tech giants, the company is facing strong inflationary pressures coupled with a disturbing global political and economic climate.
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