40+ Technology in Business Statistics Must Know in 2024

As technology has rapidly advanced, businesses have been forced to adapt in order to remain competitive.

It is used to streamline processes, make operations more efficient, and business communication more effective. However, not all businesses are using technology to its full potential.

Technology in Business Statistics: Key Numbers

90% of all SMBs make use of digital communications tools.
37% of businesses and organizations employ AI.
90% of prominent companies invest in AI.
85% of small business owners are finding success by utilizing technology in their businesses.
75% say AI will help them start new businesses.
44% of businesses have reported cost savings as a benefit of implementing AI.
SAP (Business Applications and Technology) is used by 290,000 companies in over 190 countries.
More than 2 million merchants utilize Square.

Importance of Technology in Business Statistics

59% of companies reported an impact in the realization of new revenue streams from their technology transformations over the past two years.
68% of companies experienced an increase in revenue from existing streams due to technology transformations.
76% of companies saw a reduction in costs as a result of their technology transformations.
79% of companies reported an improvement in employee experience from technology transformations.

Source: (Mckinsey)

Impact of Digital Transformation Technologies on Business Profitability & Performance

66% of respondents reported an increase in profitability or performance from investments in data and analytics.
64% of respondents saw improvements from investments in cybersecurity.
64% of respondents experienced gains from investments in public cloud and XaaS technologies.
63% of respondents benefited from investments in AI and automation.
60% of respondents reported an increase in profit or performance from investments in VR/AR, including the Metaverse.
59% of respondents saw improvements from investments in low code/no code technologies.

Source: (KPMG global tech report)

Top Technology Challenges by Business Statistics

21.33% of businesses report keeping up with threats to data security as a major challenge.
16.67% of businesses face difficulties in ensuring employees are trained on how to use technology services.
The cost of services is a notable challenge for 9.33% of businesses.
9.33% of businesses find managing remote work situations challenging.
9% of businesses struggle with the time needed to maintain services.
7.67% of businesses have issues with working with outdated technology.
6.67% of businesses report reliability and uptime as a significant challenge.
3.33% of businesses find that current tools are not adaptable to changing needs.

Source: (Statista)

Technologies Currently Used in SMBs Operations Statistics

80% of SMBs are using finance/accounting software.
75% of SMBs have implemented data and information security technologies.
65% of SMBs use HR software.
64% of SMBs are leveraging cloud computing.
61% of SMBs utilize customer relationship management (CRM) software.
60% of SMBs have adopted project management software.
59% of SMBs are using digital marketing tools.

Source: (Capterra 2019 Top Technology Trends Survey)

What SMBs Value Most in Technology Solutions Statistics

69% of SMBs consider ease of use as the most important factor when evaluating technology.
63% of SMBs prioritize a trustworthy vendor in their technology evaluation.
61% of SMBs view price as a critical factor in their technology decisions.
61% of SMBs place importance on the simplicity of maintenance when choosing technology.
61% of SMBs value speed and ease of setup as key factors in technology evaluation.

Source: (Salesforce Research)

Emerging Tech for Business Advantage Statistics

Which type of technology has had the greatest impact on the business?

64% of organizations believe that big data/analytics will give them a competitive advantage in the next year.
50% of organizations see cloud technology as providing a competitive edge.
44% of organizations think artificial intelligence/machine learning will be advantageous.
29% of organizations consider robotic process automation to be a key competitive technology.
20% of organizations view the Internet of Things (IoT) as a technology that will offer a competitive advantage.
17% of organizations believe on-demand marketplace platforms will provide a competitive edge.
8% of organizations see augmented reality/virtual reality as a competitive technology.
7% of organizations think blockchain/distributed ledger will offer a competitive advantage, while 3% see the metaverse as providing a competitive edge.

Sources: (Statista)

Usage of Mobile Technology in Business Statistics

34% of small businesses implement mobile or tablet-based payment POS systems.
18% of small businesses rely on mobile apps to manage their operations.
47% of small businesses use social platforms for mobile advertising.
44% of small businesses maintain a mobile-optimized website
73% of small businesses leverage social media for marketing.
71% of small businesses utilize email marketing.

Source: (Constant Contact Mobile Techonology Survey 2013)

The future of technology in business statistics

75% say AI will help them start new businesses.
90% of prominent companies invest in AI
63% of executives believe cloud computing and services will be particularly important in the next 3-5 years.
61% of executives think mobile solutions will shape the near future.
57% of executives see the Internet of Things as a key technology for the next few years.
37% of executives expect cognitive computing to be significant in the near future.
28% of executives consider advanced manufacturing technologies important for the upcoming years.
23% of executives believe new energy sources and solutions will be vital in the next 3-5 years.
12% of executives think bioengineering will be an important technology in the near future.

Source: (IBM C-Suite Study)