as leader G2’s market research teamI had the honor of speaking at a much-anticipated conference G2 arrives in 2023 event.
In this session, I have the opportunity to share how G2’s Software Marketplace truly reflects customer insights and market trends, and can serve as a valuable resource for go-to-market (GTM) strategies.
Before I dive into some of the highlights from the conference, I want to thank our market research team and the differentiated approach we take. At G2, we pride ourselves on being the authoritative destination for buyers in the market, presenting real customer voices and perspectives through real-time information.
G2 reviews (more than 24,000 of them all!) don’t just document experiences; they document experiences. They are clear road signs that guide companies to realize the value of their investments in software and services.
Because we have access to this information, G2 Market Research can instantly understand what is actually happening in the software.In my talk, I dive into some of the latest insights from G2’s inaugural conference software statusand how we can advance visualization in the growing field of artificial intelligence.
5 major markets driving software growth
The first edition of our State of Software report provides insights into the fastest-growing software markets of the past year and current trends, and is an important source for anyone striving to stay informed and relevant. As you can see in the full report, according to G2, the five fastest-growing software markets (in descending order) are:
- #5 Fastest Growing Software Market: Safety. In today’s digital age, the need for robust security solutions continues to grow. Accelerating threat mitigation, managing misconfigurations and unpatched vulnerabilities, and integrating security in the emerging IoT device market are just some of the key capabilities in today’s security landscape.
- #4 Fastest Growing Software Market: marketing. Marketing practices have revolutionized over the past few years. Emerging technologies enable the creation of innovative marketing platforms that prioritize personalized promotion and powerful analytics.
- #3 Fastest Growing Software Market: human Resources. Shifts in the HR software market illustrate the shift toward an employee-centric workplace. As organizations adopt remote and hybrid formats, HR software is becoming a key element in improving employee satisfaction and productivity.
- #2 Fastest Growing Software Market: design. The growth of design software has been fueled by the proliferation of consulting practices and digital content production. Ubiquitous digitization will only fuel this growth.
- The fastest growing software market ranks No. 1: AI. Artificial intelligence is arguably the most exciting field, driving untapped possibilities. Its diverse utility has fueled the explosive growth in the adoption of artificial intelligence-driven software.
Visualizing AI through G2 taxonomy
The fastest-growing software market—perhaps not surprising given all the hype it’s experienced over the past year—deserves some extra reflection. On G2, AI is growing the fastest Across all 26 premium software markets – growing more than twice as fast as the next fastest market (design)! Between September 1, 2022 and September 1, 2023, a total of 643 new products were added to the artificial intelligence category.
Given this rapid growth, the complexity and evolving nature of the field of artificial intelligence can be very difficult to understand. To solve this problem, we introduced the concept of “AI City” – a visual representation of G2’s AI category classification to cultivate a more engaging and interactive learning experience.
We track the hottest areas of AI through the AI heat map, which shows that generative AI, specifically AI chatbots and content generation, is the current trend. Stay tuned for more information on this and future iterations of our visualization taxonomy.
Shaping the future of the G2 software market
While artificial intelligence is advancing rapidly, other markets and categories are also evolving rapidly. At G2, we understand the importance of staying current with changing market trends. That’s why we continually update our categories by tracking new additions and changes to existing categories.
Our research process includes insights from diverse sources, including vendor input, to ensure our understanding of the software market is comprehensive and up-to-date. Keep an eye out for our regular insights into these evolving areas of software.
G2 is more than just a platform that adds value to businesses; it’s a community that fosters dialogue in the software industry. G2 Marketplace is a forum where users and vendors can contribute their unique perspectives on new or existing categories to gain a more complete understanding of the market.
On behalf of our market research team, I’d like to express my gratitude to everyone who contributes to our marketplace through reviews, category feedback, and new product submissions. Keep providing feedback and ideas – we’re all ears!
Feel free to connect with me on LinkedIn to check out our Q4 2023 State of Software report, and if you missed our live stream, check out my recording of the G2 Reach 2023 session.
