A report from MarketsAndMarkets noted that the global cloud computing market size is forecasted to grow from USD $371.4 billion in 2020 to USD $832.1 billion by 2025. Covid-19 put a heavier reliance on tech with cloud computing as one of the sub-sectors benefiting from the pandemic.
“During the present global pandemic crisis, many companies (and governmental agencies) are utilizing cloud computing software services room booking services,” a PR news release said. “Meeting arrangement is considered as a routine activity in organizations, yet in these times, it can become problematical and time-consuming if there is not an efficient booking process.”
“Meeting organizers are tasked with gathering a group of executives together at the same time and place in a safe manner,” the release added. “This may involve communicating back and forth with attendees via email or phone. Fixing a corporate meeting can be thus, a tedious job. It requires multi-tasking wherein the organizer needs to focus on various factors such as making bookings for the meeting rooms and arranging a projector, and other audio-visual gadgets. According to Research Reports the Meeting Room Booking System Software market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.”
Getting Cloud Exposure via ETFs
One exchange-traded fund to look at is the Global X Cloud Computing ETF (Nasdaq: CLOU). Seeking to track the Indxx Global Cloud Computing Index, the fund holds a basket of companies that potentially stand to benefit from the continuing proliferation of cloud computing technology and services.
The cloud computing industry refers to companies that (i) license and deliver software over the internet on a subscription basis (SaaS), (ii) provide a platform for creating software applications which are delivered over the internet (PaaS), (iii) provide virtualized computing infrastructure over the internet (IaaS), (iv) own and manage facilities customers use to store data and servers, including data center Real Estate Investment Trusts (REITs), and/or (v) manufacture or distribute infrastructure and/or hardware components used in cloud and edge computing activities.
Another fund to consider is the WisdomTree Cloud Computing Fund (WCLD). The fund seeks to track the price and yield performance of the BVP Nasdaq Emerging Cloud Index, which is designed to track the performance of emerging public companies primarily involved in providing cloud computing software and services to their customers. It is non-diversified.
For more market trends, visit the ETF Trends.