AI is Fueling Brand Value Growth for Tech Firms
20%
Bets on AI is fueling brand value growth for tech firms like Nvidia, according to Kantar’s 2024 BrandZ rankings. The total value of the top-100 brands rose 20% this year to nearly $8.3 trillion, reversing a 2023 downturn. Nvidia surged 18 places to No. 6 with a 178% brand value increase, and AMD saw a 53% bump, highlighting AI's significant impact.
70%
As per eBay’s 2024 Recommerce Report report, Gen Z and millennials opt for circular fashion. More than 70% of consumers globally plan to buy used goods this year and 86% of shoppers have bought or sold a pre-loved item in the last 12 months. When a thrift word was included in the item description for accessories or apparel has seen a huge growth success of 400% globally from March 2023 to March 2024.
$8.14 B
The research from eMarketers March 2024 forecast revealed that in 2024, sponsored content will account for $8.14 billion in US creator revenues, up from $5.12 billion in 2021. US social media creator revenues will total $13.7 billion this year, a 16.5% increase over 2023. While creators diversify revenue streams, brand deals remain dominant, benefiting advertisers.
40%
Email open rates have surged dramatically since 2020, hovering around 40% for all tracked advertising sectors in Q4 2023, with home and garden leading at 41.6%. With the end of third-party cookies and regulatory crackdowns on data gathering, email marketing emerges as a crucial tool, as 62% of US B2B and B2C marketers increased their email marketing budgets in 2022 and 2023.
46%
Traditional search engine usage is declining, particularly among younger demographics who favor social media and mobile devices for information. Forbes Advisor and Talker Research found Gen Z is 25% less likely to use Google than Gen X, with only 64% using search engines for brand discovery compared to 94% of Baby Boomers. Nearly 46% of Gen Z and 35% of millennials prefer social media to discover new brands on social media daily. Additionally, 40% of Gen Z access the internet only on their cellphones.
15%
One of the biggest signs that IT is expanding beyond the data center is the rise of edge computing. Worldwide spending on edge computing is expected to reach $232 billion in 2024, a 15% increase over 2023, and projected to grow to nearly $350 billion by 2027. Edge computing offers faster application performance and reduced latency by processing data closer to its source, benefiting manufacturing, energy, retail, transportation, and defense sectors.
$2.4B
Databricks announced that the company is forecasting a 60% sales growth to $2.4 billion in annual revenue for the first half of fiscal 2025. This growth stems from new and existing customers. In March, Databricks reported $1.6 billion in revenue for the year ending Jan. 31, up over 50% year over year, with a 140% net revenue retention rate.