Preliminary OCT24 TSIS

ETR's Research Team recently published the October 2024 Early Takeaways, leveraging preliminary data to examine sectors with improving/declining second-half 2024 spending intent, updated IT spending growth, and inflections captured at the vendor level. Check out some highlights in this week's article, and view the full report on the ETR platform.

During each active TSIS polling period, ETR analyzes preliminary data highlighting the most significant movements in the spending intentions data set. In this survey, most sectors exhibit a survey-over-survey (s/s) deceleration in spending intentions, a stark reversal from JUL24. Notable s/s decreases were seen within several compute sectors (ML / AI, Cloud Computing, Database / Data Warehousing, Analytics / B.I. / Big Data). Syndicated Research and Business Processes Software were the two sectors seeing significant s/s improvement.

Transitioning to vendor-level data, cloud giants like Microsoft and AWS continue to dominate the vendor landscape in Pervasion, while maintaining Net Score outperformance; however, Anthropic, OpenAI, Databricks, and Wiz lead in Net Score while public companies like Klaviyo, Rubrik, ServiceNow, Snowflake, and Zscaler come into the next highest tranche.

Focusing on citation growth, HubSpot (Marketing) saw the largest citation growth s/s, followed by several ML / AI vendors (AWS, Microsoft, Google, OpenAI). SentinelOne was also a notable citation gainer in the Information Security sector. Among lower citation vendors, several more ML / AI vendors (Anthropic, Meta Llama, DataRobot, Open Text Magellan) saw strong s/s citation growth. In tandem with its Net Score growth, Klaviyo also saw citations grow at a healthy clip.

Preliminary data from the OCT24 Macro Views survey showed that the final 2024 IT spend estimate is currently at 3.5% growth, slightly lower than the prior survey's estimate of 3.7%. Full year IT budget growth estimates for 2025 were also collected during this survey period and are available for ETR subscribers on our platform. For the first time in this Macro Views survey iteration, ETR is tracking current spend patterns across technology areas. In Cloud spending, the average growth rate is 8.8%, with only 14% citing flat spending in the Cloud. Although it is not a large percentage, some respondents (5%) are increasing their cloud spending by more than 25%. The complete Macro Views report and webinar will be published on October 11th, tracking detailed IT spending trends, pricing increases, and more.

This report highlights just a few key takeaways from our preliminary analysis; however, ETR's October '24 Technology Spending Intentions Survey (TSIS) is now officially closed today! 1,775 IT decision makers participated, including 282 respondents from Fortune 500 and 419 from Global 2000 organizations. Reach out to us at service@etr.ai if you want access to the Macro Views Webinar on 10/11 and the OCT24 Findings webinar on 10/18.

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