Bet On These 6 Internet Software Stocks To Gain In 2019
Zacks Investment Research | Mar 12, 2019 08:34AM ET
Internet software stocks have been benefiting from continued demand for digital transformation among enterprises, which are rapidly adopting Software-as-a-Service (SaaS) delivery model over traditional on-premise infrastructure.
In fact, per Gartner, global IT spending is projected to be up 3.2% in 2019 to $3.8 trillion, driven by enterprise software, cloud and digital-transformation efforts. Enterprise software spending, which is likely to experience highest growth of 8.3% in the current year, is being driven by SaaS, adds Gartner.
Rapid adoption of SaaS, which offers a flexible and cost-effective delivery method of applications, has also been favoring growth prospects of industry players. It also cuts down on the deployment time when compared to legacy systems.
Additionally, the rising need to secure cloud platforms, amid growing incidences of cyber attacks and hacking, continues to spur demand for web-based cyber-security software. Further, growing internet penetration across emerging markets, including Asia, Africa, among others, boosts the long-term prospects of the companies involved.
Notably, Internet ETFs like First Trust Dow Jones Internet ETF Original post
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