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Threats related to data security, especially on cloud-based platforms, continue to hamper the enterprise software market’s growth. Nevertheless, the enterprise software market is still expected to grow rapidly in the coming months on increasing demand from almost every industry as part of widespread digital transformation efforts. Furthermore, the resurgence of COVID-19 cases is leading to a resurgence in hybrid working arrangements, which is benefitting the enterprise software industry. According to a Statista report, the worldwide enterprise software market is expected to grow at an 8.74% CAGR between 2021 – 2026. So, both INTU and MDB should benefit.
INTU’s shares have gained 15.8% in price over the past month, while MDB has returned 0.5%. Also, INTU’s 65.6% gains over the past nine months are significantly higher than MDB’s 27.4% returns. Furthermore, INTU is the clear winner with 80.1% gains versus MDB’s 41.3% returns in terms of their year-to-date performance.
