Cloud computing has changed the way organizations access data. But that’s not all. Cloud and related technologies remain in very high demand.

Cloud computing, machine learning, and artificial intelligence (AI) are essential areas of focus to technology executives going into 2022. According to the CNBC Technology Council survey of 44 executives, 82% of respondents said cloud computing will be critical for their firm in 2022. Another 34% of the respondents indicated their firms would be investing the most money in this area.1

Source:, Photo credit: Ozrimozy/shutterstock

When it comes to cloud computing, the healthcare industry is one area worth a good look. According to analysis by Vantage Market Research, the global healthcare cloud computing market is expected to be worth $70.0 billion by 2028. In 2020, it was $28.5 billion. This represents a compound annual growth rate of 18.1%.3

According to analysis by Grand View Research, the global cloud computing market was valued at US $274.7 billion in 2020. In coming years, it’s expected to see a robust growth. Between 2021 and 2028, the global cloud computing market is expected to grow at a compound annual growth rate (CAGR) of 19.1%, to over $1.25 trillion. Key factors contributing to growth in the global cloud computing market include artificial Intelligence (AI) and machine learning, as well as remote working and workplace transformation.

The software as a service (SaaS) market is also expected to grow rapidly. In 2020, 54% of the global cloud computing revenue was SaaS-related. As per an IT industry survey, 60% of global firms are planning to use SaaS providers’ cloud-managed services in 2022. This figure is twice as much compared to 2018.4

A Closer Look at Leading Cloud Computing Companies

Oracle Corporation

Oracle provides an integrated suite of secure applications under Oracle Cloud. The company has 430,000 customers in 175 countries, 133,000 employees, 13,000 customer support and service specialists who speak 29 languages, and 18,000 implementation consultants.5

Oracle recently announced its financial results for the second quarter of fiscal 2022 ended on November 30, 2021. Total revenue for the quarter amounted to $10.4 billion. This represented growth of six percent year over year. Cloud services and license support revenue was $7.6 billion and Cloud license and on-premises license revenue was $1.2 billion.6 Oracle also announced recently that it will be buying Cerner, an electronic medical records company, for an all-cash deal worth $95.00 per share, or $28.3 billion. This is one of the biggest deals Oracle has ever made.7

Source: Shopify

Shopify Inc

Shopify offers all things e-commerce. It provides infrastructure that’s essential for doing business online, providing tools to start, grow, market, and manage a retail business.

Store owners using Shopify’s platform registered record Black Friday/Cyber Monday weekend sales of $6.3 billion from the start of Black Friday in New Zealand through the end of Cyber Monday in California. In the same period in 2020, Shopify platform store owners reported sales of $5.1 billion. This represents an increase of 23% year over year.8

A few more interesting insights:

  • Peak sales were registered on November 26 at the rate of $3.1 million per second
  • 47 million consumers globally took part during the sale weekend, purchasing from independent and direct-to-consumer brands using Shopify
  • On average, consumers globally spent $100.70 during the Black Friday/Cyber Monday weekend

Shopify had a breakthrough year in 2020, growing 86% overall, and having three quarters of revenue growth above 90%.With 25% gains in 2021, Shopify continues to benefit from the lengthening pandemic environment as more small- to medium-sized businesses transition to online only operations.

Investing in Cloud Computing with DATA ETF

If you’re interested in investing in a cloud computing ETF, consider the Evolve Cloud Computing Index Fund (DATA ETF), Canada’s first cloud computing ETF. DATA ETF invests primarily in equity securities of companies located domestically or internationally that have business operations in the field of cloud computing. To learn more about DATA ETF, please click here:

Looking for a more diversified investment solution? The award-winning Evolve Innovation Index Fund (EDGE ETF) is an 8-in-1 innovation fund that invests in disruptive innovation themes across a broad range of industries, including: cloud computing, cybersecurity, egaming & esports, automobile innovation, 5g, fintech, genomics, and robotics & automation. For more information on EDGE ETF, visit our website at or click here.

For the latest information on investing in cloud computing and industry updates on related investment products, sign up for our weekly newsletter here.


  1. Thomas, I., “These are the top priorities for tech executives in 2022, survey reveals,” CNBC, December 20, 2021;
  2. Slater-Robins, M., “Exclusive: Has Google won the cloud storage wars?,”, December 27, 2021;
  3. “Healthcare Cloud Computing Market to reach US $ 70 billion by 2028 – Global Insights on Size, Trends, Key Leaders, COVID-19 Impact Analysis, Regulatory Landscape, and Growth Opportunities: Vantage Market Research,” GlobeNewswire, January 4, 2022;
  4. “Cloud Computing Market Size, Share & Trends Analysis Report By Service (SaaS, IaaS), By Enterprise Size (Large Enterprises, SMEs), By End Use (BFSI, Manufacturing), By Deployment, And Segment Forecasts, 2021 – 2028,” Grand View Research, July 2021;
  5. “Oracle Corporate Facts,” Oracle Corporation;, last accessed January 11, 2022.
  6. “Oracle Announces Fiscal 2022 Second Quarter Financial Results,” Oracle Corporation, December 9, 2021;
  7. Bursztynsky, J., “Oracle to buy medical records company Cerner in its biggest acquisition ever,” CNBC, December 20, 2021;
  8. “Shopify Merchants Understood the Assignment, Smashing Black Friday / Cyber Monday Records with $6.3 Billion in Sales,” Shopify Inc, November 30, 2021;–cyber-monday-records-with-63-billion-in-sales.
  9. “Shopify: Here’s What’s Coming in 2022,” The Motley Fool, PublishedJanuary 4, 2022, accessed January 13, 2022;


The contents of this blog are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed. These contents are not an offer or solicitation of an offer or a recommendation to buy or sell any securities or financial instrument, nor shall it be deemed to provide investment, tax or accounting advice. The information contained herein is intended for informational purposes only.
Commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and mutual funds (funds). Please read the prospectus before investing. ETFs and mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. There are risks involved with investing in ETFs and mutual funds. Please read the prospectus for a complete description of risks relevant to ETFs and mutual funds. Investors may incur customary brokerage commissions in buying or selling ETF and mutual fund units.
Certain statements contained in this blog may constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “anticipate”, “believe”, “intend” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve Funds undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.


Tags cloud  Cloud Computing  cloud computing companies  cloud computing market  cloud service  cloud solution  cloud technology  data etf  EDGE etf  Evolve Cloud Computing Index Fund  healthcare cloud computing  oracle  shopify