In today’s world, technology is the most powerful sector which is shaping the world economy by setting new trends and driving transformational changes across all business segments. It is really very difficult to imagine the world without Technology.
We have compiled a list of the world’s top 20 companies by revenue that is primarily associated with the tech industry which includes software, hardware, electronics manufacturing, artificial intelligence, semiconductors, internet and related services, and e-commerce.
20 Biggest Tech Companies in the World by Revenue
It is obvious for many people to think that most of these big tech companies are US-based. However, there has been phenomenal change off late wherein few Asian companies are also featured in the tech top ten giving tough competition to their US counterparts.
Here goes our list of the Top 20 Biggest Tech Companies in the World as of 2023:
1. Apple – $274.51 Billion
Apple Inc, a Cupertino-based American tech company is the world’s most profitable company and most successful brand with revenue of $274.51 billion dollars as of 2021. It has been founded in the year 1976 by three tech wizards – Steve Wozniak, Ronald Wayne, and Steve Jobs.
Apple was initially engaged in the segment of the personal computer which later grew exponentially after its huge success when it entered into the mobile phone segment. Apple Inc which started with Laptops and iPhones has now diversified into a wide range of products like Smartwatch, iPod tablets, Television, Accessories, etc.
Apple has a big fan base of millions of users across the world who stand for hours together outside Apple stores to grab its products during their launch. Apple is one of the most admired brands in the history of corporate America.
2. Samsung Electronics – $200.73 Billion
Samsung is Seoul, South Korea-based multinational electronics company which is the world’s largest mobile phone manufacturing company.
It is a big conglomerate that not only makes electronics devices such as batteries, IC chips, hard disk, image sensors, cameras, etc. but also ships, aircraft engines, turbines, and life insurance.
Samsung is the biggest competitor to Apple Inc’s in the mobile phone segment with its flagship brands like Galaxy S, Z and note Series, etc which contributes 40% to the top line of the company.
3. Alphabet – $182.52 Billion
It is most likely that people who use the internet have definitely heard about Google.
Alphabet Inc, an American multinational company is the parent company of Google LLC and several other subsidiary companies. California-based Google Inc. is the undisputed leader in the search engine segment worldwide with a market share of 91.9% as of 2022.
Alphabet invests in interesting & innovative projects like self-driving cars, life-extension R&D company Calico, smart home project Nest, etc. Google, one of the most trusted tech companies founded by Larry Page and Sergey Brin in 1998 when they were studying at Stanford University.
4. Foxconn – $181.94 Billion
Foxconn is a Taiwanese electronics contract manufacturing company headquartered in New Taipei City. Foxconn is one of the world’s largest employers providing employment to 1.29 million workers across the globe and it is the largest private-sector employer in China.
Foxconn which was founded in 1974, caters to almost all major brands and manufactures customized electronic products as per the requirement by the vendor.
Some of the notable products made by the company are iPad, iPhone, Kindle, Nintendo, BlackBerry, Google Pixel, Redmi phones, PlayStation, etc.
5. Microsoft – $143.01 Billion
Microsoft is one of the most expensive brands in the tech industry and also the second-largest company in the world. Microsoft, which was founded in the year 1975 by Bill Gates and Paul Allen, is the world leader in the field of the personal computer software market.
The Microsoft Windows operating system was a runaway success that generated huge profits for the company.
Microsoft which is now headed by Satya Nadella is focusing on innovative technologies like blockchain, machine learning, artificial intelligence, and cloud computing.
6. Huawei – $129.18 Billion
Huawei Technologies is a Chinese technology company that is a consumer electronics manufacturer and caters to the telecom industry. Huawei designs, develops, and sells telecommunications equipment to world telecom major companies like British Telecom, Motorola, Bell Canada, Vodafone, etc.
Huawei which was founded in the year 1987 by Ren Zhengfei started reselling private branch exchange (PBX) in its initial years.
Huawei is now a telecom behemoth that makes Mobile phones, fixed broadband networks, Smart TV, Tablet computers, Dongles, Smartwatch, etc.
7. Dell Technologies – $92.22 Billion
Dell technology is an American tech major specializing in the personal computers market. Dell offers a huge range of products which includes servers, data storage devices, network switches, computer accessories, SmartTV, cameras, printers, etc.
Founded by Michael Dell in the year 1984, Dell technologies is known for its innovations in supply chain management and direct sales e-commerce model.
8. Meta Platforms – $85.96 Billion
California-based Meta Platforms Inc, the parent company of social media giant Facebook is the world’s most popular social networking site. Facebook was founded by Mark Zuckerberg in the year 2004 and has acquired many social media companies like Instagram, WhatsApp, Oculus in the recent past.
Meta Platforms Inc recorded the highest ever sales of $85.96 billion in 2021 since its inception. It employs 71,970 associates worldwide. FB has approximately 2.91 billion monthly active users as of 2022.
Recently Facebook underwent a rebranding exercise to prioritize metaverse ambitions.
9. Sony – $84.89 Billion
Sony Group Corporation also referred to as Sony is a Japanese consumer electronics conglomerate. It is one of the world’s largest makers of consumer electronics and the world’s largest video game console company and publisher.
Sony commands a lion’s share of 55 percent in the image sensor market. Sony is the world’s largest manufacturer of image sensors and the second-largest camera manufacturer. In the premium TV segment, Sony TV is a world leader.
In terms of annual revenue, Sony ranks third in television manufacturing. Masaru Ibuka started an electronics shop in 1946 who was joined later by co-founder Akio Morita to start Tokyo Tsushin Kogyo, Ltd which later changed its name to Sony.
10. Hitachi – $82.34 Billion
Hitachi, Ltd is a multinational technology conglomerate from Japan having a business interest in Information Technology, Artificial Intelligence, the Internet of Things, and big data.
Tokyo headquartered Hitachi was founded by Namihei Odaira in 1910 which started making induction motors used for copper mining.
11. Intel – $77.86 Billion
Intel Corporation is a US-based multinational technology company that is the world leader in the semiconductor chip segment by revenue.
Intel has a long pipeline of products which includes Central processing units (CPU), Microprocessors, Integrated graphics processing units (iGPU), Systems-on-chip (SoCs), Motherboard chipsets, Modems, Wi-Fi, Bluetooth, etc.
Incorporated in the year 1968, the company’s major clientele list includes the world’s major PC companies like Lenovo, HP, and Dell which are powered by Intel processors. Famous engineer Gordon E. Moore who is known for “Moore’s law” was the founder of Intel.
12. IBM – $73.62 Billion
International Business Machines Corporation which is commonly referred to as IBM is a US-based multinational technology having operations in more than 171 countries. IBM’s main focus is on Research and Development having record annual patents filed by the company in the US for almost 28 consecutive years.
IBM manufactures and sells computer hardware, software, and also provides hosting and consulting services in mainframe computers to nanotechnology.
IBM has invented many tech products like automated teller machines (ATM), floppy disks, magnetic stripe cards, hard disk drives, relational databases, UPC barcodes, and dynamic random-access memory (DRAM).
13. Tencent – $69.86 Billion
Tencent is a Chinese conglomerate tech company that is also a venture company and an investment holding company. Tencent Holdings is a significantly large company not only in the gaming industry but also in various other segments where it operates like mobile games, music, web portals, e-commerce, Internet services.
Tencent was founded in the year 1998 by five members – Pony Ma, Zhang Zhidong, Xu Chenye, Chen Yidan, and Zeng Liqing. It is headquartered in the Nanshan District of Shenzhen. Tencent Music has 660 million active users and it employs 85,800 people.
14. Panasonic – $63.19 Billion
Panasonic Corporation which was formerly known as Matsushita Electric Industrial Co is a Japanese major consumer electronics company that was a world leader until the late 20th century. Panasonic was initially into lightbulb socket manufacturing when it was founded in the year 1918 by Kōnosuke Matsushita.
Panasonic has a wide range of products like electronics products like rechargeable batteries, Television, home appliances, automotive and industrial systems with an interest in construction and real estate.
15. Lenovo – $60.74 Billion
Lenovo is a Chinese multinational technology company that designs, develops, manufactures, and sells PC, Tablets, Smartphones, Servers, Supercomputers, IT management software, and Smart televisions.
As of 2022, Lenovo is the world’s largest personal computer vendor by unit sales.
16. HP Inc. – $56.63 Billion
HP Inc. is a Palo Alto-based US tech major which is a world leader in the PC and printer segment. HP was earlier known as Hewlett-Packard.
HP manufactures Personal Computers, Printers, Scanners, 3D printing solutions, and related supplies.
17. LG Electronics – $53.62 Billion
LG Electronics Inc. is a South Korean multinational electronics company headquartered in Yeouido-dong, Seoul, South Korea.
Since 2008, LG Electronics remains the world’s fourth-largest LCD television manufacturer. The company has 128 operations worldwide.
18. TSMC – $51.44 Billion
Taiwan Semiconductor Manufacturing Company, Limited (TSMC) is Taiwan based multinational company that manufactures semiconductors. It is Taiwans’ largest company located in Hsinchu Science Park in Hsinchu.
TSMC is the world’s most valuable company in the semiconductor segment.TSMC was founded in the year 1987 by Morris Chang and it is presently owned by foreign investors.
19. Cisco – $49.80 Billion
Cisco Systems, Inc. is an American tech giant headquartered in San Jose. Cisco designs and manufactures networking hardware equipment, software, telecom equipment, etc.
Cisco has specialization in niche tech markets like the Internet of Things (IoT), domain security, and energy management.
20. Xiaomi – $47.7 Billion
Xiaomi Corporation is a Chinese electronics major which was founded just ten years back in April 2010. MI phones are its flagship product in the smartphones segment.
Xiaomi sells tech products like Smartphones, Smartwatches, Smart TV, Laptops, and consumer products like home appliances, bags, shoes, etc.
We will be updating our list for 2023 as soon as we get new data around the revenues of different tech companies.