Enterprises have been keeping their IT teams busy.
Between the growing number of multi-cloud networks and remote work environments, the market is experiencing an increased demand for cloud computing, data service providers, and cybersecurity firms.
With the industry buzzing, we’ve seen advertising spend from these companies soar.
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IT companies have funding and long shopping lists
Towards the beginning of the pandemic, CEO of Microsoft, Satya Nadella said, “We’ve seen two years’ worth of digital transformation in two months. From remote teamwork and learning, to sales and customer service, to critical cloud infrastructure and security—we are working alongside customers every day to help them adapt and stay open for business in a world of remote everything.”
As companies adapt to a world of ‘remote everything,’ investors have been pouring funds into tech.
Aviatrix is one of the most recent recipients of new funding—with a $75M Series D round. Though the total valuation of the company is currently at $700 million, CEO Steve Mullaney, thinks that it will be worth tens of billions. (Mullaney is most known for selling software-defined networking (SDN) Nicira to VMware for $1.3 billion.)
Mullaney believes the market is undergoing such massive change that the veteran leaders like Cisco and Juniper will be replaced with an entirely new breed of cloud-native networking services.
While cloud-native companies receive rounds of funding to expand, traditional companies are taking asset inventories with the goal of upgrading outdated hardware and solutions.
“Technology leaders are starting to rethink planning and purchasing decisions. They need to think through all of the ways that business could change and make sure that the technology that they’re deploying gives them the flexibility to manage through these changes” explains Christian Nascimento, vice president of product management at Comcast Business.
Purchasing decisions will include a range of connectivity solutions for employees—at a greater, more flexible scale. Knowing that IT teams have funds and long shopping lists to match, how are workplace management enterprises targeting buyers?
In the IT category (that specifically encompass cloud computing, application service providers, cyber and digital security, and data storage), spend in the B2B space for the months of January and February is up 45%.
This hefty increase is found across both print and digital formats. Print was up
86% ($373k in 2021 vs $200k in 2020) and digital was up 39% ($2.3mm in 2021 vs $1.6mm in 2020).
Though there were 158 brands who spent across print and digital, the top 10 IT spending brands have only spent digital spaces so far. Their ad spend accounts for 64% of all digital spend January – February 2021.
Top brands include:
- IBM Cloud
- Microsoft Azure
For additional details on how each of these brands are spending, where, and creative examples, try a custom demo of MediaRadar. With detailed insights, your team can build the right relationships and develop effective pitches.
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