2023 KPMG US Technology Sector Insights Report
Technology companies are notably more likely than those in other sectors to have seen a positive impact on profitability or performance from their digital transformation efforts.
Meticulously Ambitious
In May and June 2023, KPMG surveyed 400 US-based executive-level technology leaders across 8 industry sectors with annual revenue above $100 million. The 2023 KPMG US Technology Survey Report explored technology leader views on emerging technology goals, adoption, scale, roadmaps and outcomes. This technology industry report highlights the most significant differences in the survey findings for the technology leaders in the technology sector relative to all sectors represented in the survey.
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2023 KPMG US Technology Sector Insights Report
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This KPMG 2023 US Technology Survey of tech executives shows companies in the technology sector to be adept users of digital technology. Technology companies are notably more likely than those in other industries to have seen a positive impact on profitability or performance from their digital transformation efforts in several key areas, including data and analytics and virtual reality/augmented reality/the metaverse.
- 7 in 10 executives in the technology sector are confident their organization will be able to achieve its ambitions across a broad front using their existing technologies.
- 58 percent of executives in the technology sector indicate the most common tech-related challenge to their organization’s ability to innovate is increased pressure to create new product features by integrating multiple technologies and capabilities.
- By comparison, only 50 percent of all executives surveyed say their organization is finding it challenging to mesh technologies such as AI and low code or no code software development along with capabilities such as workflow automation.
- Only 6 percent of technology sector executives now say their organization is proactive in progressing against AI and automation strategy, for example, down from 28 percent in 2022.
2023 KPMG US Technology Survey Report
Few backers used to focus on whether many of these companies made money as long as they were investing and growing. But the next generation of investors is looking for more predictability and better financial discipline.
Mark Gibson
Technology, Media, & Telecommunications, KPMG US, and Global Lead of Technology, Media, & Telecommunications, KPMG
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