Comparing the current results to its competitors, New Relic Inc reported Revenue increase in the 2 quarter 2023 by 6.67 % year on year. The revenue growth was below New Relic Inc 's competitors' average revenue growth of 10.46 %, achieved in the same quarter.
New Relic Inc 's Comment on Competition and Industry Peers
We operate in a highly competitive industry that is characterized by constant
change and innovation. Changes in the applications and the programing languages
used to develop applications, devices, operating systems, and technology landscape
result in evolving customer requirements.
Our competitors fall into four primary categories:
performance monitoring providers such as AppDynamics, Inc. (an operating division
of Cisco Systems, Inc.), Datadog, Inc., Dynatrace LLC, and Splunk Inc.;
diversified technology companies such as International Business Machines Corporation,
Microsoft Corporation, and Oracle Corporation;
large enterprise software and service companies such as BMC Software, Inc. and
CA, Inc.; and
companies offering analytics products competing with our New Relic Insights product,
including Amazon Web Services, Inc., and Google Inc.
The principal competitive factors in our market include:
product and platform features, architecture, reliability, security, performance,
effectiveness, and supported environments;
product extensibility and ability to integrate with other technology infrastructures;
digital operations expertise;
ease of use of products and platform capabilities;
total cost of ownership;
adherence to industry standards and certifications;
strength of sales and marketing efforts;
brand awareness and reputation; and
focus on customer success.
We believe we generally compete favorably with our competitors on the basis of
these factors. Many of our competitors have substantially greater financial, technical,
and other resources, greater name recognition, larger sales and marketing budgets,
broader distribution, and larger and more mature intellectual property portfolios.
Microsoft Corporation operates as a multinational technology company focused on software development, licensing, and related services. Its business model includes the creation and distribution of software products like operating systems and productivity suites, along with cloud-based solutions. Revenue is generated through hardware sales (such as gaming consoles), advertising, and consulting services.
UiPath Inc. operates on a software-as-a-service (SaaS) model, providing a platform that enables organizations to automate and streamline their business processes through robotic process automation (RPA) technology. By offering a flexible and scalable solution, UiPath simplifies the implementation of automation tasks, improving productivity and efficiency for businesses across various industries.
Sources:
New Relic Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: publicly traded companies.
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