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Dec 3, 2021

Can Europe Dominate In Innovation Despite US Big Tech Lead?

Posted by in categories: government, innovation

The US tech industry seems to be unstoppable. In fact, it is the most valuable tech industry in the world. According to CompTIA, in 2022, the US tech market will represent 33% of the global market share — or approximately $1.8 trillion. The European technology industry is a dwarf in comparison to America’s FAMANGs– Facebook, Amazon, Apple, Microsoft, Google and Netflix, which are worth approximately $6 trillion. Europe’s tech companies as a whole are worth about 30% of any one of the Big 4 American firms. SAP, by far the largest European technology corporation, is worth around 14% of Amazon or Microsoft. Only SAP makes it into the Fortune 500 in the Technology sector. But why are we seeing this trend? What makes the US tech market so much more valuable than counterparts in European markets. Federal research labs and Government grants accelerated core research across the US that helped to create new technology companies which are still household names today: HP, IBM and Google’s Alphabet all have their roots in government sector funding. Full Story:

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