Published on 20 Oct 2024 on Insider Monkey · via Yahoo Finance
ServiceNow Inc. (NOW): This High Growth Software Stock Is Profitable In 2024
We recently compiled a list of the 8 High Growth Software Stocks That Are Profitable In 2024. In this article, we are going to take a look at where ServiceNow Inc. (NYSE:NOW) stands against the other high growth software stocks.
The Software Industry: An Analysis
The software market is experiencing robust growth, driven by various trends and technological advancements. According to Precedence Research, the global software market size reached $659.17 billion in 2023. Looking forward, the market is expected to grow at a compound annual growth rate (CAGR) of 11.8% during 2024 - 2034 to reach $2.24 trillion by the end of the forecast period. In 2023, the North American region led the software market, holding a substantial share of 44%. The Asia-Pacific region is expected to witness significant growth during the forecast period.