Geopolitical turmoil and macroeconomic headwinds upended investor sentiments and led to massive tech selloffs last year. Last year was challenging for stocks of Software-as-a-Service (SaaS) companies to navigate through such volatilities. In response, tech companies have resorted to reducing headcounts to bolster their balance sheet.
However, SaaS demand is rising, especially with the rising adoption of public cloud services across enterprises. The global public cloud market is expected to reach $649.62 billion by 2028 at a CAGR of 15.1%.
