The software applications market is thriving due to the high demand for cloud computing, which streamlines business operations with services like storage, databases, and AI products. As cloud demand grows, investors might consider robust software stocks like Intuit Inc. (INTU), Autodesk, Inc. (ADSK), and Workday, Inc. (WDAY), driving digital transformation.
Cloud computing is used by 94% of companies worldwide, fostering innovation and flexibility. Statista predicts the global public cloud computing market will expand rapidly and reach $675 billion by 2024. Alongside, the software market is expected to grow at a 5.3% CAGR from 2024 to 2028, reaching $858.10 billion.
