Macro Views Summary

1732 technology decision makers responded to the October 2023 Macro Views Survey, with 25% from Global 2000 organizations.

2023 Q4 IT spending estimates have been revised slightly lower, while full-year 2023 estimates remain at +2.9%. There is optimism for 2024, with full-year spend growth at +3.8%.

Small and Midsize organizations are more positive than the aggregate IT spending outlook, anticipating +5.6% and +4.6% growth, respectively, compared to just +3.1% among Large organizations.

Reducing staffing and delaying or stopping new projects were the top methods for budget cutting, with consolidating redundant vendors and reducing consulting/outsourcing growing in popularity.

Zero Trust Security remains the highest priority among newer technology trends, followed by generative AI, which saw the largest increase as a priority compared to April 2023.

Priorities remain relatively unchanged in information security and analytics. Identity, SSO, MFA, and vulnerability management are top in security; BI and reporting is top for analytics.

Three-quarters of organizations are now evaluating generative AI and LLMs for business use cases, most commonly for customer support and text and data summarization. Less than half of generative AI use cases under evaluation have moved into production, with data privacy and security or legal and regulatory concerns cited as reasons.

Respondents are evenly split in leveraging generative AI from the companies developing them vs. embedded in existing vendor offerings. Improving data quality is the top priority for better supporting their generative AI goals.

Several vendors are seeing lower Net Scores among respondents with flat or negative Q4 spend compared to those with positive Q4 spend. Datadog, Snowflake, Workday, SAP, Elastic, Microsoft (security), Qualys, KnowBe4, Dynatrace, Deloitte, Accenture, Microsoft Teams, and Zoom show considerable disparities between positive and negative IT spend growth groups

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