Forrester Research Inc - FORR STOCK NEWS

Forrester's Public Cloud Market Outlook, 2022 To 2026 predicts the public cloud market will exceed $1 trillion by 2026, driven by investments in analytics, AI/ML, and differentiated services. Hyperscalers are expected to generate nearly $496 billion in cloud infrastructure services. Key growth areas include database and analytics services projected to reach $89.5 billion, and development services expected to rise to $51 billion. However, competition, market fragmentation, and the rise of edge computing may challenge growth.

Forrester's Financial Services Customer Trust Index reveals that over 50% of US customers lack trust in financial service providers across banking, credit cards, insurance, and investments. Customers with high trust are significantly more likely to recommend their primary financial institution and engage in additional services. The index, based on a survey of over 10,000 US adults, shows significant disparities in trust levels among banks and low trust in the insurance sector. The findings underscore the importance of earning customer trust for revenue growth.

Forrester Research (Nasdaq: FORR) reported third-quarter 2022 results with total revenues of $127.7 million, up 8% from $118.1 million in Q3 2021. Net income increased to $5.4 million, or $0.28 per diluted share, compared to $4.5 million or $0.23 per diluted share last year. Adjusted earnings per share rose to $0.57 from $0.41. The total contract value climbed 7% year-over-year to $353 million. Forrester raised its financial guidance for Q4 and full-year 2022, anticipating revenues of $535 million to $545 million.

Forrester's 2023 predictions emphasize the critical role of trust in business as economic instability and scandals erode consumer confidence. Key forecasts include a 15% decline in trust in consumer technology companies and at least 10 firms incurring $5 million or more in fines due to greenwashing. Increasing reliance on AI for monitoring employee productivity is expected to lead to higher employee turnover. Despite declining trust in banks, government trust is projected to increase. Emphasizing trust will be crucial for long-term growth and resilience.

On October 20, 2022, Forrester (Nasdaq: FORR) unveiled its agenda for the Data Strategy & Insights 2022 conference scheduled for December 6-7, 2022, in Austin, Texas, and online. The event aims to assist data leaders in overcoming challenges related to data quality, governance, and analytics innovation. Notable speakers include Cortnie Abercrombie and Jay Franklin. Forrester emphasizes that companies with advanced data insights are eight times more likely to see significant growth. Attendees will engage in workshops and discussions to foster actionable intelligence and drive business success.

Forrester Research (Nasdaq: FORR) will host its Q3 earnings conference call on November 2, 2022, at 4:30 p.m. ET. Investors are encouraged to log in 15 minutes early. The call will be accessible via forrester.com. A replay will also be available on the website for those unable to attend the live broadcast. Forrester is a leading research and advisory firm dedicated to helping organizations leverage technology and customer experience to fuel growth, backed by extensive proprietary research.

Forrester (Nasdaq: FORR) highlights a significant shift towards environmental sustainability, with the US and EU investing $1.4 trillion and VC funding for green tech at $17.5 billion. This movement, termed the 'green market revolution,' aims to transform multiple sectors, including transportation and energy. Forrester's data reveals that 17% of organizations prioritize launching green products. Consumers increasingly prefer brands with sustainability commitments, with 40% of online adults in France more willing to buy such products despite higher prices. This trend positions sustainability as a major business opportunity.

Forrester (Nasdaq: FORR) announced the agenda for its Security & Risk 2022 conference, scheduled for November 8–9, 2022, in Washington, D.C. and online. The event aims to assist security leaders in tackling growing cybersecurity threats, with key discussions on engaging models to minimize risk and enhance customer trust. Noted speakers include Robert M. Lee of Dragos and Vivien Osamiluyi from Comcast. The conference will feature sessions on geopolitical risks, data security, and hiring diverse talent in cybersecurity. Attendees can register for in-person or digital participation.

Forrester forecasts AI software will grow 50% faster than the overall software market over the next two years, reaching an annual growth rate of 18%. The market will expand from $33 billion in 2021 to $64 billion by 2025 due to increased adoption amidst rising cybersecurity threats.

The US and China will account for 72% of global AI spending, with China set to invest $9.6 billion in AI software in 2022. Cybersecurity remains the fastest-growing AI category, alongside AI-infused software with a 22% CAGR by 2025.