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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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Ram Mandir To Be Built In Ayodhya By 2022

The Grand Ram Temple will be built in Ayodhya by 2022

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The Ram temple is proposed to be built at the Ram Janmabhoomi in Ayodhya by 2022. Wikimedia Commons

The much awaited temple proposed to be built at the Ram Janmabhoomi in Ayodhya after the Supreme Court verdict, will be completed before 2022, the 75th year of India’s independence.

The Uttar Pradesh government has released a picture of what the temple, and the Ram statue proposed near it, would look like on their completion. Sources said the Ram idol will take three years to complete.

Details are also trickling in of the grand temple complex planned. Spread over an area 240 feet long and 145 feet wide, it will be 141 feet in height. Its 4 feet periphery will have 251 columns.

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The Ram temple will have a prayer hall, a lecture hall, a educational facility, a saints residence and a hostel for visitors. Wikimedia Commons

The temple complex will have a prayer hall, a Ramkatha Kunj (lecture hall), a Vaidik Pathshala (educational facility), a Sant Niwas (saints residence) and a Yatri Niwas (hostel for visitors).

Also Read- Bollywood Celebs Hail Verdict on Ayodhya Case

Around the idol of Lord Ram, there will be other facilities such as a digital museum, a centre for description on holy scriptures, a library, a cafeteria and parking space. (IANS)