New cloud computing ETF taps into fast-growing universe
The global population has a reported 25 billion devices connected online around the world today – that’s three per person – whether it’s via your phone, thermostat or maybe even your fridge. And there is little doubt that remote working has resulted in a surge of demand for software.
Lala said: “DocuSign is a great example of software as a service infrastructure that we need during this type of environment. The amount of data that's been moving to the cloud since COVID kicked in has been pretty significant. For our business, there’s Salesforce, which is cloud-based software and Zoom, of course, which has become instrumental to our lives. Then think about Disney+, Netflix … that's cloud computing.
“What’s interesting is it’s become a foundation for a long-term behavioural shift, I believe. We’ve gotten used to this technology and even when we start to go back to our office, it's still now going to be integrated into our everyday life.”
Lala added that it's become such a large industry that it’s now impossible for investors to ignore.
“Pretty much everything you're doing in your daily life today includes cloud computing, and is utilizing the software as a service, platform, or infrastructure as a service. Everyone can appreciate how big of an industry that's become and I think that's one of the reasons it's become so investable.”