HOUSTON, TX / ACCESSWIRE / April 18, 2019 / According to Research and Markets, the global managed service market could see a CAGR of 11.23% over the next three years thanks to new technological advancements. Analysts at Markets and Markets, say the North American IT services market could be worth $261.5 billion over the next three years, as well.
As we begin to see further growth, it's creating a wealth of opportunity for companies such as Nerds on Site Inc. (CSE: NERD)(OTCQB: NOSUF), Best Buy Co. Inc. (NYSE: BBY), and Cognizant Technology Solutions Corp. (NASDAQ: CTSH).
Mobile IT solutions company, Nerds on Site Inc. (NERD)(NOSUF) for example just expanded its mobile fleet by 133% in the 3 months since the Company's IPO from 15 to 35. The company has a target of 100 within the next two years.
"With such a rapid increase in NerdMobiles and number of Nerds, we are very excited and anticipate, based on experience, an uptick in Nerd applications, which will accelerate revenue growth in these hot new markets for us in the US," said Charlie Regan, CEO. "Our growth model indicates that by reaching our 100 NERD target, the Company will more than double current revenue," added Mr. Regan. "It is encouraging to see the same effect from our NerdMobile parades and highly visible NERD community presence, as we have proven in Canada, replicating itself in the US markets we have chosen for initial build out of the brand."
For More Information on Nerds on Site Inc., Click Here.
Best Buy Co. Inc.'s (BBY) Geek Squad has been seeing strong growth, as well. In 2018, it launched Total Tech Support on Canada and in the U.S. It expanded to nearly 200 stores in more than a dozen states, and has already seen 230,000 people sign up for the program who have used the program more than 400,000 times.
"This is a big transition for Best Buy and Geek Squad," said Matt Bonin, the retailer's vice president of services," as quoted by Star Tribune "We're transitioning from a transactional business to having more of a support relationship - supporting all of the technology in a customer's home."
For More Information on Best Buy Co. Inc., Click Here.
Cognizant Technology Solutions Corp. (CTSH) recent launched a $600 million accelerated share repurchase program with HSBC Bank USA, National Association, and Societe Generale. It also just acquired financial software company, Meritsoft to help strengthen Cognizant's software-as-a-solution (SaaS) portfolio.
In addition, earlier this year, the company recently reported sales growth of 8% to $4.13 billion, which was above expectations for 7% growth. Net income of $648 million was up from a year-earlier loss. Non-GAAP EPS of $1.13 also topped expectations for $1.06.
For More Information on Cognizant Technology Solutions Corp., Click Here.
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