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From the statistics we researched, the tech industry makes up 35% of the total market. And it's steadily growing and has evolved with a good market size and industry outlook. This year's estimated growth rate is 5.3%. Over 500 thousand tech companies in the United States, and over 6,600 are in Silicon Valley.

Almost every company no matter which industry they're originally in depends on tech companies and their services. This can be hardware, software, online services, tools, or cybersecurity solutions.

Small Companies like Synopsys, an electronic design and software company focusing mainly on silicon design and software security in 2023. Since it was founded, it has acquired several companies, such as Black Duck and eSilicon. Synopsys has a market value of $ 43.63B and has dominated the Electronic Design & Verification industry.

Here is the list of the world's 20 biggest tech companies of 2023.

1. Microsoft

Microsoft is the tech giant Bill Gates and Paul Ellen founded in 1975. It produces consumer electronics and computer software and offers related solutions with a market value of $ 2,054.37B, Employee Size of 221,000. Their popular products are Microsoft, MS Office, Microsoft Teams, and Visual Studio.

2. Alphabet Inc.

Alphabet is a multinational conglomerate with $257.637B in annual revenue and the Biggest Tech Companies in the world. It has a market value of $ 1,581.72B and a huge employee size of 156,500.

The company also invested in various companies with different sizes and capabilities in the tech industry with smart home projects, self-driving cars, cloud-gaming systems, and more. Their popular products are Android, Google, and Youtube.

3. Amazon

Amazon, one of the most valuable companies in the world, was founded in 1994 by Jeff Bezos. Initially, it started as an online marketplace, and the company began to produce its own technological devices and offer cloud services over time. It is also listed as the best place for working and has an employee size of 1,608,000.

Amazon's market value is $1,468.4B, and its popular products include the Amazon Store, Amazon Prime, Amazon Web Services (AWS), and Alexa. It is the largest tech companies by market cap.

4. Apple

Another tech giant in the list is Apple, which is not very surprising. The company was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in the year 1976. Since then, it has produced various tech devices, from computers to wearables.

Apple is one of the World's Biggest Tech Companies. They have a wide range of favourite products, from iPhones to mac books, and a market value of $ 2,640.32B.

5. Atlassian

Atlassian is an Australian software company that produces tools mainly for software developers, project teams, and managers. It was founded in 2002 and is now one of the Top IT companies.

Atlassian has a market value of $ 62.18B and an employee size of 8,813. Despite the low employee size, they have some successful products like Jira, Trello, and Confluence.

6. Math Works

Math works is a mathematical computing software company known for its data analytics development. Its Chief Executive Officer heads it, and Co-Founder Jack Little was responsible for early versions of MATLAB and built the company into the powerhouse it is today.

7. Tencent Holdings

Tencent Holdings is a Chinese technology conglomerate founded 23 years ago. They are the founders of the popular game PUBG Mobile.

8. Cisco Systems

Born out of the difficulties of a husband and wife working at Stanford to communicate within the organisation, Cisco Systems is almost 40 years old today. Headquartered in San Jose, Silicon Valley, Cisco is an IT and networking company specialising in routers, switches, and cybersecurity.

The cybersecurity unit is the company's most valuable -and fastest growing- part. Last quarter, it increased its revenue by 14% last quarter.

Cisco Systems has an employee size of 79,500 and a market value of $ 213.36B.

9. Techasoft

Techasoft is a leading tech firm that accepts the disparity between education and employability. Considering the importance of education, leadership, and skill development in the hyper-competitive world, they also provide many IT-enabled educational services. Techasoft provides software development, mobile app development, digital marketing and website design & development services.

10. Meta Platforms

Launched by Mark Zuckerberg in 2004 to connect Harvard students, Facebook was an instant hit. In 2021, Facebook Inc. changed its name to Meta Platforms to emphasise its orientation to the metaverse. Virtual or augmented reality is the future, and Meta claims to help people exist there. They own other popular social media platforms like Instagram and Whatsapp also.

11. Oracle Corporation

Oracle is an American computer software company. They have a good market value of $ 203.34B and an employee size of 150,000. Oracle was founded in 1977 in California, but the corporate headquarters are in Austin, Texas now. They have more than 400,000 customers worldwide.

12. Broadcom Inc.

Broadcom's diverse product portfolio includes semiconductor and infrastructure software solutions. They Delivered the first high-speed digital optocouplers for hybrid and electric vehicles. Broadcom introduced the first commercially available LED dot matrix display and Introduced embedded fibre-optic solutions for IBM.

Broadcom has a good market value of $239.64B and an employee size of 20,000.

13. SAP

SAP is a leading software company focusing on business management solutions like data processing and information flow. It uses in-memory computing, enabling tremendous amounts of data to be processed fast and smoothly.

SAP software typically gathers and centralises data, which would be collected and analysed separately by each department/team. It helps to better understand and interpret collected data while increasing productivity. It doesn't matter whether you are a big corporate or a small company; you can get help from them.

14. Accenture

Accenture has been working with 89 Fortune 100 companies. It's also listed as one of the best workplaces for innovative people by Fast Company. It's not easy to be recognised as a successful company by business magazines and get featured. It is to be recognised and loved by those who got featured there.

They provide a wide range of services, from AI and cloud services to marketing, security, data & analytics services.

15. VMware

Founded in 1998 in Palo Alto, California, VMware is a cloud computing company. It provides multi-cloud services for all apps, and hybrid has become the new normal for most of us. No, I'm not talking about the half-time office, half-time home-office shifts. 73% of enterprises work with two -or more- cloud accounts.

Even though the wide use of cloud-based platforms and digital transformation is good news, they might bring possible security risks and productivity problems. VMware vSphere is a successful product of this company.

16. Adobe

Adobe is an American software company that provides all kinds of management solutions and creative tools. The company offers Creative Cloud services, with design and editing tools, such as InDesign, Photoshop, and Illustrator.

Experience Cloud is another successful product-based service for marketing and customer experiences, such as manager screens, marketing optimisation, real-time CDP, and analytics. Their market value is $ 193.1B, and their popular products include Adobe Acrobat, Adobe Photoshop, and Adobe Creative Cloud.

17. Salesforce

Salesforce is the world's #1 customer relationship management platform. It was founded in 1999 in California and later became one of the major tech companies. It acquired several companies, including Slack, Heroku, and Tableau Software. Salesforce has a market value of $ 169.72B.

18. Uber Technologies Inc.

Uber, one of the companies with a high-tech employment rate, is mobility as a service company. It was founded in 2009 and quickly grew to be one of the most successful start-ups of the last decade. Uber Technologies Inc. has a market value of $60.27B.

19. Shopify

Shopify, which emerged shortly after as a solution when its founders could not find an e-commerce platform that meets their needs for their commerce ventures, is now helping millions of businesses worldwide.

20. Zoom Video Communications

Zoom Video Communications is used, or at least heard about Zoom once in our lives, especially during the Covid-19 pandemic. But the company was founded in 2011 and is headquartered in San Jose, Silicon Valley.

You can connect your hybrid workforce, get closer to your users, and organise informative webinars. Zoom has the potential to be easily integrated with almost all industries. Healthcare, education, finance, and software. You're good to go if you work with or target people.

Growth and Change in Tech Market

Technology companies have become a dominant driver in recent years of economic growth, consumer tastes and the financial markets. For example, the most significant tech stocks as a group have dramatically outpaced the broader market in the past decade. Technology has reshaped how people communicate, consume information, shop, socialise, and work powerfully.

Data Security and Better Customer Experience

Technology solutions for business can help you better protect your corporate information. Network security threats are at an all-time high, costing the average small business approximately $3.92 million in damages. Tech support for small businesses can help create encryptions and firewalls that enhance your data security.

As the economy has become more specifically globalised, the potential markets for these companies have expanded well. This is where one decision can have ripple effects across industries and worldwide.