In this article, we will be taking a look at the 20 largest companies in the world by market cap in 2024. If you want to skip our detailed analysis, you can go directly to 5 Largest Companies in the World by Market Cap in 2024.
The biggest companies in the world by market cap operate within various sectors, including energy, healthcare, retail, financial services, and technology. In fact, some of the top most valuable companies on our list, including Alphabet Inc. (NASDAQ:GOOGL), Apple Inc. (NASDAQ:AAPL), and Microsoft Corporation (NASDAQ:MSFT), are all part of the technology sector. Let's take a look at what’s going on in the global technology industry before we shift our attention to the largest companies in the world right now.
Information Technology Sector Soaring to New Heights
The technology sector plays a crucial role in driving innovation, efficiency, and competitiveness across various industries. It also allows businesses and corporations to enhance productivity, make faster and more informed decisions, and stay ahead in a rapidly evolving digital landscape. According to a report by The Business Research Company, the global information technology (IT) market was valued at $8.5 trillion in 2023. Looking forward, the market is expected to grow at a compound annual growth rate (CAGR) of 8.3% from 2024 to 2028 to reach a value of $12.41 trillion by the end of the forecast period.
The surge in demand for new and innovative technologies across various industries is a key factor creating a positive outlook for the market. Cloud computing and cloud services are driving innovation and scalability, enabling organizations to access resources flexibly and cost-effectively. Similarly, Artificial Intelligence (AI) is revolutionizing industries by enhancing automation, decision-making processes, and customer experiences. An increasing number of corporations and businesses are embracing digital technologies to streamline operations, improve efficiency, and stay competitive in a world that is becoming increasingly digital. Emerging technologies and innovations, including the Internet of Things (IoT), blockchain, and augmented reality, continue to create new growth opportunities.
Tech Giants in Action
The tech industry is dynamic and diverse. Some of the most prominent technology companies leading the way in innovation and development are Alphabet Inc. (NASDAQ:GOOGL), Apple Inc. (NASDAQ:AAPL), and Microsoft Corporation (NASDAQ:MSFT).
Technology companies are embracing emerging trends and focusing on developing innovative products and services. On February 2, Apple Inc. (NASDAQ:AAPL) announced that the Apple Vision Pro will be available at Apple Store locations throughout the US. Apple Vision Pro is a cutting-edge spatial computer that transforms how people work, connect, collaborate, relive memories, and enjoy entertainment. The new breakthrough product seamlessly merges digital content with the physical world, delivering immersive spatial experiences in visionOS. This advanced system is operated using a user’s eyes, hands, and voice, which are the most natural and intuitive inputs available.
As technology advances, industries worldwide are being revolutionized by AI and cloud services. On March 18, Microsoft Corporation (NASDAQ:MSFT) announced that it is expanding its collaboration with NVIDIA Corporation (NASDAQ:NVDA) to introduce generative AI, cloud services, and accelerated computing to healthcare and life sciences sectors. This collaboration merges Microsoft Azure's global reach and advanced capabilities with NVIDIA DGX Cloud and the NVIDIA Clara suite of computing platforms, software and services to drive innovation and enhance patient care. This collaboration between Microsoft Corporation (NASDAQ:MSFT) and NVIDIA Corporation (NASDAQ:NVDA) aims to provide healthcare providers, pharmaceutical companies, biotechnology companies, and medical device developers with opportunities to innovate swiftly across various areas, including clinical research, drug discovery, and care delivery.
Alphabet Inc. (NASDAQ:GOOGL) is an American multinational technology conglomerate that operates as a holding company. As the parent company of Google, it continues to invest in machine learning, analytics, and artificial intelligence (AI). On January 30, Alphabet Inc. (NASDAQ:GOOGL) reported strong earnings for the fiscal fourth quarter of 2023. The company reported earnings per share (EPS) of $1.64, surpassing EPS estimates by $0.04. The company’s revenue for the quarter grew by 13.49% year-over-year and amounted to $86.31 billion, ahead of market consensus by $1.03 billion. Here are some comments from Alphabet Inc.’s (NASDAQ:GOOGL) Q4 2023 earnings call:
“Last year brought new excitement around Gen AI and I'm proud of how we responded, responsibly with deep advances in foundation models and a number of great launches. We closed the year by launching the Gemini era, a new industry-leading series of models that will fuel the next generation of advances. Gemini is the first realization of the vision we had when we formed Google DeepMind, bringing together our two world-class research teams. It's engineered to understand and combine text, images, audio, video and code in a natively multimodal way and it can run on everything from mobile devices to data centers. Gemini gives us a great foundation. It's already demonstrating state-of-the-art capabilities and it's only going to get better. Gemini Ultra is coming soon.”
Now that we have looked at what’s going on at some of the biggest companies, let’s take a look at the 20 largest companies in the world by market cap in 2024.
20 Largest Companies in the World by Market Cap in 2024
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Methodology
In this article, we have listed the 20 largest companies in the world by market cap in 2024. To find the biggest companies in the world by market cap, we used the Yahoo Finance screener and sorted our screen in descending order of market cap. We then picked the 20 largest companies by market cap, as of March 18, 2024. For foreign companies, we converted the market caps to US dollars according to their respective exchange rates. The list is arranged in ascending order of companies' market caps as of March 18.
20 Largest Companies in the World by Market Cap in 2024
Exxon Mobil Corporation (NYSE:XOM) is an American multinational oil and gas corporation that ranks among the 20 largest companies in the world by market cap in 2024. The company is vertically integrated across the entire oil and gas industry. As of March 18, 2024, Exxon Mobil Corporation (NYSE:XOM) has a market cap of $445.58 billion.
Mastercard Incorporated (NYSE:MA) is an American payment-technology company. It is one of the most valuable fintech companies in the US. It offers a range of payment transaction processing and other related payment services. As of March 18, 2024, Mastercard Incorporated (NYSE:MA) has a market capitalization of $446.75 billion.
UnitedHealth Group Inc. (NYSE:UNH) is an American multinational health care and well-being company. It also ranks high among the best health insurance companies heading into 2024. As one of the world’s largest health insurance and services companies, UnitedHealth Group Inc. (NYSE:UNH) offers insurance products, health care services, and care delivery aided by technology and data through its brands UnitedHealthcare and Optum. As of March 18, 2024, it has a market capitalization of $449.02 billion.
17. LVMH Moët Hennessy Louis Vuitton SE (EPA:MC)
Market Capitalization: $472.73 Billion
LVMH Moët Hennessy Louis Vuitton SE (EPA:MC) is a French multinational holding company that specializes in luxury goods. It owns a number of luxury brands including Sephora, Tiffany & Co., Fendi, Givenchy, TAG Heuer, and Bulgari. As the most valuable luxury company in the world, LVMH Moët Hennessy Louis Vuitton SE (EPA:MC) has a market capitalization of $472.73 billion as of March 18, 2024.
Walmart Inc. (NYSE:WMT) is an American multinational retail corporation that operates a chain of hypermarkets, grocery stores, and discount department stores. It also owns and operates Sam’s Club retail warehouses. Operating approximately 10,500 stores and numerous e-commerce websites, Walmart Inc. (NYSE:WMT) has a presence in 19 countries. As one of the world’s top companies by market, it has a market capitalization of $490.09 billion as of March 18, 2024.
Tesla Inc. (NASDAQ:TSLA) is an American multinational automotive and clean energy company that ranks among the top 15 on our list of the largest companies in the world by market cap in 2024. It designs, manufactures, and markets electric vehicles, energy generation and storage systems, solar panels, and related products and services. As of March 18, 2024, Tesla Inc. (NASDAQ:TSLA) has a market capitalization of $553.51 billion.
JPMorgan Chase & Co. (NYSE:JPM) is an American multinational financial services company. It is a prominent name in investment banking, commercial banking, financial services for consumers and small businesses, financial transaction processing, and asset management. As the world’s largest bank by market capitalization, JPMorgan Chase & Co. (NYSE:JPM) has a market capitalization of $554.93 billion as of March 18, 2024.
Broadcom Inc. (NASDAQ:AVGO) is an American multinational technology company. It designs, develops, manufactures, and supplies a broad range of semiconductor, enterprise software, and security solutions. As of March 18, 2024, Broadcom Inc. (NASDAQ:AVGO) has a market capitalization of $573.36 billion.
Visa Inc. (NYSE:V) is an American multinational payment card services corporation that ranks 12th on our list of the largest companies in the world by market cap in 2024. It specializes in facilitating digital payments and electronic funds transfers throughout the world. Visa Inc. (NYSE:V) has a market capitalization of $585.51 billion as of March 18, 2024.
Novo Nordisk A/S (NYSE:NVO) is a Danish multinational healthcare and pharmaceutical company. It develops, produces, and markets pharmaceutical products in 170 countries around the world. As of March 18, 2024, Novo Nordisk A/S (NYSE:NVO) has a market capitalization of $593.01 billion.
10. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Market Capitalization: $708.75 Billion
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is a Taiwanese multinational semiconductor contract manufacturing and design company. It designs and manufactures a wide range of products for various applications covering a variety of end markets including high-performance computing, the Internet of Things (IoT), automotive, smartphones, and digital consumer electronics. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has a market capitalization of $708.75 billion as of March 18, 2024. It ranks among the top 10 on our list of the largest companies in the world by market cap in 2024.
Eli Lilly and Company (NYSE:LLY) is an American pharmaceutical company. As the most valuable drug company in 2024, it has a market capitalization of $724.65 billion as of March 18, 2024. Eli Lilly and Company (NYSE:LLY) markets its products in 120 countries around the world.
Berkshire Hathaway Inc. (NYSE:BRK-B) is an American multinational conglomerate holding company that ranks among the biggest companies in the world by market cap. The company is run by Warren Buffet and it owns a number of brands, including insurance and reinsurance brands. As of March 18, 2024, Berkshire Hathaway Inc. (NYSE:BRK-B) has a market capitalization of $885.83 billion.
Meta Platforms Inc. (NASDAQ:META), or simply Meta, is an American multinational technology. It owns and operates Instagram, Facebook, and WhatsApp, among other products and services. As one of the biggest companies in the world by market cap, Meta Platforms Inc. (NASDAQ:META) has a market capitalization of $1.26 trillion as of March 18, 2024.
Amazon.com Inc. (NASDAQ:AMZN) is an American multinational technology company. It specializes in e-commerce, online marketing, digital streaming, cloud computing, and artificial intelligence. Amazon.com Inc. (NASDAQ:AMZN) has a market capitalization of $1.81 trillion as of March 18, 2024. It ranks 6th on our list of the largest companies in the world by market cap in 2024.
