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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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Key findings

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

An uncertain business landscape has not knocked the digital transformation journeys of US enterprises off track. The 2023 KPMG US technology survey demonstrates how laser-focused digital acceleration and investments are enabling US businesses to capitalize on technology’s promise, even as they navigate economic, geopolitical, regulatory, and customer volatility.
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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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From AI, cyber, cloud, low code, and more — our more than 15,000 IT and engineering professionals can help clients move forward with leading edge technologies.

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Accelerating business transformation requires speed of insights and deep expertise.

Our professionals immerse themselves in your organization, applying industry knowledge and innovative technology to deliver sustainable results. Whether it’s helping you lead an ESG integration, risk mitigation, or digital transformation, KPMG creates tailored, data-driven solutions that help you deliver value, drive innovation, and build stakeholder trust.

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Mark Gibson
Global Head of Technology, Media & Telecommunications, KPMG International, and Head of TMT, KPMG US

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