In this article, we will list the top 20 mid-cap tech companies in the US. If you want to skip our discussion about the tech industry, visit the Top 7 Mid-Cap Tech Companies in the US.
The worldwide expenditure on technology is projected to reach $11.47 trillion by 2026. This depicts an expected 7.75% compound annual growth rate (CAGR) over five years starting in 2022 when the yearly spending on technology was $8,51 trillion.
Although the tech industry faced some challenges in 2023, it forged forward and came out strong. The year was also marked by considerable anticipation regarding the capabilities of artificial intelligence (AI). However, in the year 2024, companies are looking to prioritize AI in their strategies to surpass competitors.
This is the year of AI deals and partnerships which could shape the future. It is already being reported that Apple, Inc. (NASDAQ:AAPL) is in talks with Alphabet, Inc. (NASDAQ:GOOG) for Gemini-powered features on iPhones. Gemini is a generative artificial intelligence chatbot developed by Google.
Moving forward, spending on software and IT services backed by cloud computing and cyber security is expected to dominate the market. Tech companies will continue to experiment with different AI-related applications. In a survey by Deloitte, 52% of tech leaders stated that AI will be the primary technology in 2024. At 47%, an overwhelming proportion of tech leaders also vouched for could computing. In addition, 27% of the respondents were…
