Veeva Systems Rides Niche Cloud Market to Become Industry Leader with Massive Growth Potential
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Veeva Systems offers cloud-based tools to life sciences companies to help them comply with regulations and manage data. It has become a leader in this niche market.
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Veeva benefits from high switching costs - once life sciences companies adopt its platforms, they are unlikely to leave due to reliance on the systems and data.
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Veeva serves a large $20B total addressable market that is mostly untapped so far. It estimates massive room for growth.
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With continued expansion, Veeva could potentially deliver 15-16% revenue CAGR over the next decade if it reaches 50% market penetration.
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Due to strong competitive advantages and growth opportunities, Veeva is likely to be a strong investment, outlasting the current bull market.