The technology industry serves as the catalyst for global innovation, seamlessly linking individuals and businesses with cutting-edge solutions and fostering continuous progress. So, I think investors could consider grabbing top tech stocks LiveRamp Holdings, Inc. (RAMP – Get Rating), Daktronics, Inc. (DAKT – Get Rating) and Eltek Ltd. (ELTK – Get Rating) this month.
The technology industry is a dynamic and ever-changing field that encompasses creating, developing, and distributing technological products and services. Moreover, the increasing demand for cloud services and infrastructure upgrading activities significantly drives the demand for managed IT services across the market.
The IT Services market in the US is anticipated to reach a revenue of $454.70 billion in 2023, with IT Outsourcing dominating at a projected $167.90 billion. The industry is expected to expand at a CAGR of 6.7% to reach $628.80 billion by 2028.
Worldwide, the IT Services market is anticipated to achieve a projected revenue of $1.24 trillion this year. The growth is expected to expand at a CAGR of 7.4% to reach revenue of $1.77 trillion by 2028.
In addition, the expansion of the IT industry is fuelling a demand for sophisticated and effective IT hardware solutions. Concurrently, ongoing innovations in IT hardware, including accelerated processors, expanded storage capacities, refined networking technologies, and energy-efficient designs, are compelling businesses to upgrade and elevate their IT infrastructure.
As a result, the global IT Hardware Market is expected to grow from $121.32 billion in 2023 to $177.11 billion by 2028, expanding at a CAGR of 7.9%.
Considering these conducive trends, let’s look at the fundamentals of the three best tech stocks, starting with number 3.
RAMP is a global technology company operating a data collaboration platform. The company’s platform enables organizations to…
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