In this article, we will take a look at the 25 most valuable tech companies outside the US. If you want to skip our detailed analysis of the global tech industry, you can go directly to 5 Most Valuable Tech Companies Outside The US.
The Global Tech Market
The United States is one of the world’s biggest tech markets in the world. Silicon Valley in California is home to many of the world's largest technology corporations. The US is a world leader in tech across a variety of sectors. According to estimates by SelectUSA and the International Trade Administration (ITA), approximately one-third of the $5 trillion global information technology (IT) market is situated within the United States. The US is also one of the most advanced countries in computer technology.
However, there are also significant tech companies based outside the US. These giant technology corporations drive innovation and economic growth on a global level. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), ASML Holding N.V. (NASDAQ:ASML), and SAP SE (NYSE:SAP) are some of the biggest tech companies outside the US that are pushing boundaries and shaping the future of the global tech industry.
According to a report by MGI Research, global tech spending was $8.51 trillion in 2022. The market is expected to grow at a compound annual growth rate (CAGR) of 7.75% over a period of 5 years, pushing global tech spending to reach $11.47 trillion by 2026. The surge in demand for various technology solutions and applications, such as EdTech, FinTech, and MedTech, is a key factor driving growth in the global tech market. Businesses and organizations across various sectors are also increasingly investing in IT services, software products, and digital solutions.
The importance of technology and innovation as a leading source of competitive advantage, coupled with significant investment in emerging technologies, is shaping the growth trajectory of the global tech market. As technology becomes increasingly integral to business operations, tech companies around the world are expected to experience enhanced growth opportunities.
A Quick Look at Some of the Biggest Tech Companies Outside the US
Some of the most notable tech companies outside the US that are poised to reap the benefits of increased investments in technology are Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), SAP SE (NYSE:SAP), and ASML Holding N.V. (NASDAQ:ASML).
ASML Holding N.V. (NASDAQ:ASML) is a Dutch multinational corporation that provides chipmakers with hardware, software, and related services. Specializing in the development and manufacturing of photolithography machines that are used to produce computer chips, the company is a leading supplier for the global semiconductor industry. ASML Holding N.V. (NASDAQ:ASML) also ranks among the best tech stocks for the next 5 years. On January 24, ASML Holding N.V. (NASDAQ:ASML) reported strong earnings for the fiscal fourth quarter of 2023. The company reported earnings per share (EPS) of $5.66, surpassing EPS estimates by $0.46. The company’s revenue for the quarter grew by 12.24% year-over-year and amounted to $7.88 billion, ahead of market consensus by $372.82 million.
Semiconductors are an essential component of modern electronic devices, enabling technological advancements in various sectors such as computing, communications, healthcare, transportation, clean energy, and many other applications. On February 6, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) announced that the company along with Sony Semiconductor Solutions Corporation, DENSO Corporation (TYO:6902), and Toyota Motor Corporation (NYSE:TM) has announced additional investment in Japan Advanced Semiconductor Manufacturing, Inc. (JASM), Taiwan Semiconductor Manufacturing Company Limited‘s (NYSE:TSM) majority-owned manufacturing subsidiary in Japan, to build a second semiconductor fabrication plant. The second fab is scheduled to begin operation by the end of 2027. The overall investment, exceeding $20 billion, with support from the Japanese government, aims to meet rising customer demand and improve overall cost structure and supply chain efficiency.
Tech companies are also investing in Artificial Intelligence (AI) due to the technology’s potential to revolutionize industries, create new opportunities, and drive sustainable growth. SAP SE (NYSE:SAP) is a German multinational software company and one of the world’s largest providers of enterprise resource planning (ERP) software. On January 30, SAP SE (NYSE:SAP) announced a collaboration with the Sky Computing Lab at the University of California, Berkeley, to support the university's advanced research on interconnected cloud technology in the context of AI. This partnership will help accelerate SAP SE’s (NYSE:SAP) AI strategy aiming to develop hundreds of applications. The insights from UC Berkeley's research will contribute to shaping and enhancing the company's AI capabilities.
Now that we have discussed briefly what’s going on in the global tech market, let’s take a look at the 25 most valuable tech companies outside the US.
25 Most Valuable Tech Companies Outside The US
An entrepreneur presenting the latest technology innovation in electrical components.
Methodology
In this article, we have listed the 25 most valuable tech companies outside the US. To find the biggest tech companies in the world, we sifted through various sources including industry reports and consulted stock screeners from Yahoo Finance and Finviz. For this piece, we excluded all the American technology companies. We then used Yahoo Finance to find each company’s market capitalization as of February 9, 2024. For foreign companies and their market caps, we converted them to US dollars according to their respective exchange rates. Finally, we narrowed down our selection to rank the top 25 most valuable tech companies outside the US based on their market capitalization, which are listed below in ascending order.
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Spotify Technology S.A. (NYSE:SPOT) is a Swedish entertainment technology company. It is one of the world’s most popular audio streaming and media service providers. The company ranks among the top 25 most valuable tech companies outside the US. Spotify Technology S.A. (NYSE:SPOT) has a market capitalization of $47.46 billion as of February 9, 2024.
24. MediaTek Inc. (TPE:2454)
Market Capitalization: $47.51 Billion
MediaTek Inc. (TPE:2454) is a Taiwanese fabless semiconductor company that ranks among the top tech companies outside the US. It is one of the world’s largest fabless semiconductor companies and a major provider of chips for wireless communications, electronic devices, and consumer multimedia products, among other things. As of February 9, 2024, MediaTek Inc. (TPE:2454) has a market capitalization of $47.51 billion.
23. Adyen N.V. (AMS:ADYEN)
Market Capitalization: $49.3 Billion
Adyen N.V. (AMS:ADYEN) is a Dutch payment technology company. As a financial technology platform, it provides businesses around the world with end-to-end payment capabilities, data enhancements, and related financial products and services. Adyen N.V. (AMS:ADYEN) has a market capitalization of $49.3 billion as of February 9, 2024.
22. Meituan (HKG:3690)
Market Capitalization: $53.36 Billion
Meituan (HKG:3690) is a Chinese tech-driven retail company. It provides a platform that uses technology to connect consumers and merchants. The company’s retail services also include entertainment, dining, delivery, travel, and other services. As of February 9, 2024, Meituan (HKG:3690) has a market capitalization of $53.36 billion.
Atlassian Corporation (NASDAQ:TEAM) is an Australian-American software company that is headquartered in Sydney, Australia. It designs and develops various software products for software developers and project managers, among other groups. As one of the most valuable tech companies outside the US, Atlassian Corporation (NASDAQ:TEAM) has a market capitalization of $55.02 billion as of February 9, 2024.
20. Constellation Software Inc. (TSE:CSU)
Market Capitalization: $58.75 Billion
Constellation Software Inc. (TSE:CSU) is a Canadian software company. It is an international provider of market-leading software and services to a number of public and private sector markets. With a market capitalization of $58.75 billion as of February 9, 2024, Constellation Software Inc. (TSE:CSU) ranks among the top 20 on our list of the most valuable tech companies outside the US.
NXP Semiconductors N.V. (NASDAQ:NXPI) is a Dutch semiconductor designer and manufacturer. The company provides technology solutions for the automotive, industrial, mobile, and communication infrastructure markets. As one of the top tech companies in the world, NXP Semiconductors N.V. (NASDAQ:NXPI) has a market capitalization of $60.2 billion as of February 9, 2024.
18. Dassault Systèmes SE (EPA:DSY)
Market Capitalization: $63.72 Billion
Dassault Systèmes SE (EPA:DSY) is a French multinational software corporation. It specializes in the development of software for 3D product design, simulation, manufacturing, and other 3D-related products and services. Dassault Systèmes SE (EPA:DSY) has a market capitalization of $63.72 billion as of February 9, 2024.
17. Nintendo Co. Ltd. (TYO:7974)
Market Capitalization: $67.89 Billion
Nintendo Co. Ltd. (TYO:7974) is a Japanese multinational video game company. It is also engaged in the development, manufacture, and sale of video game consoles and home entertainment products. As one of the top most valuable tech companies outside the US, Nintendo Co. Ltd. (TYO:7974) has a market capitalization of $67.89 billion as of February 9, 2024.
NetEase Inc. (NASDAQ:NTES) is a Chinese internet technology company. Centered around content, it is a major provider of online computer and mobile games, advertising services, and e-commerce platforms. NetEase Inc. (NASDAQ:NTES) has a market capitalization of $68.76 billion as of February 9, 2024.
15. SK hynix Inc. (KRX:000660)
Market Capitalization: $73.79 Billion
SK hynix Inc. (KRX:000660) is a South Korean manufacturer of memory chips that ranks among the top 15 on our list of the most valuable tech companies outside the US. It is one of the world’s biggest semiconductor companies and one of the largest memory chipmakers. As of February 9, 2024, SK hynix Inc. (KRX:000660) has a market capitalization of $73.79 billion.
Headquartered in Uruguay and incorporated in the US, MercadoLibre Inc. (NASDAQ:MELI) is an Argentine company that is primarily focused on e-commerce, financial services, and related services. It is one of the biggest e-commerce and fintech companies in Latin America. MercadoLibre Inc. (NASDAQ:MELI) has a market capitalization of $88.08 billion as of February 9, 2024.
13. Tokyo Electron Limited (TYO:8035)
Market Capitalization: $92.28 Billion
Tokyo Electron Limited (TYO:8035) is a Japanese electronics and semiconductor company. As one of the top tech companies in the world, it develops and manufactures semiconductor production equipment and industrial electronics products. Tokyo Electron Limited (TYO:8035) has a market capitalization of $92.28 billion as of February 9, 2024.
12. Keyence Corporation (TYO:6861)
Market Capitalization: $107.89 Billion
Keyence Corporation (TYO:6861) is a Japan-based direct sales organization that supplies industrial automation and inspection equipment. It develops and manufactures sensors, measuring systems, laser markers, microscopes, and machine vision systems. Keyence Corporation (TYO:6861) has a market capitalization of $107.89 billion as of February 9, 2024. It ranks 12th on our list of the most valuable tech companies outside the US.
Shopify Inc. (NYSE:SHOP) is a Canadian multinational e-commerce company. It is a complete commerce platform that lets anyone start, manage, and scale an online store and business. As of February 9, 2024, Shopify Inc. (NYSE:SHOP) has a market capitalization of $112.89 billion.
10. Schneider Electric S.E. (EPA:SU)
Market Capitalization: $118.05 Billion
Schneider Electric S.E. (EPA:SU) is a French multinational company that specializes in digital automation and energy management. It ranks among the top 10 on our list of the most valuable tech companies outside the US. Schneider Electric S.E. (EPA:SU) has a market capitalization of $118.05 as of February 9, 2024.
Arm Holdings plc (NASDAQ:ARMH) is a British semiconductor and software design company. As one of the top tech companies in the world, it offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services. As of February 9, 2024, Arm Holdings plc (NASDAQ:ARMH) has a market capitalization of $118.44 billion.
Sony Group Corporation (NYSE:SNE) is a Japanese multinational conglomerate corporation. The group is made up of entities such as Sony Corporation, Sony Semiconductor Solutions, Sony Entertainment, Sony Pictures, Sony Music Group, Sony Interactive Entertainment, Sony Financial Group, and others. Sony Group Corporation (NYSE:SNE) is best known for its electronic products. As one of the most valuable companies outside the US, it has a market capitalization of $119.01 billion as of February 9, 2024.
Pinduoduo Inc. (NASDAQ:PDD) is a Chinese online retailer with a focus on the agriculture sector. It is an online technology platform and marketplace that connects millions of agricultural producers with consumers. As of February 9, 2024, Pinduoduo Inc. (NASDAQ:PDD) has a market capitalization of $169.36 billion.
Alibaba Group Holding Limited (NYSE:BABA) is a Chinese multinational technology company. It specializes in e-commerce, retail, and technology infrastructure. As one of the top tech companies in the world, it ranks 6th on our list of the most valuable tech companies outside the US. Alibaba Group Holding Limited (NYSE:BABA) has a market capitalization of $180.05 billion as of February 9, 2024.
