How many technology companies in the US are there? You may ask. There are many other industries other than the tech industry in the American economy.
But that said, the tech industry is among the most prominent sectors.
You may wonder about the number of technology companies in the United States.
Amongst a lot of conflicting data, we can come to certain deductions to get a fair idea about it.
In 2022 the revenue of the technology industry across the world has crossed $5.3 trillion to date.
And, this industry is expected to continue with a growth rate of 5% to 6% annually. With the decline of the COVID-19 pandemic, things are looking up.
It is worthwhile to note that technology is one of the sectors that emerged relatively unscathed by the adverse market conditions during the pandemic.
We can afford to be a bit optimistic about the situation.
So, the answer to how many technology companies in the US are there, several statistics exist leading to a ballpark figure
How Many Technology Companies in The US 2024?
To get some idea of the answer to this question, we can go back to 2021 when the number of tech companies in the US was recorded as at least 585,000.
Zippia provided data at the end of 2021 suggesting that the market value of the tech industry in the United States was $1.6 trillion.
It amounts to approximately 35% of the entire tech companies in the world.
Some Interesting Data About the Tech Industry in the United States
We can safely assume that the tech industry drives the economy of the United States. Moving in line with this, here is some interesting data:
The tech industry surprisingly moved forward during the COVID-19 pandemic rather than falling behind.
In the United States, the technology sector accounts for 7.9% of the employment.
People working for tech companies earn approximately 85% more than those working in other industries.
Further, in Wyoming, it has been estimated that earnings drawn by employees in the tech sector are 32% higher than in other sectors.
The tech sector is more prominent than the non-durable sector or the retail sector.
It is huge and 2020 data features the tech sector to have contributed 10.5% to the GDP of the United States.
It has been roughly 10% or more since 2018.
This makes the tech sector a huge contributor to the growth of the economy in the United States.
Different Tech Companies in Various Technology Sectors
So, as you can see, technology is growing faster than in many other sectors. You can imagine that some sectors are growing the fastest.
Here are some statistics that feature the fastest-growing companies in the United States:
It has been projected that the blockchain sector 2025 will have 67.3 growth.
Artificial Intelligence (AI)
The growth rate has been projected for the AI sector as 42% by 2025.
Virtual Reality & Augmented Reality (VR & AR)
Here we have the highest projection amongst all the tech sectors. It has been estimated that VR & AR will grow by 100%.’
Growth Rate of Top Tech Companies in the United States
Let’s get into the details of some of the most well-known tech companies in the United States. The details are as follows:
Apple is a company based out of California and needs no introduction. It occupies the top position in market value with an estimated value of $2,780 billion.
Established in 1976, by Steve Jobs, Ronald Wayne, and Steve Wozniak, this company has a huge global presence today.
Microsoft which has its headquarters in Washington occupies a market share of $2,311. It was also founded in the seventies in 1975 by Bill Gates and Paul Allen.
Next on the list is Google’s parent company, Alphabet. The value of this company is estimated at $1,770 billion.
Google is based out of Mountain View, California, and was founded by Larry Page and Sergey Brin in 1993.
Jeff Bezos founded Amazon Inc. in 1994. It is based out of Seattle, Washington, and has a market share of $1,460 billion.
No discussion of tech companies would be complete without mentioning Facebook which goes under the trade name of Meta Platform Inc.
Started in 2004 by Mark Zuckerberg today, this company is valued at $839 billion. It is also based out of California.
One of the consistent things to gauge is tech companies. It is easier to measure the growth of such companies.
If you want to know how many technology companies in the US there are going by the numbers featured here, you get a good picture.
Tech Companies in the United States vs Rest of the World
If you compare tech companies in the United States with the rest of the world, the United States occupies 35% of the market share which is the highest in the world.
Asia comes next at 32% followed by Europe at 22%, Latin America at 6%, and Africa at 5%.
North America is estimated to control 3% of the market share as of today.
Of course, some other countries and continents are progressing fast, so it would be interesting to notice whether the United States can retain its title as the continent that controls the highest market share in the world.
Demographics of Technology Companies in the United States
Massachusetts records the number of tech workers as 440,793. It is however higher in proportion than the 1.86 million workers in California.
Regarding the mix between men and women, in 2021, 73.2% of the workers were men and 23.1% were women.
The significant gap between these percentages is widening rather than narrowing. It indicates a high inconsistency in gender.
The tech industry is huge in the United States. Tech companies drive the American economy.
Growth is being fueled by new technologies like VR & AR, blockchain, and AI.
As we have seen there is a considerable gender disparity. So that seems to be a major area of development.
This indicates that as per 2021 statistics the figure is 585,000 tech companies in the United States, a lot of work remains to be done on gender diversity.
We hope you have gained some interesting information about how many technology companies in the US there are in this brief but interesting post.