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© Reuters. Buy 2 software stocks less than $10 in July
The ongoing digital transformation and automation in almost every industry should continue to promote the development of the software industry.Given this background, we believe that low-priced stocks Rimini Street (Nasdaq:) and Evolving Systems (EVOL) may be attractive investment bets. So let’s take a closer look at these names. During the COVID-19 pandemic, the technology industry has played an important role in leading the world to the “new normal” of work, school, and entertainment. As large economies are now in a recovery period, and as large companies earnestly adopt mixed work structures, the need for digital transformation has become imperative.
With the rapid adoption of a mixed work structure, the increase in the amount of enterprise data and the growing demand for automation in almost every industry are the main growth drivers for the business software and service industries. From 2021 to 2028, the scale of the global business software and service market is expected to grow at a compound annual growth rate of 11.3%.
In recent years, the enterprise software market has boomed and revenue has increased significantly. According to Statista data, by 2021, IT spending on global enterprise software is expected to be approximately US$599 billion, a year-on-year increase of 13.2%.
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