Globant(US:GLOB)2023-11-16 22:42Market Opportunity - The worldwide IT services spending is expected to reach $2.1 trillion by 2027[7] - The digital business implementation and refinement service market is expected to reach $237 billion by 2025[7] - Global spending on product engineering and operational technology services is forecasted to reach $334 billion by 2027[9] - 85% of CEOs reported increased investments in digital capabilities, and 77% are increasing investments in IT[5] - 90% of service providers will use generative AI for software development services by 2027[8] - Artificial intelligence software revenue is projected to reach $59.8 billion worldwide by 2025[8] Globant's Performance and Strategy - Globant's LTM Q3'23 total revenue is $2.0 billion[115] - Globant's revenue CAGR from 2014 to 2022 was 31.5%[115] - Globant has 27,500+ total employees as of September 30, 2023[115] - Globant's LTM Q3'23 revenue per IT professional is $79.4K[115]