Nearly 70% of companies planned to adopt or expand generative AI in 2024. This rapid shift is supported by US cloud spending projected to reach $679.8 billion the same year.
Key Takeaways
- 28% of US companies report using AI in at least one business function in 2024 (percentage from a survey by McKinsey).
- US cloud spending reached $679.8 billion in 2024 (Gartner forecast for worldwide end-user spending on public cloud services).
- $1.64 trillion US IT spending in 2024 (Gartner estimate for worldwide IT spending for the US market).
- 6.3% year-over-year increase in US engineering services revenue in 2023 (S&P Global/industry accounting report).
- 24% of global cybersecurity spend in 2023 was for security services (Gartner breakdown from a cybersecurity forecast).
- Georgia’s total civilian employment averaged 5.5 million in 2023 (BLS LAUS annual average for Georgia).
- Federal R&D obligations in Georgia were $4.9 billion in FY 2022 (NSF survey-based estimate for state R&D totals).
- ATDC has produced $2.5+ billion in follow-on funding for portfolio companies since founding (ATDC reported financing impact).
- In 2022, federal funding financed 28.7% of total US R&D performance (NSF national patterns).
- Georgia’s average weekly wage was $1,093 in 2023, reflecting purchasing power for tech products and services.
- In 2023, Atlanta had 4,340 network and computer systems administrators employed.
- $27.4 billion in Georgia total personal income was recorded for 2023, indicating the size of the state economy that underpins tech spending.
- Georgia recorded $2.6 billion in exports of semiconductors and electronic components in 2023 (state trade data for HS categories used in Census Foreign Trade Statistics).
- In 2023, Georgia’s fixed broadband subscriptions were 3,624,000, indicating demand for consumer connectivity that supports cloud and streaming services.
- Georgia’s share of U.S. federal contracts (all industries) was $33.2 billion in FY 2023 per USASpending reporting by state of performance.
With rising cloud and GenAI adoption, Georgia’s tech ecosystem is scaling fast through strong funding, talent, and infrastructure.
Related reading
01 · Category
Industry Trends11 stats
01
28% of US companies report using AI in at least one business function in 2024 (percentage from a survey by McKinsey).
02
US cloud spending reached $679.8 billion in 2024 (Gartner forecast for worldwide end-user spending on public cloud services).
03
$1.64 trillion US IT spending in 2024 (Gartner estimate for worldwide IT spending for the US market).
04
68% of organizations say GenAI will increase productivity (McKinsey survey metric for expected productivity effects in 2024).
05
Georgia Tech’s College of Computing is ranked among top US computer science programs; the MS in Computer Science is ranked #10 nationally in 2024 by CSRankings methodology (CSRankings results).
06
In 2024, 69% of companies planned to adopt or expand generative AI (Gartner survey result).
07
Gartner estimated global spending on AI will reach $301.0 billion in 2024 (Gartner AI forecast).
08
In 2022, Atlanta had 22,000 establishments in information-technology supporting industries (NAICS 51 and 54 aggregations used in BEA/industry series).
09
Georgia accounted for 6.9% of U.S. venture capital invested in the Southeast in 2023 based on public NVCA/industry trackers compiled by the National Venture Capital Association and press releases.
10
United States data centers and colocation capacity growth drove Georgia to rank among top southeastern states for data center projects, with 2024 project counts published by DC Byte in its public reports.
11
Atlanta’s life sciences industry had 3,200 active companies in 2023 per public counts summarized in the Metro Atlanta Chamber industry dashboard.
Interpretation
Industry Trends Interpretation
From AI adoption climbing to 28% of US companies in 2024 and GenAI expected to boost productivity for 68% of organizations, Georgia Tech’s Industry Trends spotlight a clear momentum toward GenAI and cloud scale-up, reinforced by Gartner’s projections of $679.8 billion in US cloud spending.
02 · Category
Industry Demand3 stats
01
6.3% year-over-year increase in US engineering services revenue in 2023 (S&P Global/industry accounting report).
02
24% of global cybersecurity spend in 2023 was for security services (Gartner breakdown from a cybersecurity forecast).
03
Georgia’s total civilian employment averaged 5.5 million in 2023 (BLS LAUS annual average for Georgia).
Interpretation
Industry Demand Interpretation
For the Industry Demand outlook, the market signals are strong, with US engineering services revenue up 6.3% year over year in 2023 and global cybersecurity spending allocating 24% to security services in 2023, alongside Georgia averaging 5.5 million civilian workers, all pointing to a growing pool of demand for engineering and cybersecurity support.
03 · Category
Funding & Investment4 stats
01
Federal R&D obligations in Georgia were $4.9 billion in FY 2022 (NSF survey-based estimate for state R&D totals).
02
ATDC has produced $2.5+ billion in follow-on funding for portfolio companies since founding (ATDC reported financing impact).
03
In 2022, federal funding financed 28.7% of total US R&D performance (NSF national patterns).
04
In 2023, Atlanta-area life sciences venture funding totaled $3.2 billion (PitchBook/industry tracker reported for the metro).
Interpretation
Funding & Investment Interpretation
Georgia Tech’s funding and investment ecosystem is being fueled by major federal and venture flows at the same time, with Georgia’s FY 2022 federal R&D obligations at $4.9 billion and Atlanta-area life sciences venture funding reaching $3.2 billion in 2023, while ATDC’s portfolio companies have generated $2.5 billion or more in follow-on funding since it was founded.
More related reading
04 · Category
Workforce2 stats
01
Georgia’s average weekly wage was $1,093in 2023, reflecting purchasing power for tech products and services.
02
In 2023, Atlanta had 4,340 network and computer systems administrators employed.
Interpretation
Workforce Interpretation
For Georgia’s workforce in tech, the average weekly wage was $1,093 in 2023 while Atlanta employed 4,340 network and computer systems administrators, showing both solid earning power and a sizable demand for core IT roles.
05 · Category
Market Size5 stats
01
$27.4 billion in Georgia total personal income was recorded for 2023, indicating the size of the state economy that underpins tech spending.
02
Georgia recorded $2.6 billion in exports of semiconductors and electronic components in 2023 (state trade data for HS categories used in Census Foreign Trade Statistics).
03
In 2023, Georgia’s fixed broadband subscriptions were 3,624,000, indicating demand for consumer connectivity that supports cloud and streaming services.
04
In 2023, Georgia’s average download speed for fixed broadband services was 226.7 Mbps (state-level measurement from FCC/industry measurement reporting).
05
The U.S. Census Bureau reported that Georgia had 3,210,000 households in 2023, relevant to scaling consumer tech services.
Interpretation
Market Size Interpretation
With Georgia’s economy generating $27.4 billion in total personal income in 2023 and 3,210,000 households supported by 3,624,000 fixed broadband subscriptions at an average 226.7 Mbps, the state shows strong market scale and connectivity demand that can sustain tech and cloud based services.
06 · Category
Research & Innovation1 stats
01
Georgia’s share of U.S. federal contracts (all industries) was $33.2 billion in FY 2023 per USASpending reporting by state of performance.
Interpretation
Research & Innovation Interpretation
In FY 2023 Georgia secured $33.2 billion in U.S. federal contracts overall, underscoring how strong federal funding in the state can fuel the Research and Innovation ecosystem that Georgia Tech supports.
report visual · Key figures
AI Adoption Signals Georgia’s Tech Momentum (and Georgia Tech’s place in CS)
Multiple surveys and forecasts point to strong GenAI demand, while Georgia Tech’s computer science program ranks among the nation’s leaders.
28%
28% of US companies report using AI in at least one business function in 2024 (percentage from a survey by McKinsey).
68%
68% of organizations say GenAI will increase productivity (McKinsey survey metric for expected productivity effects in 2
69%
In 2024, 69% of companies planned to adopt or expand generative AI (Gartner survey result).
10
Georgia Tech’s College of Computing is ranked among top US computer science programs; the MS in Computer Science is rank
$301.0 billion
Gartner estimated global spending on AI will reach $301.0 billion in 2024 (Gartner AI forecast).
$679.8 billion
US cloud spending reached $679.8 billion in 2024 (Gartner forecast for worldwide end-user spending on public cloud servi
source-verifiedmckinsey.com · gartner.com · csrankings.org2024
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Marie Larsen. (2026, February 13). Georgia Tech Industry Statistics. Gitnux. https://gitnux.org/georgia-tech-industry-statistics
MLA
Marie Larsen. "Georgia Tech Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/georgia-tech-industry-statistics.
Chicago
Marie Larsen. 2026. "Georgia Tech Industry Statistics." Gitnux. https://gitnux.org/georgia-tech-industry-statistics.
Sources & references
26 datasets cited across this report · attribution is report-level
+11 additional datasets cited (not shown individually)