Worldwide Public Cloud Services Market Could Exceed $257 Billion in 2020

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Nov. 19, 2020 /PRNewswire/ --  One of the few success stories during the pandemic, is the increased usage of cloud based services and programs, which resulted in increased revenues for the cloud software as a service (SaaS) market. Sometimes referred to as "on-demand software", SaaS is a software distribution model where the service provider hosts the application at a data center for customers to access via the internet. By subscribing to the service, customers no longer need to maintain the hardware or other resources that were previously required, and instead can access the software simply via a client program or web browser. Human capital management (HCM) software, collaboration software and customer relationship management (CRM) software are among the applications where public cloud SaaS has a high penetration rate. In fact, several reports predict sustained growth in the market. A report from Statista said that the global public cloud software as a service (SaaS) market is forecast to reach 157 billion U.S. dollars in size in 2020, more than doubling the market size in 2014. Together with platform as a service (PaaS) and infrastructure as a service (IaaS), SaaS if one of the three main categories of cloud computing. Another report from Gartner said that The worldwide public cloud services market is forecast to grow 6.3% in 2020 to total $257.9 billion, up from $242.7 billion in 2019.  Active Companies in the industry include The OLB Group, Inc. (NASDAQ: OLB), Salesforce [NYSE: CRM], Workday, Inc. (NASDAQ: WDAY), Cloudflare, Inc. (NYSE: NET), Twilio (NYSE: TWLO).

Gartner said that: "Desktop as a service (DaaS) is expected to have the most significant growth in 2020, increasing 95.4% to $1.2 billion. DaaS offers an inexpensive option for enterprises that are supporting the surge of remote workers and their need to securely access enterprise applications from multiple devices and locations. "When the COVID-19 pandemic hit, there were a few initial hiccups but cloud ultimately delivered exactly what it was supposed to," said Sid Nag, research vice president at Gartner. "It responded to increased demand and catered to customers' preference of elastic, pay-as-you-go consumption models."

The OLB Group, Inc. (NASDAQ: OLB) BREAKING NEWS:  OLB's CrowdPay Facilitates SMB Crowdfunding Under New SEC Rules - Increased Limits for Capital Raises and Investment Open Opportunities for SMBs Seeking Investment for Business Growth -  The OLB Group, Inc., a provider of cloud-based omnicommerce and payment acceptance solutions and secure investment vehicles for small- and mid-sized merchants, announced its CrowdPay cloud funding platform for issuers and broker-dealers simplifies capital raise activities for small- and medium-sized businesses in compliance with recently updated Securities and Exchange Commission (SEC) rules.

CrowdPay is a scalable turnkey software platform for equity crowdfunding. The solution includes an intuitive website builder, support for mobile and all computer platforms, integrated investor accreditation, ID verification, payment options, and online escrow capabilities to address the needs of nearly any fundraise activity. With built-in Compliance Platform Technology, CrowdPay includes forms, digital signature support, and integration with multiple third-party applications and services.

The platform enables investors and businesses to participate in fundraising activities in accordance with the SEC's recent rule change to expand access to capital for small- and medium-sized businesses and entrepreneurs. Under the amended rules, crowdfunding campaign raise limits have increased from $1.07M to $5M and amended investment limits for individual investors to (i) remove the investment limits completely for accredited investors and (ii) use the greater of their annual income or net worth when calculating their investment limits for non-accredited investors.  These relaxed limitations will enable broader investment participation by interested parties.

"The SEC's recent rule changes can help small businesses substantially improve their ability to quickly raise capital," said Ronny Yakov, chief executive officer of OLB. "The CrowdPay platform is well positioned to help Broker-Dealers create and manage crowdfunding campaigns for businesses from start to finish."  CrowdPay is SEC, Financial Industry Regulatory Authority (FINRA), and Broker-Dealer compliant for Reg A+, Reg D 506(b) & 506(c), Regulation Crowdfunding, U.S. Intrastate, and International compatible.  To learn more about CrowdPay from OLB, please visit https://crowdpay.us/.    For more information about The OLB Group, please visit http://www.olb.com and http://www.olb.com/investors-data

Other recent developments in the tech industry include:

Salesforce [NYSE: CRM] recently announced a significant expansion of Work.com to help companies get back to growth and thrive in the new normal. New products include an employee workspace and helpdesk to boost productivity, and communication apps that inform customers and employees about new policies and procedures to foster safer in-person experiences.

Work.com is already being used by cities, states, and companies around the world—including University of Kentucky, Ohio State University, and Siemens—to help make their workplaces and communities safe, with technology for employee wellness, shift management, manual contact tracing, and more. Salesforce recently introduced Work.com for Vaccines to help governments and healthcare organizations more safely and efficiently manage vaccine programs at scale. Now, Salesforce is expanding Work.com to give companies new technology and resources to help them operate in today's new normal and get back to growth.

Workday, Inc. (NASDAQ: WDAY) recently announced it has been named a Leader in the Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises. Workday was recognized as a Leader for the fifth consecutive year and positioned the highest for overall Ability To Execute.

Now more than ever, businesses are relying on Workday Human Capital Management (HCM) to respond to rapidly changing conditions—whether they stem from COVID-19, a renewed focus on belonging and diversity, or a shifting business landscape. More than 7,700 customers, including Club Med, Dow Chemical, The Home Depot, Humana, Mastercard, Tokyo Electron, and Wegmans, use Workday not only to manage through change but also to quickly adapt and thrive in a changing world.

Cloudflare, Inc. (NYSE: NET) recently announced that Paris, France, will be the home of its fourth office in Europe, to further support its growing European operations. Paris represents a growing Cloudflare team and presence in Europe, following the company's European headquarters in London, and offices in Munich, Germany and Lisbon, Portugal. Cloudflare's Paris-based team will help the company grow brand awareness, support and acquire customers, and recruit new talent. As part of the announcement Cloudflare is welcoming its first Head of France, Boris Lecoeur, a seasoned regional leader with more than two decades of industry experience in software and technology, who will lead this new office and team.

"France is home to the seventh largest national economy, and Europe's greatest concentration of Fortune Global 500 companies. This has always been an important region for us, and Paris is home to one of the first European data centers we turned on, nearly a decade ago," said Matthew Prince, co-founder and CEO of Cloudflare. "With a team based in Paris, we're committed to this growing business landscape, being closer to our customers as well as expanding our business in the region."

Twilio (NYSE: TWLO) recently announced the successful completion of its previously announced acquisition of Segment, the market-leading customer data platform. This transaction is valued at approximately $3.2 billion in Twilio Class A common stock, on a fully diluted and cash free, debt free basis.

"Nearly every company is focused on acquiring, retaining and growing their customer relationships through digital engagement," said Jeff Lawson, co-founder and CEO of Twilio. "However, the biggest impediment to great digital engagement are the data silos that prevent companies from truly understanding their customers. With the addition of Segment, Twilio's Customer Engagement Platform now enables companies to both understand their customer, and engage with them digitally -- the combination is key to building great digital experiences."

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