Earlier this week, Salesforce.com (NYSE: CRM) announced its fourth quarter results. While the company outpaced market expectations for the quarter, its weak outlook has sent the stock falling. In the after hours trading session, its stock slipped 3%.
According to a Zion market research report, the global healthcare cloud computing market is estimated to grow 19% annually over the next few years to $61.84 billion by 2025 from $18.85 billion in 2018 driven by the continued adoption of IoT, wearable devices, and big data analytics in the healthcare sector, and the continued demand for regulatory compliance. Pleasanton, California-based Veeva (NYSE: VEEV) recently announced its quarterly results that continued to benefit from this rapid growth.
According to a MarketsAndMarkets report, the cloud backup market is expected to grow at a CAGR of 26.1% from $1.30 billion in 2017 to $4.13 billion by 2022. A leading player in the space is data protection solutions provider Druva that recently made its first acquisition. >>>
It is tax season and initial reports suggest that there may be a slowdown in the e-filings. According to the IRS data through February 8th, the total e-filed returns fell 7.1% and assisted e-files fell 12.5% over the year. The new tax legislation and the extended partial government shutdown is expected to have impacted consumer behavior. But the slowdown has not stopped Intuit’s (NASDAQ: INTU) stock from soaring to a record high post its second quarter results announcement.
According to a research report by WARC and Moore Stephens, the global MarTech budgets have grown 44% last year to $99.9 billion with about 23% of marketing budgets now spent on MarTech in the UK and North America. Billion Dollar Unicorn HubSpot (NYSE:HUBS) continues to see rapid adoption of its services as well.
According to a Market Research Engine report, the global Identity and Access Management Market is expected to grow 12% over the next few years to $14.5 billion by 2021. Denver, Colorado-based Ping Identity is a leading player in the segment that has had an interesting run so far.
According to a report published by Transparency Market Research, the global accounting software market is estimated to grow from $5.7 billion in 2017 at nearly 9% annually over the next few years to $11.8 billion by 2026. Xero (ASX:XRO) is a leading player from New Zealand, which is making its presence felt in the industry.
According to ASSOCHAM, India spends around 14.4% of its GDP on logistics and transportation as compared to less than 8% spent by the other developing countries. The Indian logistics sector is set to reach $307 billion by 2020. In India, road freight accounts for around 63% of the total freight movement across the country. Gurugram-based Rivigo is a logistics startup that utilizes data and technology to make logistics human, faster, safer, and cost-effective. >>>