According to a Global Market Insights report, the global video conferencing market is estimated to grow more than 10% annually to $20 billion by 2024. The growth is driven by continued globalization of organizations and the adoption of remote workplaces by organizations. Recently, Zoom, a Billion Dollar Unicorn in the industry, announced its plans to go public.
Last year, Hadoop services providers Cloudera (NYSE: CLDR) and Hortonworks merged under the Cloudera umbrella. The $5.2 billion merger was completed earlier this year. The combined entity announced its first quarterly performance since the merger that surpassed market expectations, but the outlook was weak.
According to a P&S Market Research report, the Global electronic health record (EHR) market is estimated to grow to $30.4 billion by 2023 driven by the increasing need for advanced healthcare information systems, growing investments by healthcare IT players, rising demand for better healthcare facilities, and increasing government initiatives. Boca Raton-based Modernizing Medicine is one of the leading EHR vendors in the country.
According to Market Research Future, the Indian online food ordering market is expected to grow at a CAGR of 16.2% to $17.02 billion by 2023 driven by the rising number of logistics providers. A rising trend in the sector is the cloud kitchen model, which is being adopted by restaurants, delivery companies, and even cab services. A rising cloud kitchen player is Rebel Foods, which was earlier known as Faasos. >>>
According to a recent report, the global computer graphics design software market is estimated to grow at 6.5% annually to reach $280.15 billion by 2025. While the industry has big names like Adobe Illustrator and Adobe Photoshop as the leading players, startups like Billion Dollar Unicorn Canva are also making their presence felt.
A recently published Gartner Magic Quadrant report estimates that within the next three years, 90% of IT leaders will no longer purchase premises-based unified communications infrastructure, compared with nearly 50% in 2018. In the next three years, cloud-based communications offerings are expected to dominate the market due to their functionality, features, analytics, and dashboarding capabilities. The report puts RingCentral (NYSE:RNG) as the leader of this phenomenon.
Identity access management company Okta (Nasdaq: OKTA) recently announced stellar fourth quarter results. Its record performance for the quarter outpaced market expectations. However, the market wasn’t impressed with its weak earnings outlook and the stock fell 10% following the results.
According to Industry Reports, Global Project Management Software Market is expected to grow from $2.3 billion in 2007 to $7 billion by 2026 at a CAGR of 14.93%. Basecamp is a mostly bootstrapped business that provides cloud-based project management and collaboration systems to small businesses. >>>