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Adobe Aims to Tap $128 Billion Opportunity in 2022: Report

Adobe also affirmed it is on track to achieve Q4 revenue of $2.97 billion

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The headquarters of Adobe Systems in San Jose, California
The headquarters of Adobe Systems in San Jose, California. Wikimedia Commons

Adobe’s stock went up after the software major announced robust earnings forecast for its fiscal 2020 that exceeded analysts’ expectations.

The total addressable market for Adobe Experience Cloud is expected to increase to $84 billion by 2022, driven by increased demand for data and insights, content and personalisation, commerce, customer journey management and advertising, Adobe said on Monday.

The company forecasts revenue to reach $13.15 billion in the year beginning December 1 and digital Media segment revenue to grow over 19 per cent (year-over-year).

“Our strategy to unleash creativity, accelerate document productivity and power digital businesses is driving our growth and represents a $128 billion opportunity in 2022,” said Shantanu Narayen, President and CEO, Adobe.

“Our expanding universe of customers, strong global brand, market-leading products and continued innovation positions us for a stellar 2020,” he added.

Adobe
Adobe, Microsoft and SAP also announce Open Data Initiative. (IANS)

At its core, Adobe’s Creative Cloud strategy is about unleashing creativity for all, which is driving an increase in Creative Cloud total addressable market for 2022 to approximately $31 billion across creative professionals, communicators and consumers.

Adobe continues to benefit from the paper-to-digital transformation.

With trillions of PDFs created every year and approximately two billion Adobe mobile and reader users, the total addressable market for Adobe Document Cloud is expected to grow to $13 billion by 2022, said the software major.

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Based on strong quarter-to-date performance, Adobe indicated it is raising its Q4 fiscal year 2019 Digital Media net new annualized recurring revenue (ARR) target to approximately $475 million, an increase of $25 million above its prior target.

Adobe also affirmed it is on track to achieve Q4 revenue of $2.97 billion. (IANS)

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Chinese Behemoth BBK Group Dominates Xiaomi in Smartphone Market

This year, the group has infused another brand called iQOO in the competitive Indian market that will be the first

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Xiaomi
In comparison, Xiaomi grew 5 per cent year-over-year in 2019 driven by expansion in the offline and strong performance of its Redmi Note series. Wikimedia Commons

Chinese behemoth BBK Group, the parent company of OPPO, Vivo, Realme and OnePlus brands, dominated the India smartphone market with 37 per cent share for the full year 2019, compared to 28 per cent of Xiaomi, reveals latest data from Counterpoint Research.

In the fourth quarter of 2019, the BBK Group captured a mammoth 43 per cent share in the India smartphone market while Xiaomi had 27 per cent share.

While Vivo’s market share grew to 16 per cent in the calendar year 2019 from 10 per cent in 2018, realme’s share grew to 10 per cent in 2019 from 3 per cent in 2018, OPPO’s share grew to 9 per cent in 2019 from 8 per cent in 2018. With 29 per cent growth in market share, OnePlus also became one of the fastest growing smartphone brands in India in 2019.

While Realme grew a massive 255 per cent in 2019, Vivo registered 76 per cent growth and OPPO 28 per cent, In comparison, Xiaomi grew 5 per cent year-over-year in 2019 driven by expansion in the offline and strong performance of its Redmi Note series.

“India now has emerged as the biggest market for Xiaomi, surpassing its home market China in 2019. However, the growth rate has declined to single-digit as Xiaomi is now serving a much larger installed base in India,” according to the data.

Vivo’s stunning growth in 2019 was driven by good performance of its budget-segment series. “Also, by successfully pivoting to online and aggressively positioning the S series in the offline segment with new features, it managed to make a dent in Rs 15,000-Rs 20,000 segment,” said Counterpoint.

Overall, in the fourth quarter of 2019, the BBK group captured a mammoth 43 per cent share in the India smartphone market. Interesting here to note is that the BBK Group does not seem to be resting on its laurels.

This year, the group has infused another brand called iQOO in the competitive Indian market that will be the first, 5G-ready premium device in the country and would take on Xiaomi’s new sub-brand POCO.

Xiaomi
In the fourth quarter of 2019, the BBK Group captured a mammoth 43 per cent share in the India smartphone market while Xiaomi had 27 per cent share. Wikimedia Commons

The iQOO brand — which already has six devices in its portfolio in China with the most recent one being the iQOO Neo 855 Racing — would work as a separate legal entity in the country. With this brand, the BBK Group will now have five brands — OnePlus, Vivo, OPPO, Realme and now iQOO — to take on its rivals in India in 2020.

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“We aim to sell 10 lakh iQOO devices next month in India. It will be 100 per cent ‘make in India’ premium device focused on strong performance, design innovation and 5G-ready,” Gagan Arora, Director-Marketing, iQOO India, recently told IANS. (IANS)