In today’s digital age, almost every aspect of business and commerce is effected by technology. In the 21st century, most individual industrialists (e.g., Vanderbilt, Rockefeller, Carnegie) have been replaced by massive corporations and conglomerates, and nearly all are involved in the technology space. Check out the infographic below to see which tech companies loom largest in the United States. This list of largest tech companies by state is based on the company revenues listed on the 2016 Fortune 1000 list. For lesser-populated states, the Inc 5000 list of fastest growing companies was the source.
Any tech company that describes themselves as developing new technology in communications, IT software, healthcare, aviation, or data solutions was included in the analysis that led to this infographic.
When revenue is in the millions and billions, one might assume that the company itself must have thousands of employees. Not true! For example, Tevet, LLC, which does computing services and repair for defense systems out of Tennessee, has only 33 employees, yet has a reported $137.4 million in revenue. Some of the other small companies are based in sparsely populated states. For example, online software service provider Foundant Technologies of Montana (where its largest city, Bozeman, has a population of only 37,000 residents), has just 43 employees and $4 million (2015) in revenue.
General Electric, a company that dates back to 1892 and is based in Boston, MA, is involved in nearly every major industry and business venture, with 333,000 employees and $123.7 billion in revenue (in 2016). Other massive companies include the usual suspects: Apple, from Cupertino, CA, has 115,000 employees and $215 billion revenue; AT&T, stationed in Dallas, employs 273,000 with a $163.8 billion revenue; Verizon Communications, headquartered in New York City, has 162,000 employees and $125.98 billion in revenue; Internet commerce magnate Amazon, out of Seattle, WA, has 230,800 employees and $135.99 billion in revenue.
Among these five companies, 1.113 million people across the United States are employed and over $764.5 billion in revenue are generated, proving just how vital the technology industries are to the American economy.
Major corporate empires are created by addressing a large, untapped high-value need. For that reason, it’s no surprise that so much of the country’s workforce is focused on the creation and innovation of new tech solutions in telecommunications and IT-related companies. The future knows no bounds as it relates to new ways that technology continues to become so embedded in our daily lifestyle.
For information on how tech companies use data to drive decisions, click here.