Smartsheet Named a Leader for Second Consecutive Year in 2024 Gartner® Magic Quadrant™ for Collaborative Work Management

Rhea-AI Summary

Smartsheet has been named a Leader in the 2024 Gartner Magic Quadrant for Collaborative Work Management (CWM) for the second consecutive year, achieving the highest position in Ability to Execute among all vendors. The company serves approximately 85% of the 2024 Fortune 500 companies, with the CWM market growing at an estimated 16% per year.

The platform received recognition as a Customers' Choice in the 2024 Gartner Peer Insights Voice of the Customer, with 97% of customers willing to recommend the platform. In October, Smartsheet launched a new user experience and innovative features to enhance team collaboration and improve outcomes at scale.

Positive

• Highest ranking in Ability to Execute for second consecutive year in Gartner Magic Quadrant
• Serves approximately 85% of Fortune 500 companies
• 97% customer recommendation rate according to Gartner Peer Insights
• Operating in a market growing at 16% annually

Negative

• None.

Insights

Market Research Analyst

The positioning as a Leader in Gartner's Magic Quadrant, particularly with the highest Ability to Execute, is a significant achievement in the enterprise software space. The 16% annual market growth rate for Collaborative Work Management (CWM) platforms signals robust sector expansion, driven by the sustained shift to hybrid work models.

Smartsheet's penetration into approximately 85% of Fortune 500 companies and a 97% customer recommendation rate demonstrate exceptional market adoption and customer satisfaction. The platform's enterprise-grade capabilities and AI enhancements position it strongly against competitors in a rapidly evolving market.

The new user experience and feature rollout announced in October shows continued product innovation, which is important for maintaining market leadership in the enterprise software sector. This strategic focus on product development should help maintain competitive advantages in a growing market.

Tech Expert

The technical evolution of Smartsheet's platform, particularly its AI enhancement capabilities and enterprise-grade features, represents significant competitive differentiation. The platform's ability to handle mission-critical operations while maintaining scalability demonstrates robust architectural design.

Integration capabilities with other applications and support for complex workflows are important technical advantages, especially for enterprise customers requiring seamless data flow across their technology stack. The platform's success in supporting diverse use cases - from marketing campaigns to hospital equipment deployment - showcases its technical versatility and reliability at scale.

The recent user experience improvements indicate a mature product development cycle focused on both functionality and usability, essential for maintaining leadership in enterprise software.

Smartsheet is positioned with the highest Ability to Execute for a second consecutive year

BELLEVUE, Wash.--(BUSINESS WIRE)-- Smartsheet, the AI enhanced enterprise grade work management platform, today announced it was named a Leader in the 2024 Gartner Magic Quadrant for Collaborative Work Management (CWM). For the second year, Smartsheet placed the highest in Ability to Execute of all vendors. The evaluation as a Leader was based on criteria that examined the company’s Completeness of Vision and Ability to Execute.

Smartsheet Named a Leader for Second Consecutive Year in 2024 Gartner® Magic Quadrant™ for Collaborative Work Management (Graphic: Business Wire)

According to the report, “the CWM market is growing rapidly at an estimated 16% per year,” citing increasing customer demand for flexible work support and remote and hybrid work among some of the factors that are leading to this increase. The report goes on to say, “Using a CWM tool to streamline work tasks may involve data integration with other applications, enabling control, visibility, automation and collaboration within otherwise fragmented value chains.” Gartner defines Leaders as those who, “continually enhance their offerings, delivering platforms that are functionally robust and demonstrably benefit customers… Furthermore, they cater to a variety of use cases and address emerging business challenges.”

Smartsheet empowers thousands of organizations worldwide, including approximately 85% of the 2024 Fortune 500 companies, to achieve peak performance, foster innovation, and accelerate results by aligning people, work, and content. Customers rely on Smartsheet’s AI-powered enterprise-grade platform, using it to run marketing campaigns, deliver and deploy diagnostic equipment across thousands of hospitals, build rockets, run numerous events across the globe, and more.

“Smartsheet is trusted in the collaborative work management category, and we believe this repeat recognition as a Leader in the Gartner Magic Quadrant for Collaborative Work Management affirms that the world's largest organizations depend on our platform to drive mission critical, enterprise scale projects, programs, and processes,” said Mark Mader, CEO of Smartsheet. “We will continue to innovate and deliver unprecedented value to our customers so that they can use it to push the boundaries of their missions and drive meaningful change in the world.”

This recognition is in addition to Smartsheet’s distinction as a Customers’ Choice in the 2024 Gartner Peer Insights™ Voice of the Customer in the Collaborative Work Management market for the second year. Smartsheet has the highest percentage of customers willing to recommend the platform (97%).*

Smartsheet is continuously innovating to enable its customers to operate at their peak. In October, the company announced a new user experience and a range of first-of-a-kind features that transform how teams collaborate and make it easier for everyone to drive better, faster outcomes at scale.

Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high, and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries, and Niche Players. The research enables businesses to get the most from market analysis in alignment with their unique business and technology needs.

Download a complimentary copy of the 2024 Gartner Magic Quadrant for Collaborative Work Management report here.

Gartner, Magic Quadrant for Collaborative Work Management, Nikos Drakos, Joe Mariano, Lacy Lei and Hironori Hayashi, December 2, 2024.

Gartner, Voice of the Customer for Collaborative Work Management, Peer Contributors, 24 May 2024.

*Rating based on 330 verified customer reviews as of March 31st 2024 in the collaborative work management category.

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Gartner does not endorse any vendor, product, or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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About Smartsheet

Smartsheet is the modern enterprise work management platform trusted by millions of people at companies across the globe, including approximately 85% of the 2024 Fortune 500 companies. The category pioneer and market leader, Smartsheet delivers powerful solutions fueling performance and driving the next wave of innovation. Visit www.smartsheet.com to learn more.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241205236101/en/

Media Contact

Lisa Henthorn

pr@smartsheet.com

Source: Smartsheet

FAQ

What recognition did Smartsheet (SMAR) receive in the 2024 Gartner Magic Quadrant?

Smartsheet was named a Leader in the 2024 Gartner Magic Quadrant for Collaborative Work Management, ranking highest in Ability to Execute for the second consecutive year.

What percentage of Fortune 500 companies use Smartsheet (SMAR) in 2024?

Approximately 85% of the 2024 Fortune 500 companies use Smartsheet's platform.

What is the customer recommendation rate for Smartsheet (SMAR) in 2024?

According to Gartner Peer Insights, 97% of Smartsheet customers are willing to recommend the platform.

What is the growth rate of the Collaborative Work Management market where Smartsheet (SMAR) operates?

The Collaborative Work Management market is growing rapidly at an estimated 16% per year.