Deloitte: "Top 500 Asia-Pacific Tech Companies' Revenue Soared 551% Last Year"
[Asia Economy Reporter Ji-hwan Park] Despite the COVID-19 pandemic, the average revenue growth rate of the top 500 companies in the Asia-Pacific region last year was found to be as high as 551%.
On the 28th, Deloitte Korea Group announced the '2020 Asia Pacific Technology Fast 500' (Technology Fast 500) selected by Deloitte Global.
The Technology Fast 500 is the most prestigious technology award in the Asia-Pacific region, recognizing the top 500 companies that have achieved rapid growth through innovative technology and entrepreneurship in the fields of hardware, software, telecommunications, media, life sciences, and green energy industries.
The average revenue growth rate of the companies selected in the top 500 this year was 551%. Following the record high of 987% in 2018, it was 717% in 2019, and the growth rate slightly decreased in 2020 due to the impact of the COVID-19 pandemic.
Among the top 10 companies last year, five were Chinese companies, showing a clear presence in the software sector. The Chinese startup 'TERMINUS' (特斯?), achieved a revenue growth rate of 17,915%, ranking first for six consecutive years. TERMINUS provides 'AIoT' (Artificial Intelligence of Things) solutions related to community services, public goods, and electricity.
The number of life sciences companies among the top 500 increased by 9% compared to the previous year. Twenty Korean life sciences companies were also included in the top 500. Among them, 'ABL Bio' was the only company to rank within the top 10. ABL Bio, ranked 8th, is recognized as a global leader in the bispecific antibody field.
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Jae-ho Son, Partner of Advanced Technology and Media, Telecommunications Industry Division at Deloitte Korea Group, said, "A common characteristic of companies that recorded rapid growth despite the COVID-19 pandemic lasting more than a year is possessing core competitiveness," adding, "We hope that the announcement of this Technology Fast 500 will serve as an opportunity for many other companies to analyze and enhance their core competitiveness."
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