Technology Brief: Is the Software Development Industry in the Midst of a Multi-year Renaissance

PALM BEACH, Florida, Aug. 21, 2019 /PRNewswire/ -- In recent years, a few individuals on wall street have indicated one of the best performing sectors with the highest growth has emerged from the technology sector, which includes software development. Even though some tech sectors have experienced up and downs with market volatility, impressive revenues and steady earnings remain the story for some top tech companies. Industry professionals have indicated the software development arena could just be in the midst of a multi-year renaissance resulting in a bullish belief the demand environment for the industry has a bright future. Morgan Stanley, which recommends several stocks including cybersecurity vendor Palo Alto Networks and CRM leader Salesforce, suggests that, "demand behind strategic digitalization efforts should prove durable even in a slowing macro environment, supporting growth for well positioned software vendors." Active companies in the markets this week include International Business Machines Corporation (NYSE: IBM), Versus Systems Inc. (CSE: VS) (OTCQB: VRSSF), Salesforce.com, Inc. (NYSE: CRM), Microsoft Corporation (NASDAQ: MSFT), Take-Two Interactive Software, Inc. (NASDAQ: TTWO).

In addition, according to a recent article issued by Goldstein Research, another major driver in the sector is the global gaming software market and the rapid growth in the mobile gaming segment. Mobile gaming generated approximately USD $38.0 billion in 2016 or 40% of the global gaming revenue, of which more than 70% came from Smartphone gaming and rest from tablet games. Goldstein Research analyst forecast the Gaming Software Market to expand at a CAGR of 4.7% during the forecast period 2016-2024. Further, the market is anticipated to reach USD $125.0 billion by the end of forecasted period.  

Versus Systems Inc. (CSE: VS) (OTCQB: VRSSF) BREAKING NEWS: Versus Systems today announced its patented WINFINITE technology is powering OMEN Rewards, a real-world prizing platform built into OMEN Command Center and available for download by any Win10 PC via the Windows Store. OMEN Rewards will allow everyone running the OMEN Command Center app to play their favorite games for real-world prizes, gift cards, trips and experiences. The OMEN Rewards Beta is now available in the United States with plans to expand to other regions in the future.

OMEN Rewards is the result of a multi-year collaboration with Versus Systems, a Los Angeles-based technology company that has integrated their patented WINFINITE platform into HP's OMEN Command Center.

"Challenges and the achievements that go with them have been a part of gaming as far back as getting a top-score at the arcade in the 70s," said Matthew Pierce, Founder and CEO of Versus Systems. "Through our WINFINITE technology, we are thrilled to be working with HP to provide gamers with all kinds of fun and interesting ways to earn amazing prizes while playing some of their favorite games." Read this and more news for Versus Systems at: https://www.financialnewsmedia.com/news-vs/ 

Other recent developments in the gaming/tech industries include:International Business Machines Corporation (NYSE: IBM) recently announced IHL Group, a global research and advisory firm specializing in technologies for the retail and hospitality industries, has named IBM Order Management as a leader in the order management systems market for enabling unified commerce in retail. IBM was noted for its retail market dominance with three times the market share of the nearest competitor, reduced implementation times by more than 50 percent, and continued investment integrating disruptive technologies such as AI and blockchain. The report also noted the foundation for a successful unified commerce strategy for retail enterprises requires a highly capable and configurable OMS that can manage and fulfill orders across all channels.

The IHL Insight Market View Positioning Map displays vendors using a three-dimensional view of the market, which encompasses evaluating a vendor's strength based on global reach, size of accounts, growth of revenue and R&D funding, and market share.

Salesforce.com, Inc. (NYSE: CRM) the global leader in CRM, recently announced that Salesforce has been positioned by Gartner, Inc. as a Leader in its 2019 Magic Quadrant for Enterprise Low-Code Application Platforms.

"Today's leading CIOs not only keep up with business needs, but see around corners to leverage new technologies as engines for growth," said Sarah Franklin, EVP and GM of Platform, Salesforce. "With the majority of IT leaders ready to supercharge productivity using low-code, Salesforce is proud to offer trailblazing CIOs the industry's leading point-and-click app dev tools while leveraging Trailhead, our free online learning platform, to skill up employees so they're ready to harness those tools."

Microsoft Corporation (NASDAQ: MSFT) Reliance Jio Infocomm Limited (Jio), a subsidiary of Reliance Industries Limited, and Microsoft Corp. are embarking on a unique, comprehensive, long-term strategic relationship aimed at accelerating the digital transformation of the Indian economy and society. This 10-year commitment combines the world-class capabilities of both companies to offer a detailed set of solutions comprising connectivity, computing, storage solutions, and other technology services and applications essential for Indian businesses and will span the broad Reliance Industries ecosystem including its existing and new businesses.

In combining efforts, Jio and Microsoft aim to enhance the adoption of leading technologies like data analytics, AI, cognitive services, blockchain, Internet of Things, and edge computing among small and medium enterprises to make them ready to compete and grow, while helping accelerate technology-led GDP growth in India and driving adoption of next-gen technology solutions at scale.

Take-Two Interactive Software, Inc. (NASDAQ: TTWO) 2K recently announced all 12 WNBA teams and more than 140 players are making their debut in NBA®2K20, the next iteration of the top-rated and top-selling NBA video game simulation series of the past 18 years*. Available in Play Now and Season modes, fans of the franchise will be able to take control of their favorite WNBA players for the first time and experience gameplay animations, play styles and visuals built exclusively around the women's game.

"Growing up, I always remembered watching male athletes on TV and playing as them in video games. Now, to have the WNBA be in the position we are and to have women featured prominently in NBA 2K20, we are allowing young girls and boys to have female athletes as role models," said Candace Parker, Los Angeles Sparks forward. "The 2K team has done an amazing job of making sure to not just put women into the game playing men's basketball, but I've seen first-hand the hard work they're doing to make this as real and authentic as possible to women's basketball. I'm proud to be a part of this team paving the way for the future."

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