Top 3 Largest Tech Companies
In the present day, the technology sector is booming. With constant growth and the development of some of the largest technology companies, now is the time for market capitalization. Below are the 3 biggest tech companies, specialising in various fields within the technology industry. Data used within this article is from Statista, dating from April 2020.
Number 3 - Amazon
Founded by CEO Jeff Bezos as an online book retailer, the company has since expanded its reach into a variety of sectors, ranging from from smart assistants to audiobooks and now branching out into its new artificial intelligence venture, Amazon Prime Air. Although all of the above have their own holdings, none compare to that of Amazon’s ecommerce empire. Each of these investments have contributed greatly to Amazon’s market capitalization of $1,233.4bn, making it the first trillion dollar company on the list.
Number 2 - Apple
Apple has formed and shaped the way in which society now runs in day-to-day living. Modernising the use of telecommunications through the release of the iPhone back in 2007, its continued expansion into consumer electronics has now made the brand of Apple, one of the most globally recognised names. More recently, Apple has invested their time with the online streaming services, with its introduction of AppleTV+. Its market capitalisation now stands at $1,359bn.
Number 1 -Microsoft
Technology giant Microsoft features in many technological areas, most recently undertaking, alongside its competitors, an ever-increasing focus on cloud computing services; Microsoft Azure. Its market capitalisation is $1,684.8bn.
Non-IT experts ‘to build majority of tech products by 2024’
80% of technology products and services will be built by non-technology professions by 2024, says research firm Gartner.
This is according to a new report from Gartner, which claims a new category of buyers outside the traditional IT organisation is now responsible for a growing share of the overall IT market.
“Digital business is treated as a team sport by CEOs and no longer the sole domain of the IT department,” said Rajesh Kandaswamy, distinguished research vice president at Gartner. “Growth in digital data, low-code development tools and artificial intelligence (AI)-assisted development are among the many factors that enable the democratistion of technology development beyond IT professionals.”
COVID-19 Accelerating Technology
Technology has started expanding into all areas of business, creating demand for products and services outside IT departments. In 2023, Gartner anticipates that US$30 billion in revenue will be generated by products and services that did not exist pre-pandemic. Gartner analysts said the rapid expansion of cloud services, digital business initiatives, and remote services opened the door for new possibilities in integrations and optimisation.
The research found that COVID-19 also reduced barriers for those outside of IT to create technology-based solutions by providing an entry point for anyone who was able to serve pandemic-induced needs. Gartner said technology providers are now finding themselves increasingly entering markets related to, or in competition with, nontechnology providers, including innovative firms in financial services and retail.
Gartner expects high-profile announcements of technology launches from nontech companies to proliferate over the next 12 months.
“The availability of business technologists provides new sources of innovation and the ability to get work done. Thus, technology and service providers will need to extend their sourcing of ideas and technology development into new communities, whether they are based on citizen development, their own customer communities or other sources,” said Kandaswamy