ETR has officially finalized data for its November 2023 Emerging Technology Survey (ETS), which provides data-driven insight into which private technology companies are gaining traction in global enterprises. 1549 IT decision makers participated in the November survey, including 275 from Fortune 500 and 378 from Global 2000 organizations. Of the total survey respondents, 23% hold C-suite titles, with another 50% respondents at the VP / Director level. The IT/TelCo, Services/Consulting, and Financials/Insurance sectors are the three most represented industry verticals, collectively accounting for 52% of respondents. Finally, 64% are from Large organizations, and 36% are from Midsize & Small organizations.
These end-user participants indicated their awareness, evaluation, utilization, and churn of 475 private enterprise technology companies. In addition, ETR leverages its proprietary Net Sentiment and Mind Share metrics to analyze absolute and relative performance over time of these private technology companies across more than 27 product-specific subsectors. In the NOV23 survey iteration, Net Sentiment across ETR's private company universe has continued to improve. Among sectors with >5 vendors, 83% have seen a sequential improvement in Net Sentiment, up from 67% last survey and only 17% in the MAY23 ETS.
This article will summarize a few key takeaways from the most recent ETS, but the full Findings Webinar and Report are much more robust and available on the ETR platform here. Or you can access all the data yourself with a free trial.
In this summary, we will focus on Net Sentiment leaders, but the full report also examines the critical evaluation and allocation metrics, as well as which vendors are seeing the highest churn rates post evaluation. Among Net Sentiment leaders, it is not surprising that OpenAI continues to hold the highest score across the entire survey universe along with the second highest Mind Share of its respective sector; Kubernetes follows suit with the second highest Net Sentiment score and highest respective Mind Share. In addition to OpenAI’s leading positioning, other ML / AI outperformers include Hugging Face, TensorFlow, Databricks, Anaconda, and Jasper. Security vendors are well represented, with OneTrust, Snyk, Wiz, BeyondTrust, Netskope, Abnormal Security, HackerOne, Salt Security, SecurityScorecard, and 1Password all outperforming the broader survey universe. Although not shown in the data visualization below, the Net Sentiment outperformers among smaller Mind Share vendors come from two more Generative AI players, Anthropic and Cohere.
Now that we have seen the vendors with the highest absolute Net Sentiment scores, Let's take a look at the positive rate of change rankings to determine which private technology companies saw the most sizeable improvements since the prior survey. Since August, LogRocket, BrightEdge, and Demica have seen the largest positive inflection in Net Sentiment; Demica, Teamtailor, and Pair Finance all saw recovery from a negative Net Sentiment score. Hugging Face and Anthropic, both from the ML / AI sector, were the vendors notably seeing improving Net Sentiment scores off already strong bases; while coming from a weaker base, Labelbox was another ML / AI vendor seeing notable improvements.
Again, the full ETS Findings webinar and report examines all the key metrics across hundreds of leading private technology companies. In addition, we also break out and analyze key subsectors such as ML/AI, Information Security, Data Warehousing, and Data Analytics. Please log in to see all the data analysis, or you can request access through our service team at service@etr.ai. In the meantime, below is a quick sneak peek at one of ETR's many proprietary data analysis models.
In this model (visualized below), we review ETR’s proprietary Utilization-to-Churn ratio for the leading ML/AI vendors we track in the ETS. Utilization-To-Churn is the ratio of a vendor’s existing customers to those that have walked away. This ratio should be interpreted as a vendor’s ability to retain customers post-evaluation. The top five ML/AI vendors in this analysis are Hugging Face, OpenAI, TensorFlow, Anthropic, and Databricks. In addition, the vendors exhibiting the most growth here include Hugging Face, Anthropic, and Jasper.
With the NOV23 ETS having recently concluded and the January 2024 Technology Spending Intentions Survey (TSIS) currently in the field, now is a great time to jump into the platform and check out the data and research for yourself. Get started today!
Enterprise Technology Research (ETR) is a technology market research firm that leverages proprietary data from our targeted IT decision maker (ITDM) community to provide actionable insights about spending intentions and industry trends. Since 2010, we have worked diligently at achieving one goal: eliminating the need for opinions in enterprise research, which are often formed from incomplete, biased, and statistically insignificant data. Our community of ITDMs represents $1+ trillion in annual IT spend and is positioned to provide best-in-class customer/evaluator perspectives. ETR’s proprietary data and insights from this community empower institutional investors, technology companies, and ITDMs to navigate the complex enterprise technology landscape amid an expanding marketplace. Discover what ETR can do for you at www.etr.ai