Technology company
| Company type | Business enterprise |
|---|---|
| Industry | Technology |
| Products | Technology products and services including computing, telecommunication, consumer electronics, digital electronics, software development, optics, renewable energy, Internet-based services such as cloud storage and e-commerce |
A technology company (also known as a tech company) is an enterprise that concentrates on the manufacturing, support, and research and development of products and services rich in technological content, often within sectors like computing, telecommunication, and consumer electronics. These organizations encompass areas such as digital electronics, software development, optics, renewable energy, and Internet-based services including cloud storage and e-commerce. The term Big Tech identifies the six largest corporations—Nvidia, Microsoft, Apple, Alphabet, Amazon, and Meta—mostly headquartered in the United States and recognized worldwide, with four located in Silicon Valley.
Details
By 2020, the top ten technology companies ranked by revenue included: Apple Inc., Samsung, Foxconn, Alphabet Inc., Microsoft, Huawei, Dell Technologies, Hitachi, IBM, and Sony. Although Amazon reported greater revenue than Apple, it is categorized under retail by Fortune. The most profitable technology firms in 2020 featured Apple Inc., Microsoft, Alphabet Inc., Intel, Meta Platforms, Samsung, and Tencent.
The dominant U.S.-based Big Five—Apple Inc., Alphabet Inc. (owner of Google), Meta Platforms (owner of Facebook), Microsoft, and Amazon.com, Inc.—control critical Internet services and e-commerce platforms. In 2017, their combined market capitalization surpassed $3.3 trillion, accounting for more than 40% of the value of the Nasdaq-100 index.
Top technology companies allocate substantial resources to innovation and research. PwC’s 2017 Global Innovation 1000 report revealed that nine out of the twenty most innovative companies were tech-related, with Amazon leading in R&D spending, followed by Alphabet Inc. and Intel.
Prominent technology firms and startups have contributed to the creation of major tech hubs globally, including Silicon Valley (San Francisco Bay Area), Silicon Wadi (Israel), Silicon Docks (Dublin), Silicon Hills (Austin), Tech City (London), Digital Media City (Seoul), Zhongguancun (Beijing), Cyberjaya (Malaysia), and Cyberabad (Hyderabad).
See also
- List of largest technology companies by revenue
- Big Tech, the largest global IT companies
- Deep tech
- Dot-com company
- Outline of technology