Asia remains a behemoth in the tech industry, and continues to encapsulate various markets from solar panels, mobile apps, to robust medical systems for chronic diseases.
Asia has always proven itself resilient in so many ways, and in 2019, multi-million and multi-billion dollar tech houses continue to thrive in the region, despite political instability in some states, and the continuing tumult in North America and the Middle East.
Asia is a global technological pivot in a thousand different ways, and Asian-developed technologies (both software and physical), continue to change the globalized landscape of the world.
While there have been numerous reports that Asia’s technology manufacturing sector is experiencing a downturn, what we see from the analysis of the biggest manufacturers is there is still plenty of dynamism and demand in different markets, and the ever-increasing capitalization
This year, we take a look at the most powerful tech houses in Asia, and how exactly they’re raking in the big bucks this year and in the years to come.
Billionaire Tech Darlings
Forbes’ “Asia’s Fab 50 Companies” list features the most powerful companies in Asia overall, with valuations of over a billion dollars each. A significant chunk of these titans are either tech manufacturers, or are involved in IT infrastructure and technology development for mobile and Web.
Boasting a market capitalization of $491.3 billion and a staggering 44,796 employees, Tencent Holdings is a superstar of the Chinese tech industry, and is the only proof you are going to get that the Internet is definitely a huge moneymaker.
Many would be surprised that Tencent Holdings made its fortune not just in custom software development, but also digital advertising and developing apps for both mobile and other digital platforms.
Products like launchers for Android devices that offered value-added purchases like themes are part of its successful list of global offerings. In 2018 alone, the company raked in $35.3 billion in sales, and shows no letting up in its growth.
Headed by CEO Hua Ma, the company is headquartered in Shenzen, China, and is currently sojourning to other niches, like tourism assistance, teaming up with other companies for extended ventures that make use of multiple channels of communication, like email and WhatsApp messaging.
With a market capitalization of $18.9 billion, AAC Technologies occupies the lower middle of the graph as it raked in $3.1 billion in sales last year.
AAC Technologies specializes in the manufacturing of acoustic technologies, including speakers, microphones, and voice coil motors.
With a bourgeoning electronics industry that requires audio components, it’s not surprising that this company is making a huge killing in acoustic technologies. Based in Hong Kong, the company was established in 1993 and has made the list of the Top 100 Digital Companies in 2018, too.
Longi Green Energy Technology
Longi Green Energy Technology is one of the biggest success stories in renewable energy manufacturing in Asia. It has a market capitalization of $11.9 billion and engages in R&D and manufacturing of photovoltaic technologies, including PV solar arrays, power stations, and other associated technologies.
Established a mere 19 years ago in Xi’an, China, Longi Green Energy Technology continues to penetrate huge global markets, including Canada, Australia, and North America – three of the largest markets for high end photovoltaic technologies.
Longi specializes in monocrystalline technology, which is the first type of technology used for the manufacture of solar panels. It ranked number twenty-seven in Forbes’ “Growth Champions 2018” and ranked number two thousand in the “Global 2000 2018” list last year.
The solar energy market is considered relatively young, as it solar energy penetration in North America for instance only supplies a fraction of one percent of the total energy needs of the country.
Luxshare Precision Industry
The name of the game in the Asian tech industry is specialization, and Luxshare Precision Industry is one of the leaders in the field of specializing products. It manufactures connectors for computers and other electronic devices, including cable assemblies and antennas. Take note that antennas are used for a wide variety of devices, not just smart phones. Wi-Fi routers, repeaters, modems – these all require high quality antennas that work tirelessly, day after day.
Since interconnectivity and long-range communication has been a necessity for Asian progress since the nineties, it’s not surprising that Luxshare Precision Industry has built a titanic fortress of profits, raking in $3.4 billion in sales last year, as it enjoys a further $11.2 billion in market capitalization in 2019.
Luxshare first appeared in Forbes’ 2014 list of “Asia’s 200 Best Under A Billion,” and its current market capitalization speaks volumes of how it has grown in less than a decade of existence, as it was only established in May 24, 2004. The company currently employs 45,082 employees and is headquartered in Dongguan, China.
Tech Mahindra is an Indian information technology solutions provider, and employs a staggering 117,693 employees as of June 6, 2018. Founded in 1986, Tech Mahindra provides IT business infrastructure and business process outsourcing solutions to global brands.
Raking in a huge $4.6 billion in sales in 2018, the company boasts of being one of the World’s Best Employers in Forbes’ 2018 list, and is number fifteen in the Top 100 Digital Companies list, too.
The Masters of Innovation
While the previous titans rule the Asian tech sphere with large manufacturing plants and endless production, this is not to say that smaller companies are not adding to the diversity in tech that is the Asian technology sphere.
The Masters of Innovation are spearheading constant change and progress in information technology and related technologies, and are reshaping the world through how we use human knowledge, digital interaction, and Big Data.
Holmusk focuses on the development of cost-effective and highly scalable systems for medical use, specifically in the monitoring and tracking of chronic diseases.
Behavior change programming is Holmusk’s niche, and currently combines existing digital technology with scientific research to create one of a kind set of systems that use predictive algorithms. These predictive algorithms are used for the personalized delivery of healthcare and population health management, too.
SIC Robo features AI automation geared for stock trading, with the intent of helping even the most novice of traders succeed in stock trading without having to spend endless hours sifting through market available data.
The company offers financial guidance and tracking solutions, and also offers robust AI technology for studying and analyzing the stock market, ultimately to help people grow their portfolios and gain profit from their stock trading activities.
Zendesk offers a highly customizable customer service platform for other companies. Zendesk is considered the alternative to offshoring customer service, or at least, it attempts to reduce the need to offshore customer care activities to offshore BPO providers.
Focusing on data analysis and providing the best possible consumer experience, Zendesk is actually backed by Big Data as it continually analyzes the quality of interactions of its clients with different consumers. At the core of Zendesk is the idea that even small startups can offer their customers worthy customer service without spending millions in the process.
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