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Moreover, growing interest in big data, machine learning, and artificial intelligence makes the industry’s prospects bright. Indeed, the global software market is expected to grow at a 7.2% CAGR to $823.71 billion by 2026.
Therefore, we believe fundamentally sound software stocks National Instruments Corporation (NATI), Commvault Systems, Inc. (CVLT), Progress Software Corporation (PRGS), and American Software, Inc. (AMSWA) could be solid bets to cash in on the industry tailwinds. Further, our proprietary POWR Ratings system has recommended these stocks as a ‘Strong Buy’ or ‘Buy.’
