3 Top Software-as-a-Service Stocks to Buy for the Long Haul
Back in the early 2000s, most software products were installed locally on PCs. But as internet speeds improved, more companies transformed their software into cloud-based services, which could be operated remotely, continuously updated, and transformed into subscription-based services.
This "software-as-a-service" (SaaS) model is a core pillar of the cloud computing market, and it could still grow at a compound annual growth rate of 12.5% between 2021 and 2025, according to Research and Markets. To tap into that market's growth, investors should consider buying shares of Adobe (NASDAQ: ADBE), DocuSign (NASDAQ: DOCU), and Veeva Systems (NYSE: VEEV) -- which each dominate their respective SaaS markets.
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Source Fool.com
