As the spread of the Delta variant drives a resurgence of COVID-19 cases in several parts of the world, the software-as-a-service (SaaS) industry is expected to continue growing, due primarily to continued remote working. As such, we think it could be wise to scoop up the shares of quality SaaS stocks Microsoft (MSFT), Dropbox (NASDAQ:DBX), and Cloudera (NYSE:CLDR). Read on.With the Delta variant of the COVID-19 driving a resurgence in infections, several companies have already delayed their return to office schedules. For example, Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai recently extended its voluntary work-from-home policy from October 18, 2021, to January 10, 2022. This reality is expected to drive the software-as-a-service (SaaS) industry’s growth.
Furthermore, the consistent and rapid innovations in artificial intelligence (AI) and cloud computing could also help the SaaS industry grow handsomely in the coming months. According to Statista, the SaaS industry is expected to aggregate roughly $145.5 billion this year.
Given this backdrop, we think it could be wise to bet on established SaaS stocks Microsoft Corporation (NASDAQ:MSFT), Dropbox, Inc. (DBX), and Cloudera, Inc. (CLDR). Their broad portfolio of products and services and consistent innovations should help them capitalize on the industry tailwinds.