Gartner: Low-code will continue to grow in 2021

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Industry data:

Forrester predicts that China's technology spending will grow by 2% in 2020 and 9% in 2021 to $195 billion. Although there are still threats posed by the epidemic and geopolitical frictions, China's technology spending in all major categories will gradually recover - helping companies strengthen business resilience, accelerate digital transformation, and adapt to uncertainty.

According to Gartner's latest forecast, the global low-code development technology market will reach $13.8 billion by 2021, up 22.6% from 2020. As a general social and technological development trend, low-code is expected to continue to grow significantly. For example, it is expected that the low-code application platform (LCAP) will still be the largest component of the low-code development technology market by 2022, up nearly 30% from 2020, reaching $5.8 billion by 2021.

Palo Alto Networks announced that it will acquire Israeli cloud security company Bridgecrew for $156 million in cash. This is the seventh Israeli company acquired by Palo Alto Networks. Palo Alto Networks said that this acquisition will build security into Palo Alto products earlier, especially making Palo Alto's Prisma Cloud the first cloud security platform covering the entire application life cycle (from building software to running software).

Financial report data:

According to the second quarter financial report released by Western Digital, the sales revenue of hard disks hit a three-year high. In this quarter, Western Digital's profit per share was 69 cents, excluding certain costs such as stock compensation, and its revenue was 3.9 billion US dollars, a decrease of 7% from the same period last year. From the perspective of business segments, the client equipment department is the largest revenue-generating department, with sales of more than 2.1 billion US dollars. The client solutions department had revenue of 1 billion US dollars, and the data center equipment and solutions department had revenue of 807 million US dollars.

According to Cisco's second-quarter financial report, Cisco's earnings per share were 79 cents and revenue was $11.96 billion, excluding certain expenses such as stock compensation, slightly lower than $12.01 billion in the same period last year. Wall Street had expected earnings per share of 76 cents and revenue of $11.92 billion.

Arista Networks' fourth-quarter earnings report showed that Arista had a profit of $2.49 per share, excluding certain costs such as stock compensation, and revenue of $648.5 million in the quarter. Wall Street analysts had expected a profit of $2.39 per share and revenue of $630 million.

Palo Alto Networks released its second quarter financial report, showing that its performance far exceeded expectations. Palo Alto Networks' earnings per share were $1.55 and revenue was $1 billion, up 25% from the same period last year, far exceeding Wall Street's forecast of earnings per share of $1.43 and sales of $985.68 million.

According to Amazon's fourth quarter 2020 financial report, the company achieved revenue of $125.6 billion in the quarter, a year-on-year increase of 44%. Among them, the cloud computing business, Amazon Cloud Services (AWS), had revenue of $12.742 billion, a year-on-year increase of 28%. For the whole year of 2020, the company's revenue was $386.064 billion, a year-on-year increase of 38%. Among them, the revenue of Amazon Cloud Services (AWS) was $45.37 billion, a year-on-year increase of 30%.

According to the fourth quarter financial report of big data analysis company Teradata, Teradata's profit per share was 38 cents and revenue was $491 million, excluding certain costs such as stock compensation. Wall Street had expected a profit per share of only 25 cents and revenue of $475 million. Teradata's annual recurring revenue was $383 million, up 9% from the same period last year, exceeding the expected range of $371 million to $373 million.