Skip to content

7 Cloud Computing Stocks To Buy For Digital Transformation

Thanks to the proliferation of cloud computing stocks and their underlying technologies, it’s easy to take the segment for granted. However, these enterprises undergird the digital transformation – that is, the integration of computer tech across all facets of society. We’re not quite there yet. However, with advancements in various digitalization solutions – including artificial intelligence – it’s probably only a matter of time.

Indeed, Grand View Research reminds us that the global digital transformation market size reached a valuation of $731.13 billion in 2022. Moreover, its analysts project that the sector will witness a compound annual growth rate (CAGR) of 26.7% from this year to 2030. By the end of the forecasted period, the industry may generate total revenue of nearly $4.62 trillion. That’s a major economy in and of itself. Therefore, investors should seriously consider adding these cloud computing stocks to their portfolios.

This post appeared first on InvestorPlace.