In this article, we will be looking at the 20 most valuable IT companies in the world. If you want to skip our detailed analysis of the global Information Technology (IT) market, you can go directly to 5 Most Valuable IT Companies In The World.
The Information Technology (IT) industry is a rapidly growing industry that encompasses the development, production, and maintenance of computer systems, hardware, software, and other digital technologies. The IT sector has become an important part of the global economy, and it plays a vital role in enabling businesses of all sizes to operate and grow. You can also take a look at the top information technology countries in the world.
Information Technology (IT) Market Positioned for Strong Growth
IT companies are leading the way by developing new technologies such as cloud computing and artificial intelligence and driving innovation through them. The IT industry is a booming sector that is changing the way we live and work while also driving economic growth.
According to a report by The Business Research Company, the global information technology market’s value reached above $8.85 trillion in 2023. Looking forward, the market is expected to grow at a compound annual growth rate of 7.9% during 2023-2030, propelling the market to reach $12 trillion by the end of the forecast period. Large, small, and medium sized businesses are all increasingly embracing digital transformation as they hope to improve their productivity, efficiency, and customer satisfaction. The rise of digital transformation is leading to increased investments in IT solutions and services, which is creating a positive outlook for the market.
Emerging technologies such as Artificial Intelligence and Machine Learning are expected to further augment market growth. Businesses are increasingly investing in these technologies to gain a competitive advantage and improve their operations.
According to a report by Goldman Sachs Group, Inc. (NYSE:GS), the market interest in AI has increased dramatically and investments in AI are expected to grow in the coming years. Investments in AI can reach $200 billion globally by 2025.
What are Some of the Biggest Companies in the IT Industry Up To?
Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOGL), and Amazon.com Inc. (NASDAQ:AMZN) are some of the most prominent names in the global IT industry.
Due to the highly competitive nature of the market, IT companies are constantly innovating to stay ahead of the competition while also meeting the changing needs of consumers. On November 8, Reuters reported that Amazon.com Inc. (NASDAQ:AMZN) is investing heavily in training a large language model (LLM) codenamed “Olympus”. Rohit Prasad, as head scientist of artificial general intelligence at Amazon.com Inc. (NASDAQ:AMZN), brought in researchers who had worked on the Amazon science team and Alexa AI to work on training models and unite AI efforts across the company. Olympus has 2 trillion parameters and could rival top models from OpenAI and Alphabet Inc. (NASDAQ:GOOGL).
Earlier this year, Alphabet Inc. (NASDAQ:GOOGL) launched its generative AI chatbot called Bard that competes with OpenAI’s ChatGPT. The company continues to invest in AI. Here are some comments from Alphabet Inc.’s (NASDAQ:GOOGL) Q3 2023 earnings call:
“As we expand access to our new AI services, we continue to make meaningful investments in support of our AI efforts. We remain committed to durably re-engineering our cost base in order to help create capacity for these investments in support of long-term sustainable financial value.”
On October 24, Alphabet Inc. (NASDAQ:GOOGL) reported strong earnings for the fiscal third quarter of 2023. The company reported earnings per share (EPS) of $1.55, surpassing EPS estimates by $0.10. The company reported a revenue of $76.69 billion and outperformed revenue estimates by $945.43 million.
Some of the IT companies are expanding into new markets and acquiring companies to expand their product offerings and customer base. On October 13, Reuters reported that Microsoft Corporation (NASDAQ:MSFT), the owner of the video gaming brand Xbox, completed its $69 billion acquisition of Activision Blizzard, adding popular titles such as Call of Duty to its portfolio to better compete with major players in the video gaming market. Microsoft Corporation (NASDAQ:MSFT) also ranks among the most valuable video game companies in the world.
Now that we have looked at what some of the leading IT companies are up to, let’s take a look at the 20 most valuable IT companies in the world.
20 Most Valuable IT Companies In The World
Methodology
In this article, we have listed the 20 most valuable IT companies in the world. To find the most prominent IT companies, we sifted through various sources including industry reports and consulted the Yahoo Finance and FINVIZ stock screeners. We then used Yahoo Finance to find each company’s market capitalization. For foreign companies and their market caps, we converted them to US dollars according to their respective exchange rates on November 9, 2023. Finally, we narrowed down our selection to rank the top 20 most valuable IT companies in the world based on their market capitalization, which are listed below in ascending order.
20 Most Valuable IT Companies In The World
20. Intel Corporation (NASDAQ:INTC)
Market Capitalization: $162.15 Billion
First up on our list of 20 most valuable IT companies in the world is Intel Corporation (NASDAQ:INTC). It is an American multinational corporation that designs and develops technology products and components. Intel Corporation’s (NASDAQ:INTC) product offerings include microprocessors, chipsets, flash memory, graphic, conferencing, and network and communication products. The corporation has a market capitalization of $162.15 billion as of November 9, 2023.
Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOGL), and Amazon.com Inc. (NASDAQ:AMZN) hold a strong market position in the global IT industry.
19. SAP SE (NYSE:SAP)
Market Capitalization: $168.21 Billion
SAP SE (NYSE:SAP) is a German multinational software company that is one of the world’s leading enterprise resource planning (ERP) software vendors. The company’s IT services and software help businesses of all sizes and industries to streamline their operations, improve efficiency, and increase profitability. As of November 9, 2023, SAP SE (NYSE:SAP) has a market capitalization of $168.21 billion.
18. Advanced Micro Devices Inc. (NASDAQ:AMD)
Market Capitalization: $186.11 Billion
Advanced Micro Devices Inc. (NASDAQ:AMD), also known as simply AMD, is an American multinational company that specializes in producing semiconductors and computer processors for business and consumer markets. It also manufactures flash memories, chipsets, flash memories, and other related technologies. As one of the most valuable IT companies in the world, Advanced Micro Devices Inc. (NASDAQ:AMD) has a market capitalization of $186.11 billion as of November 9, 2023.
17. Accenture Plc (NYSE:ACN)
Market Capitalization: $198.52 Billion
Headquartered in Dublin, Ireland, Accenture Plc (NYSE:ACN) is an Irish-American professional services company that specializes in information technology services and consulting. The company provides a variety of services and operates business processes for enterprise functions including sourcing and procurement, supply chain, marketing, sales, and finance and accounting. As of November 9, 2023, Accenture Plc (NYSE:ACN) has a market capitalization of $198.52 billion.
16. Salesforce Inc. (NYSE:CRM)
Market Capitalization: $206.17 Billion
Based in the US, Salesforce Inc. (NYSE:CRM) is a cloud-based software company. headquartered in San Francisco, California. It provides customer relationship management (CRM) software and applications with a focus on marketing, sales, analytics, customer service, e-commerce, and application development. Salesforce Inc. (NYSE:CRM) has a market capitalization of $206.17 billion as of November 9, 2023.
15. Cisco Systems Inc. (NASDAQ:CSCO)
Market Capitalization: $210.87 Billion
Cisco Systems Inc. (NASDAQ:CSCO), or simply Cisco, is a US-based multinational digital communications technology conglomerate. It offers IT products and services for networking, collaboration, data center, security, and the Internet of Things. With a market capitalization of $210.87 billion as of November 9, 2023, Cisco Systems Inc. (NASDAQ:CSCO) ranks among the top 15 most valuable IT companies in the world.
14. Alibaba Group Holding Limited (NYSE:BABA)
Market Capitalization: $214.99 Billion
Alibaba Group Holding Limited (NYSE:BABA) is a Chinese multinational technology company that provides internet infrastructure, electronic commerce, online financial, and internet content services. Alibaba Group Holding Limited (NYSE:BABA) has a market capitalization of $214.99 billion as of November 9, 2023.
13. ASML Holding N.V. (NASDAQ:ASML)
Market Capitalization: $255.63 Billion
ASML Holding N.V. (NASDAQ:ASML), or simply ASML, is a Dutch multinational corporation that specializes in the development, production, marketing, sale and servicing of advanced semiconductor equipment, including lithography related systems. It primarily caters to the makers of computer chips. With a market capitalization of $255.63 billion as of November 9, 2023, ASML Holding N.V. (NASDAQ:ASML) ranks among some of the most valuable IT companies in the world.
12. Adobe Inc. (NASDAQ:ADBE)
Market Capitalization: $265.91 Billion
Based in the US, Adobe Inc. (NASDAQ:ADBE) is a multinational computer software company. The company offers a line of products and services used by businesses, consumers, and professionals for creating, managing, and engaging with content across various digital media formats. Adobe Inc. (NASDAQ:ADBE) has a market capitalization of $265.91 billion as of November 9, 2023.
11. Oracle Corporation (NASDAQ:ORCL)
Market Capitalization: $308.26 Billion
Oracle Corporation (NASDAQ:ORCL) is a multinational computer technology corporation based in the US. It is best known for its software products and services like Java but it also offers cloud-engineering services and systems as well as database management systems. As of November 9, 2023, Oracle Corporation (NASDAQ:ORCL) has a market capitalization of $308.26 billion.
10. Samsung Electronics Co. Ltd. (OTC:SSNLF)
Market Capitalization: $356.32 Billion
Samsung Electronics Co. Ltd. (OTC:SSNLF) is a South Korean multinational corporation that is best known for its smartphones. It also specializes in information technology, mobile communications, device solutions and other related consumer electronics. Samsung Electronics Co. Ltd. (OTC:SSNLF) has a market capitalization of $356.32 billion as of November 9, 2023, and ranks among the top 10 most valuable IT companies in the world.
9. Broadcom Inc. (NASDAQ:AVGO)
Market Capitalization: $376.06 Billion
Based in the US, Broadcom Inc. (NASDAQ:AVGO) is a multinational corporation that designs, develops and supplies semiconductor and infrastructure software solutions. The company powers some of the most complex IT environments in the world with its product offerings that include data center networking, storage, monitoring and security, smartphone components, and enterprise and mainframe software focused on automation. As of November 9, 2023, Broadcom Inc. (NASDAQ:AVGO) has a market capitalization of $376.06 billion.
8. Tencent Holdings Ltd. (HKG:0700)
Market Capitalization: $376.79 Billion
Tencent Holdings Ltd. (HKG:0700) is a major internet and technology company based in China. The company offers various internet based products and services including FinTech, video games, music, cloud computing, advertising, and social media and messaging products. Tencent Holdings Ltd. (HKG:0700) has a market capitalization of $376.79 billion as of November 9, 2023.
7. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Market Capitalization: $477.15 Billion
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is a multinational semiconductor design and manufacturing company that is headquartered in Hsinchu, Taiwan. The company offers its products for various applications in a number of markets including smartphones, high performance computing, the Internet of Things (IoT), and digital consumer electronics. As of November 9, 2023, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has a market capitalization of $477.15 billion.
6. Meta Platforms Inc. (NASDAQ:FB)
Market Capitalization: $821.79 Billion
Meta Platforms Inc. (NASDAQ:FB) is a multinational technology conglomerate that has a market capitalization of $821.79 billion as of November 9, 2023. It owns and operates Instagram, Facebook, and WhatsApp, as well as other related products and services.
Some of the top tech stocks to invest in according to hedge funds include Amazon.com Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOGL), and Microsoft Corporation (NASDAQ:MSFT).
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Disclosure: None. 20 Most Valuable IT Companies In The World is published on Insider Monkey.