In this article, we are going to list the 15 biggest tech companies in the world. Click to skip ahead and jump to the 5 biggest tech companies in the world.
Technology can be defined as the application of scientific research or knowledge for practical use. Technology has made our lives easier and better in so many ways. We have a smartwatch that doesn’t only track calories burned but also acts as a phone where you can text or call. We have super smart refrigerators nowadays that have a tablet where you can customize your fridge. And then someone thought, “why don’t we have a dual-screen laptop yet?”, and boom, it’s finally here together with a dual-screen smartphone. It has become an integral part of our daily lives. Technology keeps getting better and we won’t see it stopping anytime soon.
Globally, business and government purchases of tech goods and services are projected to reach more than $3,590 billion this year. One of the largest key players in the tech industry is the software segment which is projected to reach over $900 billion global value. The global technology industry includes telecommunications services, technology outsourcing, and hardware services, technology consulting and system integration services, software, electronic equipment, and computers. The continuous demand for high-end computers, software, and smartphones is fueling the growth of the industry.
With the biggest tech players in the world, how far have we become? In 2017, we discovered in our 10 Most Advanced Technologies in the World Today article about Google’s partnership with Novartis in developing digital contact lenses that could help the diagnosis of diabetic patients. Unfortunately, the project didn’t make it due to consistency problems. On the other hand, one of the biggest tech companies in the world, IBM (NYSE: IBM) partnered with Watson to develop an AI-like project that could help businesses make solid decisions, both personally and professionally, and rebranded it as “augmented intelligence”. In 2019, IBM successfully launched Cognos Analytics. It is an intelligence platform that facilitates the entire analytical cycle, from discovery to implementation.
Technology has established its role in creating innovative solutions to fight (and even adapt) climate change. According to a report in CNET News, the warming of the Arctic could cause the sea ice to disappear by 2040. SmartIce developed climate change adaptation tools that combine conventional sea ice knowledge with advanced data acquisition and remote monitoring technologies. On the other hand, biotech companies are also gaining popularity as every biggest pharmaceutical is rushing to release a vaccine for COVID-19 such as AstraZeneca (NYSE: AZN) and Pfizer (NYSE: PFE). You can learn more about companies alike in our article about the 15 Largest Biotech Companies in the World.
The pandemic is causing widespread concern and economic distress for consumers, companies, and countries all around the globe. And COVID-19 only sped up the adoption of digital technologies. According to a McKinsey Global Survey, several businesses have increased the digitalization of their supply-chain interactions and the share of digitally enabled products has displayed positive results too. Remote work, contactless payment for goods and services, distance learning, telehealth, online shopping, and robot deliveries. This is the new normal: technology-fueled businesses, goods, our life in general.
Today, the market value of the top 5 technology companies is more than $7 trillion. If these 5 companies were combined to make a sovereign nation, their combined market value would be bigger than the GDPs of all nations except the United States and China. This is just the beginning though. ARK Invest’s Cathie Wood who made a name for herself by investing in disruptive technologies and generating huge returns believes artificial intelligence could add more than $30 trillion to the market capitalizations of all companies globally. Artificial intelligence is just one of the disruptive emerging technologies right now. The technological advancements in genetic testing and individualized medicine, fintech, 3D printing, energy storage, and robotics will transform our lives over the next couple of decades. The growth rate in these technologies is exponential and human mind usually can’t comprehend the speed and magnitude of exponential growth (this spring when the coronavirus was spreading exponential, the number of cases were growing by 1000x over a 4 week period, but most people couldn’t see that coming).
We are in the early innings of a huge technological transformation. If Cathie Wood is right about the speed of technological change, we can see the market value of biggest technology companies grow by 10x within a couple of decades. By the way, Wood’s biggest stock position in her portfolio is Tesla Inc. (NASDAQ:TSLA). She believes Tesla will beat GOOGL to self-driving car dominance.
In order to provide you the most accurate ranking of the biggest tech companies in the world, we gathered the financial figures such as revenue, market cap, and assets from each of the tech companies’ financial statements available. We also excluded Chinese companies from this list as their financial records aren’t reviewed by PCAOB. Some of the largest tech companies in the world are included in our 10 best tech stocks to invest in right now.
Here are the biggest tech companies in the world starting at number 15:
15. Nintendo Co Ltd.
Revenue in billion $: 11.2
Market Cap: $49.7 B
Assets: $17.5 B
Headquarter: Kyoto, Japan
Nintendo is a multinational consumer tech company in Japan that develops game consoles. The company mainly engages in the development, manufacture, and sale of entertainment products in the home entertainment field. Some of its winning products are Nintendo GameCube, Wii, and Wii U. Washington-based Nintendo of America is a wholly-owned subsidiary of Nintendo Co., Ltd. Nintendo of America is also popular for its legacy systems, NES and Game Boy.