The coronavirus-led crisis has devastated global economies. In spite of disruption in certain businesses, thanks to advancement in technology, several companies have remained operational at maximum capacity. The remote working trend has played a significant role in speeding up digitization of the global economy, with cloud computing acting as a catalyst.

The shift to working for home has highlighted demand for various cloud computing services like infrastructure, storage and data security. In fact, per a report by Canalys, the global cloud infrastructure-as-a-service market has reached a worth of $34.6 billion in first-quarter 2020, growing 31% from second-quarter 2019.

This is because workplace collaboration tools have become an essential service for companies connecting with its workforce in the wake of the widespread lockdowns. In fact, with workspace now in the cloud, the need for collaboration and monitoring tools makes cloud computing one of the most sought-after innovations among technology companies. Additionally, the high storage capacity and processing horsepower are a bonus.

Months into the new normal of remote working, organizational focus has shifted to increased flexibility, real-time collaboration, intelligent applications and a more streamlined user experience. Companies like AVEVA Connect will serve as a one-stop destination for all these requirements. In fact, with the expansion of cloud collaboration tools amid the coronavirus pandemic, software-as-a-service (SaaS) businesses expect robust growth, due to their ease in deployment, management, and support.

In view of the pandemic, the global cloud computing market size is projected to grow from $371.4 billion in 2020 to $832.1 billion by 2025, at a CAGR of 17.5%, per a ResearchAndMarkets.com report. Organizations are migrating their infrastructure to cloud due to its lower hardware cost and exquisite features. Additionally, the cloud technology adoption is expected to see robust growth in sectors where the work-from-home initiatives are helping sustain enterprise business functions.

Digital transition makes companies rely on enterprise resource planning (ERP) systems to help aggregate and organize data that is spread across each of its independent departments. While traditional ERP solutions are often housed within a companys own infrastructure server and requires updating and servicing to stay relevant, cloud ERP relies on cloud-based server infrastructure.

The coronavirus outbreak has halted this digital transition process for several companies. The requirement for many now revolves around cloud computing and collaboration. Hence, new plans based around ERP are required. The cloud ERP system requires a shared database that supports multiple functions used by different business units, allowing employees in various divisions to access and rely on the same information for their specific needs.

Companies like Anaplan play a tremendous role. Its native cloud platform helps connect a company's digital data and systems to its workforce along with facilitating decision-making and organization-wide planning. Anaplan's machine learning-enabled platform helps in finances, sales, marketing or logistics.

Per MarketsandMarkets estimate, the global cloud ERP market size is expected to grow from $45.3 billion in 2020 to $101.1 billion by 2025, at a CAGR of 17.4%.

Given the uproar in cloud technology, we have shortlisted five stocks that are poised to grow from the pandemic-induced remote working trend or long-term shift to global digitalization.

salesforce.com, inc. (CRM - Free Report) offers cloud-based software that includes customer relationship management service and marketing automation, analytics, and application development. The companys expected earnings growth rate for the current year is 25.1% compared with the ZacksComputer - Softwareindustrys estimated earnings growth of 0.5%.

The Zacks Consensus Estimate for its current-year earnings has climbed 25.9% over the past 60 days. salesforce currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of todays Zacks #1 Rank stocks here.

Blackbaud, Inc. (BLKB - Free Report) provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations and individual change agents. The companys expected earnings growth rate for the current year is 18.3% compared with the ZacksComputer - Softwareindustrys estimated earnings growth of 0.5%.

The Zacks Consensus Estimate for its current-year earnings has climbed 29.9% over the past 60 days. Blackbaud currently sports a Zacks Rank #1.

Box, Inc. (BOX - Free Report) provides a cloud content management platform that enables organizations to manage and share their content from anywhere on any device. The companys expected earnings growth rate for the current year is more than 100% compared with the ZacksInternet - Softwareindustrys projected earnings growth of 7.3%.

The Zacks Consensus Estimate for its current-year earnings has climbed 14% over the past 60 days. Box carries a Zacks Rank #2 (Buy) at the moment.

Qualys, Inc. (QLYS - Free Report) provides cloud-based platform that delivers IT, security and compliance solutions. The companys expected earnings growth rate for the current year is 13.3% compared with the ZacksSecurityindustrys estimated earnings growth of 6.7%. The Zacks Consensus Estimate for its current-year earnings has climbed 5.6% over the past 60 days. Qualys currently carries a Zacks Rank #2.

FireEye, Inc. (FEYE - Free Report) provides cybersecurity solutions to prepare for, prevent, investigate, respond to, and remediate cyber-attacks. The companys expected earnings growth rate for the current year is more than 100% compared with the ZacksSecurityindustrys estimated earnings growth of 6.7%. The Zacks Consensus Estimate for its current-year earnings has moved up more than 100% over the past 60 days. FireEye carries a Zacks Rank #2.

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5 Cloud Stocks to Make the Most of the Digitalization Race - Zacks.com