Today, the technology sector is one of the most powerful, shaping the global economy, contributing to development, and defining global trends. Therefore, our list includes the biggest and most expensive companies from different areas of the digital industry, such as software, hardware, media, e-commerce, telecommunications, and others.
European Technology Companies
Unlike other continents, it can be said that Europe is a scarier country when it comes to innovation. High unemployment and tight labor markets in countries like Spain and Italy are nothing short of obstacles to fostering innovation and entrepreneurship. The main consumers of European tech companies are the technological giants of the world. And often, companies do not have the right to disclose the names of their customers and sometimes the details of projects.
Europe as a whole now has more than 144,000 startups, of which over 43,000 have completed at least one funding round this year. About 15,000 of them have raised less than $2 million, and only 74 companies have raised more than $250 million in funding:
- UK start-ups attracted the most funding at $12.5 billion, down almost $1 billion from last year, but still much more than in other major European economies.
- German startups raised $5.4 billion ($6.9 billion in 2019).
- France has become the only European economy this year to see start-up investments grow by $5.2 billion compared to last year ($4.8 billion in 2019), a record figure for the country. Investment growth was also shown by Sweden, Finland, and Belgium.
- Spain showed the largest drop in investment, from $1.6 billion in 2019 to $636 million this year.
The Main Sources of European Tech Companies for Digital Transformation
Growth driven by innovation and digital transformation in European tech companies has five sources:
- New sales markets.
- Introduction of new goods and services.
- New methods of production and distribution.
- Changes in productive factors.
- Changes in the organization and management of companies.
This rating mentioned in the next paragraph has a special meaning at the moment of a real revolution (digital and technological) that we are experiencing. This revolution consists of changing the economy based on analog technologies and sectors with traditional production methods versus others dominated by new information technologies.
Which Are the Top Ten Tech Companies in Europe?
A quick way to determine how hot a company is to evaluate its financial speed – in other words, is the company capable of raising the next round quickly? Of course, it is logical that the hottest companies find funding quickly because investors want to enter the project, having appreciated their good results (user/customer growth, profits, etc.). Among the top ten tech companies in Europe are:
- Accenture (Ireland) – $39.1B.
- SAP (Germany) – $27.4B.
- Capgemini (France) – $14.35B.
- ATOS (France) – $14.3B.
- T-Systems (Germany) – $7.74B.
- Computacenter (UK) – $5.74B.
- Amadeus IT Group (Spain) – $5.5B.
- Micro Focus (UK) – $4.8B.
- Spotify Technology (Luxembourg) – $4.6B.
- Sopra Steria (France) – $4.59B.
Such inspiring numbers are actually not surprising. They fully correspond to the trends in the development of the world economy. The economy is transforming: if earlier the main asset was land, mines, or factories, now it has become information. The resource is people, not those who do hard work on the land, factory, or mine, but those who know how to turn data into information, information into knowledge.
