Walking into 2021, the world’s software companies or the IT industry, in general, witnessed a little glitch with regards to its overall revenue. In August 2020, the International Data Corporation (IDC) — the largest global provider of advisory services and market intelligence for IT companies — estimated the global revenue to be US$4.8 trillion, compared to the previous projection of US$5.2 trillion. Although the IT industry was way ahead compared to any other industry or sector during the COVID-19 crisis, the uncertainties that took place with respect to the postponement of key investments and the severe decline in spending patterns could not be disregarded.
Currently, IDC estimates that the IT industry is taking huge leaps and is on its way to US$5 trillion by the end of 2021. As technology continues to evolve and bring changes to the way people conduct business, it is now important that your business builds strong relationships with global tech brands.
Information Technology continues to alter our everyday lives and how business is conducted. Along with the new technological advancements and innovations, for instance, artificial intelligence (AI), blockchain, cloud computing, large statistics, and IoT (Internet of Things), the global IT market is projected to grow further.
Overview of the Global IT Industry
A recent study by Gartner stated that the overall spending in the global IT industry — including data center systems, telecommunication, business applications, and IT solutions and services — was estimated to be over US$3.7 trillion in 2019, marking a 4.5% increase than the previous year. The global IT spending began to surge in 2018, with persistent growth expected over the next few years.
Currently, the IoT is one of the greatest and fastest-growing segments in the global IT sector. It was estimated to be over US$700 million and is projected to exceed US$2 billion by the end of 2021, growing at a Compound Annual Growth Rate (CAGR) of 30% over the next five years. The top seven robotics companies globally are briefly discussed below, with an emphasis on their revenue and recent developments.
List of the World’s Largest Technology Companies in 2021
Apple, Inc. is an American multinational technology conglomerate that provides consumer electronics, including smartphones, tablets, laptops, headphones, computers, smartwatches, and many more. Initially, the company started manufacturing home computers and traditional models of personal computers. However, they achieved success when they launched the line of iPhones and iPads, making the company one of the wealthiest companies ever.
Today, the company is one of the most expensive companies in the technology sector with regards to its market capitalization, which stands at a whopping US$2.169 trillion. Besides, it is one of the most profitable companies with annual revenues of US$274.515 billion. Until mid-2019, the company was considered the most valuable company worldwide among all industries. Later, Saudi Armaco entered the list and moved the tech giant to second place.
Apple has tens of thousands of enthusiasts all around the globe that are ready to stand in a queue when it comes to the company’s high-end products. This is a big achievement that makes it one of the most successful and loved brands ever.
Amazon.com, Inc. is a U.S.-based multinational technology company that specializes in e-commerce, cloud computing, AI, and digital streaming. It is considered one of the Big Four tech companies, along with Microsoft, Google, and Apple. The company launched Amazon Web Services (AWS) in 2002, which is the world's most inclusive and broadly adopted cloud computing platform. AWS offers over 165 fully-featured services from data centers globally and is presently used by millions of customers.
Amazon has one of the highest employment numbers in the tech sector. Moreover, it is one of the largest companies with the most expensive stocks. The price of one Amazon share stands at over $3,000. Few consider Amazon to be more of a retail seller than a tech giant. However, the company’s cloud computing division brings about at least 15% of the overall revenue annually.
Microsoft is a U.S.-based multinational technology company that develops, manufactures, licenses, supports, and sells software, electronics, PCs, and related services. Valued over USD 1 trillion and reporting over USD 125 billion in revenues in FY2019, the company offers solutions on computer software and consumer electronics. It is one of the most expensive companies and brands globally.
Since its inception, the company has diversified its products and expanded its markets. Today, Microsoft offers smart devices, smartphones, operating systems for computers and laptops, PCs and laptops, productivity applications, management and development tools, business solution applications, computer games, and many more. Although their major focus had always been consumer electronics, in the last few years they have been focusing on cloud computing services, which considerably multiplied the company’s value.
The company’s cloud computing platform, called Microsoft Azure, is used by multiple organizations and developers to build, test, deploy, and manage applications and services. The platform offers many services in a wide range of categories such as IoT, AI and Machine Learning, Mixed Reality, Analytics, Databases, Blockchain, Databases, DevOps, Integration, Management, Identity, Media, Mobile, Microsoft Azure Stack, Security, Web, and a mix of Developer Tools.
Alphabet, Inc is a U.S.-based multinational technology conglomerate that offers several internet-based services and products, including cloud computing solutions, online ad technologies, software, hardware, and a search engine.
Probably, almost everyone has heard about Google at least once. However, a lot of people are not aware of the fact that in 2015 the search engine giant changed its official name to Alphabet, Inc. During that period, the company was already out of the scope of the Google search engine. Currently, over thirty well-known services and subsidiaries are part of Alphabet Holding.
Moreover, the company owns several interesting side businesses, including the life-extension company Calico or the smart home business Nest. Not to mention the Android Operating System. Plus, the company owns the Google Venture division, which essentially invests in startups, along with Google Capital for long-term projects. It doesn’t come as a surprise that Alphabet, inc. is one of the most trustworthy technology companies globally.
Just like AWS and Microsoft Azure, Google Cloud offers services in different categories such as AI and machine learning, compute, database, identity, data visualization, security, and DevOps, to name a few. Google offers its Cloud services in 20 regions, 61 availability zones, and more than 200 countries. In FY2019, the company reported revenues of almost USD 161.85 billion, of which Google Cloud contributed nearly USD 8 billion.
Facebook — a U.S.-based multinational technology conglomerate — is one of the fastest-growing businesses and one of the most valuable brands globally. Its market value of US$764 billion is an enormous indicator of popularity for a social media project. Currently, the platform is visited by over 2 billion people every day, which might just be the beginning of their global growth.
Research suggests that Facebook is the second most-accessed platform after Google. In recent years, Facebook focused on ways to expand into other markets, particularly on acquisitions. Today, the company owns several other popular projects, including WhatsApp, Instagram, Oculus VR, and Messenger.
IBM is a U.S.-based multinational technology company that provides cloud computing solutions, along with a range of other high-end technology products and solutions. The company has been at the forefront of business technology since the 1920s and offers a suite of technology solutions for businesses of all sizes.
The company provides multiple services in the form of Cognitive Computing, Blockchain, and the Internet of Things (IoT). These services are built on the foundation of IBM's AI and cloud platforms — Bluemix and Watson. Both the cloud computing platforms have emerged as the crucial differentiating factors for the company. IBM Watson is the much-awaited result of decades of research from the company in the fields of ML and AI, which primarily focuses on the advanced use cases regarding data and analytics. Besides, Bluemix delivers PaaS and IaaS solutions.
IBM reported its revenue as US$80 billion for the fiscal year 2019. Currently, the company’s revenue generation is achieved through its five sectors: Global Business Services (GBS), Cloud & Cognitive Software, Global Financing, Global Technology Services (GTS), and Systems. Its GTS division is responsible for all the IT services for its customers worldwide. These services consist of process outsourcing and maintenance of infrastructure and client systems. Its GBS division deals with consultancy, system integration, and project management solutions.
Alibaba Group Holding Ltd. is a Chinese multinational technology conglomerate that specializes in technology, e-commerce, retail, and the Internet. It is one of the largest online trading platforms in China and worldwide, gaining traction of buyers by both reasonable prices and a wide range of products and services presented. The company also specializes in providing electronic and cloud computing services, digital media, entertainment system, and an advanced search system for individuals.
Since its inception in 2009, Alibaba Cloud is recognized as the largest cloud provider in China. At first, it started as Alibaba's own e-commerce platform, but now it is made public. The cloud computing platform offers its services in various categories, including the IoT, cloud communication, elastic computing, database management services, data technology, security and monitoring, storage and CDN, domains and websites, analytics, media and entertainment services, and Apsara Stack.
The company offers its Cloud services in 19 regions and 56 zones globally. Alibaba, Inc.’s annual revenue is US$73 billion, of which Alibaba Cloud's revenue is USD 4.5 million.
The Bottom Line
There are several newly-established technology companies out there that are growing at a tremendous rate, looking to catch up with the tech giants. However, these big tech organizations have been around for decades, and the digital experiences they provide are an end-product of thousands of professionals and years of development. In any case, it is always a good idea to catch up with them.